Wärtsilä is a global leader in innovative technologies and lifecycle solutions for the marine and energy markets. We emphasise innovation in sustainable technology and services to help our customers continuously improve their environmental and economic performance. Our dedicated and passionate team of 18,300 professionals in more than 230 locations in 77 countries is shaping the decarbonisation of our industries across the globe.
In 2024, Wärtsilä’s net sales totalled EUR 6.4 billion. Wärtsilä is listed on Nasdaq Helsinki.
Effective from 1 April 2025, Wärtsilä have had three reporting segments: Wärtsilä Marine, Wärtsilä Energy, and Wärtsilä Energy Storage. Portfolio Business continues to be reported as other business activities. The change in the reporting structure will be reflected in Wärtsilä’s financial reporting starting from the second quarter of 2025.
Wärtsilä’s strong financial position and liquidity support our capital allocation principles and allow us to make strategic investments while offering solid dividends to our shareholders.
Wärtsilä introduced new combined financial targets for Marine and Energy, and separate new financial targets for the Energy Storage businesses on 1 April 2025.
Marine and Energy, combined financial targets
Energy Storage, financial targets
Group, financial targets
Operating margin targets are long term targets. In the short term, selective entry to new markets and related investments are expected to burden Energy Storage profitability.
Previously, Wärtsilä’ financial targets were set for the whole group and included 5% annual organic growth, 12% operating margin, gearing below 0.5 and a dividend distribution of at least 50% of earnings.
Wärtsilä’s industry-leading service network is a key enabler for maximum uptime, reliability, and total lifecycle solutions, all of which ensure customer success. Our network provides preventive, responsive, and optimised service, as well as lifecycle upgrades and remote support throughout the lifecycle of an installation. With our quality field service professionals around the globe, we can provide our customers with timely support wherever needed.
Wärtsilä has significant growth opportunities in all steps of the service value ladder. In transactional services, we support our customers by leveraging digital solutions for customer intelligence and automated lead management. We deliver enhanced performance through optimised maintenance and performance-based service agreements, where we guarantee the agreed performance by leveraging connectivity, big data, and analytics. The green transition is expected to provide a potential growth of +2x for retrofits and conversions of Wärtsilä’s running engine fleet by 2030.
The agreement coverage rate of our installed base is around 30%, and we see clear further opportunities for growth. The renewal rate of our service agreements is more than 90%, which is a proof point of the value that our lifecycle agreements are creating for our customers.
Wärtsilä has a strong track record in innovations, and our competencies are instrumental in securing a sustainable future for the marine and energy sectors. There are strong synergies between marine and energy in research and development (R&D) and manufacturing of new technologies. Throughout the decarbonisation transformation, we invest ~4% of net sales in R&D annually.
As the decarbonisation transformation in the marine and energy sectors moves forward, there will be a need for a broad array of solutions. Our focus in-house is on developing core technologies, and through partnering with technology providers we can ensure a broad solution offering for our customers. Already today, Wärtsilä engines can run with biofuels, methanol, and up to 25% hydrogen blends. In Q4 2023 we announced an engine concept operating with pure ammonia fuel, and in Q2 2024 the engine concept operating with pure hydrogen. The pure hydrogen concept is estimated to be ready for orders in 2025. It is important to acknowledge that while much of the decarbonisation work in the marine and energy industries is still ahead, Wärtsilä already has solutions and technologies that enable the transition to decarbonised shipping and 100% renewable power systems.
The roadshow presentation contains all the latest information about the company's development and activities. The material is updated quarterly with results materials and in connection with thematic calls.
