Wärtsilä (WRT1V) Q4 2025 earnings summary

Executive summary

• Achieved all-time high operating profit, cash flow, order intake, and net sales for Q4 and full-year 2025, with strong performance in Marine and Energy segments, while Energy Storage faced significant challenges.

• Streamlined business portfolio through divestments, with major units sold and further divestments planned.

• Continued focus on innovation, technology, and services, with notable progress in data center and ammonia engine orders, and decarbonisation technologies.

• Expanded production capacity and R&D, including major investments in Finland and the Netherlands.

• Recognized by Forbes as a top 1,000 global employer, reflecting positive cultural and engagement trends.

Financial highlights

• Q4 net sales increased by 8% to EUR 2,002 million; full-year net sales up 7% to EUR 6,914 million, with organic growth of 11% year-over-year.

• Comparable operating result for Q4 up 23% to EUR 256 million (12.8% margin); full-year up 20% to EUR 829 million (12.0% margin).

• Operating result for Q4 up 10% to EUR 251 million; full-year up 16% to EUR 833 million (12.1% margin).

• Operating cash flow reached EUR 652 million in Q4 and EUR 1,598 million for the year, both all-time highs.

• Earnings per share at an all-time high of EUR 1.06.

Outlook and guidance

• Marine demand expected to remain strong and similar to the previous year over the next 12 months.

• Energy and Energy Storage demand environments anticipated to improve, driven by data centers and balancing power, but Energy Storage faces geopolitical and tariff risks.

• High external uncertainties, including geopolitical and macroeconomic factors, make forward-looking statements challenging.