Wärtsilä is simplifying its structure by ending Marine Systems as a reporting segment. To streamline further, they’re divesting the Gas Solutions unit, seeing limited synergy with their marine portfolio.
Key Moves by Wärtsilä:
- Streamlining,
- Divesting, and
- Reporting Structure Overhaul
Leadership Changes
Gas Solutions, a gas processing systems provider, will move to the Portfolio Business for eventual divestment due to strategic misalignment. Wärtsilä’s Gas Solutions had EUR 293 million in sales (Q4/2022-Q3/2023).
They’re relocating Exhaust Treatment and Shaft Line Solutions from Marine Systems to Marine Power on Jan 1, 2024, discontinuing Marine Systems as a unit. Marine Power will become Wärtsilä Marine, led by Roger Holm, while Tamara de Gruyter focuses on Portfolio Businesses’ divestments.
New Reporting Structure
Wärtsilä’s new reporting structure from Jan 1, 2024: Marine and Energy segments, while Portfolio Business will be under other activities.
Financial reports will reflect this change in Q1/2024, with restated info published then. Combined sales of Exhaust Treatment and Shaft Line Solutions totaled EUR 290 million (Q4/2022-Q3/2023).
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Source: Wärtsilä
