Wärtsilä states it wants to simplify its organisation and reporting structure. This means that Marine Systems will be discontinued as a reporting segment, while its Gas Solutions business unit will be divested.
Gas Solutions provides gas processing systems. However, the business unit has limited synergies with the rest of the company’s marine product portfolio, states Wärtsilä. Therefore, the organisation plans to move Gas Solutions to the Portfolio Business in preparation for a divestment. The net sales of Gas Solutions was EUR 293 million in the twelve-month period Q4/2022-Q3/2023.
In connection with this, Wärtsilä plans to move Exhaust Treatment and Shaft Line Solutions business units from Wärtsilä Marine Systems to Wärtsilä Marine Power as of January 1, 2024 to simplify the organisational structure. Consequently, Wärtsilä Marine Systems will no longer constitute an organisational unit or a reporting segment.
The combined net sales of Exhaust Treatment and Shaft Line Solutions was EUR 290 million in the twelve-month period Q4/2022-Q3/2023.
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Wärtsilä Marine
According to the plans, Wärtsilä Marine Power will change its name to Wärtsilä Marine as of January 1, 2024. It will be led by Roger Holm, currently President, Marine Power and Executive Vice President. Tamara de Gruyter will continue as Executive Vice President and member of the Wärtsilä Board of Management, focusing on the divestments of the portfolio businesses.
Following these planned changes, Wärtsilä will have two reporting segments as of January 1, 2024: Marine and Energy.
Picture: Wärtsilä Kampen, the Netherlands (copyright Wärtsilä Corporation).
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