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

Wartsila Oyj Abp

21/07/2026 08:38

Adds CEO comments in bullet points

    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.

        Agnevall told Reuters the Middle East crisis had so far had a limited impact on Wärtsilä's business, reaffirming comments he made in April.
      

        Wärtsilä had taken measures to protect margins as the company 
        expands
        , including locking in prices for key materials, shifting suppliers and passing higher costs on to customers through price increases, Agnevall told Reuters.
      

        Agnevall told Reuters RCT Solutions would bring international expertise in the solar and battery industries to Wärtsilä's Energy Storage 
        joint venture
        .
      

        Shares were down about 3% in early trading.
      
($1 = 0.8759 euros)

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