Wärtsilä Oyj Abp

Wärtsilä Corporation has announced the appointment of Nora Steiner-Forsberg as Executive Vice President, Legal and Compliance, and a member of the Board of Management, effective by April 1, 2025. Steiner-Forsberg, currently Executive Vice President, Legal at Fortum, brings extensive experience in international business and legal compliance. Kari Hietanen will continue on the Board of Management, transitioning to the role of Executive Vice President, Public Affairs and Sustainability. The company emphasizes the growing strategic importance of public affairs and sustainability as it focuses on decarbonizing the marine and energy industries. Wärtsilä is a global leader in sustainable technology and services, with net sales of EUR 6.0 billion in 2023.

Wärtsilä Corporation released its Half-year Financial Report for January–June 2024, highlighting improvements in order intake, profitability, and cash flow. The company expects a favorable demand environment in both the Marine and Energy sectors for the next 12 months. President & CEO Håkan Agnevall noted stable market conditions and resilience in economic activity despite global headwinds. Significant developments include a cooperation agreement with AVK for power solutions in European data centres and the launch of a 100% hydrogen-ready engine power plant concept. Wärtsilä's order intake and net sales increased, with notable growth in Marine and Energy sectors. The company reported a 63% rise in comparable operating results and significant improvements in cash flow. A strategic review of Energy Storage & Optimisation is ongoing. Wärtsilä remains focused on sustainable technology and aims to support carbon-neutral shipping and renewable energy futures. An analyst and press conference was scheduled for July 19, 2024.

Wärtsilä Corporation announced the composition of its Shareholders’ Nomination Board on 10 June 2024. The board consists of five members: four representatives nominated by the company’s four largest shareholders and the Chairman of Wärtsilä’s Board of Directors. The largest shareholders are determined based on the shareholders’ register maintained by Euroclear Finland Ltd. as of 1 June preceding the Annual General Meeting. The Nomination Board is responsible for preparing and presenting proposals regarding the composition and remuneration of the Board of Directors, reviewing and adjusting the Board's diversity principles, and planning for director succession. For more information, contact Kari Hietanen, Executive Vice President, Corporate Relations and Legal Affairs, or Hanna-Maria Heikkinen, Vice President, Investor Relations. Wärtsilä is a global leader in marine and energy market technologies, focusing on sustainable innovation, with net sales of EUR 6.0 billion in 2023. The company is listed on Nasdaq Helsinki.

Wärtsilä Corporation's Annual General Meeting, held on 7 March 2024, decided to pay approximately 40% of the annual fee to the Board of Directors in company shares. Following this decision, Karen Bomba, a Board member, acquired Wärtsilä shares. The transaction, which took place on 6 May 2024, involved 1789 shares at a unit price of 17.88 EUR. The transaction was part of a share-based incentive.