Wärtsilä Corporation Annual report 2014

Wärtsilä on the capital markets 2014

Wärtsilä’s IR team, consisting of the CEO, CFO, IR Director and IR Officer, participated in over 330 investor meetings during 2014. IR also maintained regular contact with equity research analysts throughout the year. Meetings were conducted in North America, the UK, continental Europe, and in the Nordic countries. In addition to one-on-one and group meetings, Wärtsilä hosted visits to its manufacturing site in Vaasa and participated in several broker arranged field trips in Asia. The IR team also attended 10 institutional investor conferences in Finland and abroad. During the year, Wärtsilä's foreign ownership represented 48% (51) of the total shareholder base. The largest percentage of foreign shares was held by investors in Sweden, the United Kingdom and the United States.

During the year, Wärtsilä gave presentations at events aimed at domestic private investors. Such events included a retail investment fair arranged by Arvopaperi, and a retail investor evening organised jointly by the communications agency Kreab Gavin Anderson and Espoo-Kauniaisten osakesäästäjät. In 2014, retail investors accounted for approximately 20% (21) of Wärtsilä's shareholder base.

Wärtsilä's Investor Relations policy

The ultimate objective of Wärtsilä's Investor Relations is to produce accurate, sufficient, and up-to-date information regarding the development of Wärtsilä's business operations, strategy, markets, and financial position. This is to ensure that the capital markets have the relevant information concerning Wärtsilä in order to determine the fair value of the company's shares. To achieve this objective, Wärtsilä publishes annually three interim reports, a financial statements bulletin, an annual report, and stock exchange releases. Furthermore, Wärtsilä's management conducts regular discussions with analysts and investors, both in Finland and abroad. Wärtsilä's web pages serve as an archive for all current and historical data on factors affecting the value of its shares.


Guidance on Wärtsilä's prospects is published in the Financial statements bulletin and in the Interim reports. The most recently published prospects statement is repeated in the Annual Report. The published prospects consist of the net sales and profitability (EBIT%) forecasts, which are approved by the Board of Directors. Wärtsilä does not publish quarterly result forecasts.

Should there be a change in business circumstances that could affect the prospects, Wärtsilä will publish changes to the prospects in accordance with prevailing regulations.

Analyst reports

Wärtsilä will review, upon request by an analyst, his or her earnings model or report only for factual accuracy or information that is in the public domain. Wärtsilä does not comment or take any responsibility for estimates or forecasts published by capital market representatives.

Silent period

Wärtsilä observes a three-week silent period preceding the publication of its results to prevent revealing unpublished financial information. During this period, the Company's representatives do not meet with investors or analysts or comment on its financial position.

Disclosure policy and financial communications

Wärtsilä discloses information on its goals, financial position, and business operations in an open, timely, truthful, and systematic manner so as to enable stakeholders to form a true and fair view of the company. Wärtsilä publishes stock exchange releases, press releases, and trade press releases. Wärtsilä’s subsidiaries publish press releases with local relevance.

Stock exchange releases are published on matters that could affect share price development. Press releases provide information on business-related news or other news of general interest to our stakeholders, which are not price sensitive in nature. Releases to the trade press provide more detailed information on Wärtsilä’s products and technologies. All stock exchange releases are published in Finnish, Swedish and English. Press releases are published in English and can also be published in Finnish and Swedish. Trade press releases are only published in English. Stock exchange releases and press releases are available on Wärtsilä's website immediately following publication.


Relations with the company's investors and analysts are handled by IR Director Natalia Valtasaari together with the IR team. General inquiries can be sent to investor.relations@wartsila.com.

Natalia Valtasaari
Director, Investor Relations
Tel. +358 10 709 5637

Mari Hamarila
Investor Relations Officer
Tel. +358 50 364 3413

Alexandra Carlzén
Investor Relations Coordinator
Tel. +358 10 709 5445

Wärtsilä's corporate communications and media relations are the responsibility of Atte Palomäki, Executive Vice President, Communications & Branding.

Atte Palomäki
Executive Vice President, Communications & Branding
Tel. +358 10 709 5599


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