Wärtsilä improves profitability

Håkan Agnevall, President of and CEO of Wärtsilä, during welcome speech at STH inauguration 1.6.2022
Håkan Agnevall. Image: Christoffer Björklund / Wärtsilä
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Wärtsilä’s interim report for January–September 2023 has been published. Improved profitability, strong cash flow and good development in services are some of the highlights.

Wärtsilä has presented their interim report for the first three quarters of 2023. Håkan Agnevall, President and CEO, speaks of improved performance in many areas.

“In the third quarter, order intake grew organically at 18%, supported by good development both in equipment and services,” Håkan Agnevall says.

We expect the demand environment for the coming 12 months to be similar to the comparison period in the Marine (including Marine Power and Marine Systems) business and better than the comparison period in the Energy business. We continue to make steady progress towards our profitability target.

Highlights from January–September 2023

  • Order intake increased by 18% to EUR 5,214 million (4,436), of which organic growth was 22%
  • Service order intake increased by 16% to EUR 2,644 million (2,275)
  • Order book at the end of the period increased by 6% to EUR 6,594 million (6,229)
  • Net sales increased by 7% to EUR 4,371 million (4,072), of which organic growth was 11%
  • Comparable operating result increased by 38% to EUR 320 million (232), which represents 7.3% of net sales (5.7)
  • Operating result increased by EUR 337 million to EUR 274 million (-62), which represents 6.3% of net sales (-1.5)
  • Basic earnings per share increased to 0.28 euro (-0.16)
  • Cash flow from operating activities increased to EUR 432 million (-113)
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