Wartsila Corp B Shs (WRTBF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, and welcome to this news conference for Wärtsilä Q3 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, continue with the business performance, and after that, our CFO, Arjen Berens, will continue with financials. After the presentation, there is a possibility to ask questions. Håkan, time to start. Thank you, Hanna-Maria. Thank you, and welcome, everybody. and this quarter was a good quarter actually and and we are moving in the right direction but it's also quarter where you need to look a little bit under the hood and i mean first of all operating results and cash flow increased Order intake was stable at around 1.8 billion euro. But if you look at the organic growth, it's actually up 6%. And also, if you look at marine and energy specifically, you see that marine order intake was actually up 8% and energy order intake was up by 29%. The challenge, and I come back to that, is on our battery business, our energy storage business, where the order intake in Q3 for new equipment was basically zero. But marine and energy growing in a good way. This also leads to a strong order book of 8.6 billion euro. Net sales decreased by 5% to 1.6 billion euro. But also there, this is driven primarily by timing of deliveries and energy. So the deliveries and energy will be tilted to the fourth quarter. I'll talk more about that later. Comparable operating results increased by 10%. So we continue our journey to reach our financial targets. And we are now at 11.9% of sales. Operating results increased by 20% to 230 million euro, which corresponds to 14.1% of net sales. And items affecting comparability amounted to 35 million euro, mostly related to the divestment of...