Operating result and profitability
The first quarter operating result (EBIT) before non-recurring items was EUR 90 million (70), or 8.9% of net sales (8.0). Including non-recurring items, the operating result was EUR 84 million (69) or 8.3% of net sales (7.8). Wärtsilä recognised EUR 6 million (1) of non-recurring items related to restructuring measures during the first quarter.
Financial items amounted to EUR -3 million (1). Net interest totalled EUR -3 million (-3). Profit before taxes amounted to EUR 81 million (96). Profit before taxes for the comparison period includes the sale of Wärtsilä’s Sato Oyj shares. Taxes amounted to EUR 18 million (23), implying an effective tax rate of 23%. Earnings per share were 0.31 euro (0.37) and equity per share was 8.64 euro (8.13). Return on investments (ROI) was 14.2% (16.0). Return on equity (ROE) was 14.9% (18.5).