1. What is Wärtsilä’s purpose and strategy?
Wärtsilä's purpose is "Enabling sustainable societies with smart technology". Read here about Wärtsilä's purpose and strategy.
2. What are Wärtsilä’s financial goals?
Wärtsilä’s target is to improve its financial performance and create added value for its stakeholders and society. Wärtsilä’s financial goal is to offer investors a competitive return on their investment through profitable growth. Read more about Wärtsilä's financial targets.
3. What are Wärtsilä’s main geographical markets?
Wärtsilä’s customers are evenly spread around the world. For more information on Wärtsilä’s local presence please visit our local sites.
4. What are Wärtsilä’s main customer segments?
In the Energy Solutions business the customer groups can be divided into: industries, utilities and independent power producers. The Marine Solutions business segments consist of ship builders, ship owners and ship operators. The Services segments consists mainly of Wärtsilä’s installed engine base.
5. When was Wärtsilä founded?
Wärtsilä was founded in 1834. For more information on Wärtsilä’s history, please visit our History pages.
6. How many people does Wärtsilä employ?
Wärtsilä currently employs approx. 19.000 people in more than 80 countries around the world. Find out more about working at Wärtsilä on our Careers section.
7. Where are Wärtsilä’s biggest production facilities?
Wärtsiläs biggest production facilities are situated in Vaasa, Finland and in Trieste, Italy. Both centres are designed to produce several engine types.
8. Where can I find Wärtsilä's contact information?
Contact information can be found here. Wärtsilä's local companies around the world can be found here: Addresses of local companies
9. How much of Wärtsilä’s net sales is allocated to R&D?
In 2019 Research and Development totalled EUR 164 million or 3.2% of net sales.
10. What does Wärtsilä’s after market operations include?
Wärtsilä divides its services into following areas of expertise: Engine Services, Propulsion Services, Electrical & Automation Services, Boiler Services, Seals & Bearings Services, Environmental Services, Service Agreements, Services projects, Training services. Wärtsilä is the only service provider able to offer such a large range of services to its industry.
11. What are Wärtsilä’s most important raw materials?
Wärtsiläs most important raw materials are iron, steel, aluminium, metals, bronze, concrete, water and different oils.
12. How is Wärtsilä affected by changes in raw material prices?
The direct effect of oil price changes on production in Wärtsilä is quite limited. The indirect effects of oil price volatility on customers are outweighed in importance by the long economic life of the investments and the availability of alternative fuels.
The propulsion business hedges its exposures to different metal prices. These risks are small from the group’s perspective. Metal prices have an indirect effect on engine component costs. This exposure is not hedged but annual agreements are in place to balance the short-term fluctuations.
13. How do changes in currency exchange rates impact Wärtsilä?
Most of Wärtsilä’s business is conducted in euros, and the impact of changes in exchange rates is therefore limited. Foreign exchange exposures are monitored at the Business level and netted and hedged at Group level. The hedges cover such time periods that both the prices and costs can be adjusted to new exchange rates. The Group’s profits and competitiveness are indirectly affected by home currencies of its main competitors: USD, GBP, JPY and KRW. Since Wärtsilä has subsidiaries outside the euro zone, the Group’s shareholder’s equity is also sensitive to exchange rate fluctuations.