WÄRTSILÄ OYJ Review by the President & CEO
Håkan Agnevall
1 ©
2023
A year of all-time highs
The Wärtsilä Way is yielding results
2 ©
Wärtsilä Board of Management
Håkan Agnevall | Arjen Berends | Roger Holm | Anders Lindberg |
President and CEO | Chief Financial Officer | President, Wärtsilä Marine | President, Wärtsilä Energy |
Tamara de Gruyter | Teija Sarajärvi | Kari Hietanen | Saara Tahvanainen |
President, Portfolio Business | EVP, Human Resources | EVP, Corporate Relations | EVP, Marketing and |
and Legal Affairs | Communications |
3 ©
Our operating environment saw both risks and opportunities grow
Deepening geopolitical tensions | Acceleration of the decarbonisation |
transformation in marine and energy |
4 ©
The health and safety of our personnel is our key priority
17,807 employees
Finland 23% | Rest of Europe 37% | |
Asia 22% | Americas 13% | |
Other 5% |
5 ©
The Wärtsilä Way is our roadmap to profitable growth
Enabling sustainable societies through innovation
in technology and services
Transform - | Perform - |
attractive growth | clear path for |
opportunities at | operational |
the center of the | improvements |
decarbonisation | and increased |
transformation | profitability |
6 ©
We are driven by innovation and technology
R&D expenditure and % of net sales
MEUR | ||||
300 | 4.3% | |||
250 | ||||
200 | ||||
150 | 258 | |||
241 | ||||
100 | ||||
50 | ||||
0 | ||||
2019 | 2020 | 2021* | 2022 | 2023 |
*2021 figure has been restated to reflect a change in the definition of research and development expenditure.
7 ©
Progressing towards our Set for 30 decarbonisation targets
On track for our 2030 | Improving safety, wellbeing | Strengthening thought leadership |
decarbonisation targets | and employee engagement | and being a responsible company |
✓ To become carbon neutral | ✓ Positive trend in safety | ✓ Developing industry ecosystems |
in our own operations | indicators | and co-operation with academia |
✓ To provide a product | ✓ Wellbeing behaviours & | ✓ Continued focus on ethical |
portfolio ready for zero | toolkit launched to support | compliance |
carbon fuels | teams | ✓ Listed by TIME magazine as |
✓ Improving trend in | TIME100 most influential | |
employee engagement | companies in 2023 |
8 ©
We strengthened the focus of our Marine
We now have two reporting segments: Marine and Energy
- Automation, Navigation & Control Systems and Marine Electrical Systems moved to Portfolio Business
- Gas Solutions moved to Portfolio Business
- Shaft Line Solutions and Exhaust Treatment business units moved to Marine
9 ©
We are reviewing Energy Storage & Optimisation
- Solid progress and strong market growth
- Strategic review will define the best way to support growth and create shareholder value
- All potential alternatives will be considered
- No timetable set for the completion
- We continue to develop and invest in the ES&O business and serve our customers
10 ©
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Wärtsilä Oyj published this content on 07 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 March 2024 09:00:03 UTC.
