Sales up, but Russia takes bite out of profits for Wärtsilä

Jack Burke Senior Editor, Compressor Tech2

28 April 2022

Covid, Russia’s invasion of Ukraine challenge markets

Wärtsilä saw net sales increase 30% in the first quarter, but the company lost money in large part because of a writedown of Russian assets as it plans to leave that country.

Chief Executive Håkan Agnevall reported the company’s comparable operating profit increased 61% to 65 million euros. Net sales…

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