Wartsila Corp B Shs (WRTBF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to this news conference for Wärtsilä Q2 2025 results. My name is Hanna-Maria Heikkinen and I'm in charge of investor relations. Today our CEO Håkan Agneval will start with the group highlights. He will continue with the business performance and after that our CFO Arjen Behrends will continue with the key financials. After the presentation there is good time for Q&A. Please, Håkan, time to start. Yes, thank you, Hanna-Maria. And a warm welcome to everybody online. If we sum up the whole quarter, it's been a very strong quarter for Wärtsilä. Order intake, net sales, operating results and cash flow, all increased. So order intake increased by 18% to 2.2 billion euro, which led us into an all-time high order book of close to 8.8 billion euro. Net sales went up with 11% to 1.7 billion euro. And we continue to improve our operating margin and comparable operating results increased by 18%, 207 million euro and we are now at 12% of net sales. And on the operating results, we increased it by 11% to 186 million euro, reaching a 10.8% level. Services, we still continue to have solid performance in services. Yes, I know the order intake is down a little bit, but I will comment more later on, so to say. Still solid performance in services. In particular, we continue the positive journey on the agreement side. So service agreements was up with 48%, and on the net sales for service agreements is up 9%. And cash flow, I am going to talk more about it, strong cash flow, 460 million euro. If we look at our summary of all the numbers, We can look at them from this perspective, so focusing on the second quarter. Order intake up 18%, so 2.2 billion euro. And you can see that it's primarily driven by equipment. Up 45%, both marine and energy, specifically a lot in...