Half Year 2025 Wartsila Oyj Abp Earnings Call Transcript
Key Points
- Wartsila Corp (WRTBF) reported a strong quarter with an 18% increase in order intake, reaching EUR 2.2 billion, leading to an all-time high order book of EUR 8.8 billion.
- Net sales increased by 11% to EUR 1.7 billion, with a notable 12% growth in equipment sales and 9% growth in service sales.
- The company achieved an 18% increase in comparable operating results, reaching EUR 207 million, which corresponds to a 12% margin of net sales.
- Wartsila Corp (WRTBF) launched a breakthrough carbon capture solution for the marine industry, capable of reducing CO2 emissions by up to 70%.
- The energy segment saw a record high order intake, up by 93%, driven by large orders and a strong demand for baseload engine power plants.
- Service order intake decreased by 6%, primarily due to the cyclical nature of the project-oriented retrofit business.
- The US market for battery energy storage is facing significant headwinds due to tariff uncertainties, leading to a 79% decrease in order intake.
- Despite strong performance, the marine segment saw a decrease in the number of vessels ordered, from 926 to 647, due to economic uncertainties and global trade policies.
- The energy storage segment experienced a 42% decline in net sales, impacted by lower equipment volumes and increased competition outside the US.
- The geopolitical uncertainty and changing global trade landscape pose risks of investment decision postponements and potential slowdowns in global economic activity.
Good morning, and welcome to this news conference for Wartsila Q2 '25 results. My name is Hanna-Maria Heikkinen, and I'm incharge of Investor Relations. Today, our CEO, Hakan Agnevall, will start with the group highlights. He will continue with the business performance; and after that, our CFO, Arjen Berends, will continue with the key financials. After the presentation, there is a good time for Q&A.
Please, Hakan, time to start.
Yes. Thank you, Hanna-Maria and a warm welcome to everybody online. If we sum up the whole quarter, it's been a very strong quarter for Wartsila. Order intake, net sales, operating results and cash flow all increased. So order intake increased by 18% to EUR2.2 billion, which led us into an all-time high order book of close to EUR8.8 billion.
Net sales went up with 11% to EUR1.7 billion, and we continue to improve our
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