Marine Division
The division’s customers include shipowners, shipyards, manufacturers of diesel and gas engines, as well as companies that work with offshore extraction of oil and gas. The offering includes pumping systems, boilers, heat transfer equipment, high speed separators, digital solutions and several different environmental products, including systems to clean ballast water and exhaust gases.
The Marine Division consists of four Business Units: Pumping Systems, Water, Wind & Fuel Solutions, Heat & Gas Systems and Digital Solutions.
| Marine-divisionen | ||||
| Koncernen | ||||
| MSEK | 2024 | 2023 | ||
| Marine Division | ||||
| Consolidated | ||||
| SEK millions | 2024 | 2023 | ||
| Orderingång | Orders received | 29,699 | 23,960 | |
| Orderstock 1) | Order backlog 1) | 26,803 | 19,273 | |
| Nettoomsättning | Net sales | 21,881 | 19,049 | |
| Rörelseresultat 2) | Operating income 2) | 3,653 | 2,178 | |
| Justerad EBITA 3) | Adjusted EBITA 3) | 4,017 | 2,836 | |
| Justerad EBITA marginal 4) | Adjusted EBITA margin 4) | 18.4% | 14.9% | |
| Avskrivningar | Depreciation | 353 | 336 | |
| Avskrivning på övervärden | Amortization | 364 | 658 | |
| Investeringar 5) | Investments 5) | 390 | 336 | |
| Tillgångar 1) | Assets 1) | 30,065 | 29,856 | |
| Skulder 1) | Liabilities 1) | 10,382 | 7,998 | |
| Antal anställda 1) | Number of employees 1) | 6,290 | 5,655 |
1) At end of period. 2) Excluding comparison distortion items. 3) Alternative performance measure. 4) Adjusted EBITA/net sales. 5) Excluding new leases.
Order intake by business unit Jan-Dec 2024
Trend indicators by end market
| % of Total | YTD 24/23 | |||
| % of Total | YTD 24/23 | |||
| Skeppsbyggnad & sjöfart | Ship Building & Shipping | 75% | 38% | |
| Offshore | Offshore | 13% | -11% | |
| Övrigt | Other | 8% | 12% | |
| Motorkraft | Engine Power | 4% | -10% |
Order intake
Order intake for the Marine Division was significantly higher compared to last year driven by a strong demand for marine systems, digital solutions and service, which offset a more moderate demand for power and offshore systems.
The underlying market sentiment related to the building of new vessels was on a higher level compared to last year. New contracting has been strong across almost all ship segments with exceptionally high ordering in the oil tanker, gas and cruise segments. The increased shipbuilding activity has been further supplemented by a continued growing demand for sustainability related solutions which mitigate CO2 emissions, including solutions around energy efficiency, low carbon and zero carbon fuels. Multi-fuel capable solutions, primarily with LNG as the alternative fuel, continue to gain traction, driving demand for the new generation of multi-fuel boilers and alternative fuel supply systems. Offshore orders were at a slightly lower level compared to last year due to constrained supply chains in the first half of the year, which delayed new investment decisions. These have eased since. In addition, the need for safeguarding the productivity of existing offshore assets further supplements the demand. The underlying market sentiment remains strong due to stable high oil prices and the sanctioning of new projects to safeguard long term energy security.
Service orders grew compared to last year. Demand was driven by a good activity level in both the Shipping and Offshore end markets and due to a growing installed base of environmental solutions. Good freight rates in almost all vessel segments and the consequent desire to keep vessel assets in good operational readiness resulted in increased on-board maintenance and higher demand for all service scopes, ranging from spare parts to service.
Net sales
Net sales were at a higher level than last year. Sales were higher for both capital sales and service in almost all product areas except ballast water systems, with good execution of the large orderbook.
Adjusted EBITA
The adjusted EBITA increased compared to the previous year. This improvement was driven by higher net sales, which had a positive volume effect, and a more profitable product mix. Additionally, it was influenced by a favorable factory and engineering outcome, benefiting from high operational load. Costs increased due to general inflationary pressure and overall high business activity. Currency fluctuations had a slightly negative impact.