Wartsila Oyj AbpOMXHEX: WRT1V

Result presentation Q2 2026

Jul 21, 2026 at 5:47 AM UTC · MarketScreener

Watch Wartsila Oyj Abp explain itWartsila Corp B Shs (WRTBF) Q2 2026 Earnings Call · Replay · Jul 21

‌Wärtsilä Corporation

Result presentation Q2 2026

Håkan Agnevall, President & CEO Arjen Berends, CFO

21 July 2026

‌All-time high order intake and improved operating result

Total order intake increased by 33% to 2,849 MEUR to an all-time high quarter
- All-time high quarterly order intake in Energy of 1,661 MEUR
- All-time high quarterly order intake in Marine of 1,152 MEUR
All-time high order book of 8,976 MEUR
- Since the start of 2025, Energy order book has more than doubled, while the gross margin of the Energy equipment order book has improved by 500+ bps
Marine and Energy combined service order book increased by 11%, ending up with an all-time high of 2,602 MEUR
Service 12m rolling book-to-bill ratio above one at 1.07
Net sales remained stable at 1,559 MEUR
Comparable operating result increased by 7% to 218 MEUR
- 14.0% of net sales
Operating result increased by 14% to 209 MEUR
- 13.4% of net sales
Cash flow from operating activities amounted to 497 MEUR
Return on capital employed (ROCE) was 73%

2 ©

‌Record-high orders drive a strong quarter

Comparative figures have been restated following Energy Storage classification as discontinued operations

MEUR	4-6/2026	4-6/2025	CHANGE	1-6/2026	1-6/2025	CHANGE
Order intake	2,849	2,140	33%	4,934	4,012	23%
of which services	882	920	-4%	1,849	1,911	-3%
of which equipment	1,967	1,220	61%	3,085	2,101	47%
Order book				8,976	7,963	13%
of which current year deliveries				2,633	2,769
Net sales	1,559	1,594	-2%	3,004	3,027	-1%
of which services	845	900	-6%	1,642	1,780	-8%
of which equipment	714	694	3%	1,362	1,247	9%
Book-to-bill	1.83	1.34		1.64	1.33
Comparable operating result	218	203	7%	411	379	8%
% of net sales	14.0	12.7		13.7	12.5
Operating result	209	183	14%	399	354	13%
% of net sales	13.4	11.5		13.3	11.7

Following the classification of Energy Storage as assets held for sale and discontinued operations in June 2026 and its discontinuation as a reportable segment, comparative financial information for 2025 and H1 2026 has been restated.

‌Marine: Market sentiment remains supportive in Wärtsilä's key segments

Shipping markets remained resilient despite macroeconomic headwinds caused by the Middle East conflict

WAKTSlLA

The number of vessels ordered in the review period increased to 1,483 (647 in the corresponding period in 2025, excluding late reporting of contracts).
The Middle East conflict has disrupted energy markets and supply chains, but shipping markets have remained resilient despite the disruption and macroeconomic headwinds.
Market sentiment remained supportive and ordering appetite continued to be on a good level in Wärtsilä's key segments. Contracting in these segments is expected to remain well above the 10-year average level.
China introduced a GHG target for international shipping, requiring vessels to cut CO2 intensity by at least 15% by 2030 versus 2025 levels, driving demand for emissions-reduction solutions while adding to regulatory fragmentation.
In January-June, 245 orders for new alternative fuel capable ships were reported, accounting for 17% (28) of all contracted vessels and 24% (55) of the capacity of contracted vessels.
Vessel contracting trend
Number of vessels (total)
4000

3000
2000
1 000
0
2020 2021 2022 2023 2024 2025
TOLaI 1 0-y£'ar avg. {Total )

Number of vessels {Wartsila's key seqments)
800

G00 400
200
0

202G 2027
Total, F orecasr{Clark sons)

