Wärtsilä provides restated financial information for the year 2022 to reflect the redefined organisational structure
Wärtsilä Corporation, Stock exchange release, 23 March 2023 at 9:00 EET
Wärtsilä provides restated financial information for the year 2022 to reflect the redefined organisational structure
Wärtsilä announced on 17 October 2022 the integration of its Voyage business into Marine Power starting January 1, 2023. The change in organisational structure will be reflected in Wärtsilä’s financial reporting as of the first quarter of 2023.
Wärtsilä’s new reporting structure
In the new organisational structure, Marine Power, Marine Systems and Energy constitute the reportable segments of the group, while Portfolio Business continues to be reported as other business activities.
Restated financial information
Wärtsilä’s financial information for the year 2022 has been adjusted to correspond to the new reporting structure. Changes in comparison figures are presented in separate Excel and PDF files attached to this release. This restatement has no impact on the group’s total financial figures.
In addition to the integration of Voyage business into Marine Power, Wärtsilä is currently preparing to integrate parts of Voyage (NACOS Navigation, NACOS Automation, Dynamic Positioning and sensors) into a new business unit to be moved to Portfolio Business. Also Marine Electric Systems, a business unit currently part of the Marine Systems is planned to be moved to Portfolio Business as well. These changes are planned to be made during the second quarter of 2023 and are not yet included in the restated financial information published now. Restated financial information regarding these changes will be published after completion, approximately during May-June.
For further information, please contact:
Hanna-Maria Heikkinen
Vice President, Investor Relations
Tel: +358 10 709 1461
hanna-maria.heikkinen@wartsila.com
Wärtsilä in brief
Wärtsilä is a global leader in innovative technologies and lifecycle solutions for the marine and energy markets. We emphasise innovation in sustainable technology and services to help our customers continuously improve their environmental and economic performance. Our dedicated and passionate team of 17,500 professionals in more than 240 locations in 79 countries shape the decarbonisation transformation of our industries across the globe. In 2022, Wärtsilä’s net sales totalled EUR 5.8 billion. Wärtsilä is listed on Nasdaq Helsinki.
www.wartsila.com