Wartsila Corp B Shs (WRTBF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, and welcome to this news conference for Wärtsilä Q1 2026 results. My name is Hanna-Maria Heikkinen, and I'm in charge of investor relations. Today, our CEO, Håkan Agneval, will start with a group highlight. He will also go through business performance. And after that, our CFO, Arjen Berens, will continue with key financials. After the presentation, there is plenty of time for Q&A. Håkan, please, time to start. Thank you, Hanna-Maria, and welcome to our Q1 report. I'm joining you today from Shanghai, so it's a pleasure to be here in China. As you know, China accounts for more than half of the world's shipbuilding capacity, so it's a highly relevant place for us to be as . But if we start with the first quarter, I would say we have a strong start of the year, both in marine and energy. We start good in 2026. So if we look at the summary, double digit growth in order intake, all-time high order book, and continuously improved operating results. So the total order intake increased by 10% to 2.1 billion euro. In this quarter, we will also talk a lot about organic growth, because you have seen or you will see that our both water intake and sales has been heavily affected by FX, by exchange rate, and also the fact that we have divested assets in portfolio business. So some of these numbers are good, but they look even greater when you look at the organic side, so to say. Order intake increased in energy in marine. Energy order intake increased by 56%. But if you exclude FX, organic growth is at 66%. Marine order intake increased by 9%. But once again, organic was even higher, 13%. All-time high order book of 8.9 billion euro. And service, we know how important it is for Wärtsilä. The order intake on the organic side was up with 9%. Strong number. Then, of cour...