After a period of nine quarters of growth, which has faded in the last two quarterly periods, in the October-December quarter in 2023, the revenues of the Wärstilä Corporation group recorded a decrease of -7% to €1.64 billion compared to €1.77 billion in the last quarter of the year previous. In the naval propulsion systems segment only of products produced by the Finnish group, revenues amounted to 688 million euros (+17%) and other solutions for the maritime sector to €112 million (-46%). Operating profit totalled €128 million (+248%), with a contribution of €42 million million from the Marine Power segment (-28%) and -7 million from the Marine Power segment Marine Systems (-147%). Group net profit was equal to to €96 million compared to €28 million in the last quarter of 2019. 2022.

In the fourth quarter of 2023, the company acquired new orders for a total value of €1.86 billion (+13%) and The size of the order backlog as at 31 December was rose to €6.69 billion (+13%). The Marine Power division has new orders for €782 million (+13%), bringing the value of the of the orderbook to €2.64 billion (+16%), while the Marine division Systems totalled new orders of €132 million (+5%), with a order backlog at the end of 2023 amounted to €583 million (+34%).

For the full year 2023, Wärstilä's revenues reached a record €6.01 billion in revenues, up +3% on the previous year. Operating profit and net income amounted to €402 million and €269 million respectively million euro compared to negative results of -26 million and -58 million in 2022. New orders last year obtained by the group set a new all-time record of 7.07 billion euros (+16%).

Commenting on the results for the year 2023, the Chairman and Chief Executive Officer of Wärstilä, Håkan Agnevall, noted that 'in the maritime market, the propensity to investment in new vessels remained high despite the capacity constraints of major shipyards in South Korea and China, and further increases in the prices of new constructions. In July, he recalled, the International Maritime Organization updated its strategy on reduction greenhouse gas emissions from ships, with the aim of to achieve net-zero emissions by or around by 2050. As a result, stakeholders are now more Globally aligned on requirements and investments necessary to decarbonise the sector. This will speed up the transition to decarbonisation in the maritime sector, where Wärtsilä solutions can make a real difference. The decarbonisation - Agnevall underlined - offers significant opportunities, not only for new construction, but also for modernisations and conversions, as shipowners and operators seek to keep their existing fleets compliant and competitive'.