2028

2020 202J 2022 2023 2024 2025
W rrsil 's key seg mei›rs
2026
2027
2028
- 1 0-year avg . {W an sil a's key se gmenIs)
Warrsil 's key seg mei›rs. Forecast(Clark sons)
Source: Clarksons Research, as per 3rd of July 2026 (+2,000 DWT/GT, including offshore ship-shaped units.) Wärtsilä key segments include LNG carriers, LPG carriers, cruise & ferry, offshore, and special vessels. Historical figures in graphs are on rolling 12-month basis and are subject to change due to late reporting of contracts. The impact is most significant for the latest quarters; therefore, data from the last two quarters is not included. Forecasts are from March 2026.
4 © WARTSILA
‌Energy market: Increased demand drives energy transition investments
Electricity demand growth and future projections have increased substantially, creating market opportunities for equipment providers
WA6TSILA
Two key themes have stood out in recent energy-related macroeconomic development: load growth and increased tariff-related uncertainty.
In engine power plants, market demand for equipment has been strong. The baseload segment remains a consistent source of demand for thermal power while the drivers for balancing demand are also expected to continue to develop favourably
After significant growth driven by solar up to mid-2020s, renewable capacity additions are expected to decrease slightly in 2026. Growth prospects toward the end of the decade remain solid.
The speed of the data centre build-out is creating unprecedented demand for off-grid data centres, where reliable on-site power is essential.
Wärtsilä continues to see strong demand from data centres, with a dynamic pipeline of opportunities. The resulting growth in the installed base also supports significant lifecycle service potential in
Average annual electricity demand growth
+45%

1,200 TWh
1,000

800
600
400
200
0
2030 and beyond.
H istori cal 2015-2025
IEA El ectricity 2026
Previou s e xpectati on New expectation 2021-2030 2025-2030
IEA STEPS 2022 IEA El ectricity 2026
‌Reciprocating engines offer the strongest economics for data centres
WA6T5ILA
Recent analysis by BloombergNEF identified reciprocating engines as the most cost-competitive technology option for data centres.
Competitive lifecycle economics support attractive longterm project returns.
Low heat rate contributes to efficient fuel use and operating performance.
Low site-level emissions and negligible water consumption support sustainability objectives.
Engines are well positioned for a rapidly growing market where cost, performance, and resource efficiency are increasingly critical.

Engines Outcompete Turbines on Cost 1or Data Center Gas Power

Levelized cost of electricity of gas plant serving a SOOMW IT capacity data center

m Equipment cost Balance of plant Development cost m Fuel Variable opex Fixed open a Energy storage

S per megawatt•hour

$150

120

Engine OCGT CCGT Full Cell

lote. CCGT is combined-cycle gas turbine and OCGT open-cycle gas turbine. Open is operational cost. MW is megawatt. IT is information technology. We as5ume the data cenlor has a power usage ePectiveness of 1.2 with a reliability target of 99.9%.

Source. BloombergNE F

‌Organic order intake increased by 43% Equipment Services

1,967

Order intake increased by 33%

Marine order intake increased by 12%
MEUR, 12m rolling
MEUR, 12m rolling
2,000
1,800
1,600
1,400
MEUR
1,200
1,000
800
600
400
200
0
872
1,220
6,000
5,500
5,000
4,500
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26
Q2/26
0
2,000
1,800
1,600
1,400
MEUR
1,200
1,000
800
600
400
200
0
982 920 882
6,000
5,500
5,000
4,500
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0
- Energy order intake increased by 82%

Equipment order intake increased by 61%. The organic equipment order intake growth was 74%

Service order intake decreased by 4% due to Portfolio Business divestments and a negative FX impact. The organic service order intake growth was 1%

Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26

Q2/26

Equipment order intake

Equipment order intake, 12m rolling 4,920 MEUR

Service order intake

Service order intake, 12m rolling 3,650 MEUR

Marine and Energy combined service order book increased by 11%, ending up at an all-time high

Organic growth excluding FX impact and the impact of acquisitions and divestments. Figures for periods prior to 2025 have not been restated to reflect the classification of Energy Storage as assets held for sale and discontinued operations.

7 ©

‌Strong order book development, rolling book-to-bill continues above 1

Order book growing despite the removal of Portfolio Business

Order book by business

10,000

9,000

8,000

7,000

MEUR

6,000

5,000

4,000

3,000

2,000

1,000

Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26

Marine Energy

Energy Storage

Portfolio Business Book-to-bill, 12m rolling 1.38

1.8

1.6

1.4

1.2

1.0

0.8

0.6

0.4

0.2

0.0

Order book delivery schedule

4,000

3,500

3,000

2,500

MEUR

2,000

1,500

1,000

500

Delivery current year Delivery current year +1 Later deliveries

Order book 30.6.2024 Order book 30.6.2025 Order book 30.6.2026

Note: Order book adjusted to exclude Energy Storage

The data presented in this chart reflects the latest published financial information available for each reporting period. Due to changes in Wärtsilä's organisational and reporting structure over time, certain historical figures have been restated. Consequently, not all figures presented are fully comparable across the periods shown.

