- Wärtsilä reports continued improvement of net sales, profitability and cash flow in Q3.
- For July-September our net sales grew year on year by 18%, with comparable operating profit increasing by 41% to 177 MEUR.
- Cash flow from operating activities saw strong growth to 296 MEUR.
Wärtsilä expects the demand environment for the next 12 months (Q4/2024-Q3/2025) to be better than that of the comparison period.
Related news: Wärtsilä ensures must needed power commitment to Zambia with O&M agreement for Ndola Power Plant
Wärtsilä CEO Håkan Agnevall comments:
“The market environment for Wärtsilä’s businesses remained stable during the third quarter of 2024. However, geopolitical risks have amplified in recent months, adding uncertainty to the macroeconomic outlook.
The energy market continued to be influenced by protectionism and elevated geopolitical risks. Despite the uncertainty surrounding the pace of the global energy transition, renewable energy sources have remained dominant in new capacity additions. The increasing need for balancing power to support the growth in renewable energy deployments has resulted in improved demand for engine power plants compared to last year. The grid balancing capabilities of Wärtsilä’s engines ensure that customers can maintain a consistent and reliable energy supply while progressing towards decarbonisation. Notably, in September, Wärtsilä announced being contracted to deliver four Wärtsilä 50SG engines to a new power plant for the Kentucky Municipal Energy Agency (KYMEA). The fast-starting engines will offer flexibility and a rapid response to fluctuations in the availability of wind and solar power, thereby protecting KYMEA’s members from electricity market price volatility.”
Link to the full report HERE
Author: Bryan Groenendaal
