The CEO of the Finnish multinational, a world leader in the production of marine propulsion and generators, Agnevall: “Robust performance in a difficult context”
Helsinki – Wärtsilä grows in profits and orders. The Finnish multinational, a world leader in the production of marine propulsion and generators, closes the first nine months of 2025 with solid results. In the communication of the company’s performance in the third quarter of 2025, the group highlights that it recorded a 20% increase in operating profit to 582 million euros, equal to 11.9% of revenues, and an operating cash flow growing to 946 million. Total revenue rises 7% to 4.9 billion, while the order book reaches 8.6 billion, up 14% compared to 2024.
In the third quarter, comparable operating profit rose 10% to 195 million, against slightly declining revenues (-5%) mainly due to the timing of deliveries in the Energy business. Earnings per share rise to 0.31 euros (from 0.24) and quarterly operating cash flow reaches 340 million euros.
CEO Håkan Agnevall speaks of “a robust performance in a difficult context”, with orders increasing in both Marine and Energy and “robust performance in a difficult context”.
On the Marine front, after a slow start to the year, the multinational speaks of important signs of recovery thanks to new commercial agreements and the resilience of global traffic. New ship orders remain below the peaks of 2024 but above the ten-year average, and almost half of the new units are prepared for alternative fuels. “Demand for fuel-flexible and hybrid solutions remains very strong – underlines Agnevall – and Wärtsilä is well positioned to accompany shipowners in the transition”.
In the Energy business, global demand remains sustained by electrification, data center expansion, and the spread of renewables, which increase the need for flexible generation capacity. And Wärtsilä is strongly focusing on the use of generators to provide continuity to electricity production from renewable sources, with a focus on the US market. Among the main contracts is the supply of 12 Wärtsilä 50DF engines for a 217 MW plant for the East Kentucky Power Cooperative, intended to strengthen the American electrical grid.
After the one-year postponement of the vote on the adoption of the IMO’s Net Zero Framework, Agnevall warns of the risk of fragmentation in carbon pricing mechanisms, with Europe and China ready to introduce their own systems. “The energy transition in maritime transport will be complex and uneven, but also full of opportunities for those who can offer versatile technologies and low-emission solutions,” says the CEO.
Looking ahead, Wärtsilä forecasts an improving demand in the Marine and Energy Storage sectors over the next 12 months, and stable demand in Energy. The company aims to keep working capital below the historical average and to consolidate the operating margin, which in the last twelve months reached 13.2%, mainly thanks to the good combined performance of Marine and Energy. Agnevall concludes: “We continue to execute our strategy with discipline and to build a resilient foundation for the future, innovating and remaining a reliable partner in the energy and maritime sectors.”
