Wärtsilä (WRT1V) Q4 2024 earnings summary

Executive summary

• Achieved all-time highs in order intake, operating result, and cash flow for 2024, with Q4 order intake up 34% year-over-year and net sales up 13%.

• Order book reached a record EUR 8,366 million, up 25% year-over-year, positioning the company strongly for 2025.

• Service business continued robust growth, with double-digit increases in order intake and net sales.

• Strategy focused on decarbonisation and innovation, with major launches in hydrogen-ready and ammonia-fuelled technologies.

• Divestment of Automation, Navigation and Control System (ANCS) business to Solix AB announced, expected to close in Q2 2025.

Financial highlights

• Q4 order intake rose 34% to EUR 2,491 million; full-year order intake up 14% to EUR 8,072 million; organic growth 17%.

• Q4 net sales increased 13% to EUR 1,854 million; full-year net sales up 7% to EUR 6,449 million; organic growth 9%.

• Comparable operating result for Q4 up 18% to EUR 209 million; full-year up 39% to EUR 694 million (10.8% margin); operating result up 78% to EUR 716 million (11.1% margin).

• Earnings per share rose to EUR 0.85 (from EUR 0.44); cash flow from operating activities increased to EUR 1,208 million.

• Dividend proposal of EUR 0.44 per share, representing 52% of EPS.

Outlook and guidance

• Demand environment for both Marine and Energy expected to be better in the next 12 months compared to the previous period, but high external uncertainties remain.

• High external uncertainties, including geopolitical tensions and trade policy risks, make forward-looking statements challenging.