Wärtsilä reported an all-time high operating result and cash flow for the financial year 2025, supported by strong performance in both its Marine and Energy businesses.
Strong financial performance
For the full year, Wärtsilä recorded net sales of EUR 6.9 billion, up 7% year-on-year. The comparable operating result rose 20% to EUR 829 million, representing 12.0% of net sales.
Cash flow from operating activities reached a record EUR 1.6 billion, up from EUR 1.2 billion in 2024. Earnings per share increased to EUR 1.06.
Total order intake remained stable at EUR 8.1 billion, while order intake in Marine and Energy combined increased 17% to EUR 6.9 billion. The order book stood at EUR 8.2 billion at year-end.
Q4 2025 highlights
In the fourth quarter, Wärtsilä reported net sales of EUR 2.0 billion, up 8%. The comparable operating result increased 23% to EUR 256 million.
Marine and Energy order intake rose 6% to EUR 1.7 billion, while operating cash flow reached EUR 652 million.
Marine and Energy outlook
Wärtsilä expects stable demand in the Marine segment over the next 12 months.
For Energy and Energy Storage, the company expects stronger demand compared to the previous year, driven by electrification, renewables and rising data centre power needs.
However, Wärtsilä warned that geopolitical uncertainty, global trade tensions and tariffs could delay investment decisions.
Growth in data centres and decarbonisation
In Energy, Wärtsilä continued to grow in the data centre power segment, securing its first two US projects during 2025 with a combined capacity of 789 MW.
In Marine, the company said demand softened compared to 2024 but customer sentiment remained positive. Wärtsilä continues to support shipowners with fuel efficiency, carbon capture, hybrid systems and alternative fuel technologies.
Capacity expansion and portfolio changes
During 2025, Wärtsilä announced a 35% expansion of production capacity at its Sustainable Technology Hub in Vaasa, Finland. The new capacity is expected to come online in Q1 2028.
The company also expanded its spare parts centre in Kampen, the Netherlands, and entered a strategic partnership with Siempelkamp Giesserei to strengthen its supply chain.
Wärtsilä continued to streamline its portfolio by divesting:
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Automation, Navigation and Control Systems (July 2025)
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Marine Electric Systems (October 2025)
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Gas Solutions business (announced December 2025, expected to close in Q2 2026)
Dividend proposal
The Board proposed a total dividend of EUR 1.06 per share, including:
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EUR 0.54 base dividend
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EUR 0.52 extraordinary dividend
The first payment of EUR 0.79 per share is scheduled for 23 March 2026, with the second instalment of EUR 0.27 per share due in September 2026.
CEO comment
Håkan Agnevall, President and CEO, said 2025 was a strong year despite global uncertainty.
He highlighted record results, strong cash flow and growing demand for renewable energy, balancing power and data centre solutions, while reaffirming Wärtsilä’s role in supporting the decarbonisation of both the marine and energy sectors.
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