Wärtsilä Oyj Abp said its normalized net income for the fourth quarter came to 74 euro cents per share, compared with the S&P Capital IQ consensus estimate of 95 cents per share.

EPS increased 25.4% year over year from 59 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €147.3 million, an increase of 24.8% from €118.0 million in the year-earlier period.

The normalized profit margin rose to 9.4% from 7.4% in the year-earlier period.

Total revenue declined on an annual basis to €1.56 billion from €1.60 billion, and total operating expenses fell from the prior-year period to €1.36 billion from €1.41 billion.

Reported net income grew 8.9% from the prior-year period to €171.0 million, or 86 cents per share, from €157.0 million, or 79 cents per share.

For the year, the company's normalized net income totaled €1.58 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of €2.10.

EPS declined from €1.69 in the prior year.

Normalized net income was €311.6 million, a decline from €334.3 million in the prior year.

Full-year total revenue declined from the prior-year period to €4.80 billion from €5.04 billion, and total operating expenses declined year over year to €4.29 billion from €4.48 billion.

The company said reported net income declined year over year to €352.0 million, or €1.78 per share, in the full year, from €422.0 million, or €2.14 per share.