Wärtsilä reported a strong start to 2026, with higher order intake, a record order book and improved profitability despite ongoing geopolitical uncertainty.
Order intake rose 10% to €2.1 billion in the first quarter. Organic growth reached 22%. Orders in Marine and Energy increased 28% to €2.0 billion.
The company’s order book reached an all-time high of €8.9 billion, up 4% year-on-year.
Net sales remained stable at €1.56 billion. However, organic growth reached 8%, supported by higher equipment deliveries.
The comparable operating result increased 16% to €199 million. The operating margin improved to 12.8% from 11.0% last year. Earnings per share rose to €0.25.
Cash flow from operating activities dropped to €7 million, mainly due to higher working capital needs linked to increased project activity.
The Energy business delivered strong performance. Demand grew due to electrification, data centre expansion and the need for reliable power supply. Wärtsilä secured new orders, including a 123 MW power plant project in the United States.
The Marine segment also showed solid momentum. New vessel orders increased significantly, supported by improved market conditions and continued focus on decarbonisation solutions.
The Energy Storage business faced challenges. Order intake remained low due to tariffs, regulatory changes and strong competition. The company warned of potential losses later in the year if order levels do not improve.
“We recorded higher order intake and an all-time high order book, while improving profitability,” said Håkan Agnevall, President and CEO of Wärtsilä. “At the same time, geopolitical tensions continue to create uncertainty across global markets.”
Looking ahead, Wärtsilä expects demand in Energy and Energy Storage to improve over the next 12 months. The Marine outlook is expected to remain stable.
The company also continues to streamline its portfolio. It expects to complete the divestment of remaining non-core businesses during 2026.
