Announcement • Jun 09
Wärtsilä Corporation Announces Nomination Board Appointments Wärtsilä Corporation announced that the following members had been appointed to Wärtsilä's Shareholders' Nomination Board: Petra Hedengran, Senior Advisor, Investor AB, appointed by Invaw Invest AB; Markus Aho, Chief Investment Officer & Deputy CEO, Varma Mutual Pension Insurance Company; Rami Vehmas, Head of Equities, Ilmarinen Mutual Pension Insurance Company; Carl Pettersson, CEO, Elo Mutual Pension Insurance Company; and Tom Johnstone, Chairman of the Board of Directors of Wärtsilä. Wärtsilä's Shareholders' Nomination Board consists of five members. Four representatives are nominated by the company's four largest shareholders, with the fifth member being the Chairman of Wärtsilä's Board of Directors. The four largest shareholders are determined on the basis of the shareholders' register maintained by Euroclear Finland Ltd. as of June 1 preceding the Annual General Meeting of shareholders. The Shareholders' Nomination Board prepares and presents to the General Meeting proposals relating to the composition and remuneration of the Board of Directors. In addition, the Nomination Board reviews and adjusts the diversity principles of the Board of Directors, as necessary, and does successor planning of the directors. Buy Or Sell Opportunity • May 29
Now 21% overvalued Over the last 90 days, the stock has fallen 10% to €33.05. The fair value is estimated to be €27.33, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.5% over the last 3 years. Earnings per share has grown by 48%. For the next 3 years, revenue is forecast to grow by 7.5% per annum. Earnings are also forecast to grow by 8.8% per annum over the same time period. Valuation Update With 7 Day Price Move • May 21
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €32.74, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 15x in the Machinery industry in Italy. Total returns to shareholders of 88% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €27.22 per share. Buy Or Sell Opportunity • May 15
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 9.4% to €38.92. The fair value is estimated to be €31.02, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.5% over the last 3 years. Earnings per share has grown by 48%. For the next 3 years, revenue is forecast to grow by 7.5% per annum. Earnings are also forecast to grow by 8.8% per annum over the same time period. Announcement • Apr 29
Wärtsilä Corporation Announces Tamara De Gruyter, President, Energy Storage and Executive Vice President, to Continue Her Career Outside the Company Wärtsilä Corporation announced that Tamara de Gruyter, President, Wärtsilä Energy Storage and Executive Vice President, and a member of Wärtsilä's Board of Management, has decided to continue her career outside Wärtsilä and accept a new role with another company. She will continue to lead Wärtsilä's Energy Storage business until the end of August 2026, ensuring continuity for customer commitments and a smooth transition. Recruitment of the successor has been initiated. Reported Earnings • Apr 28
Full year 2025 earnings released: EPS: €1.06 (vs €0.85 in FY 2024) Full year 2025 results: EPS: €1.06 (up from €0.85 in FY 2024). Revenue: €6.92b (up 7.2% from FY 2024). Net income: €626.0m (up 25% from FY 2024). Profit margin: 9.1% (up from 7.8% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Machinery industry in Italy. Buy Or Sell Opportunity • Apr 28
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 3.6% to €34.67. The fair value is estimated to be €27.67, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.4% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 6.6% per annum. Earnings are also forecast to grow by 8.3% per annum over the same time period. New Risk • Apr 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Declared Dividend • Apr 10
Dividend of €0.27 announced Shareholders will receive a dividend of €0.27. Ex-date: 15th September 2026 Payment date: 23rd September 2026 Dividend yield will be 3.0%, which is higher than the industry average of 1.1%. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (22% cash payout ratio). The dividend has increased by an average of 3.0% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 29% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Declared Dividend • Mar 24
Dividend of €0.27 announced Shareholders will receive a dividend of €0.27. Ex-date: 15th September 2026 Payment date: 23rd September 2026 Dividend yield will be 3.3%, which is higher than the industry average of 1.1%. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (22% cash payout ratio). The dividend has increased by an average of 3.0% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 29% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 13
Wärtsilä Oyj Abp Approves Extraordinary Dividend for the Financial Year 2025, Payable on March 23, 2026 The board of directors of Wärtsilä Oyj Abp at the Annual General Meeting held on 12 March 2026, approved an extraordinary dividend of EUR 0.52 per share shall be paid for the financial year 2025. The extraordinary dividend of EUR 0.52 per share shall be paid to the shareholders who are registered in the list of shareholders maintained by Euroclear Finland Oy on the dividend record day of 16 March 2026. The payment day proposed by the Board is 23 March 2026. Board Change • Mar 12
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 3 highly experienced directors. Independent Deputy Chair of the Board Mika Vehvilainen was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €32.36, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 17x in the Machinery industry in Italy. Total returns to shareholders of 86% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €29.24 per share. Upcoming Dividend • Mar 06
Upcoming dividend of €0.79 per share Eligible shareholders must have bought the stock before 13 March 2026. Payment date: 23 March 2026. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Italian dividend payers (4.9%). Higher than average of industry peers (1.2%). Buy Or Sell Opportunity • Feb 19
Now 26% overvalued after recent price rise Over the last 90 days, the stock has risen 41% to €38.25. The fair value is estimated to be €30.36, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.4% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 6.0% per annum. Earnings are also forecast to grow by 9.0% per annum over the same time period. Declared Dividend • Feb 07
Final dividend of €0.79 announced Shareholders will receive a dividend of €0.79. Ex-date: 13th March 2026 Payment date: 23rd March 2026 Dividend yield will be 3.0%, which is higher than the industry average of 1.1%. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (22% cash payout ratio). The dividend has increased by an average of 3.5% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 31% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 06
Solix Group ApS agreed to acquire Water & Waste business of Wärtsilä Oyj Abp (HLSE:WRT1V). Solix Group ApS agreed to acquire Water & Waste business of Wärtsilä Oyj Abp (HLSE:WRT1V) on February 5, 2026.
