The group's ship power division racked up 43% sale growth compared to the first half of 2013, off setting a 26% drop in sales for the power plants division, and resulting in a net sales growth of 5% as a whole.
Despite reporting a slowing of contracting towards the summer, the ship power segment registered 342 contracts in the second quarter. LNG and LPG carriers saw particular growth, with 84 signings in the first half up from 49 in H1 2013.
Wärtsilä's operating result was EUR212m for the half, up from 181m in January to June 2014. The company forecasts a profitability for 2014 of 11.5%, with 5% sales growth.
"The first half of 2014 has developed well. I am pleased to note that the ongoing restructuring measures have already made a positive contribution to our operating result. The savings we have achieved through these measures, together with the improved Ship Power and Services performance, have compensated for the low volumes in the Power Plants business and resulted in profitability increasing to 9.9%," stated Wärtsilä president and ceo Björn Rosengren.
"Contracting in the marine markets was active and Ship Power's second quarter order intake developed favourably, especially in the offshore and gas carrier segments. The Services business had an active quarter in terms of signing long-term service contracts with marine customers. The interest for agreements continues to be strongest in the more specialised vessel segments."
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