Wärtsilä's objective is to achieve profitable growth and create long-term value for our shareholders and society at large. Wärtsilä creates added value for its customers by providing products, solutions and services that fulfil their needs and expectations. These include the development of high-quality, reliable and environmentally sound products, solutions and services, building long-term partnerships with suppliers, offering employees competitive compensation and working conditions, as well as contributing to the well-being of the local communities in which Wärtsilä operates. Good economic performance establishes a platform for the other aspects of sustainability – environmental and social responsibility.
The development of sustainable products and solutions include long-term collaboration and continuous interaction with customers. A substantial proportion of the investments made in product and solution development is targeted at supporting our customers in the industries’ efforts to achieve decarbonisation. This includes a shift towards the use of sustainable fuels, such as bio and synthetic fuels, and adopting digital innovations and advanced data analytics systems for more efficient and safe operations. We provide our customers strong presence in key markets and a vast global service network throughout the product life cycle, thus ensuring optimal performance during the product’s lifetime. The modernisation of installed products can also extend their service life.
Suppliers and business partners are an integral part of the total value chain of our products and services. We work in close cooperation with carefully selected suppliers from around the world. Strong relations and information sharing help ensure market-conforming lead times for component supplies. Our sourcing strategy emphasises performance and innovation. The aim is to continuously develop and strengthen the global supply chain, thereby maintaining quality and cost competitiveness.
We aim to have close and excellent relationships with our key suppliers. Apart from financial benefits, engaging closely with suppliers stimulates knowledge sharing, creates an environment of innovation, and allows strategic suppliers to integrate more strongly into our value chain.
In addition to direct employment, we also employ thousands of people indirectly in subcontracting at our factories and units. In order to be able to recruit competent and motivated people, we endeavour to offer employees competitive salaries, opportunities for continuous personal development, and a good and safe working environment. Developing employee skills and competences is of critical importance both for our business performance and for the development of the employees.
Customer value creation through collaboration and knowledge sharing are also key components in Wärtsilä’s innovation activities. This innovative culture, together with a constant emphasis on safety, diversity, and high ethical standards, attracts skilled and committed people and creates the basis for a high performing organisation. The focus on operational excellence identifies Wärtsilä as being easy to do business with, and drives increased productivity and efficiencies for its customers.
Wärtsilä aims to meet shareholder expectations through efficient, profitable, competitive, and sustainable company operations. Our target is to pay a dividend of at least 50% of earnings over the cycle.
Wärtsilä aims to contribute towards the well-being of society through sustainable solutions, co-operating with local stakeholders, and supporting local development. With operations in over 200 locations in more than 80 countries around the world, Wärtsilä also supports societies by creating employment, paying taxes and social dues, and providing training and education to employees.
We are involved in global sponsorships, which are compatible with our purpose (Enabling sustainable societies with smart technology). The Board of Directors, Wärtsilä Corporation, and subsidiaries provide financial support for a number of charities on a corporate, national and project level. The Board of Directors have supported activities focusing on children and youth, nature and environmental protection, and well-being and health.
Wärtsilä pays various social dues and taxes to the governments of different countries. The social costs for employees contribute to the funding of pensions, unemployment and other social benefits that provide security and improve the quality of life for the company’s employees and their families.