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  • This is Wärtsilä OpenClose subpages
    • CEO review
    • Wärtsilä in brief OpenClose subpages
      • Corporate strategy
      • Our targets OpenClose subpages
        • Financial targets
        • Sustainability targets
      • The value of sustainable innovations
      • Sustainability highlights
    • Energy solutions OpenClose subpages
      • Operating environment
      • Strategy
      • Energy Solutions and sustainability
      • Energy Solutions' development in 2015
    • Marine Solutions OpenClose subpages
      • Operating environment
      • Strategy
      • Marine Solutions and sustainability
      • Marine Solutions' development in 2015
    • Services OpenClose subpages
      • Operating environment
      • Strategy
      • Services and sustainability
      • Services' development in 2015
    • Manufacturing review
    • Research and development
  • Sustainability OpenClose subpages
    • Wärtsilä's sustainability approach
    • Stakeholder relations
    • Sustainability management OpenClose subpages
      • Guiding principles OpenClose subpages
        • Code of Conduct
        • QEHS Policy
        • Employee practices
      • Management approach OpenClose subpages
        • People management
        • Environmental management
        • Occupational health and safety
        • Responsible business conduct
        • Product design principles
        • Supply chain management
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      • Economic OpenClose subpages
        • Economic performance
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      • Environment OpenClose subpages
        • Materials
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      • Social OpenClose subpages
        • Structural changes
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      • Materiality assessment
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      • Independent Assurance Report
    • GRI and UNGC index
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    • Corporate governance OpenClose subpages
      • Annual General Meeting
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      • Operations of the Board of Directors
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      • The President & CEO and the Deputy CEO
      • Operations of the Board of Management
    • Other management OpenClose subpages
      • Business management teams
      • Managing Directors of the subsidiaries
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      • Values and the control environment
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    • Related party transactions
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    • Salary and remuneration report 2015
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      • Strategic risks
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    • Shares and shareholders OpenClose subpages
      • The Wärtsilä share on Nasdaq Helsinki
      • Shareholders
    • Wärtsilä on the capital markets
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      • Financial information 2016
    • Annual summary of stock exchange releases
  • Board of Directors' report OpenClose subpages
    • Highlights 2015
    • Strategy
    • The year 2015 OpenClose subpages
      • Market development
      • Order intake and order book
      • Net sales and profitability
      • Balance sheet, financing and cash flow
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      • Strategic projects, acquisitions joint ventures and expansion of the network
      • Research and development, product launches
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      • Changes in management
      • Sustainable development
      • Shares and shareholders
      • Decisions by the AGM
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    • Market outlook
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    • Dividend proposal
  • Financials OpenClose subpages
    • Five years in figures
    • Calculations of financial ratios
    • Consolidated financial statements OpenClose subpages
      • Consolidated statement of income
      • Consolidated statement of comprehensive income
      • Consolidated statement of financial position
      • Consolidated statement of cash flows
      • Consolidated statement of changes in equity
      • Accounting principles for the consolidated financial statements
      • Notes to the consolidated financial statements OpenClose subpages
        • 1. Segment information
        • 2. Acquisitions
        • 3. Disposals
        • 4. Long-term construction contracts and operating and maintenance agreements
        • 5. Other operating income
        • 6. Material and services
        • 7. Employee benefit expenses
        • 8. Depreciation, amortisation and impairment
        • 9. Measures of profit and non-recurring items
        • 10. Financial income and expenses
        • 11. Income taxes
        • 12. Earnings per share
        • 13. Intangible assets
        • 14. Property, plant & equipment
        • 15. Investments in associates and joint ventures
        • 16. Available-for-sale financial assets
        • 17. Inventories
        • 18. Financial assets and liabilities by measurement category
        • 19. Other receivables
        • 20. Cash and cash equivalents
        • 21. Deferred taxes
        • 22. Pension obligations
        • 23. Equity
        • 24. Provisions
        • 25. Financial liabilities
        • 26. Other liabilities
        • 27. Derivative financial instruments
        • 28. Collateral, contingent liabilities and other commitments
        • 29. Related party disclosures
        • 30. Auditors' fees and services
        • 31. Exchange rates
        • 32. Subsidiaries
        • 33. Financial risks
    • Parent Company financial statements OpenClose subpages
      • Parent company income statement
      • Parent company balance sheet
      • Parent company cash flow statement
      • Accounting principles for the parent company
      • Notes to the parent company financial statements OpenClose subpages
        • 1. Other operating income
        • 2. Personnel expenses
        • 3. Depreciation and amortisation
        • 4. Financial income and expenses
        • 5. Extraordinary income and expenses
        • 6. Income taxes
        • 7. Fixed assets
        • 8. Non-current receivables
        • 9. Current receivables from Group companies
        • 10. Prepaid expenses and accrued income
        • 11. Shareholders' equity
        • 12. Liabilities
        • 13. Accrued expenses and deferred income
        • 14. Liabilities to Group companies
        • 15. Collateral, contingent liabilities and other commitments
        • 16. Related party loans and other commitments
        • 17. Auditor's fees and services
    • Proposal of the Board
    • Auditor´s report
    • Quarterly figures 2014-2015