‌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

2,600

2,400

2,200

2,000

1,800

1,600

MEUR

1,400

1,200

1,000

800

600

400

200

Delivery current year

Delivery current year +1

Later deliveries

2,600

2,400

2,200

2,000

1,800

1,600

MEUR

1,400

1,200

1,000

800

600

400

200

Delivery current year

Delivery current year +1

Later deliveries

Order book 30.6.2024 Order book 30.6.2025

Order book 30.6.2026

Order book 30.6.2024 Order book 30.6.2025

Order book 30.6.2026

‌Organic net sales increased by 5% Equipment Services

Net sales remained stable

Marine net sales
1,200
1,050
900
MEUR
750
600
450
300
150
0
722
694
714
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0
1,200
1,050
900
MEUR
750
600
450
300
150
0
834
MEUR, 12m rolling
MEUR, 12m rolling
900
845
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0
remained stable
- Energy net sales increased by 10%
  Equipment net sales increased by 3%. The organic equipment net sales growth was 12%
  Service net sales decreased by 6%. The organic service net sales were stable at -1%
  Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26
  Q2/26
  Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26
  Q2/26
  Equipment net sales
  
  Equipment net sales, 12m rolling 2,782 MEUR
  Service net sales
  
  Service net sales, 12m rolling 3,415 MEUR
  Organic growth excluding FX impact and the impact of acquisitions and divestments. Figures for periods prior to 2025 have not been restated to reflect the classification of Energy Storage as assets held for sale and discontinued operations.
  10 ©
  
  ‌Profitability continued to improve Net sales Comparable operating result
  2,400
  2,100
  1,800
  MEUR
  1,500
  1,200
  900
  600
  300
  0
  1,556
  %, 12m rolling
  1,594
  1,559
  8,000
  7,000
  6,000
  5,000
  4,000
  3,000
  2,000
  1,000
  0
  300
  250
  200
  MEUR
  150
  100
  50
  0
  176
  203
  MEUR, 12m rolling
  218
  16%
  14%
  12%
  10%
  8%
  6%
  4%
  2%
  0%
  Net sales remained stable
  Comparable operating result increased by 7%
  Comparable operating margin 12m rolling at 13.5% (11.6)
  Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26
  Q2/26
  Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26
  Q2/26
  Net sales
  
  Net sales, 12m rolling 6,197 MEUR
  Comparable operating result
  
  Comparable operating margin, 12m rolling 13.5%
  Figures for periods prior to 2025 have not been restated to reflect the classification of Energy Storage as assets held for sale and discontinued operations.
  11 ©
  
  ‌Technology and partnership highlights
  Enabling industry decarbonisation
  Wärtsilä continues to expand its data center footprint with two new orders announced during Q2 2026
  - Wärtsilä will supply an off-grid energy power solution for a new data center facility in Texas, USA. The 790 MW power plant will operate with 42 Wärtsilä 50SG engines running on natural gas.
  - Wärtsilä will supply 412 MW of engine power to support a major new hyperscale data center project in Ohio, USA. The project includes 40 Wärtsilä 34SG engines.
  - Both orders were booked as order intake by Wärtsilä in Q2 2026.
    Wärtsilä booked >500 MW of balancing power orders in various locations during Q2 2026
    - One of the orders booked was a second contract with Origem Energia in Brazil, following a first contract received in Q1. The contract covers the supply of 185 MW of power solutions to support the delivery of reliable and flexible capacity to the Brazilian power grid.
    - The order follows the Reserve Capacity Auction 2026 (LRCAP), the largest capacity auction ever held in Brazil. Origem Energia emerged as one of the auction's leading winners, securing projects that are scheduled to commence commercial operation between 2028 and 2029.
      12 ©
      
      ‌Technology and partnership highlights
      Enabling industry decarbonisation
      World's first large-scale 100% hydrogen engine tested at Wärtsilä's Bermeo laboratory to support the Spanish grid
  - Wärtsilä Energy has successfully operated a new 100% hydrogen engine supplying power to Spain's national electricity grid in Bermeo, Spain.
  - This is the world's first demonstration of a large-scale hydrogen engine running on 100% pure hydrogen.
  - Hydrogen-fuelled Wärtsilä 31 engines can also support energy-intensive sectors, such as AI data centres and industry in the future.
    Two new gas carriers to stay ahead of environmental standards with Wärtsilä 25 Ammonia engine
    - Wärtsilä will supply Wärtsilä 25 Ammonia auxiliary engine, together with a NOx reducer (SCR) and gas valve unit (GVU), for two new midsize LPG/liquid ammonia carrier vessels.
    - The ships are being built at shipyard in Shanghai and will be owned by a joint venture between Navigator Gas and Amon Maritime, Navigator Amon Shipping AS.
    - The order for the engines, SCR and GVU was booked by Wärtsilä in Q2 2026.
    13 ©
    
