- Wärtsilä Corporation has released its Interim Report January–March 2025.
- Wärtsilä reports improved operating result and strong growth in net sales.
- Net sales increased by 18% to EUR 1,560 million (1,321).
- The operating result increased by 30% to EUR 165 million (127), which represents 10.6% of net sales (9.6).
- Earnings per share increased to 0.21 euro (0.14).
- Cash flow from operating activities was on a good level at EUR 190 million (258)
Energy
Wärtsilä expects the demand environment for the next 12 months (Q2/2025-Q1/2026) to be better than in the comparison period.
However, Wärtsilä underlines that the current high external uncertainties make forward-looking statements challenging. Due to high geopolitical uncertainty, the changing landscape of global trade, and the lack of clarity related to tariffs, there are risks of postponements in investment decisions and of global economic activity slowing down.
HÅKAN AGNEVALL, PRESIDENT & CEO: Continued growth and improved performance amid increased uncertainty
“Wärtsilä had a solid first quarter of 2025, achieving an improved operating result and significant growth in net sales. However, towards the end of the quarter, uncertainty in the global economic outlook increased. Higher and broader trade barriers, along with policy uncertainty, are expected to limit global economic growth.
In the energy market, the continued growth in electricity demand is anticipated to drive demand for new power generation. This growth will primarily be met by renewables, with wind and solar expected to achieve record-high capacity additions in 2025. The increasing share of intermittent renewables in power systems worldwide also creates demand for balancing technologies, where Wärtsilä has a strong offering. However, the current trade policy uncertainty presents challenges to global energy-technology supply chains.
Wärtsilä’s order book was at an all-time high at the end of the first quarter of 2025 even though order intake in the first quarter decreased organically by 2%. Equipment order intake decreased, primarily due to lower orders in Energy Storage and Optimisation, while equipment order intake in Engine Power Plants increased by 35%. Service order intake increased, supported by higher activity in Marine and Energy. Net sales increased organically by 18%, mainly supported by growing equipment sales in Marine and Energy.
During the quarter, we announced the closure of the strategic review of Energy Storage and Optimisation. As a result, Energy was separated into two independent reporting segments: Energy, focusing on the power plants business and related lifecycle business and Energy Storage, focusing on the battery storage business and related lifecycle business. Separating Energy Storage into an independent reporting segment drives further focus on this business in a rapidly evolving industry. Wärtsilä remains fully committed to developing Energy Storage that will continue to focus on profitable growth, leveraging its project delivery and execution excellence, and growing its recurring revenue. Effective from 1 April 2025, Wärtsilä has three reporting segments: Wärtsilä Marine, Wärtsilä Energy, and Wärtsilä Energy Storage. Portfolio Business continues to be reported as other business activities.
Despite the uncertain macroeconomic outlook, our customers in the marine and energy industries remain focused on affordable energy and decarbonisation. Wärtsilä will continue to provide flexible and future-proof solutions that help our customers reaching their goals in a way that is both environmentally sustainable and financially viable. We have established ourselves as a technology leader in both of our industries, and our strong balance sheet, global footprint, and resilient service business give us a strong foundation to weather the challenges ahead.”
Author: Bryan Groenendaal
