Wärtsilä Corporation Interim Report q2 2014

Balance sheet, financing and cash flow

Wärtsilä’s second quarter cash flow from operating activities amounted to EUR 61 million (38). For January-June 2014 the operating cash flow totalled EUR 172 million (122). Working capital totalled EUR 339 million (508) at the end of the review period. Advances received at the end of the period totalled EUR 840 million (838). Cash and cash equivalents at the end of the period amounted to EUR 345 million (219) and unutilised Committed Revolving Credit Facilities totalled EUR 599 million (529).

Wärtsilä had interest-bearing debt totalling EUR 696 million (889) at the end of June 2014. The total amount of short-term debt maturing within the next 12 months was EUR 102 million. Long-term loans amounted to EUR 595 million. Net interest-bearing debt totalled EUR 350 million (658) and gearing was 0.19 (0.40).

Liquidity preparedness
MEUR 30.6.2014 31.3.2014
Cash and cash equivalents 345 242
Unutilised committed credit facilities  599  699
Liquidity preparedness 944 941
% of net sales (rolling 12 months) 20 20
Commercial Papers  4
Liquidity preparedness excluding Commercial Papers 944 937
% of net sales (rolling 12 months)  20  20
On 30 June 2014, the average maturity of the total loan portfolio was 46 months and the average maturity of the long-term debt was 47 months.

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