In 2025, the annual revenue of Water & Waste was €54 million.
Subject to approvals, the transaction of Water & Waste is expected to be completed in the third quarter of 2026. Reported Earnings • Feb 05
Full year 2025 earnings released: EPS: €1.06 (vs €0.85 in FY 2024) Full year 2025 results: EPS: €1.06 (up from €0.85 in FY 2024). Revenue: €6.91b (up 7.2% from FY 2024). Net income: €626.0m (up 25% from FY 2024). Profit margin: 9.1% (up from 7.8% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Machinery industry in Italy. Buy Or Sell Opportunity • Jan 28
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 22% to €33.46. The fair value is estimated to be €27.81, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.4% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 5.1% per annum. Earnings are also forecast to grow by 7.9% per annum over the same time period. Announcement • Jan 13
Karin Falk Not to Stand for Re-Election as Board of Director of Wärtsilä Corporation Wärtsilä Corporation announced that Karin Falk has informed that she is not available for re-election to the Board of Directors at its upcoming AGM to be held on 12 March 2026. Announcement • Dec 23
Mutares SE & Co. KGaA (XTRA:MUX) signed an agreement to acquire Gas Solutions Business of Wärtsilä Oyj Abp (HLSE:WRT1V). Mutares SE & Co. KGaA (XTRA:MUX) signed an agreement to acquire Gas Solutions Business of Wärtsilä Oyj Abp (HLSE:WRT1V) on December 22, 2025. The corporate carve-out transaction strengthens the Engineering & Technology segment of Mutares as a new platform investment.
In 2024, the annual revenue of Gas Solutions Business was €300 million.
The transaction is expected to close in the first half of 2026, subject to customary approvals.
BDA Partners Ltd acted as financial advisor for Wärtsilä Oyj Abp. New Risk • Dec 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 5.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Reported Earnings • Oct 29
Third quarter 2025 earnings released: EPS: €0.31 (vs €0.24 in 3Q 2024) Third quarter 2025 results: EPS: €0.31 (up from €0.24 in 3Q 2024). Revenue: €1.63b (down 5.0% from 3Q 2024). Net income: €181.0m (up 27% from 3Q 2024). Profit margin: 11% (up from 8.3% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Machinery industry in Italy. Announcement • Sep 10
Wärtsilä Oyj Abp Announces Executive and Board Changes Wärtsilä Oyj Abp announced that Kari Hietanen has informed of his intention to retire as Executive Vice President, Public Affairs and Sustainability, in the spring of 2026. After serving Wärtsilä in various expert and leadership roles for 37 years, he will step down from the company Board of Management at the end of 2025. As of 1 January 2026, Kari Hietanen's responsibilities will be redistributed within the Board of Management as follows: Public Affairs and Sustainability responsibilities will be transferred to Executive Vice President, Legal and Compliance Nora Steiner-Forsberg. Cyber Security responsibilities will be transferred to Executive Vice President and Chief Financial Officer Arjen Berends and Safety and Corporate Security responsibilities will be transferred to Executive Vice President, Human Resources Teija Sarajärvi. Following Kari Hietanen's upcoming retirement, the members of the Board of Management as of 1 January 2026 will be: Håkan Agnevall, President & CEO; Arjen Berends, Executive Vice President and Chief Financial Officer; Tamara de Gruyter, President, Wärtsilä Energy Storage and Executive Vice President; Roger Holm, President, Wärtsilä Marine and Executive Vice President; Anders Lindberg, President, Wärtsilä Energy and Executive Vice President; Teija Sarajärvi, Executive Vice President, Human Resources; Anu Sirkiä, Executive Vice President, Marketing and Communications; Nora Steiner-Forsberg, Executive Vice President, Public Affairs and Legal. Announcement • Jun 11
Wärtsilä Oyj Abp Redefines Organisational Structure Wärtsilä announced on 31 March 2025 the closure of the strategic review of Energy Storage and Optimisation (ES&O) and concluded that the reporting segment Wärtsilä Energy would be separated into two independent reporting segments. Effective from 1 April 2025, Wärtsilä has three reporting segments: Wärtsilä Marine, Wärtsilä Energy, and Wärtsilä Energy Storage. Portfolio Business continues to be reported as other business activities. The change in the reporting structure will be reflected in Wärtsilä's financial reporting starting from the second quarter of 2025. Announcement • Dec 17
Wärtsilä Oyj Abp to Report Q1, 2025 Results on Apr 25, 2025 Wärtsilä Oyj Abp announced that they will report Q1, 2025 results on Apr 25, 2025 