Half Year 2026 Wartsila Oyj Abp Earnings Call Transcript
Key Points
- Wartsila Corp (WRTBF) reported an all-time high order intake of EUR2.8 billion, marking a 33% increase, with significant contributions from both Energy and Marine sectors.
- The company's order book reached an all-time high of nearly EUR9 billion, indicating strong future sales potential.
- Wartsila Corp (WRTBF) achieved a 500 basis point improvement in the gross margin of its Energy Equipment order book since the start of 2025.
- The company reported a strong cash flow of EUR497 million for the quarter, supported by profitability and customer payments.
- Wartsila Corp (WRTBF) is expanding its production capacity by 2.2 times by 2029, reflecting confidence in long-term demand growth.
- Service order intake decreased by 4% due to portfolio business divestments and negative FX impact, although it grew organically by 1%.
- Net sales remained stable at EUR1.6 billion, with reported sales slightly down, although organic sales grew by 5%.
- The company faces challenges from regulatory fragmentation in the marine industry, with different regions introducing their own regulations.
- Wartsila Corp (WRTBF) has divested 11 business units over six years, which were typically dilutive to the company's results.
- The energy storage joint venture is expected to have a EUR40 million to EUR50 million negative impact on Wartsila Corp (WRTBF)'s 2026 operating results.
Good morning and welcome to this news conference for Wartsila results for Q2 2026. My name is Hanna-Maria Heikkinen and I'm in charge of Investor Relations.
Today, our CEO, Hakan Agnevall, will go through the group highlights, business performance, and after that, our CFO, Arjen Berends, will continue with the key financials.
After the presentation, there's a possibility to ask questions. Hakan, time to start.
Thank you, Hanna-Maria, and welcome, everybody, to Q2 report Q2, which was a strong quarter, I must say, and I'm very happy to say. So all-time high order intake and improved operating results. We continue our journey. So total order intake increased by 33% to EUR2.8 billion, and that is an all-time high quarter in the history of Wartsila all-time highs, both in Energy and Marine. So all-time high quarterly order intake for Energy close to
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