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Welcome to Wärtsilä's
Annual Report 2017

During 2017, we launched our corporate purpose – enabling sustainable societies with smart technology.

For us, this means promoting a low-emissions economy by providing intelligent ways of producing and using energy. It also means being at the forefront in developing new technologies and innovative business models that create more value for our customers.

I expect our purpose to provide an even stronger sense of direction to our way of working – all in service of creating value for our customers, shareholders and society at large.

2017 – A year of solid sales and strong order intake

Figures from 2017

Wärtsilä consists of three businesses:

Services

Wärtsilä Services creates lifecycle services for its customers, enhancing their business – whenever, wherever. Wärtsilä provides the industry’s broadest range of services for both shipping and power generation. The service solutions range from spare parts and basic support to ensuring maximised lifetime, increased efficiency and guaranteed performance of customer’s equipment or installation – in a safe, reliable, and environmentally sustainable way.

Energy Solutions

Wärtsilä Energy Solutions is a leading global systems integrator offering a broad range of environmentally sound solutions. Wärtsilä supplies ultra-flexible internal combustion engine based power plants, energy storage systems, and utility-scale solar photovoltaic (PV) power plants, as well as liquefied natural gas (LNG) terminals and distribution systems. These flexible and efficient solutions provide superior value to customers and enable a more sustainable and modern energy system for future generations.

Marine Solutions

Wärtsilä Marine Solutions enhances the business of its marine and oil & gas industry customers by providing innovative products and integrated solutions that are safe, environmentally sustainable, efficient, flexible, and economically sound. Being a technology leader, and through collaboration and knowledge sharing, Wärtsilä is able to customise solutions that provide real value to its customers around the world.

Wärtsilä’s stories from 2017

How to navigate this report

Wärtsilä’s Annual Report 2017 consists of five main sections, as well as the stories section that presents some of the key events and highlights of the year. You can build your own report or download complete sections of the annual report as PDF files in the download center.

Wärtsilä is a global leader in smart technologies and complete lifecycle solutions for the marine and energy markets. By emphasising sustainable innovation, total efficiency and data analytics, Wärtsilä maximises the environmental and economic performance of the vessels and power plants of its customers.

Wärtsilä’s approach to sustainability is based on economic, environmental and social performance. Our overriding focus is on ensuring profitability, providing environmentally sound products and services and ensuring responsible business conduct. We act as a good corporate citizen wherever we are active. Our business operations and relations with our stakeholders are governed by our Code of Conduct.

Wärtsilä implements a single-tier governance model, in which the management of the Wärtsilä Group is the responsibility of the General Meeting of shareholders, the Board of Directors, and the President and CEO. Wärtsilä complies with all relevant guidelines and provisions.

Wärtsilä’s shares are listed on the Nasdaq Helsinki Large Cap list under the trading code WRT1V. At the end of 2017, Wärtsilä had approximately 39,900 shareholders and the total number of shares was 197,241,130. Foreign shareholding, including nominee-registered shares, represented 55.9% of the share capital.

The year 2017 developed in line with our expectations. Increased power plant deliveries supported some growth in net sales, while profitability was in line with the previous year. The highlight of the year was the order intake growth seen in all of our business areas.

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