Wärtsilä Corporation Annual report 2014

Note

Make a note?

Five years in figures
Restated Restated
MEUR 2014 2013** 2012* 2011 2010
Net sales 4 779 4 607 4 725 4 209 4 553
of which outside Finland % 98.9 99.0 98.8 99.3 99.4
Exports from Finland 2 280 2 306 2 349 2 458 2 584
Personnel on average 18 042 18 339 18 930 17 708 18 000
of which in Finland 3 582 3 662 3 599 3 421 3 326
Order book 4 530 4 311 4 492 4 007 3 795
From the consolidated statement of income
Depreciation, amortisation and impairment 115 120 139 113 116
Share of result of associates and joint ventures 26 28 9 8 5
Operating result before non-recurring items 569 557 517 469 487
as a percentage of net sales % 11.9 12.1 10.9 11.1 10.7
Operating result 522 537 483 445 412
as a percentage of net sales % 10.9 11.7 10.2 10.6 9.1
Financial income and expenses -28 -19 -31 -16 -13
Net income from available-for-sale financial assets - 25 1 - 149
Profit before taxes 494 544 453 429 548
as a percentage of net sales % 10.3 11.8 9.6 10.2 12.0
Profit for the financial period from the continuing operations 389 425 - - -
Loss for the financial period from the discontinued operations -37 -31 - - -
Net profit for the financial period 351 393 344 293 397
From the consolidated statement of financial position
Non-current assets 1 884 1 935 2 000 1 577 1 483
Current assets 3 294 3 274 3 036 3 023 3 213
Assets held for sale 102 - - - -
Total equity attributable to equity holders of the parent company 1 960 1 844 1 766 1 636 1 638
Non-controlling interests 45 40 26 30 26
Interest-bearing debt 666 665 794 652 628
Non-interest-bearing liabilities 2 554 2 660 2 451 2 282 2 404
Liabilities directly attributable to assets held for sale 55 - - - -
Total equity and liabilities 5 280 5 209 5 036 4 600 4 696
From the consolidated statement of cash flows
Cash flow from operating activities 452 578 153 232 663
Cash flow from investing activities -71 -79 -471 -166 79
Cash flow from financing activities -210 -324 -47 -247 -216
Gross capital expenditure 101 134 513 187 98
as a percentage of net sales % 2.1 2.9 10.9 4.4 2.2
Research and development expenses 139 138 188 162 141
as a percentage of net sales % 2.9 3.0 4.0 3.8 3.1
Dividends paid 227*** 207 197 178 173
Extra dividend - - - - 99
Dividends total 227*** 207 197 178 271
Financial ratios
Earnings per share, basic and diluted (EPS)**** EUR 1.76 1.98 1.72 1.44 1.96
Dividend per share**** EUR 1.15*** 1.05 1.00 0.90 1.38
Dividend per earnings % 65.4*** 53.0 58.1 62.7 70.3
Interest coverage 15.9 18.1 13.9 14.6 18.9
Return on investment (ROI) % 18.7 21.2 20.4 20.4 26.0
Return on investment (ROI), continuing operations % 20.3 22.6 - - -
Return on equity (ROE) % 18.0 21.4 20.1 17.5 25.0
Return on equity (ROE), continuing operations % 20.0 23.1 - - -
Solvency ratio % 43.5 43.9 41.3 41.3 40.8
Gearing 0.05 0.15 0.32 0.04 -0.09
Equity per share**** EUR 9.94 9.35 8.95 8.30 8.30
Working capital (WCAP) EUR 251 313 465 235 118
* The figures in the comparison period 2012 have been restated during year 2013 according to the revised IAS 19. Figures in comparison periods 2010 and 2011 have not been restated.
** Figures related to the statement of income in the comparison period 2013 have been restated due to the two-stroke business being classified as discontinued operations. Figures in comparison periods 2010, 2011 and 2012 have not been restated.
*** Proposal of the Board of Directors.
**** Free share issue approved by Wärtsilä Corporation’s Annual General Meeting on 3 March 2011 increased the total number of Wärtsilä shares to 197,241,130. The figures in the comparison period 2010 have been adjusted to reflect the increased number of shares.

Note

Make a note?

Close

For the best experience of our Annual Report, please update your browser to a newer version.