Balance sheet, financing and cash flow

Cash flow from operating activities for January-June 2013 totalled EUR 122 million (-154). The net working capital at the end of the period totalled EUR 508 million (485), the increase being mainly due to the timing of projects. Advances received at the end of the period totalled EUR 838 million (643). Cash and cash equivalents at the end of the period amounted to EUR 219 million (148).

Wärtsilä had interest-bearing debt totalling EUR 889 million (942) at the end of June 2013. The total amount of short-term debt maturing within the next 12 months was EUR 341 million, including EUR 239 million of Finnish Commercial Papers. Net interest-bearing debt totalled EUR 658 million (790).

The funding programmes at the end of June 2013 included long-term loans of EUR 549 million, undrawn long-term loans totalling EUR 150 million, and unutilised Committed Revolving Credit Facilities totalling EUR 529 million. The funding programmes also included Finnish Commercial Paper programmes totalling EUR 700 million.

The solvency ratio was 39.6% (37.6) and gearing was 0.40 (0.50). Key figures 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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