    ‌Wärtsilä will increase its operational capacity to approximately 2.2 times the 2025 operational level
  - During the quarter, Wärtsilä announced an investment of approximately EUR 90 million to further expand its technical production capacity by 30% at its Sustainable Technology Hub (STH) in Vaasa, Finland and across its associated global supply chain.
  - This expansion follows the 35% increase in technical production capacity, announced in February 2026.
  - Once fully commissioned in the first quarter of 2029, the expansion will increase output to approximately 2.2 times the 2025 operational level.

14 ©

‌Marine

15 ©

‌Marine: All-time high quarterly order intake in Wärtsilä Marine

Order intake and comparable operating result improved

Order intake

+12%

Comparable operating result Comparable operating result

114

+ Better

operating leverage

- Lower service volumes

MEUR, 12m rolling

MEUR

2,000

1,500

MEUR

1,000

500

901

1,031 1,152

Q2/24 Q4/24 Q2/25 Q4/25 Q2/26

5,000

4,000

3,000

2,000

1,000

124

160

140

120

100

13.1%

16.0%

124

114

103

14.0%

12.0%

%, 12m rolling

10.0%

Net sales

759

862

882

1,200

900

MEUR

600

300

MEUR, 12m rolling

+2%

4,000

3,000

2,000

1,000

80 8.0%

MEUR

60 6.0%

40 4.0%

20 2.0%

0 0.0%

Q2/24 Q4/24 Q2/25 Q4/25 Q2/26

Q2/25 Q2/26

Q2/24 Q4/24 Q2/25 Q4/25 Q2/26

‌Overall Marine service book-to-bill above 1

Marine service order book increased by 8% compared to Q2 2025

Marine service, Net sales Marine service, Book-to-bill

700

2,800

1.60

+7% CAGR

600

500

2,400

2,000

12m rolling book-to-bill

1.40

MEUR

400

1,600

1.20

300

200

100

Q2/23 Q4/23 Q2/24 Q4/24 Q2/25 Q4/25 Q2/26

Spare parts Field services

Service agreements

Retrofits and upgrades Net sales, 12m rolling

1,200

800

400

1.00

0.80

0.60

Q2/23 Q4/23 Q2/24 Q4/24 Q2/25 Q4/25 Q2/26

Spare parts Field services

Service agreements Retrofits and upgrades Service, total

2023 data restated to reflect the redefined organisational structure as of 1 Jan 2024. Figures prior to 2023 are not fully comparable due to organisational changes.

‌Energy

18 ©

‌Energy: All-time high quarterly order intake in Wärtsilä Energy

Since the start of 2025, the gross margin of the Energy equipment order book has improved by 500+ bps

Order intake

MEUR, 12m rolling

+82%

Comparable operating result Comparable operating result

MEUR

2,000

1,500

MEUR

1,000

500

1,661

913

473

Q2/24 Q4/24 Q2/25 Q4/25 Q2/26

5,000

4,000

3,000

2,000

1,000

+ Better

operating leverage

+ Service net 90

MEUR

sales

160

140

120

100

15.5%

16.0%

14.0%

12.0%

%, 12m rolling

10.0%

Net sales

1,200

900

529

580

404

MEUR

600

300

+10%

4,000

3,000

2,000

1,000

76 increased 80

8.0%

6.0%

4.0%

2.0%

MEUR, 12m rolling

0 0

Q2/24 Q4/24 Q2/25 Q4/25 Q2/26

Q2/25 Q2/26

Q2/24 Q4/24 Q2/25 Q4/25 Q2/26

0.0%

As of 1 April 2025, the reporting segment Energy has been separated into two independent reporting segments: Energy and Energy Storage. The comparison figures have been restated to reflect the segment structure.

