The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Erkki Vesola - Inderes Oy - Analyst
: It's Erkki Vesola from Inderes. Clarkson still remains apparent positive in the 2020 contracting estimates in the segments that are important for you,
gas carriers, special vessels, even container vessels. And even when considering the lead lag to your orders, why are you still so cautious regarding
Marine outlook?
Question: Erkki Vesola - Inderes Oy - Analyst
: This is on a different subject. Cost inflation drivers going forward, I mean, steel, hydraulics, electronics, wages, especially, how do you see that
developing? And what's your capability to pass them on to your price?
Question: Antti Kansanen - SEB, Research Division - Analyst
: It's Antti from SEB. Coming back to the comment on pricing pressure and the gross margin on the backlog that you are delivering for 2020, still,
could you give even some guidance on how we should expect the margin developing year-over-year if you look at what you have in your backlog
for 2020? So how has the pricing pressure evolved throughout, let's say, last 12 months? Is the -- is kind of the worst still ahead in terms of what
you are delivering out of there? Or how much worse?
Question: Antti Kansanen - SEB, Research Division - Analyst
: But if you think about the pricing right now that you are taking orders to be delivered in 2021, should be -- should we be worried about kind of
impacts on '21 compared to '20 when you are delivering these orders?
Question: Antti Kansanen - SEB, Research Division - Analyst
: Okay. And the second question will be on scrubbers. Could you comment a little bit how much did you deliver on Q4 and how much you have left
for this year? And how did the scrubber deliveries impacted your margins or mix during the Q4?
Question: Antti Kansanen - SEB, Research Division - Analyst
: Did you mean that you expect to be slightly higher if you see a comeback in order intake? Or is it based on the backlog that you have right now?
Question: Antti Kansanen - SEB, Research Division - Analyst
: Right. And how about the mix impact or the profitability impact compared to other Marine OE business in Q4?
Question: Tomi Markus Railo - DNB Markets, Research Division - Analyst
: This is Tomi from DNB. Just to clarify, how much were the scrubber orders in 2019 exactly?
Question: Tomi Markus Railo - DNB Markets, Research Division - Analyst
: And then in terms of the Energy order backlog calculations, or how do you want to call them, can you just give and understand the gross split
comment that how much were really canceled or how much was your own decisions due to delays in down payments and so on?
Question: Tomi Markus Railo - DNB Markets, Research Division - Analyst
: And then still on the overall outlook, if you say that the demand is expected to somewhat below, you are also commenting that Energy orders
should see some recovery. Are you saying that the Marine equipment orders could be down in 2020 compared to last year?
Question: Tomi Markus Railo - DNB Markets, Research Division - Analyst
: Okay. Then finally, how do you see the capacity situation at the moment? Are you happy with the order intake level in Energy, what you got in
fourth quarter and then the pipeline outlook for 2020? Or do you see a need for further capacity adjustments in 2020?
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