Research
Wärtsilä: Easing off the gas in the price rally

By Erkki VesolaAnalyst
Yesterday, Wärtsilä hosted a mid-Q4 conference that had a positive tone in terms of key demand and profitability drivers. At this stage, our estimates remain unchanged.
Wärtsilä specializes in power solutions for the marine and energy sectors. The business is managed based on several business segments and the range includes integrated system solutions, spare parts, and associated service functions during the installation cycle, but also complete operation and optimization services. The company was originally founded in 1834 and is headquartered in Helsinki, Finland.
Read more on company pageKey Estimate Figures14.11.2022
| 2021 | 22e | 23e | |
|---|---|---|---|
| Revenue | 4,778.0 | 5,851.7 | 6,232.0 |
| growth-% | 3.8 % | 22.5 % | 6.5 % |
| EBIT (adj.) | 357.0 | 369.0 | 471.9 |
| EBIT-% (adj.) | 7.5 % | 6.3 % | 7.6 % |
| EPS (adj.) | 0.40 | 0.50 | 0.52 |
| Dividend | 0.24 | 0.35 | 0.40 |
| Dividend % | 1.9 % | 1.2 % | 1.3 % |
| P/E (adj.) | 31.0 | 60.5 | 57.9 |
| EV/EBITDA | 16.8 | 63.1 | 30.6 |