Wartsila Oyj B

Wartsila provides lifecycle power solutions for the marine and energy markets. Co.'s operations can be divided into three segments: Power Plants, in which Co. is a supplier of flexible baseload power plants of up to 600 MW operating on various gaseous and liquid fuels; Ship Power, in which Co. is a provider of products and integrated solutions such as medium-speed diesel and gas engines, low-speed engines, propulsion systems and gears, and seals and bearings; as well as Services, in which Co. supports its customers throughout the life cycle of their installations and provides services including spare parts to operational and maintenance service for both the energy and marine markets.
  • TickerWRT1V
  • ISINFI0009003727
  • ExchangeNasdaq Nordic Helsinki
  • SectorIndustrial Engineering
  • CountryFinland

Analysts

Anders Idborg ...
  • Olof Cederholm

Wartsila - Restored confidence not in sight

November 26 CMD comes in challenging times Will be difficult to alleviate concerns; high Q4 hurdle 8-year low EV/S, but turnaround elusive

Anders Idborg ...
  • Karl Bokvist
  • Olof Cederholm

Powerpoint Sector Report - The Capital Goods Data Miner – November 2019

Q3 reports held up better than expected and the sector rallied 15% over the results season. At the same time, demand indicators continue to be mostly negative and point to further pressure on estimates for 2020 (particularly if currency support would wane). We favour names with company-specific drivers and valuation support, and continue to be cautious on unusually expensive low-beta names. Our key long ideas are: Alfa Laval, Electrolux, Metso, Nokian Tyres We are cautious on: Assa Abloy, Autoliv, Kone, Nibe

Martin Arnell ...
  • Niklas Wetterling
  • Ole-Andreas Krohn
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen
  • Tomi Railo

Northern Lights

Tomi Railo

Wärtsilä (Sell, TP: EUR8.50) - Power failure continues

We have downgraded Wärtsilä to SELL (HOLD) and cut our target price to EUR8.5 (10). We have lowered our 2020–2021e EPS by c17% on average, due to weaker than expected Q3 orders, backlog, and profits, as well as a lowered Energy market outlook. We now expect 2020 underlying earnings to decline YOY.

Aksel Øverland Engebakken ...
  • Anders Idborg
  • Daniel Thorsson
  • Erik Moberg
  • Jesper Birch-Jensen
  • Ludvig Kapanen
  • Martin Melbye
  • Olof Cederholm
  • Oskar Vikström
  • Tobias Kaj
  • Viktor Sundberg

Talking Points - Autoliv (Sell): Down to SELL, valuation overextended

Epiroc (Hold) Post-results: Heavy loader hits pebble Margin recovery in ’20 far from certain Too expensive at 12m fwd EV/EBIT c. 11x; down to SELL

Anders Idborg ...
  • Olof Cederholm

Wartsila - Restored confidence not in sight

November 26 CMD comes in challenging times Will be difficult to alleviate concerns; high Q4 hurdle 8-year low EV/S, but turnaround elusive

Anders Idborg ...
  • Karl Bokvist
  • Olof Cederholm

Powerpoint Sector Report - The Capital Goods Data Miner – November 2019

Q3 reports held up better than expected and the sector rallied 15% over the results season. At the same time, demand indicators continue to be mostly negative and point to further pressure on estimates for 2020 (particularly if currency support would wane). We favour names with company-specific drivers and valuation support, and continue to be cautious on unusually expensive low-beta names. Our key long ideas are: Alfa Laval, Electrolux, Metso, Nokian Tyres We are cautious on: Assa Abloy, Autoliv, Kone, Nibe

Tomi Railo

Wärtsilä (Sell, TP: EUR8.50) - Power failure continues

We have downgraded Wärtsilä to SELL (HOLD) and cut our target price to EUR8.5 (10). We have lowered our 2020–2021e EPS by c17% on average, due to weaker than expected Q3 orders, backlog, and profits, as well as a lowered Energy market outlook. We now expect 2020 underlying earnings to decline YOY.

Aksel Øverland Engebakken ...
  • Anders Idborg
  • Daniel Thorsson
  • Erik Moberg
  • Jesper Birch-Jensen
  • Ludvig Kapanen
  • Martin Melbye
  • Olof Cederholm
  • Oskar Vikström
  • Tobias Kaj
  • Viktor Sundberg

Talking Points - Autoliv (Sell): Down to SELL, valuation overextended

Epiroc (Hold) Post-results: Heavy loader hits pebble Margin recovery in ’20 far from certain Too expensive at 12m fwd EV/EBIT c. 11x; down to SELL

Anders Idborg ...
  • Olof Cederholm

Wartsila - That sinking feeling

Much lower order drop increases concern Solution to problem projects gradual and not imminent 2020e EPS down by 9%, outcomes turning binary

Insider bought: A director bought 1,640 shares at 41.394EUR and

A director at Wartsila Oyj Abp bought 1,640 shares at 41.394EUR and the significance rating of the trade was 65/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names...

Martin Arnell ...
  • Niklas Wetterling
  • Ole-Andreas Krohn
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen
  • Tomi Railo

Northern Lights

Alexander Aukner ...
  • Christoffer Wang Bjørnsen
  • Eivind Sars Veddeng
  • Frank Maaø
  • Karl-Johan Bonnevier
  • Ole-Andreas Krohn
  • Paul Harper
  • Rune Majlund Dahl
  • Stefan Gauffin
  • Tomi Railo

Northern Lights

Joachim Gunell ...
  • Ole-Andreas Krohn
  • Tomi Railo

Northern Lights

Christer Magnergård ...
  • Christoffer Wang Bjørnsen
  • Håkon Astrup
  • Jon Berggren
  • Karl-Johan Bonnevier
  • Martin Arnell
  • Mattias Holmberg
  • Niclas Gehin
  • Nicolas McBeath
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Stefan Gauffin
  • Tomi Railo

Weak report across the board

Jon Masdal ...
  • Karl-Johan Bonnevier
  • Martin Huseby Karlsen
  • Ole-Andreas Krohn
  • Tomi Railo

Northern Lights

Thanks to a better fundamental star rating, WARTSILA OYJ ABP sees an upgrade to Neutral

The independent financial analyst theScreener just awarded an improved star rating to WARTSILA OYJ ABP (FI), active in the Industrial Machinery industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 3 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date September 13, 2019, the closing price was EUR 11.60 and its expected value was estimated at EUR 11.29.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

MarketLine Department

EnPro Industries, Inc. - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's EnPro Industries, Inc. Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by EnPro Industries, Inc. since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advan...

MarketLine Department

Sevan Marine ASA - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Sevan Marine ASA Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Sevan Marine ASA since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key H...

WARTSILA – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

Wärtsilä - March 07th 2019

In general, Wärtsilä is in compliance with the Finnish regulations relating the organisation and procedures of the Annual General Meeting. Under ITEM 13, the (re-)election of the board of directors is proposed. The independence ratio on the board will under normal circumstances be 37.5%, indicating that there is insufficient independent representation on the board. In addition, ECGS notes that there are only two women serving on the board, which is below its threshold regarding gender diversity. ECGS furthermore notes that board Chairman, Mr. Lilius, is currently chairing the remuneration com...

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