Mission, Vision and Strategy
Mission
We provide lifecycle power solutions to enhance the business of our customers, whilst creating better technologies that benefit both the customer and the environment.
Vision
We will be the most valued business partner of all our customers.
Strategy
Wärtsilä aims to be the leader in complete lifecycle power solutions for the global marine markets and selected energy markets worldwide. We see growth opportunities in gas power plants as part of our Smart Power Generation concept, as well as in gas-fuelled engines and related systems for the marine market. We also seek growth in environmental solutions, including scrubbers and ballast water treatment systems. Our strengths are our technological leadership, an integrated product and service offering, our close and long-standing customer relationships, and our unparalleled global presence. Our production and supply chain management serves both our end markets, and we constantly seek ways to maintain cost efficiency and high quality – often in co-operation with leading industrial partners in our key growth markets. Our R&D provides another source of synergies, allowing us to stay at the forefront of technology and innovation in our industry.
We are determined to capture growth opportunities within our end markets, while maintaining a solid profitability.
Power Plants
Our strategic goal is to grow in the large gas power plant market for utilities by influencing and actively developing selected target markets. We will demonstrate the superiority of our value proposition, which is based on the highest single-cycle efficiency and on unbeatable operational flexibility. Our goal is to maintain our leading position in heavy fuel oil fired power plants. This will be done by further enhancing our value proposition through guaranteed performance, high efficiency, and unique operational and fuel flexibility. We will also seek growth in field power, pumping, and compression applications in the oil & gas markets, as well as in emergency power applications for nuclear power plants. The capability of our engines to run on a wide range of fuels makes it possible for us to further grow in the market for power plants using renewable fuels. Our focus is on products and projects that provide unquestionable environmental benefits and that make economic sense.
Ship Power
Wärtsilä Ship Power seeks organic growth that will be supported by acquisitions and partnerships. This growth will be achieved by expanding sales to ship owners and operators based on integrated lifecycle solutions where performance and availability are guaranteed. This expansion will be crafted hand in hand with Wärtsilä’s Services business. Maintaining our position as the shipbuilding industry’s leading system integrator and establishing a strong foothold as a system integrator in the offshore business will also be key components for growth. Finally, further investments in strengthening our presence and maximising the competitiveness of our products and sales processes are of utmost importance, especially in the key shipbuilding areas, such as the BRIC countries and South Korea.
Services
In Services, our objective is to maximise our market share in the marine and power plant service markets. We will develop our service offering and delivery process to cost-efficiently provide better value to our customers. Together with our customers, we create lifecycle-optimising solutions that improve the customers’ operational efficiency and profitability. We use our advanced expertise to offer them 24/7 support globally in the fields of logistics, technical support and field service. Our offering includes an advanced portfolio of agreements, and we are able to deliver service projects that match the changing needs of our customers’ businesses. Moreover, we also use acquisitions to extend our offering and strengthen our market share. We combine service solutions with new equipment sales into lifecycle solutions that meet the specific needs of our customers. Being the only player on the market able to provide such a wide range of solutions from a single source, our competitive position is notably strengthened.
Wärtsilä Industrial Operations
Wärtsilä Industrial Operations' strategic goal is to provide market leading products from a broad product portfolio. Our products are suitable for integration into larger solutions or for use as ‘stand-alone' products, in order to serve a wide range of customer needs.
Our competitive product portfolio consists of products related to medium-speed engines, low-speed engines, propulsion equipment, electrical & automation equipment, as well as emissions abatement & energy efficiency products. They are reliable, cost-efficient, functional, environmentally compatible, technologically leading, and able to be integrated into solutions or delivered as stand-alone equipment.
Environmental targets
Wärtsilä's overriding promise is to supply power solutions that offer high efficiency with low environmental load. Our objective is to continuously improve the environmental performance of our products and services, as well as to maintain technological leadership by utilising new technologies and collaborating with our customers and other stakeholder groups. In doing this we help to enable the tightening of global environmental regulations and guidelines.
Social responsibility
Wärtsilä acts as a good corporate citizen wherever we are active. Our business operations and relations with our stakeholders are governed by our Code of Conduct. Wärtsilä is a responsible employer and we seek to offer our employees an interesting and exciting workplace where openness, respect, trust, equal opportunity and scope for personal development prevail. A further aim is to offer a hazard-free working environment to our employees and contractors, and to minimise the health and safety risks associated with the use of our products and services. Supply chain management and development are integral elements of our operations.