Wärtsilä Corporation Interim Report q3 2014

Balance sheet, financing and cash flow

Wärtsilä’s third quarter cash flow from operating activities amounted to EUR 68 million (139). For January-September 2014 the operating cash flow totalled EUR 240 million (261). Working capital totalled EUR 379 million (488) at the end of the review period. Advances received at the end of the period totalled EUR 747 million (799). Cash and cash equivalents at the end of the period amounted to EUR 400 million (254) and unutilised Committed Revolving Credit Facilities totalled EUR 599 million (599).

Wärtsilä had interest-bearing debt totalling EUR 679 million (800) at the end of September 2014. The total amount of short-term debt maturing within the next 12 months was EUR 131 million. Long-term loans amounted to EUR 548 million. Net interest-bearing debt totalled EUR 277 million (534) and gearing was 0.14 (0.31).

Liquidity preparedness
MEUR 30.9.2014 31.12.2013
Cash and cash equivalents 400 388
Unutilised committed credit facilities 599 699
Liquidity preparedness 999 1,087
% of net sales (rolling 12 months) 21 23
Commercial Papers - 14
Liquidity preparedness excluding Commercial Papers 999 1,073
% of net sales (rolling 12 months) 21 23
On 30 September 2014, the average maturity of the total loan portfolio was 44 months and the average maturity of the long-term debt was 45 months.

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