Wärtsilä (WRT1V) investor relations material

Marine segment developments

• Service growth continues, with increasing share of installed base under performance-based agreements, now at 34% and rising annually.

• Core marine segments—cruise, ferries, offshore, special vessels—show strong development and positive sentiment.

• Decarbonization remains a key growth driver, with leadership in new fuels, efficiency improvements, and carbon capture solutions.

• Regulatory landscape is becoming more fragmented, but fuel flexibility and efficiency remain central to long-term customer value.

• Container liner activity is robust, with new vessel orders and strong performance in cruise, ferries, and oil & gas segments.

Energy segment and data center opportunities

• Energy business split is roughly 60% marine, 40% energy, with services now slightly outweighing new build.

• Balancing power solutions are in high demand, especially in the U.S. and Brazil, driven by renewable integration needs.

• Data center power demand is rapidly growing, shifting from small backup needs to large-scale, off-grid generation in the hundreds of megawatts.

• Recent data center orders highlight strong pipeline and intrinsic benefits such as no thermal derating, low water needs, and modular, efficient solutions.

• Market share in the U.S. is expected to structurally improve as more customers adopt engine-based solutions for data centers.

Competitive landscape and technology

• Gas turbine supply constraints are driving new customers to engine technology, but intrinsic benefits are also a key factor.

• Medium-speed engines offer better energy efficiency and are preferred for large-scale projects, with scalability dependent on available space.

• Main competitor Everlands is active in some markets, but engine power plant market share remains high.

• Recent technology advancements include the 46TS platform, improving fuel efficiency and emissions, and a strong service offering with performance-based agreements.