Wärtsilä Corporation, Stock exchange release, 22 March 2019 at 10:30 E. Europe Standard Time
Wärtsilä provides restated financial information for 2018 in accordance with the new reporting structure
The technology group Wärtsilä’s new organisational structure became operational as of 1 January 2019. Wärtsilä’s financial reporting will reflect the new structure, with the two business areas, Wärtsilä Marine Business and Wärtsilä Energy Business, constituting the reportable segments.
Forming two business areas that cover both new equipment sales and services for the respective markets enables Wärtsilä to accelerate growth and the implementation of its Smart Marine and Smart Energy strategies. Integrating the newbuild and service activities enhances customer value by strengthening the focus on complete lifecycle solutions tailored to specific market needs. It also allows Wärtsilä to more effectively serve its customers with increased flexibility and faster response times.
Wärtsilä’s financial reporting for 2018 has been adjusted to reflect the new reporting structure and the restated comparison figures are presented in separate excel and PDF files attached to this release. This restatement has no impact on Group totals. In addition, Wärtsilä will report the service related order intake and net sales for the two segments. In the Wärtsilä Marine Business, sales for retrofit scrubber projects have been transferred from service to new equipment. The comparison figures have been adjusted accordingly.
For further information, please contact:
Executive Vice President & CFO
Tel: +358 10 709 5444
Vice President, Investor Relations
Tel: +358 10 709 5637
Wärtsilä in brief
Wärtsilä is a global leader in smart technologies and complete lifecycle solutions for the marine and energy markets. By emphasising sustainable innovation, total efficiency and data analytics, Wärtsilä maximises the environmental and economic performance of the vessels and power plants of its customers. In 2018, Wärtsilä’s net sales totalled EUR 5.2 billion with approximately 19,000 employees. The company has operations in over 200 locations in more than 80 countries around the world. Wärtsilä is listed on Nasdaq Helsinki.