‌Overall Energy service book-to-bill above 1

Energy service order book increased by 16% compared to Q2 2025

Energy service, Net sales Energy service, Book-to-bill

400

350

300

250

MEUR

200

150

100

+5% CAGR

Q2/23 Q4/23 Q2/24 Q4/24 Q2/25 Q4/25 Q2/26

Spare parts Field services

Service agreements

Retrofits and upgrades Net sales, 12m rolling

1,800

1,600

1,400

1,200

1,000

800

600

400

200

1.60

12m rolling book-to-bill

1.40

1.20

1.00

0.80

0.60

Q2/23 Q4/23 Q2/24 Q4/24 Q2/25 Q4/25 Q2/26

Spare parts Field services

Service agreements Retrofits and upgrades Service, total

‌The comparable operating result improved

250

225

200

12.7%

14.0%

(13.2)

15.5%

(14.3)

4.3%

(6.7)

-9

14.0%

Comparable operating result increased by 7%

175

150

MEUR

125

218

203

100

Comparable operating result Q2/25

Marine Energy Portfolio Business Comparable operating

result Q2/26

21 ©

‌Other key financials

22 ©

‌Streamlining Wärtsilä's business portfolio Wärtsilä has completed Portfolio Business divestments

In 2025, Wärtsilä completed the divestments of Automation, Navigation & Control Systems (1 July), and Marine Electrical Systems (31 October).
On 1 June 2026, Wärtsilä completed the divestments of the remaining two businesses, Gas Solutions and Water & Waste.
By completing the divestments of the Gas Solutions and Water & Waste on 1 June, Wärtsilä Portfolio Business will have no remaining business activities.
Energy Storage joint venture announced
Agreement signed on 15 June 2026 to establish a 50/50 joint venture with RCT Solutions GmbH.
Closing expected in Q3 2026, subject to customary approvals and financing arrangements.
Transaction aims to strengthen the long-term competitiveness of the Energy Storage business.
Joint venture expected to have a EUR -40-50 million negative impact on Wärtsilä's 2026 operating result driven by low recent order intake and transformation related costs. Approximately half of this amount relates to items affecting comparability.

23 ©

‌Working capital remains at an exceptionally low level

MEUR	4-6/2026	4-6/2025	1-6/2026	1-6/2025
Cash flow from operating activities	497	416	504	606
Working capital			-1,257	-924
Net interest-bearing debt			-1,719	-1,123
EBITDA	245	244	471	453
Return on capital employed (ROCE), %*			72.7	44.6
Gearing			-0.68	-0.45
Solvency, %			38.2	36.6
Earnings per share (EPS), basic and diluted, EUR	0.25	0.23	0.50	0.44

*Last 12 months.

‌Cash flow from operating activities increased Cash flow from operating activities Working capital to net sales ratio

1,000

900

800

700

MEUR

600

500

400

300

200

100

497

416

216

Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26

Cash flow from operating activities

Cash flow from operating activities, 12m rolling 1,496 MEUR

2,000

1,800

1,600

1,400

1,200

1,000

800

600

400

200

400

200

-200

-400

MEUR

-600

-800

-1,000

-1,200

-1,400

-1,600

-1,800

MEUR, 12m rolling

Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26

Working Capital

Avg. Working capital/Net sales rolling 12m

Avg. Working capital/Net sales rolling 12m, 5-year average

4.0%

2.0%

-420

-924

-1,257

0.0%

-2.0%

-4.0%

-6.0%

-8.0%

-10.0%

-12.0%

-14.0%

-16.0%

-18.0%

Average working capital is calculated by taking the average of the period's starting value and ending value.

‌Solid progress towards financial targets in Marine and Energy combined

Financial targets Marine and Energy combined

5% annual organic growth
14% operating margin
Group
Gearing below 0.5
Distribute a dividend of at least 50% of earnings

Marine and Energy combined

Net sales and operating margin %, LTM

+9%

6,000

16.0%

Group Gearing

0.00

Group

Dividend distribution

150%

1.50

MEUR

5,000

4,000

3,000

LTM Q4/24

LTM Q2/25

LTM Q4/25

14.0%

12.0%

10.0%

LTM Q2/26

-0.20

-0.40

-0.60

-0.80

-1.00

-0.31 -0.34

-0.45

-0.53

-0.70

-0.65

-0.68

Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26

Gearing

1.00

0.50

0.00

100%

73%

52%

100%

50%

2022* 2023 2024 2025

Dividend per share, regular, EUR

% of EPS

Net sales (Organic LTM growth +9%)

Operating result, % of net sales

Dividend per share, extraordinary, EUR

*In 2022, dividend was paid despite negative EPS

The current Wärtsilä financial targets were announced in March 2025. Following the discontinuation of Energy Storage as a reporting segment on 1 June 2026, the financial targets previously set for Energy Storage no longer apply.

