Home Technical Wärtsilä provides restated financial information for 2019 to reflect the recent establishment...

Wärtsilä provides restated financial information for 2019 to reflect the recent establishment of the Portfolio Business entity

Wärtsilä has established Portfolio Business as an independent entity alongside its Marine and Energy Businesses. The objective of running Portfolio Business as a stand-alone entity is to strengthen the focus on businesses which are critical to strategy execution and to accelerate performance improvement. Wärtsilä’s financial reporting will reflect this change in organisational structure as of the first quarter of 2020.

Wärtsilä Marine Business and Wärtsilä Energy Business will constitute the reportable segments of the group, while Portfolio Business will be reported as other business activities. Portfolio Business includes the following business units: entertainment systems, power converter products and UPS systems, tank control systems, water and waste, valve solutions, as well as hydropower solutions and turbine services. These business units have either limited synergies with Wärtsilä’s other products and services or limited growth potential within Wärtsilä.

Wärtsilä’s financial information for 2019 has been adjusted to reflect the new reporting structure. The restated 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.

Previous articleSwire Shipping strengthens commitment to the Asia Pacific region with entry of its next generation of purpose-built vessels
Next articleCOVID-19 And Embarked Security Teams: Security At What Cost?