Order intake and order book
Order intake increased
Wärtsilä's order intake for the financial period totalled EUR 4,005 million (3,291), an increase of 22%. The book-to-bill ratio was 0.88 (0.63). Wärtsilä Ship Power's order intake was EUR 657 million (317), an increase of 107% over the corresponding period last year. The market started to show small signs of recovery in the first quarter of 2010, leading to increased ordering activity for Wärtsilä Ship Power from the second quarter of 2010. Wärtsilä noted increased activity in the Offshore segment throughout the year and secured several offshore orders during the period. Wärtsilä signed a major contract with the Brazilian industrial group QUIP to supply a totally integrated power solution for a new FPSO (Floating Production Supply and Offloading) vessel. The vessel is unique in that it will be the first FPSO vessel ever to operate on more than 100 MWe of installed power, produced by gas engines.
For the financial period, the Power Plants order intake totalled EUR 1,413 million (1,048), a 35% increase compared to last year. The clearly increased order intake was attributable to the improved financing situation in general, as well as recovery in many emerging economies. During the year Wärtsilä received several significant orders. Wärtsilä was contracted to supply Africa's largest gas engine power plant. The contract value is EUR 120 million and it is to be installed in Cameroon. In the second quarter, Wärtsilä was awarded a contract from Brazil to build the largest power plant ever built by Wärtsilä anywhere in the world. This turnkey contract is valued at close to EUR 200 million and the plant will have an electrical output of 380 MW. In addition, Wärtsilä received more than 900 MW of orders from Bangladesh, and almost 700 MW of orders from Turkey.
The Services order intake totalled EUR 1,931 million (1,917) for the financial period. Customers showed an increasing interest throughout the year in cost savings and in reducing their environmental footprint and Wärtsilä received several orders for environmental upgrades and conversions.
At the end of the financial period Wärtsilä's total order book stood at EUR 3,795 million (4,491), a decrease of 16%. The Ship Power order book stood at EUR 1,825 million (2,553), -29%.The Power Plants order book amounted to EUR 1,299 million (1,362), which is 5% lower than at the same date last year. The Services order book totalled EUR 671 million (576) at the end of the financial period, an increase of 16%.