Wärtsilä condemns the war in Ukraine. Human safety and prosperity are very important for Wärtsilä and we would like to have a peaceful and stable business environment wherever we operate. We have suspended all deliveries and new sales to Russia and are committed to complying with all the sanctions currently being implemented. We hope these sanctions will expedite a peaceful resolution.
Please find below a brief Q&A on the situation.
What is Wärtsilä’s view on the sanctions and the war?
Wärtsilä condemns the war in Ukraine. Human safety and prosperity are very important for Wärtsilä and we would like to have a peaceful and stable business environment wherever it operates.
Wärtsilä is committed to comply with the sanctions applicable to Wärtsilä.
Wärtsilä has decided to suspend all deliveries and new sales to Russia.
What kind of financial impact could the sanctions have on Wärtsilä?
The situation is evolving by the hour and many details are still unclear. It is too early to comment or speculate on potential impact. We monitor the situation closely and will take business action when needed, where needed.
Wärtsilä is committed to comply with the sanctions applicable to Wärtsilä.
Wärtsilä has decided to suspend all deliveries and new sales to Russia.
What is Wärtsilä’s exposure to Ukraine and Russia?
Russia represented ~2% of Wärtsilä’s total net sales in 2021. Sales to Ukraine are close to zero.
Do you continue to sell to customers in Russia? Will Wärtsilä suspend all sales or only new business?
Wärtsilä has suspended all deliveries and new sales to Russia. This goes for both existing contracts and projects in the pipeline.
What kind of role does Russia have in your procurement chain? How would you mitigate it in case the sanctions would remain for a longer time?
Procurement from Russia is insignificant.
What kind of business does Wärtsilä have in Russia?
Our main activities in Russia relate to the Marine Businesses (new build and services). Our activities in Energy are limited (small portion of service activities).
What kind of assets do you have in Russia?
Mainly office and service facilities.
Do you have any production in Russia?
No.
Do you have exposure to or operations in Belarus?
Belarus sales and supply are both insignificant.
Do you have ongoing projects in Russia? Are you going to stop those deliveries?
Yes, we have ongoing projects. In current circumstances, Wärtsilä has suspended all its deliveries and new sales to Russia.
