Balance sheet, financing and cash flow

Wärtsilä's fourth quarter cash flow from operating activities amounted to EUR 187 million (-71). For January-December 2012, the cash flow from operating activities was EUR 153 million (232). Net working capital at the end of the period totalled EUR 509 million (235). The increase in net working capital is mainly due to the timing of projects. Advances received at the end of the period totalled EUR 695 million (563). Cash and cash equivalents at the end of the period amounted to EUR 225 million (592).

Wärtsilä had interest-bearing debt totalling EUR 794 million (652) at the end of December 2012. The total amount of short-term debt maturing within the next 12 months was EUR 249 million, including EUR 141 million of Finnish Commercial Papers. Net interest-bearing loan capital totalled EUR 567 million (58).

The funding programmes at the end of December 2012 included long-term loans of EUR 545 million and unutilised Committed Revolving Credit Facilities totalling EUR 554 million. The funding programmes also included Finnish Commercial Paper programmes totalling EUR 700 million.

The solvency ratio was 42.0% (41.3) and gearing was 0.31 (0.04). The increase in gearing relates mainly to the acquisition of Hamworthy.

Net working capital development

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Committed loans

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Gearing

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Note

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