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Research

Wärtsilä: Well-equipped to move forward

By Erkki VesolaAnalyst
Wärtsilä
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Wärtsilä's Q2 order intake and net sales figures landed on both sides of estimates. Profitability was a significant positive surprise. The market outlook remained flat, as expected, but the company has several positive profitability drivers for the near term.

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.

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Key Estimate Figures23.07.2023

202223e24e
Revenue5,843.06,664.97,285.9
growth-%22.3 %14.1 %9.3 %
EBIT (adj.)324.0469.0648.6
EBIT-% (adj.)5.5 %7.0 %8.9 %
EPS (adj.)0.470.510.74
Dividend0.260.380.50
Dividend %3.3 %1.5 %2.0 %
P/E (adj.)16.748.333.3
EV/EBITDA21.725.018.2
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