The following is a summary of the Wärtsilä Oyj Abp (WRTBF) Q1 2024 Earnings Call Transcript:
Financial Performance:
Wärtsilä reported a strong Q1 2024 with an 11% increase in order intake and a double-digit comparable operating margin.
The operating result saw a 50% increase to 10% with a significant order backlog reported at €7.3 billion.
Boosts in their service sector are notable with a 7% increase in order intake and a13% increase in net sales.
Business Progress:
Wärtsilä is making strides in energy innovation with the development of autonomous power plants and zero-emission balancing solutions in collaboration with over 200 Finnish entities.
Quantum2, a high-capacity battery energy storage system has been introduced.
Significant increases can be seen across the marine and energy business sectors, along with increased Energy Service agreements.
Despite lower energy storage sales, the company is optimistic about prospects in off-shore projects and energy advancement.
The company's manufacturing capacity is in a position to handle an increase in orders thanks to strategic investments, and a strategic review of storage is currently underway.
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