Balance sheet, financing and cash flow

Wärtsilä’s first quarter cash flow from operating activities amounted to EUR 84 million (28). The net working capital at the end of the period totalled EUR 446 million (240), the increase being mainly due to the timing of projects. Advances received at the end of the period totalled EUR 810 million (651). Cash and cash equivalents at the end of the period amounted to EUR 205 million (242). Dividends totalling EUR 197 million were paid during the first quarter. 

Wärtsilä had interest-bearing debt totalling EUR 890 million at the end of March 2013. The total amount of short-term debt maturing within the next 12 months was EUR 312 million, including EUR 197 million of Finnish Commercial Papers. Net interest-bearing debt totalled EUR 668 million.

The funding programmes at the end of March 2013 included long-term loans of EUR 578 million and unutilised Committed Revolving Credit Facilities totalling EUR 579 million. The funding programmes also included Finnish Commercial Paper programmes totalling EUR 700 million.

The solvency ratio was 39.0% (36.6) and gearing was 0.42 (0.41). Key figures for the corresponding period 2012 have been restated due to changes in pension accounting (IAS 19 Employee benefits). The impact is described in the IFRS amendments section.


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