Wärtsilä: Slow and steady wins the race

WRT1VResearch01.02.2023, 10.27

Inderes

Wärtsilä's Q4 figures were quite close to our expectations, slightly below consensus. The company's comments on its own 2023 demand outlook were quite positive.

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.

Key Estimate Figures31.01.2023

	2022	23e	24e
Revenue	5,841.5	6,351.6	6,888.4
growth-%	22.3 %	8.7 %	8.5 %
EBIT (adj.)	325.0	493.4	583.8
EBIT-% (adj.)	5.6 %	7.8 %	8.5 %
EPS (adj.)	0.48	0.58	0.68
Dividend	0.26	0.40	0.50
Dividend %	3.3 %	1.5 %	1.9 %
P/E (adj.)	16.3	44.7	38.2
EV/EBITDA	21.8	26.5	22.1

Forum discussions

It’s pretty wild that the company is growing both earnings and revenue by 20%, and orders by 47% in marine and energy. Plus, based on the guidance...

14 minutes ago

by Moihe

The market reaction is beyond me once again. We’ve slid down from €40 to €28, and on great outlooks we take an even deeper dip. Hard to see ...

20 minutes ago

by Tunturisusi

Pretty quiet in here, though I’m definitely still digesting this Q3 myself here in my home office. The CMD on Nov 3rd is going to be interesting...

22 minutes ago

Here is a quick comment from Pauli on this morning’s results. Wärtsilä reported its Q3 results today. Order intake exceeded both our and consensus...

1 hour ago

by Sijoittaja-alokas

Inderes Wärtsilä Corporation: Wärtsilän tammi-syyskuun Osavuosikatsaus 2026 - Inderes Wärtsilä Oyj Abp, Osavuosikatsaus tammi-syyskuu 2026, ...

2 hours ago

by Sijoittaja

Wärtsilä’s Q3 earnings live stream starts today hosted by Pauli at 8:25 AM Inderes Wärtsilä Q3'26 -tuloslive ti 27.10. klo 8:25 - Inderes Aika...

3 hours ago

by Sijoittaja-alokas

News Powered by Cision Wärtsilän kaasukonversioratkaisu varmisti 10-vuotisen... Wärtsilä Oyj Abp, lehdistötiedote, 26.10.2026 klo 12 Teknologiayhti...

23 hours ago

by Cadel

Wärtsilä: Slow and steady wins the race

WRT1VResearch01.02.2023, 10.27

Inderes

Discuss

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Wärtsilä's Q4 figures were quite close to our expectations, slightly below consensus. The company's comments on its own 2023 demand outlook were quite positive.

Key Estimate Figures31.01.2023

	2022	23e	24e
Revenue	5,841.5	6,351.6	6,888.4
growth-%	22.3 %	8.7 %	8.5 %
EBIT (adj.)	325.0	493.4	583.8
EBIT-% (adj.)	5.6 %	7.8 %	8.5 %
EPS (adj.)	0.48	0.58	0.68
Dividend	0.26	0.40	0.50
Dividend %	3.3 %	1.5 %	1.9 %
P/E (adj.)	16.3	44.7	38.2
EV/EBITDA	21.8	26.5	22.1