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: Johan Eliason - Kepler Cheuvreux, Research Division - Analyst
: So I was just wondering a little bit, first, on Energy side. I mean you say market share has been stable, '19, '20, but there was obviously somewhat
of a drop from previous. Is that related to engines losing out versus the turbines? Or is there an engine competitor that you see have taken market
share?
And then secondly, we are talking about some positives as well, this LNG order. It seems like it's the main engine. I thought you sort of were closing
down your main engine business, or is this a special niche where your four-stroke engines are still applicable? Or what's the development there?
Question: Johan Eliason - Kepler Cheuvreux, Research Division - Analyst
: Okay. Just to follow up on the LNG side, are there more of these Arctic order potential in the near-term future as well?
Question: Antti Kansanen - SEB, Research Division - Analyst
: Yes. I have a bit of a broader question on capital allocation. You had a fairly strong or really strong cash flow last year. However, there is a kind of
a substantial dividend cut to kind of protect the balance sheet. So if we think about capital allocation and MSA, for example, going forward, how
do you see your technology portfolio, especially on the Energy, the power plant division, being a fix to the energy transformation that we are seeing
right now? Is there something to add, technology-wise, that would be complementary? How should we think about that?
Question: Antti Kansanen - SEB, Research Division - Analyst
: Can I ask a follow-up for Sushil, maybe regarding the U.S. market. How do you see that evolving now given especially the role of LNG, blue hydrogen,
given the new administration? Maybe U.S. has a bit more positive stance towards carbon capture than Europe, for example. So what does this
impact your business and the engine technology, let's say, a storage and backup market?
Question: Erkki Vesola - Inderes Oy - Analyst
: About the storage or the storage, all the orders you are getting, it's obviously an increasing part of your Energy business. But how about the
aftermarket side of this? Is there any maintenance business once the storage solutions have been delivered? Or are we just talking about, say,
potential [GEMs] upgrades, et cetera?
Question: Erkki Vesola - Inderes Oy - Analyst
: Okay. And Jaakko, all the best in the future on your, say, less hectic days.
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