Wärtsilä Oyj Abp (MTA.F), an engineering company, on Tuesday posted higher first-quarter earnings even as overall sales remained largely unchanged.
Profit before tax climbed 17% to EUR 192 million from EUR 164 million last year.
Operating result increased 18% to EUR 194 million from EUR 165 million a year ago.
EBITDA grew 14% to EUR 236 million from EUR 207 million last year.
Net income attributable to equity holders of the parent company rose to EUR 146 million, or EUR 0.25 per share, versus EUR 122 million, or EUR 0.21 per share in the prior-year period.
Revenue remained broadly stable at EUR 1.556 billion compared with EUR 1.560 billion, as growth in equipment sales offset a decline in services. Equipment sales increased 11% to EUR 753 million, while services revenue declined 9% to EUR 803 million.
Order intake grew 10% to EUR 2.099 billion, supported by a 23% rise in equipment orders, while service orders edged lower.
Looking ahead, Wärtsilä expects the demand environment over the next 12 months to remain similar to the comparison period.
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