Our target is to grow faster than global GDP.
In 2014, Wärtsilä's net sales increased by 4% to EUR 4,779 million. Wärtsilä's CAGR 2004−2014 was 7.9%.
Our operating profit margin (EBIT%) target is 14% at the peak of the cycle. At the trough of the cycle, our target is to keep the operating profit margin above 10%.
In 2014, our operating profit was EUR 569 million, 11.9% of net sales.
Our target is to maintain gearing below 0.50.
In 2014, our gearing was 0.05.
Our target is to pay a dividend equivalent to 50% of earnings over the cycle.
The Board of Directors proposes that a dividend of 1.15 euro per share be paid for the financial year 2014, which represents 65% of of operational earnings.