Wartsila Oyj Abp Q2 2020 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Tomi Markus Railo - DNB Markets, Research Division - Analyst : Jaakko, this is Tomi from DNB. I was wondering about the service development being down in Marine by 20% roughly, spares, 13%. Can you comment the development on the different end markets? For example, how much was the cruise down in the second quarter?

Question: Tomi Markus Railo - DNB Markets, Research Division - Analyst : And if I can have a follow-up, have you seen any price pressure in terms of the sales demand or sales?

Question: Tomi Markus Railo - DNB Markets, Research Division - Analyst : How is the pricing situation?

Question: Tomi Markus Railo - DNB Markets, Research Division - Analyst : Apologies. How is the pricing situation?

Question: Tomi Markus Railo - DNB Markets, Research Division - Analyst : And maybe Jaakko, if you can comment on the savings. You said, I think, EUR 30 million for the second quarter. How is it look for the second half of the year?

Question: Sebastian Kuenne - RBC Capital Markets, Research Division - Analyst : I will speak slow. The data and sound is not very good here. You mentioned the 100 LNG vessels that Qatar has ordered in South Korea. I'm a bit concerned that these vessels will be equipped with 2-stroke engines and that South Korea is basically bypassing a (inaudible) for the propulsion engine. How do you see your chances to get business there on these ships? That would be my first question. And I have one follow-up.

Question: Sebastian Kuenne - RBC Capital Markets, Research Division - Analyst : Yes. One on the cost savings. I hear that you put 3,100 workers in Finland on furlough. So they're not working at the moment. And I guess part of the savings you had comes from this. I understand that the government only pays 90 days of salaries for these workers. What are you planning after that period, which will then probably run out in the mid of Q3? What are you doing with these workers?

Question: Felix Henriksson - Nordea Markets, Research Division - Analyst : It's Felix from Nordea. On Energy, you were able to sign the energy order late in the quarter, which you preannounced this week. So I was wondering how are the negotiations evolving in energy? Taking into account the easing of movement restrictions and the all-around uncertainty in Energy. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JULY 17, 2020 / 7:00AM, WRT1V.HE - Q2 2020 Wartsila Oyj Abp Earnings Call So should we credit this sort of to the easing of movement restrictions or was this sort of an order that had been under negotiations for a while now and the timing of designing happened to take in place in June?

Question: Felix Henriksson - Nordea Markets, Research Division - Analyst : Okay. And then perhaps a follow-up on services on the energy side. So how far are we from sort of a normal situation in terms of accessing customer sites for service and maintenance? And could you perhaps comment on how the service sales growth improved throughout the quarter sort of on