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Annual Report 2013

q4 2013

q3 2013

q2 2013

q1 2013

Annual Report 2014

q4 2014

q3 2014

q2 2014

q1 2014

Annual Report 2015

q4 2015

q3 2015

q2 2015

q1 2015

q1 2016

q2 2016

q1 2016

q2 2016

q3 2016

q4 2016

Annual Report 2016

Business Management teams

Each business head is supported by a Business Management team.

Energy Solutions

Javier Cavada Camino
President, Energy Solutions and acting Vice President, Sales, Europe & Africa
Born 1975, PhD (Eng.)

Tore Björkman
Vice President, LNG & Nuclear
Born 1957, B.Sc. (Mech. Eng.)

Minna Blomqvist
Vice President, Human Resources
Born 1969, M.Sc. (Eng.)

Jussi Heikkinen
Vice President, Marketing & Business Development
Born 1955, M.Sc. (Energy and Power Plant Technology)

Thomas Hägglund
Vice President, Technology and Solutions
Born 1962, M.Sc. (Eng.)

Antti Kämi
Vice President, Project Management
Born 1964, M.Sc. (Civil Eng.)

Caj Malmsten
Vice President, Finance & Business Control
Born 1972, M.Sc. (Econ.)

Markus Pietikäinen
Vice President, Sales, Americas
Born 1975, M.Sc. (Econ.)

Sushil Purohit
Vice President, Sales, Middle East & Asia
Born 1972, B.Sc. (Eng.), MBA

Laura Susi-Gamba
Vice President, Legal Affairs
Born 1963, LL.M.

Niklas Åberg
Vice President, Quality Management
Born 1967, M.Sc. (Eng.)

Marine Solutions

Roger Holm
President, Marine Solutions
Born 1972, M.Sc. (Econ.)

Arjen Berends
Vice President, Finance & Control
Born 1968, MBA

Aaron Bresnahan
Vice President, Marine Solutions Sales
Born 1969, MBA & MA (Strategic Studies)

Sinikka Ilveskoski
Vice President, Legal & Contract Management
Born 1967, LL.M.

Timo Koponen
Vice President, Flow & Gas Solutions
Born 1969, M.Sc. (Econ.)

Stephan Kuhn
Vice President, Electrical & Automation
Born 1962, MBA

Juha Kytölä
Vice President, Environmental Solutions
Born 1964, M.Sc. (Eng.)

Arto Lehtinen
Vice President, Propulsion
Born 1971, M.Sc. (Eng.)

Helena Telaranta
Vice President, Human Resources
Born 1973, M.Sc. (Econ.)

Stefan Wiik
Vice President, Engines
Born 1971, B.Sc. (Eng.)

Services

Pierpaolo Barbone
President, Services & Deputy to the CEO
Born 1957, M.Sc. (Min. Eng.)

Guido Barbazza
Vice President, Emerging Business
Born 1960, M.Sc. (Mech. Eng.)

Serge Begue
Vice President, Area South Europe & Africa
Born 1954, Mech. Eng.

Peter Bjurs
Vice President, Finance & Control
Born 1965, M.Sc. (Econ.)

Henri van Boxtel
Vice President, Area Middle East & Asia
Born 1959, B.Sc. (Econ.), Nautical degree

Tamara de Gruyter
Vice President, Propulsion System Services and Managing Director of WQDC
Born 1972, B.Sc., Shipbuilding Engineering

Tomas Hakala
Vice President, 4-Stroke Engine Services
Born 1968, B.Sc. (Mech.)

Kai Kamila
Vice President, Human Resources
Born 1960, M.Ed. (Master of Education)

Ralf Lindbäck
Vice President, Legal Affairs
Born 1958, LL.M.

Stefan Nysjö
Vice President, Area North Europe
Born 1970, B.Sc. (Mech.)

Vesa Riihimäki
Vice President, Wärtsilä Quality
Born 1966, M.Sc. (Eng.)

Tomas Rönn
Vice President, Area Americas
Born 1961, B.Sc. (Electrical)

Sini Spets
Vice President, Business Development
Born 1974, M.Sc. (Psychology)

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