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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
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      • Operating environment
      • Strategy
      • Services and sustainability
      • Services' development in 2015
    • Manufacturing review
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  • 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
        • Market presence
      • Environment OpenClose subpages
        • Materials
        • Energy
        • Water
        • Emissions
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        • Structural changes
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      • Materiality assessment
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      • Independent Assurance Report
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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
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      • Business management teams
      • Managing Directors of the subsidiaries
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      • Values and the control environment
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    • Audit
    • Related party transactions
    • Insider management
    • Salary and remuneration report 2015
    • Risks and risk management OpenClose subpages
      • Strategic risks
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      • Risk profiles and responsibilities
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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
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  • 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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      • Restructuring programmes
      • Changes in management
      • Sustainable development
      • Shares and shareholders
      • Decisions by the AGM
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    • Market outlook
    • Prospects for 2016
    • 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
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        • 18. Financial assets and liabilities by measurement category
        • 19. Other receivables
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        • 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
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      • 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

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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

Environmental management

The environment is the key element in Wärtsilä's approach to sustainability. For us, environmental responsibility has two dimensions: products and operations. Most of our efforts to improve our environmental performance, also within our operations, are conducted as part of product development and improvement. This work is supported by operational measures, which are based on achieving high environmental standards and continuous improvement.

Continual improvement of environmental performance requires the organisation to constantly work in a systematic way. This work is guided by our strategy and its environmental targets, the Code of Conduct, and the company's policies relating to Quality, Environment, Health and Safety, and it is co-ordinated and monitored by the EHSS Management team. In developing our operations, processes, and products, we endeavour to use the latest technologies available for improving efficiency in areas such as material and energy consumption, as well as for reducing and managing emissions and waste. To increase Wärtsilä employees' awareness of environmental aspects, an e-learning tool was introduced in 2015, which both explains the environmental aspects of Wärtsilä’s products, as well as an individual's possibilities to reduce environmental impacts in office environment

Wärtsilä has defined a process for the development of a product environmental strategy and its targets. The process includes the identification of aspects and impacts of the products, the means to influence these impacts, the identification of enabling and restricting boundary conditions, and the analyses of the information and the preparation and implementation of the strategy and the targets.

Wärtsilä continuously develops and improves its operations and products with the help of certified environmental management systems. Our principle is to apply the certified EHS (Environmental, Health and Safety) management systems based on ISO 14001 and OHSAS 18001 in all Group companies, excluding those companies focusing purely on sales. These units are required to apply Wärtsilä's internal EHS model. Our EHS management systems cover all the operations of our subsidiaries, which means that we are able to promote environmental protection and reduce adverse impacts on a wide front.

The company's EHS management system focuses especially on complying with legal requirements, identifying and reducing environmental aspects, impacts and risks, training personnel and clearly defining their responsibilities, full documentation of activities and procedures, action in emergencies, and continuous improvement of environmental performance. The company's subsidiaries set their own targets covering significant environmental aspects of their operations and monitor the overall performance of the management systems. At the end of 2015, 49 Wärtsilä companies operated with a certified environmental management system. These certified environmental management systems cover roughly 88% of Wärtsilä's total workforce.

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