Wartsila Corp - Company Profile
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Business Description
Wartsila Corp (Wartsila) provides technologies and comprehensive lifecycle solutions to customers in the marine and energy markets. Through sustainable initiatives, efficiency, and data analytics, it harnesses environmental and economic performance of the vessels and power plants. Wartsila operates its business through four segments: Wartsila Marine Systems, Wartsila Marine Power, Wartsila Energy, and Wartsila Portfolio. In FY2023, the company reported a capital expenditure of EUR148 million which as a percentage of total revenue stood at 2.4% and declined 5.1% YoY.
R&D Overview
R&D efforts focus on developing sustainable digitalization and smart technologies, solutions and services that maximize customers' environmental performance. It invests in developing technologies for renewable energy future and smart marine ecosystem. The company strives to develop technologies for efficiency improvement, reduction in gaseous and liquid emissions, fuel flexibility, noise abatement, hybrid and energy storage systems, and waste treatment, wastewater, and ballast water treatment. Wartsila also provides digital solutions and services to collect, analyze, monitor, and report data for the optimization of operations and reduce emissions. The company’s proactive approach to meet future demand has resulted in the development of both primary and secondary abatement technologies and has broadened the range of usable fuels. The company is developing a technology to make use of zero emission fuels possible before 2030. It is also developing a project that reduce methane emissions and increase its storage capacity for energy. In FY2023, it spent EUR258 million on R&D, which was 4.3% of its revenue and grew 7.1% YoY.
Business Segments
Overview
Offers flexible power plants, energy management and storage systems, besides lifecycle services that enable increased efficiency and guaranteed performance.
Performance
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Overview
Its offering includes engines, generating sets, gearboxes, propulsion equipment, as well as LNG fuel handling, NOx reduction technologies, and power management positions marine power as a leading partner for its customers in the decarbonisation of the maritime industry, through fuel flexibility and hybrid solutions. It includes power supply, parts, performance, projects, propulsion, and field services and workshops. It designed to support its customers throughout the entire lifecycle of their vessels from designing, developing, and delivering high quality products and solutions to ensure superior performance. Which are capable of meeting evolving environmental requirements, to assist the customers with a wide service network supplying spare parts, competent field service personnel, and product and solution upgrades, as well as reducing operational risk.
Performance
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Overview
It includes exhaust treatment, gas solutions, marine electrical systems, and shaft line solutions. It develops the exhaust gas cleaning technology. Wartsila scrubber systems are designed to provide flexible and reliable operations wherever customers operate. It is the service provider for the gas value chain, with a broad range of products covering cargo handling systems for gas carriers, liquefaction and gasification systems for various applications, fuel systems for alternative engine configurations and fuels, and renewable gas systems with solutions for biogas upgrading and liquefaction. It also offers electrical turnkey solutions to navy and super yachts. It comprises of all the capabilities, which are required to provide complete integrated shaft line solutions from its global factories and service locations to customers in navy, merchant, and cruise.
Performance
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Overview
It comprises of tank control systems, water and waste, hydropower solution and turbine service business.
Performance
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Geographical Segments
Performance
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Performance
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Performance
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Performance
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Performance
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