Wartsila Oyj Abp
XMUN:MTA
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Wartsila Oyj Abp
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Transocean Ltd
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Wartsila Oyj Abp
Wärtsilä makes equipment and services for ships and power plants. In marine, it sells ship engines, propulsion systems, automation, and navigation-related services that help vessels run safely and efficiently. In energy, it supplies engines, controls, and battery storage systems for power plants and grids. Its main customers are shipping companies, shipyards, ferry and cruise operators, offshore and marine operators, as well as utilities and independent power producers. Wärtsilä earns money by selling new equipment, spare parts, maintenance contracts, upgrades, and long-term service agreements. A large part of its business also comes from helping customers keep older engines and systems running reliably over many years. What makes Wärtsilä different is that it sits in the middle of the life cycle of heavy machinery. It does not just ship a product and walk away; it supports the installed base with service, software, and technical expertise. That gives it a mix of project sales and recurring service revenue in industries where downtime is expensive and reliability matters a lot.
Wärtsilä makes equipment and services for ships and power plants. In marine, it sells ship engines, propulsion systems, automation, and navigation-related services that help vessels run safely and efficiently. In energy, it supplies engines, controls, and battery storage systems for power plants and grids.
Its main customers are shipping companies, shipyards, ferry and cruise operators, offshore and marine operators, as well as utilities and independent power producers. Wärtsilä earns money by selling new equipment, spare parts, maintenance contracts, upgrades, and long-term service agreements. A large part of its business also comes from helping customers keep older engines and systems running reliably over many years.
What makes Wärtsilä different is that it sits in the middle of the life cycle of heavy machinery. It does not just ship a product and walk away; it supports the installed base with service, software, and technical expertise. That gives it a mix of project sales and recurring service revenue in industries where downtime is expensive and reliability matters a lot.
Strong start: Wärtsilä said Q1 was a strong start to 2026, with order intake up 10% to EUR 2.1 billion, an all-time high order book of EUR 8.9 billion, and improved operating results.
Energy surge: Energy order intake jumped 56%, helped by strong demand for equipment and several big data center wins in the U.S.; management said price realization is good and that margin benefits should build over time.
Marine steady: Marine also improved, with order intake up 9% and service book-to-bill above 1, while management said the market backdrop remains healthy despite Middle East uncertainty.
Storage weakness: Energy Storage remained the clear weak spot, with order intake down 53% and management warning the business could be loss-making in the second half if orders do not improve soon.
Cash flow drag: Operating cash flow was only EUR 7 million, which management linked to higher working capital from engine production ahead of later deliveries rather than a change in demand.
Outlook: For the next 12 months, Wärtsilä expects Marine demand to be similar to last year, Energy to be better, and Storage to be better, while warning that geopolitical and tariff uncertainty make forecasting harder.
