WARTSILA

Overview

Wärtsilä is a technology company serving the marine and energy sectors, with a business centered on power, propulsion, and lifecycle solutions that support operational efficiency and decarbonisation. Its stated purpose is to enable sustainable societies through innovation in technology and services. The group’s main activities are Wärtsilä Marine, which provides engines, propulsion systems, hybrid technologies, exhaust treatment, shaft line solutions, digital technologies and related lifecycle services for shipping, and Wärtsilä Energy, which provides flexible engine power plants, energy storage, optimisation technology and lifecycle services for power systems; it also has portfolio businesses in automation, navigation and control systems, gas solutions, marine electrical systems, and water and waste solutions.[1]+4

The company has a broad international footprint, with more than 230 locations in 77 countries and about 18,300 employees. Its business is geographically diversified across Europe, the Americas and Asia, and net sales were EUR 6,449 million in 2024, with services accounting for 53% of sales, underscoring the importance of recurring lifecycle support alongside equipment and systems.[1]+2 [1]+6

Products & services

Wärtsilä’s marine products include ship engines, propulsion equipment, electric-propulsion systems, hybrid power packages and exhaust-treatment systems. The Wärtsilä 25 is positioned for mechanical, diesel-electric or hybrid propulsion and is offered in diesel, LNG/NextDF and ammonia variants, with 1.7–3.4 MW output and a modular design.[8] The Wärtsilä 32 is described as a marine engine in the 320 mm cylinder-bore class that is designed for efficient operation, easy maintenance and long maintenance-free periods.[9] Its marine propulsion range also includes propulsors and gears aimed at efficiency, safety and manoeuvrability, while the Wärtsilä HY hybrid solution combines a vessel battery with a conventional engine so the engine can run at optimal load while the battery absorbs load fluctuations and acts as spinning reserve.[10][11] In exhaust treatment, Wärtsilä offers conventional quench and venturi scrubber designs as well as compact inline designs, and it supports open-loop, closed-loop and hybrid SOx scrubber configurations.[12][13]

In energy, Wärtsilä sells engine power plants, energy-storage systems and optimisation software. The Wärtsilä 31SG is a four-stroke, spark-ignited, lean-burn gas-engine generating set for flexible grid capacity and balancing renewables; Wärtsilä says it delivers 8% more power and over 50% efficiency.[14] The Wärtsilä 34SG is another four-stroke, spark-ignited, lean-burn gas genset for flexible baseload and renewable balancing, with a 5.6–9.8 MW power range and 12V, 16V and 20V configurations.[15][16] The 46TS is presented as a next-generation large-bore engine for cost-efficient baseload and renewable balancing; Wärtsilä materials cite 23.4 MW output, 51.3% efficiency, two-minute ramp-up and unlimited starts and shut-downs.[17][18] Its GEMS digital platform monitors, controls and optimises energy assets at site and system level, coordinating storage, renewables and flexible engines.[19]

Service offerings are a major part of the portfolio and include spare parts, field service work, long-term service agreements, and service projects such as engine upgrades, retrofits and installed-base modifications.[20] Marine service products also include data-driven maintenance planning, described as predictive or condition-based maintenance to optimise engine maintenance intervals and lower lifecycle cost, plus lifecycle upgrades such as engine conversions, energy-saving technology, hybridisation and exhaust-treatment upgrades.[21][22] On the energy side, Wärtsilä offers lifecycle solutions, decarbonisation services, OEM spare parts, continuous monitoring, smart maintenance planning and the Wärtsilä Online operations platform.[23][24] Services accounted for 53% of total net sales in 2024, implying products accounted for 47%; installed-base agreement coverage was around 30% and service-agreement renewal exceeded 90%.[25][26] [20]+18

Geographic presence

Wärtsilä is headquartered in Helsinki, Finland, and operates through a global sales and service network of more than 230 locations across 77 countries. Its legal-entity and operating footprint spans Europe, the Americas and Asia, with subsidiaries and operations in countries including Finland, Sweden, the Netherlands and Spain in Europe; Brazil, Canada, Mexico and the United States in the Americas; and China, India, Japan, Singapore, South Korea, the UAE and Vietnam in Asia. Specific locations cited include Vaasa in Finland; Havant in the UK; Porrino in Spain; Suzhou, Wuxi and Shanghai in China; Toyama in Japan; Chesapeake, Virginia in the US; and Khopoli in India.[27]+5

