Wartsila's Order Intake Buoyed by Demand for Lower-Carbon-Fueled Vessels in Early 2024

Wartsila is an integrated provider of capital equipment and aftermarket parts and service in the global marine and energy markets. Accordingly, Wartsila reaps the benefit of sticky, high profit margin aftermarket sales that accrue under its installed base business model. Aftermarket maintenance and spare parts sales account for approximately 50% of group revenue, evidencing the extent to which Wartsila can exert control in the lucrative aftermarket for maintenance and original parts for its marine and energy systems and equipment.