‌Outlook Marine

Wärtsilä expects the demand environment for the next 12 months (Q3/2026-Q2/2027) to be similar to that of the comparison period.

Energy

Wärtsilä expects the demand environment for the next 12 months (Q3/2026-Q2/2027) to be similar to that of the comparison period.

Following two consecutive record order intake quarters in Energy and a record-high order intake in Marine in the second quarter, the outlook reflects a continued strong demand environment, especially in Energy. The strong demand environment is clearly underscored by Wärtsilä's decision in the second quarter to further expand capacity.

27 ©

‌Q&A

28 ©

‌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 a site visit to Wärtsilä's Sustainable Technology Hub in Vaasa, Finland, on 4 November 2026.

29 ©

‌Appendix

30 ©

‌Order intake

Second quarter development

31%

(43)

Order intake by business type

69%

(57)

1% (9%)

58%

(43)

40%

Order intake by business

(48)

Marine

Energy

Portfolio Business

Services Equipment

‌Net sales

Second quarter development

Net sales by business type

6% (13%)

Net sales by business

Marine

46%

Services

37%

(33)

57%

(54)

Energy

Portfolio Business

(44)

54%

(56)

Equipment

‌Second quarter order intake development by business type

51%

(45)

81%

(67)

Marine

MEUR

1,152

(1,031)

(4)

Energy

MEUR

1,661

23%

(23)

13%

(13)

(15)

9%(11)

1% (2)

7% (17)

(913)	of which services	0%	1%
	of which equipment	81%	84%

1% (2)

Spare parts

Field service

Service Agreements

Retrofits and upgrades

Equipment

Order intake growth, %

4-6/2026

reported change

4-6/2026

organic change

Group order intake

33%

43%

of which services -4% 1%

of which equipment 61% 74%

Marine order intake 12% 12%

of which services -2% -1%

of which equipment	28%	29%
Energy order intake	82%	86%
of which services	4%	6%

of which equipment 120% 125%

Marine and Energy combined order intake 45% 47%

Organic growth excluding FX impact and the impact of acquisitions and divestments

‌Second quarter net sales development by business type

27%

(28)

Marine

MEUR

882

(862)

16%

(17

Net sales growth, %	4-6/2026 reported change	4-6/2026 organic change
Group net sales	-2%	5%
of which services	-6 %	-1 %
of which equipment	3 %	12 %
Marine net sales	2%	3%
of which services	-4 %	-4 %
of which equipment	15 %	15 %
Energy net sales	10%	11%
of which services	4 %	6 %
of which equipment	15 %	18 %
Marine and Energy combined net sales	5%	6%
of which services	-1 %	-1 %
of which equipment	15 %	16 %

38%

(34)

50%

(48)

(10)

11%

(12)

(5)

24%

)

(23)

Energy

MEUR

580

(529)

19%

(19)

(5)

Spare parts

Field service

Service Agreements

Retrofits and upgrades

Equipment

Organic growth excluding FX impact and the impact of acquisitions and divestments

‌January-June order intake by customer segment

Marine	Gas carriers		Cruise & ferry		Offshore		Navy		Special vessels		Merchant		Other
Equipment	8%	(6)	28%	(21)	10%	(10)	12%	(18)	5%	(6)	34%	(37)	3%	(4)
Services	12%	(13)	24%	(24)	18%	(15)	11%	(8)	10%	(11)	24%	(28)	1%	(1)
Total	10%	(10)	25%	(23)	14%	(13)	12%	(12)	8%	(9)	29%	(31)	2%	(2)
Energy		Utilities		Independent Power Producers					Industrials				Other
Equipment	79%		(51)	9%			(15)	12%		(34)	0%			(0)
Services	37%		(40)	31%			(23)	24%		(24)	8%			(14)
Total	69%		(46)	15%			(18)	14%		(30)	2%			(6)

‌January-June orders received for Energy equipment globally

Europe 0 (5)

Americas 1,851 (592)

Asia 24 (7)

Utilities IPP's

(Independent

Power Producers)

Industrials

Others

Equipment order intake

1-6/2026:

MEUR 1,992 (911)

Africa and Middle East

117 (308)

‌