Wärtsilä Oyj Abp

Wärtsilä Corporation announced that its President & CEO, Håkan Agnevall, will be on sick leave due to a planned routine surgery and is expected to return by 25 November 2024. In his absence, Roger Holm, President of Wärtsilä Marine and Executive Vice President, will take over the CEO duties. Wärtsilä is a global leader in innovative technologies and lifecycle solutions for the marine and energy markets, focusing on sustainable technology and services. The company employs 17,800 professionals across 280 locations in 79 countries, with 2023 net sales of EUR 6.0 billion. Wärtsilä is listed on Nasdaq Helsinki.

Wärtsilä Corporation released its Interim Report for January–September 2024, highlighting improved net sales, profitability, and cash flow. The company expects a better demand environment in both the Marine and Energy sectors over the next 12 months. President & CEO Håkan Agnevall noted stable market conditions but acknowledged increased geopolitical risks. Wärtsilä observed growth in renewable energy demand and signed significant contracts, including supplying engines to the Kentucky Municipal Energy Agency and converting a vessel to ammonia fuel for Eidesvik. The company also signed a five-year Lifecycle Agreement with Royal Caribbean Group. Wärtsilä's order intake grew by 4% organically in the third quarter, with increased service orders and a slight decrease in equipment orders. Net sales rose by 21% organically, and the operating result improved by 41%. The company continues to focus on its Energy Storage & Optimisation strategy and remains optimistic about future growth prospects. An engagement survey showed high employee commitment. A virtual analyst and press conference was scheduled for 29 October 2024. Wärtsilä is a leader in sustainable marine and energy technologies, with operations in 79 countries and net sales of EUR 6.0 billion in 2023.

Varma Mutual Pension Insurance Company has notified Wärtsilä Corporation that its holding in Wärtsilä has fallen below the 5% disclosure threshold for shares and voting rights as of October 17, 2024.

Wärtsilä Corporation has received a notification from BlackRock, Inc. regarding a change in their holdings due to a group restructure following the acquisition of Global Infrastructure Management LLC on October 1, 2024. BlackRock, Inc.'s total holdings, including financial instruments, now amount to 5.49% of Wärtsilä Corporation's total shares and voting rights. Wärtsilä has a total of 591,723,390 shares, each with one vote.

Wärtsilä Corporation has appointed Anu Sirkiä as Executive Vice President, Marketing and Communications, and a member of the Board of Management. She will begin her role by the end of November 2024, reporting to President & CEO Håkan Agnevall. Sirkiä, who succeeds Saara Tahvanainen, brings extensive experience from her previous roles at Amer Sports, KONE, and Aalto University Executive Education. Agnevall expressed confidence in Sirkiä's ability to drive marketing and communications transformation at Wärtsilä. Wärtsilä is a global leader in innovative technologies and lifecycle solutions for the marine and energy markets, with a focus on sustainability and decarbonization.