Orders received fell short of expectations and revenue declined.

The company will restore the full-year outlook it canceled in March and also anticipate a decline in net sales for the full year.

Profit before taxes rose from zero a year ago to EUR 34 million, which its Swedish forecasting service Infront Data's 12 analysts' median forecast predicted to reach.

Earnings per share improved from EUR -0.01 to EUR 0.04, while analysts expected EUR 0.05.

Operating profit excluding non-recurring items increased from 39 million to 61 million, while the market expectation was 58 million.

Net sales decreased by 11 percent to EUR 995 million.

Net sales from services decreased by 14 percent to EUR 499 million due to lower equipment utilization rates and corona measures.

Equipment sales decreased by 8% to EUR 496 million, mainly due to lower sulfur scrubber deliveries.

Orders received amounted to EUR 981 million instead of the expected EUR 985 million.

One year earlier, order intake was EUR 979 million.

Order intake for services decreased by 23 percent to EUR 521 million, while order intake for equipment increased by 54 percent to EUR 460 million.

Wärtsilä now expects short-term demand to improve from current levels in the marine and energy markets.

However, the predictability of demand is still limited and current market conditions make the outlook uncertain.

Based on the order backlog received, the company expects full-year net sales to decrease by approximately 10 percent from last year's EUR 5,170 million.

The effects of the coronavirus are expected to continue to weigh on the company’s profitability, and although demand for services is expected to improve, seasonal growth is unlikely to be as strong as in previous years.