Wärtsilä sees 14% net sales growth in first half

Wärtsilä has released a summary of its Half-year Financial Report January-June 2025, including second quarter (April to June) results. The company reported a net sales increase of 14%, to EUR 3,279 million (2,877), for the half of the year, with Q2 seeing an increase of 11% to EUR 1,719 million (1,556).

The operating result was up 19% to EUR 352 million (295), or 10.7% (10.2) of net sales, from January to June, and 11% to EUR 186 million (186), or 10.8% (10.8) of net sales, from April to June.

Order intake also grew for both periods, rising 8% to EUR 4,092 million (3,778) for the first half and 18% to EUR 2,190 million (1,854) for the quarter. Service order intake fell 6% to EUR 926 million (982) in the second quarter but remained stable for the half year at EUR 1,918 million (1,931).

Wärtsilä expects the demand environment for Marine over the next 12 months (Q3/2025-Q2/2026) to improve and Energy to remain similar to that of the comparison period. Demand for Energy Storage is expected to be better; however, the company noted that the current geopolitical uncertainty particularly impacts this business and may affect growth.

In general, Wärtsilä underlined that the current high external uncertainties make forward-looking statements challenging. Due to high geopolitical uncertainty, the changing landscape of global trade and the lack of clarity related to tariffs, there are risks of postponements in investment decisions and of global economic activity slowing down.

“The second quarter of 2025 was strong for Wärtsilä, with increases in order intake, net sales, operating result and cash flow. We ended the quarter with an all-time-high order book of EUR 8,764 million,” said Hakan Agnevall, president and CEO, Wärtsilä. “However, the global economic outlook remained uncertain due to increased trade barriers and policy uncertainty. This, combined with the risk of further protectionism, could add to inflationary pressures and dampen growth in global economic activity.”

In the energy market, Agnevall cited the rising global electricity demand continuing to support the demand for Wärtsilä’s balancing power offering, which includes both engine power plants and battery energy storage systems. “However, the U.S. market for battery energy storage is currently facing challenges due to increased tariffs, leading to heightened competition in other markets.

“Baseload generation remains a consistent source of demand for engine power plants, particularly in remote areas and locations where grid power access is uncertain or time sensitive,” Agnevall added. ”Our medium-speed engines also provide an excellent baseload solution for data centers, a rapidly expanding market with unique power requirements.”

He went on to state that in the marine market, the uncertain global economic outlook has dampened demand for new ship capacity in 2025, leading to mixed market conditions across many vessel segments. However, he said that “activity in Wärtsilä’s key segments, such as cruise and ferry, remains supportive.”

Wärtsilä intends to play an important role in the maritime industry’s decarbonization efforts, as exemplified by its launch of a carbon capture solution during the second quarter, Agnevall pointed out. The technology is meant to support the ongoing efforts to reduce vessel emissions and avoid stranded assets.

“We are making continued progress towards our financial targets, driven by our focus on supporting our customers towards a marine and energy future that is both environmentally sustainable and financially viable,” Agnevall concluded. “Our strong financial position, industry-leading offering and mindset of continuous improvement equip us to navigate future challenges and capture the many opportunities offered by the decarbonization transformation.”