Finland's Wartsila tops estimates for quarterly orders as electricity demand grows

Wartsila Oyj Abp

21/07/2026 07:16

July 21 (Reuters) - Finnish engineering group Wartsila WRT1V.HE beat market expectations for second-quarter order intake on Tuesday, supported by record orders in its main Energy and Marine businesses, as electricity demand continued to grow and the seafaring market remained resilient in the face of geopolitical uncertainty.
Electricity demand was powered by electrification, rising cooling needs and the rapid build-out of data centres, Wartsila said. In the marine segment, longer voyage distances and trade rerouting supported demand for ships.
Quarterly order intake rose 33% year-on-year to €2.85 billion ($3.25 billion). Analysts polled by Vara were expecting new orders worth €2.54 billion on average.
"We achieved an all-time high order intake, while further improving profitability" — CEO Hakan Agnevall
Wartsila, which builds ship engines and power plants, sees broadly stable demand in Energy and Marine units in the next 12 months.
The U.S.-Israeli war with Iran has increased volatility in energy and commodity markets, clouding the global economic outlook, Agnevall said.
He had previously said the Middle East crisis had so far had a limited impact on Wartsila's business.
($1 = 0.8759 euros)

(Reporting by Marta Frąckowiak in Gdansk, editing by Milla Nissi-Prussak)
((marta.frackowiak@thomsonreuters.com))