Wartsila’s latest financial figures reveal that across the whole company order intake increased by 34% and operating result increased by 80% to €229m.
In marine, Wärtsilä expects the demand environment for the next 12 months to be better still than that of the comparison period, although the current high external uncertainties make forecasting challenging.
Håkan Agnevall, President and CEO said: “In 2024 Wärtsilä took firm steps towards our targets, and we continued to develop positively in many ways. We achieved all-time highs in order intake, absolute operating result and cash flow from operating activities. During 2024, we also significantly enhanced the profitability of all businesses. In the marine market, the growth in global trade volumes combined with a shift in trade flows resulted in a significant boost to demand for ship capacity in 2024. This, coupled with a growing pressure to decarbonise operations, supported the demand for both newbuilds and service. Investments in new ships were clearly above the levels seen in 2023, and we saw a healthy pickup in interest towards alternative fuels, which now accounted for 49% of the capacity of contracted vessels. Despite the efforts to increase shipyard capacity and output especially in China but also in South Korea, shipyard capacity utilisation rates remain high and shipyard orderbooks remain long, indicating that a shortage of yard capacity still exists.”
Image: Håkan Agnevall, Wärtsilä President and CEO (source: Wärtsilä)
