Building up

摘要

The last year has been a mixed one for Finnish company Waertsilae. Renowned for its manufacture of ship engines, its power plant division made up 25 per cent of its net sales in 2003. Overall, the company actually lost ?18 million ($22m)in 2003. Its market share of 1-60MW power plant between June 2002 and May 2003 was five per cent, with net sales of ?577.5m ($710m), order intake for 2003 was ?639.3m ($787m) and the year-end order book totalled ?357.2m($439m). Its real successes came in the service division, which grew 4 per cent in 2003, to now make up 38 per cent of its net sales. The division has long-term service agreements with a total output of 9.629MW. Its operational and maintenance agreements total 2,289MW. The service division covers both the ship power and the power plant businesses. Its operating profit target of these power divisions is 7-8 per cent of net sales, which Waertsilae says it will reach in 2005.