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Company Description

Contact Info

John Stenbergin ranta 2

Helsinki, 00530


Phone: 358 1070 90000

Fax: 358 1070 95700

Wartsila Corporation supplies ship machinery, and propulsion and manoeuvring systems. The company operates as a ship power supplier for builders, owners, and operators of vessels and offshore installation. The company provides power plants, operation and lifetime care services in decentralized power generation. The company includes Imatra Steel, which specializes in engineering steels. The company supplies medium-speed 4-stroke main and auxiliary engines from 0.5 to 23 MW and Sulzer RTA and RT-flex low-speed 2-stroke main engines from 7 to 80 MW. Wartsila gas and dual-fuel engines from 1.5 to 16 MW allow flexible choice of fuel. Wartsila generating sets range from 0.5 to 24 MW for ship service power generation and diesel electric propulsion. The company offers original parts for the engine room covering all wartsila and sulzer engines, auxiliary systems and propulsion systems. The company also engages in the manufacture and supply of OEM parts for a variety of older engine types. Ship Power Wartsila supplies ship machinery, and propulsion and manoeuvring systems. The company supplies low speed engines, Medium speed diesel engines, gas and dual fuel engines and generating sets, reduction gears, propulsion equipment, control systems, water jets and sealing solutions for all types of vessels and offshore applications. The company’s ship power has two customer groups, including shipyards and ship owners. Service Wartsila provides service and reconditioning both for ship machinery and power plants. The company provides improved services that support its customers’ business, service for various engine brands in key ports, long-term service contacts, predictive and condition-based maintenance, and operations and maintenance contracts. Power Plants Wartsila supplies power plants for decentralized power generation. It offers power plant solutions based on oil, gas and dual-fuel engines and biomassfuelled plants. Imatra Steel Imatra Steel is Wartsila’s special engineering steels company. Imatra Steel produces round, square and fl at special steel bars, and forged engine and front axle components. Its customers are European automotive and mechanical engineering companies. Significant Events Wartsila Corp. and Hyundai Heavy Industries Co., Ltd. (HHI) have entered into an agreement to set up a 50/50-owned joint venture in Korea to manufacture dual-fuel engines for LNG (liquefied natural gas) carriers. The name of the company would be Wartsila Hyundai Engine Company, Ltd. The joint venture would manufacture Wärtsilä 50DF dual-fuel engines for the Korean, Japanese, Chinese and Taiwanese shipbuilding markets. Wartsila Corp. has entered into a cooperation agreement with Becker Marine Systems GmbH & Co. KG on the development of ship propulsion systems. Strategic Alliances The company has a partnership with Mitsubishi Heavy Industries Ltd. in Japan to jointly develop and design new, smaller, low-speed diesel engines. The tie-up with Mitsubishi Heavy Industries is for the development of a small, low-speed marine diesel engine suitable for smaller tankers and containerships being used on feeder or shortsea trades.


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Valuation WRT1V Industry Range
Price/Earnings 21.7x
Price/Sales 1.5x
Price/Book 3.7x
Price/Cash Flow 15.6x
TEV/Sales 1.3x

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