Geographically, net sales are split across Europe at 33%, the Americas at 28%, Asia at 26% and Other regions at 13%. Wärtsilä’s workforce is also concentrated in Europe: total headcount was 18,913, including 11,532 employees in Europe, 4,006 in Asia, 2,514 in the Americas and 861 in Other regions. In percentage terms, 23% of employees were in Finland, 36% elsewhere in Europe, 21% in Asia, 14% in the Americas and 5% in other countries; Finland alone accounted for 4,745 employees.[33]+6 [27]+12

Business segments

In Wärtsilä’s current reporting structure, the official reportable segments are Wärtsilä Marine and Wärtsilä Energy, while Wärtsilä Portfolio Business is reported separately as other business activities; these categories cover both equipment sales and services. Wärtsilä Marine focuses on power, propulsion and lifecycle solutions for the marine market, including engines, propulsion systems, hybrid technology, exhaust treatment, shaft line solutions, digital technologies and integrated powertrain systems. Wärtsilä Energy focuses on flexible engine power plants, energy storage and optimisation technology, and lifecycle services for power installations. Portfolio Business consists of Water & Waste, Marine Electrical Systems, Gas Solutions, and Automation, Navigation and Control Systems, and these units are managed independently to improve performance and pursue divestments or other strategic alternatives. Based on 2024 net sales by business, Marine contributed about 47% of net sales, Energy about 42%, and Portfolio Business about 11%.[39]+5

Wärtsilä also has a recent prior segmentation worth noting. In the 2023 reporting structure, the official reportable segments were Wärtsilä Marine Power, Wärtsilä Marine Systems, and Wärtsilä Energy, with Portfolio Business still reported as other business activities. Marine Power covered engine and propulsion solutions such as engines, generating sets, gearboxes, propulsion equipment, LNG fuel handling, power management and NOx reduction technologies; Marine Systems covered products and lifecycle services related to the gas value chain, shaft line solutions, underwater repairs, and exhaust treatment including carbon capture; and Energy covered flexible power plants plus energy management and storage systems. As of 1 January 2024, Exhaust Treatment and Shaft Line Solutions were transferred into Marine Power, Gas Solutions moved to Portfolio Business, Marine Systems ceased to be a reporting segment, and Marine Power was renamed Marine. On the 2023 basis, the prior segment mix was about 42% Marine Power, 8% Marine Systems, and 43% Energy, based on 2023 net sales.[43]+5 [39]+11

Company history

Wärtsilä was founded on 12 April 1834 as a sawmill in Värtsilä, Northern Karelia. In the 1920s, under president Wilhelm Wahlforss, it expanded into a broader industrial group and entered the marine industry through acquisitions of Finnish shipyards; its headquarters moved to Helsinki in 1935. Wärtsilä’s diesel-engine era began in 1938, and in the 1950s it built out its engine capabilities through licence agreements with Nohab and Sulzer and by developing its own designs, culminating in the first start-up of the Wärtsilä-designed Vasa 14 engine in 1959.[49][50]

In the late 20th century the company expanded its engine business internationally, including the 1989 takeover of Stork Werkspoor B.V. in the Benelux and the 1997 acquisition of New Sulzer Diesel, which added slow-speed engines to its portfolio. In 2000 Metra, by then focused on Wärtsilä NSD, said it would be renamed Wärtsilä, and Ole Johansson was appointed President and CEO. During the 2000s and early 2010s Wärtsilä broadened its marine systems and services offering through acquisitions such as John Crane-Lips in 2002, Hamworthy in 2012, and L-3 Marine Systems International in 2014.[51]+5 [49]+7

Sources

• WARTSILA — Full financial report (2024 Y)
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• WARTSILA — Full financial report (2023 Y)
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