Wärtsilä, a marine and energy technology provider, saw a 34% increase in Q4 2024 order intake and 14% growth for the full year. Q4 orders reached EUR 2,491 million, with net sales up 13% to EUR 1,854 million.
The full-year order intake was EUR 8,072 million, with net sales growing 7% to EUR 6,449 million. The order book rose 25% to EUR 8,366 million.
CEO Håkan Agnevall highlighted record highs in order intake, operating results, and cash flow, noting significant profitability improvements. Despite geopolitical uncertainties, demand for decarbonization solutions has remained strong.
In the energy sector, the shift to renewables accelerated, driving demand for balancing technologies like Wärtsilä’s battery storage and thermal balancing plants. In the marine market, the company saw an increased interest in alternative fuels, due to global trade growth and decarbonization pressures. As a result, 49% of contracted vessel capacity is now using alternative fuels.
Wärtsilä advanced its decarbonization efforts, launching a hydrogen-ready power plant and securing a deal for an ammonia-fueled supply vessel. While it expects a stronger demand environment in 2025, in both Marine and Energy sectors, external uncertainties could impact growth. PSR
Natasa Mulahalilovic is Product Manager for MarineLink, the proprietary marine product database at Power Systems Research
