Turnover on up for Wartsila UK arm

A global energy giant with bases in Aberdeen, Montrose and Glasgow has seen turnover at its UK arm increase by 5.5%.

Wartsila UK, which specialises in smart technology, saw turnover grow to £129.5 million, from £122.6m in 2017, during 2018. Pre-tax profits rose by 6.5% to £12.4m last year, from £11.6m previously.

The subsidiary focuses on the marine and energy markets and improves the performance of vessels and power plants.

In the firm’s annual report, company secretary Jayne Proctor attributed the rise in turnover to the company having strong growth in long term contracts and associated service work.

An increase in stock to £14.9m, from £9.6m, was due both to uncertainty

“Firm’s success attributed to growth in long termcontracts”

on the availability of imports after Brexit and the production of large contracts in the company order book, she added.

Staffing levels increased to 446 last year, from 418 in 2017, with 53 employed in sales, 300 in production and technical and 93 in administrative roles.

But the salary and associated costs bill fell to £19.4m, from £19.7m, a fall of 1.78%.

The firm grew its footprint in 2007 when it acquired Electrical Power Engineering (Scotland), which specialised in marine power systems and offshore applications.

In May this year, the company acquired the Ships Electronic Services group of companies, comprising Ticketcouch, Ships Electronic Services and Greenham Regis.

Wartsila UK’s parent is headquartered in Helsinki, Finland, and employs around 18,000 people across 200 operations in 80 countries.