Wartsila Oyj Abp · OMXHEX:WRT1V
Wartsila Oyj Abp — Wärtsilä — Q3 2026 Earnings Presentation
33 slides from Wartsila Oyj Abp's earnings presentation, Oct 27, 2026
Slide 1: Result presentation Q3 2026
Wärtsilä Corporation Result presentation Q3 2026 Håkan Agnevall, President & CEO Arjen Berends, CFO 27 October 2026 1 ©
Slide 2: Increased profitability and continued strong order intake momentum
Increased profitability and continued strong order intake momentum ▪ Order intake increased by 33% to 2,368 MEUR ▪ Service order intake increased by 11% to 950 MEUR ▪ All-time high order book of 9,876 MEUR ▪ Service 12m rolling book-to-bill ratio above one at 1.10 ▪ Net sales increased by 7% to 1,49
Slide 3: Good development in key figures
Good development in key figures MEUR 7–9/2026 7–9/2025 CHANGE 1–9/2026 1–9/2025 CHANGE Order intake 2,368 1,779 33% 7,302 5,790 26% of which services 950 854 11% 2,799 2,765 1% of which equipment 1,418 925 53% 4,503 3,026 49% Order book 9,876 8,064 22% of which current year deliveries 1,642 1,570 Ne
Slide 4: Marine: Market sentiment remains supportive in Wärtsilä's key segments
Marine: Market sentiment remains supportive in Wärtsilä’s key segments Shipping markets remained resilient despite macroeconomic headwinds caused by the Middle East conflict • The number of vessels ordered in the review period increased to 2,552 (1,200 in the corresponding period in 2025, excluding
Slide 5: Energy: Increased demand drives energy transition investments
Energy: Increased demand drives energy transition investments Electricity demand growth and future projections have increased substantially, creating market opportunities for equipment providers ▪ Two key themes have stood out in recent energy-related macroeconomic development: load growth and incre
Slide 6: Organic order intake increased by 41%
Organic order intake increased by 41% Equipment Services Order intake increased by 2,000 6,000 2,000 6,000 33% 1,800 1,800 5,500 5,000 5,000 • Marine order intake 1,600 1,418 1,600 4,500 remained stable 1,400 1,400 MEUR, 12m rolling MEUR, 12m rolling 4,000 4,000 1,200 1,200 3,500 • Energy order inta
Slide 7: Strong order book development, rolling book-to-bill continues well above 1
Strong order book development, rolling book-to-bill continues well above 1 Order book at an all-time high driven by Energy Order book by business Order book delivery schedule 10,000 1.8 4,500 9,000 1.6 4,000 8,000 1.4 3,500 7,000 1.2 3,000 6,000 1.0 MEUR 5,000 2,500 MEUR 0.8 4,000 2,000 0.6 3,000 1,
Slide 8: Existing order book will generate sales distributed further into the future
Existing order book will generate sales that are distributed further into the future Distribution in time of the deliveries of the existing order backlogs, MEUR Marine Energy 3,000 3,000 2,800 2,800 2,600 2,600 2,400 2,400 2,200 2,200 2,000 2,000 1,800 1,800 1,600 1,600 MEUR MEUR 1,400 1,400 1,200 1
Slide 9: Organic net sales increased by 16%
Organic net sales increased by 16% Equipment Services Net sales increased by 7% 1,200 4,000 1,200 4,000 • Marine net sales 1,050 3,500 1,050 3,500 increased by 5% 911 900 3,000 900 807 815 802 3,000 • Energy net sales MEUR, 12m rolling MEUR, 12m rolling 750 691 2,500 750 2,500 increased by 52% 582 M
Slide 10: Profitability continued to improve
Profitability continued to improve Net sales Comparable operating result 2,400 8,000 300 16% 2,100 7,000 14% Net sales increased by 7% 250 1,800 1,718 6,000 212 12% Comparable operating MEUR, 12m rolling 1,493 200 177 179 result increased by 19% %, 12m rolling 1,500 1,397 5,000 10% MEUR MEUR 1,200 4
Slide 11: Technology and partnership highlights
Technology and partnership highlights Enabling industry decarbonisation Wärtsilä to deliver engines for Australia's largest-ever engine power plant to support the country's energy transition • Flexible and highly efficient Wärtsilä 46TS engines to be supplied for Australia’s largest-ever reciprocati
Slide 12: Marine
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Slide 13: Marine: Comparable operating result increased
Marine: Comparable operating result increased Equipment order intake declined due to periodisation of orders, while service order intake remained stable Order intake Comparable operating result Comparable operating result -2% MEUR 2,000 5,000 160 16.0% MEUR, 12m rolling 4,000 1,500 + Better 140 13.0
Slide 14: Overall Marine service book-to-bill above 1
Overall Marine service book-to-bill above 1 Marine service order book increased by 10% compared to Q3/2025 Marine service, Net sales Marine service, Book-to-bill 700 +6% CAGR 2,800 1.60 600 2,400 1.40 500 2,000 12m rolling book-to-bill 400 1,600 1.20 MEUR 300 1,200 1.00 200 800 0.80 100 400 0 0 0.60
Slide 15: Energy
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Slide 16: Energy: Order intake, net sales and comparable operating result all increased
