Wartsila

Wärtsilä Corporation (HEL: WRT1V) is a global leader in smart technologies and complete lifecycle solutions for the marine and energy markets. The company emphasizes sustainable innovation, total efficiency, and data analytics to maximize the environmental and economic performance of vessels and power plants for its customers. Wärtsilä was listed on the Helsinki Stock Exchange and has a workforce of approximately 17,500 professionals operating in more than 240 locations across 79 countries. In 2022, Wärtsilä reported net sales of EUR 5.8 billion.

Wärtsilä's product and service portfolio includes:

• Marine Solutions: Provides technologies, products, and lifecycle solutions for the maritime industry, including engines, propulsion systems, and integrated systems.

• Energy Solutions: Offers flexible power plants, energy management systems, and storage solutions for the energy market.

• Services: Supports both marine and energy customers with a broad range of services throughout the lifecycle of their installations.

• Smart Technology Hub: A new center for research, product development, and production in Vaskiluoto, Vaasa, focused on developing solutions for the maritime, oil and gas industries, and new energy systems.

As of January 2024, Wärtsilä has simplified its organizational structure, now operating with two main reporting segments: Marine and Energy. The company is streamlining its marine business portfolio by planning to divest its Gas Solutions business unit, which had net sales of EUR 293 million in the 12-month period from Q4 2022 to Q3 2023. Wärtsilä is also moving its Exhaust Treatment and Shaft Line Solutions business units from Marine Systems to Marine Power, which will be renamed Wärtsilä Marine. These changes align with Wärtsilä's vision for a decarbonized smart marine sector and a 100% renewable energy future, reflecting its commitment to sustainable technology and services.