Finnish engineering group Wartsila reported third-quarter order intake below market expectations on Tuesday, blaming an uncertain macroeconomic environment with full impact of higher tariffs still unclear.
Wartsila's quarterly order intake fell 0.7 per cent year-on-year to 1.79 billion euros ($2.09 billion). Analysts polled by Vara were expecting new orders worth of 1.87 billion euros on average.
"Due to high geopolitical uncertainty, the changing landscape of global trade, and the lack of clarity related to tariffs, there are risks of postponements in investment decisions and of global economic activity slowing down," the company said in a statement.
Wartsila, which builds ship engines and power plants among others, said it expected demand for its marine and energy storage businesses to be better over the next 12 months that the year before, with little change expected for the energy division.
The marine business made up 47 per cent of Wartsila's sales last year, with energy generating 29 per cent and energy storage 12 per cent.
(Reporting by Marta Frąckowiak in Gdansk, editing by Milla Nissi-Prussak)
