Wartsila Oyj Abp · OMXHEX:WRT1V

Wartsila Oyj Abp — Wartsila Corp B Shs — Q1 2026 Earnings Presentation

37 slides from Wartsila Oyj Abp's earnings presentation, Apr 28, 2026

  1. Slide 1: Result presentation Q1 2026

    Wärtsilä Corporation Result presentation Q1 2026 Håkan Agnevall, President & CEO Arjen Berends, CFO 28 April 2026 1 ©

  2. Slide 2: Double-digit growth in order intake, all-time high order book, and improved operating result

    Double-digit growth in order intake, all-time high order book, and improved operating result ▪ Total order intake increased by 10% to 2,099 MEUR ▪ Order intake increased in Energy and Marine ▪ Energy order intake increased by 56% (Organic growth* 66%) ▪ Marine order intake increased by 9% (Organic g

  3. Slide 3: A strong start to the year with improved profitability

    A strong start to the year with improved profitability MEUR 1–3/2026 1–3/2025 CHANGE Order intake 2,099 1,902 10% of which services 981 992 -1% of which equipment 1,119 910 23% Order book 8,900 8,533 4% of which current year deliveries 4,230* 4,172 Net sales 1,556 1,560 0% of which services 803 884

  4. Slide 4: Key figures for Marine and Energy combined and Energy Storage

    Key figures for Marine and Energy combined and Energy Storage Marine and Energy combined Energy Storage MEUR 1–3/2026 1–3/2025 Change 1–3/2026 1–3/2025 Change Order intake 1,997 1,562 28% 14 31 -53% organic growth* 34% -51% of which services 948 920 3% 14 1 2105% of which equipment 1,050 642 63% 0 3

  5. Slide 5: Marine: Healthier demand and earnings supported the market sentiment in Q1

    Marine: Healthier demand and earnings supported the market sentiment in Q1 The conflict in the Middle East only had a minor impact to Wärtsilä in Q1 ▪ The number of vessels ordered in the review period increased to 549 (235 in the corresponding period in 2025, excluding late reporting of contracts).

  6. Slide 6: Energy market: Increased demand drives energy transition investments

    Energy market: 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 an

  7. Slide 7: Organic order intake increased by 22%

    Organic order intake increased by 22% Order intake increased Equipment Services by 10% 1,600 5,000 1,600 5,000 1,400 4,500 1,400 4,500 • Marine order intake 4,000 4,000 increased by 9% 1,200 1,119 1,200 3,500 3,500 MEUR, 12m rolling MEUR, 12m rolling 1,000 975 910 3,000 1,000 949 992 981 3,000 • Ene

  8. Slide 8: Strong order book development, rolling book-to-bill continues above 1

    Strong order book development, rolling book-to-bill continues above 1 Order book growing despite elimination of approx. 900 MEUR related to the divestments in Portfolio Business 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

  9. Slide 9: Existing order book will generate sales that are 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 Energy Storage 2,600 2,600 2,600 2,400 2,400 2,400 2,200 2,200 2,200 2,000 2,000 2,000 1,800 1,800 1,800 1,600 1,600 1,600 1,

  10. Slide 10: Organic net sales increased by 8%

    Organic net sales increased by 8% Net sales remained stable Equipment Services 1,200 4,000 1,200 4,000 • Marine net sales 1,050 3,500 1,050 3,500 remained stable 900 3,000 900 833 884 3,000 • Energy net sales 803 increased by 12% MEUR, 12m rolling MEUR, 12m rolling 753 750 676 2,500 750 2,500 • Ener

  11. Slide 11: Profitability continued to improve

    Profitability continued to improve Net sales Comparable operating result 2,400 8,000 300 14% 2,100 7,000 Net sales remained stable 12% 250 1,800 6,000 199 10% Comparable operating 1,560 1,556 MEUR, 12m rolling 200 result increased by 16% %, 12m rolling 1,500 5,000 171 1,321 8% MEUR MEUR 1,200 4,000

  12. Slide 12: Technology and partnership highlights

    Technology and partnership highlights Enabling industry decarbonisation Wärtsilä chosen for a major U.S. power plant project addressing critical energy demand driven by data centre development • Wärtsilä has been awarded an order to supply engines for an American power plant owned and operated by an

  13. Slide 13: All Portfolio Business divestments expected to be completed latest in Q3/2026

    All Portfolio Business divestments expected to be completed latest in Q3/2026 Gas Solutions ▪ In December 2025, Wärtsilä announced that it had agreed to divest its Gas Solutions business to Mutares SE & Co. KGaA. ▪ Annual revenue in 2025 was EUR ~390 million ▪ Subject to approvals, the transaction i

  14. Slide 14: Marine

    © WARTSILA Marine 14 © WARTSILA

  15. Slide 15: Marine: Order intake and comparable operating result increased

    Marine: Order intake and comparable operating result increased Service order intake increased by 4% supported by higher activity in agreements Order intake +9% Comparable operating result Comparable operating result 1,200 4,000 MEUR 1,025 140 14.0% 916 937 MEUR, 12m rolling 900 3,000 120 12.0% MEUR

  16. Slide 16: Overall Marine service book-to-bill above 1

    Overall Marine service book-to-bill above 1 Rolling 12-month book-to-bill ratios remains above 1 in all service disciplines, excluding retrofits and upgrades Marine service, Net sales Marine service, Book-to-bill 700 +7% CAGR 2,800 1.60 600 2,400 1.40 500 2,000 12m rolling book-to-bill 400 1,600 1.2

