Wärtsilä Corporation Annual report 2014

Quick look: Board of directors report

HIGHLIGHTS OF 2014

Wärtsilä’s performance in 2014 was in line with the company’s long-term targets and with the guidance set for the year. Supported by a strong fourth quarter, net sales increased by 4%. Profitability reached 11.9%.

Wärtsilä continued to develop its business by expanding its product offering, strengthening its manufacturing capabilities in key emerging markets, and pursuing growth opportunities through acquisitions.

Key figures

Net sales, MEUR

4 779

Operating result, MEUR

569

% of the net sales

11.9

Profit before taxes

494

Earnings per share, EUR 

1.76

Cash flow from operating activities, MEUR 

452

Gearing

0.05

 

 

Highlights

New partnerships

Two joint venture agreements signed with China State Shipbuilding Corporation. One will take over Wärtsilä’s 2-stroke engine business and the other will manufacture medium and large bore medium-speed diesel and dual-fuel engines.

Pursuing growth through acquisitions

In December Wärtsilä announced the acquisition on L3 Marine Systems International, which will enhance our competences and offering in electrical and automation systems.

Dividend proposal

The Board of Directors proposes that a dividend of 1.15 euro per share be paid for the financial year 2014, which represents 65.4% of earnings per share.

Guidance for 2015

Wärtsilä expects its net sales for 2015 to grow by 0-10% and its operational profitability (EBIT% before non-recurring items) to be between 12.0-12.5%. The guidance excludes the impact of the L-3 Marine Systems International acquisition.

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