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Research

Wärtsilä: Good performance in a difficult market

By Erkki VesolaAnalyst
Wärtsilä
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Wärtsilä’s Q1 figures landed reasonably close to estimates, although adjusted relative profitability was slightly below expectations. Margins were depressed by weaker sales mix and a strong increase in costs. Wärtsilä’s Q2 guidance was disappointing, but understandable in the current turbulent market situation. Low visibility into demand and earnings drivers led us to cut our estimates for 2022-2024.

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 page

Key Estimate Figures28.04.2022

202122e23e
Revenue4,778.05,375.45,704.8
growth-%3.8 %12.5 %6.1 %
EBIT (adj.)357.0379.4500.5
EBIT-% (adj.)7.5 %7.1 %8.8 %
EPS (adj.)0.400.440.56
Dividend0.240.310.43
Dividend %1.9 %1.0 %1.4 %
P/E (adj.)31.071.455.5
EV/EBITDA16.846.329.8

Forum discussions

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11 hours ago
by Cadel
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News Powered by Cision Wärtsilä ja Siempelkamp Giesserei solmivat strategisen kumppanuuden... Wärtsilä Oyj Abp, lehdistötiedote, 9.12.2025 klo...
yesterday
by Cadel
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News Powered by Cision Wärtsilä's first power plant with synchronous condenser feature to support... Wärtsilä Corporation, Trade press release...
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19
Kauppalehti (currently without a paywall) has a Bloomberg article today about U.S. energy needs. The administration wants to promote gas, coal...
12/7/2025, 8:40 AM
by Koala
8
Significant change in analyses, explains some of the share price movements yesterday/today: “Bank of America höjer Wärtsilä två steg till kö...
12/5/2025, 11:30 AM
by Koala
20
News Powered by Cision Wärtsilä launches new co-research project to advance predictive engine safety Wärtsilä Corporation, News, 4 December ...
12/4/2025, 10:17 AM
by Cadel
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Here are Paul’s good comments from the strategy call organized by Wärre. Wärtsilä held a quarterly webcast on Thursday discussing the company...
11/27/2025, 4:55 PM
by Sijoittaja-alokas
13
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