Wärtsilä Oyj : Result presentation Q3 2021

1	26 October 2021	INTERIM REPORT JANUARY-SEPTEMBER 2021

ORDER INTAKE, NET SALES, AND PROFITABILITY INCREASED

• Order intake increased by 21%, growth in all businesses
• Good progress in services:

Order intake increased by 14%

Net sales increased by 20%

• Profitability improved
• Covid-19continued to have a negative impact on Wärtsilä's business

2	© Wärtsilä	26 October 2021	INTERIM REPORT JANUARY-SEPTEMBER 2021

BROAD-BASED POSITIVE DEVELOPMENT IN KEY FIGURES

MEUR	7-9/2021	7-9/2020	CHANGE	1-9/2021	1-9/2020	CHANGE
Order intake	1,186	981	21%	3,584	3,240	11%
of which services	595	521	14%	1,903	1,641	16%
Order book				5,325	5,265	1%
of which current year deliveries				1,402	1,196	17%
Net sales	1,103	995	11%	3,181	3,385	-6%
of which services	598	499	20%	1,738	1,602	9%
Book-to-bill	1.07	0.99		1.13	0.96
Operating result	75	43	77%	170	144	18%
% of net sales	6.8	4.3		5.3	4.3
Comparable operating result	87	61	43%	199	172	16%
% of net sales	7.9	6.1		6.3	5.1

3	© Wärtsilä	26 October 2021	INTERIM REPORT JANUARY-SEPTEMBER 2021

THIRD QUARTER
HIGHLIGHTS	Net sales

Net sales EUR 1,103	MEUR						MEUR, 12m rolling
million	1 800										6 000
• 20% increase in	1 600										5 000
service sales	1 400
	1 200	1 118				995				1 103	4 000
Comparable operating	1 000
									3 000
800
result EUR 87 million
600										2 000
• 43% growth
400
• More favourable										1 000
200
sales mix between
equipment and	0	Q319	Q419	Q120	Q220	Q320	Q420	Q121	Q221	Q321	0
services
		Net sales
		Net sales, 12m rolling MEUR 4,401

Comparable operating result

MEUR							%, 12m rolling
250										14,0%
200										12,0%
										10,0%
150										8,0%
100									87	6,0%
					61					4,0%
50	39									2,0%
0	Q319	Q419	Q120	Q220	Q320	Q420	Q121	Q221	Q321	0,0%

Comparable operating result

Comparable operating result, 12m rolling 6.9%

4	© Wärtsilä	26 October 2021	INTERIM REPORT JANUARY-SEPTEMBER 2021

MIXED ACTIVITY LEVELS IN MARINE MARKET

SIGNIFICANT INCREASE IN VESSEL CONTRACTING MAINLY DRIVEN BY CONTAINERSHIPS

• The number of vessels ordered in the review period increased to 1,402 (505 in the corresponding period in 2020, excluding late reporting of contracts).
• Vessel contracting continued to be driven by containerships, whereas vessel contracting in the cruise and ferry markets remains low.
• There were 297 orders for alternative fuel capable units in the review period, led by LNG fuelled vessels.
• ~50% of the cruise fleet capacity was active at the end of September, up from ~20% at the end of June.

Source: Clarksons Research, 12m rolling contracting as per 5 October 2021 (+100 gt, excluding late reporting of contracts) Specialised vessels include LNG carriers, LPG carriers, cruise & ferry, offshore, and special vessels.

Total vessel contracting

Number of vessels

1. 400

1. 200

1. 000
   800
   600
   400
   200
   0

12 months rolling (excluding late contracting)

Specialised vessels

Number of vessels

500

400

300

200

100

0

12 months rolling (excluding late contracting)

5	© Wärtsilä	26 October 2021	INTERIM REPORT JANUARY-SEPTEMBER 2021