  17. Slide 17: Energy

    &, WARTSILA = Energy 7 © WARTSILA

  18. Slide 18: Energy: Order intake, net sales and comparable operating result improved

    Energy: Order intake, net sales and comparable operating result improved All-time high quarterly order intake in Wärtsilä Energy business Order intake +56% Comparable operating result Comparable operating result 1,200 4,000 973 120 16.0% MEUR 12m rolling MEUR, 12m rolling 900 3,000 7.3% 625 14.0% ME

  19. Slide 19: Overall Energy service book-to-bill above 1

    Overall Energy service book-to-bill above 1 Strong growth in service agreements and retrofits and upgrades Energy service, Net sales Energy service, Book-to-bill 400 +2% CAGR 1,800 1.60 350 1,600 1,400 1.40 300 12m rolling book-to-bill 1,200 250 1.20 1,000 MEUR 200 800 150 1.00 600 100 400 0.80 50 2

  20. Slide 20: Energy Storage

    Pa WARTSILA Energy Storage 20 © WARTSILA

  21. Slide 21: Energy Storage: Comparable operating result increased

    Energy Storage: Comparable operating result increased No equipment order intake in Q1, however, the business is lumpy by nature Order intake -53% Comparable operating result Comparable operating result 800 1,200 25 6.0% MEUR MEUR, 12m rolling 600 900 5.0% 20 MEUR 400 600 236 + Solid project 4.0% 200

  22. Slide 22: Comparable operating result improved – supported by good development in all businesses

    Comparable operating result improved – supported by good development in all businesses 225 11.4% 5.0% (6.9) 12.8% 14.7% (-3.8) 200 13.0% (15.2) 5 Comparable operating (12.0) 10 11.0% 5 result increased by 16% 175 7 150 125 MEUR 100 199 171 75 50 25 0 Comparable Marine Energy Energy Storage Portfolio

  23. Slide 23: Other key financials

    S < = Yn & < = | Other key financials © WART:

  24. Slide 24: Working capital remains at an exceptionally low level

    Working capital remains at an exceptionally low level MEUR 1–3/2026 1–3/2025 Cash flow from operating activities 7 190 Working capital -1,139 -770 Net interest-bearing debt -1,567 -817 EBITDA 236 207 Return on capital employed (ROCE), %* 63.8 40.6 Gearing -0.65 -0.34 Solvency, % 35.0 35.2 Earnings p

  25. Slide 25: Cash flow from operating activities decreased, primarily due to increased working capital

    Cash flow from operating activities decreased, primarily due to increased working capital from an exceptionally low level Cash flow from operating activities Working capital to net sales ratio 1,000 2,000 400 4.0% 900 1,800 200 2.0% 800 1,600 0 0.0% 700 1,400 -200 -2.0% MEUR, 12m rolling 600 1,200 -

  26. Slide 26: Solid progress towards financial targets in Marine and Energy combined

    Solid progress towards financial targets in Marine and Energy combined Marine and Energy combined Energy Storage Net sales and operating margin %, last 12 months Net sales and operating margin %, last 12 months Marine and Energy Organic Organic combined financial growth -20% 6,000 growth +13% 16.0%

  27. Slide 27: Outlook

    Outlook Marine Wärtsilä expects the demand environment for the next 12 months (Q2/2026-Q1/2027) to be similar to that of the comparison period. Energy Wärtsilä expects the demand environment for the next 12 months (Q2/2026-Q1/2027) to be better than in the comparison period. Energy Storage Wärtsilä

  28. Slide 28: Q&A

    Q&A 28 ©

  29. Slide 29: Save the Date: Wärtsilä Capital Markets Day

    Save the Date: 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

  30. Slide 30: Appendix

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  31. Slide 31: Order intake

    Order intake First quarter development 4% 1% (16) (2) Order Order Marine intake Energy intake 47% 49% Services Energy Storage by (52) by (49) 53% Equipment 46% business Portfolio Business business (33) (48) type 31 ©

  32. Slide 32: Net sales

    Net sales First quarter development 10% (12) 7% (8) Net sales Marine Net sales Energy 48% by Services by Energy Storage 52% 53% (43) business Equipment business (53) Portfolio Business (57) type 30% (27) 32 ©

  33. Slide 33: First quarter order intake development by business type

    First quarter order intake development by business type 26% Order intake growth, % 1-3/2026 1-3/2026 (29) reported organic 40% Marine change change (37) MEUR Group order intake 10% 22% 1,025 (937) of which services -1% 9% 15% of which equipment 23% 36% (15) Marine order intake 9% 13% 14% 7% (25) (8)

  34. Slide 34: First quarter net sales development by business type

    First quarter net sales development by business type 29% Net sales growth, % 1-3/2026 1-3/2026 (30) reported organic 38% (36) Marine change change MEUR 820 Group net sales 0% 8% (827) of which services -9 % -1% of which equipment 11 % 20% 16% 26% 6% (15) Marine net sales -1% 2% (32) (8) 10% (11) Spa

  35. Slide 35: January–March order intake by customer segment

    January–March order intake by customer segment Marine Gas carriers Cruise & ferry Offshore Navy Special vessels Merchant Other Equipment 10% (6) 32% (9) 11% (5) 10% (8) 9% (6) 23% (62) 4% (5) Services 15% (12) 24% (22) 17% (15) 10% (8) 10% (12) 24% (31) 1% (1) Total 13% (10) 27% (17) 15% (11) 10% (8

  36. Slide 36: January–March orders received for Energy equipment globally

    January–March orders received for Energy equipment globally Europe 0 (5) Americas Asia 520 (292) 24 (1) Utilities Africa and IPP’s Middle (Independent East Power Producers) 99 (0) Industrials Others Equipment order intake 1–3/2026: MEUR 644 (298) 36 ©

  37. Slide 37: WARTSILA

    °C, WARTSILA

Wartsila Corp B Shs — Q1 2026 Earnings Presentation on 6ix