Energy: Order intake, net sales and comparable operating result all increased Equipment order intake increased supported by strong demand from data centre and balancing applications Order intake Comparable operating result Comparable operating result +121% MEUR 2,000 6,000 180 18.0% 1,421 5,000 MEUR
Slide 17: Overall Energy service book-to-bill above 1
Overall Energy service book-to-bill above 1 Energy service order book increased by 28% compared to Q3/2025 Energy service, Net sales Energy service, Book-to-bill 400 +4% CAGR 1,800 2.50 350 1,600 1,400 300 2.00 12m rolling book-to-bill 1,200 250 1,000 MEUR 200 800 1.50 150 600 100 400 1.00 50 200 0
Slide 18: The comparable operating result improved
The comparable operating result improved 250 17.5% (15.9) 225 14.2% -10 Comparable operating 200 12.1% 40 result increased by 19% (12.4) 12.8% 3 175 150 MEUR 125 212 100 179 75 50 25 0 Comparable operating Marine Energy Portfolio Business Comparable operating result Q3/25 result Q3/26 18 ©
Slide 19: Other key financials
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Slide 20: Working capital remains at an exceptionally low level
Working capital remains at an exceptionally low level MEUR 7–9/2026 7–9/2025 1–9/2026 1–9/2025 Cash flow from operating activities 583 340 1,087 946 Working capital -1,649 -1,091 Net interest-bearing debt -2,165 -1,415 EBITDA 262 253 733 706 Return on capital employed (ROCE), %* 94.1 51.1 Gearing -0
Slide 21: Cash flow from operating activities increased
Cash flow from operating activities increased Cash flow from operating activities Working capital to net sales ratio 1,000 2,000 400 4.0% 900 1,800 200 2.0% 0 0.0% 800 1,600 -200 -2.0% 700 1,400 -400 -4.0% MEUR, 12m rolling 583 -600 -501 -6.0% 600 1,200 -800 -8.0% MEUR MEUR 500 1,000 -1,000 -10.0% 4
Slide 22: Marine and Energy combined operating margin target has been reached
Marine and Energy combined operating margin target has been reached Financial targets Marine and Energy combined Group • 5% annual organic growth • Gearing below 0.5 • 14% operating margin • Distribute a dividend of at least 50% of earnings Marine and Energy combined Group Group Net sales and operat
Slide 23: Outlook
Outlook Marine Wärtsilä expects the demand environment for the next 12 months (Q4/2026-Q3/2027) to be similar to that of the comparison period. Energy Wärtsilä expects the demand environment for the next 12 months (Q4/2026-Q3/2027) to be similar to that of the comparison period. Following high order
Slide 24: Q&A
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Slide 25: Wärtsilä Capital Markets Day
Wärtsilä Capital Markets Day Date: 3 November 2026 Time: 14:00-17:30 EET Place: In Helsinki, Finland and via live webcast The event will be hosted by President and CEO Håkan Agnevall, together with members of Wärtsilä’s Board of Management. The Capital Markets Day will be followed by a site visit to
Slide 26: Appendix
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Slide 27: Order intake
Order intake Third quarter development 0% (9) 40% Order 40% Order (48) (55) Marine intake intake Services Energy by Equipment by Portfolio Business business business 60% 60% type (36) (52) 27 ©
Slide 28: Net sales
Net sales Third quarter development 0% (10) 39% (27) Net sales Net sales Marine 46% Services by by Energy (42) Equipment business Portfolio Business business 54% type (58) 61% (62) 28 ©
Slide 29: Third quarter order intake development by business type
Third quarter order intake development by business type 7-9/2026 7-9/2026 reported organic 26% (23) Order intake growth, % change change Marine Group order intake 33% 41% 44% (45) MEUR 947 of which services 11% 13% (970) of which equipment 53% 66% 15% (14) Spare parts Marine order intake -2% -3% 8%
Slide 30: Third quarter net sales development by business type
Third quarter net sales development by business type 7-9/2026 7-9/2026 26% reported organic (27) Net sales growth, % change change Marine Group net sales 7% 16% 44% (41) MEUR 913 of which services -2% 0% (870) 15% of which equipment 19% 39% (14) Marine net sales 5% 4% Spare parts 6% 9% (9) (8) Field
Slide 31: January–September order intake by customer segment
January–September order intake by customer segment Marine Gas carriers Cruise & ferry Offshore Navy Special vessels Merchant Other Equipment 8% (7) 26% (34) 10% (7) 11% (13) 6% (5) 36% (30) 3% (4) Services 12% (12) 22% (25) 18% (15) 12% (9) 10% (11) 25% (26) 1% (1) Total 10% (10) 24% (29) 15% (12) 1
Slide 32: January–September orders received for Energy equipment globally
January–September orders received for Energy equipment globally Europe 0 (5) Americas 2,619 (931) Asia 243 (7) Utilities Africa and IPP’s Middle (Independent East Power Producers) 137 (315) Industrials Others Equipment order intake 1–9/2026: MEUR 2,998 (1,258) 32 ©
Slide 33: WARTSILA
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