Close

You have selected 0 articles to be compiled in your PDF. Please select any other articles you like to add or remove from the list below. Click on the Download button to download your compiled PDF.

  • 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
    • Sustainability data OpenClose subpages
      • Economic OpenClose subpages
        • Economic performance
        • Market presence
      • Environment OpenClose subpages
        • Materials
        • Energy
        • Water
        • Emissions
        • Effluents and waste
        • Products and services
        • Expenditures
      • Social OpenClose subpages
        • Structural changes
        • Employment
        • Labour / management relations
        • Occupational health and safety
        • Training and education
        • Diversity and Equal opportunity
        • Product and Service Labelling
      • Compliance
    • Report profile OpenClose subpages
      • Materiality assessment
      • Reporting principles
      • Independent Assurance Report
    • GRI and UNGC index
  • Governance OpenClose subpages
    • Corporate governance OpenClose subpages
      • Annual General Meeting
    • Board of Directors OpenClose subpages
      • Operations of the Board of Directors
      • Responsibilities
      • Board committees
    • Board of Management OpenClose subpages
      • 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
    • Internal control OpenClose subpages
      • Values and the control environment
      • Business processes
      • Guidelines and communication
      • Monitoring
    • Audit
    • Related party transactions
    • Insider management
    • Salary and remuneration report 2015
    • Risks and risk management OpenClose subpages
      • Strategic risks
      • Operational risks
      • Hazard risks
      • Financial risks
      • Risk profiles and responsibilities
  • Investors OpenClose subpages
    • Shares and shareholders OpenClose subpages
      • The Wärtsilä share on Nasdaq Helsinki
      • Shareholders
    • Wärtsilä on the capital markets
    • Analysts
    • Information for shareholders OpenClose subpages
      • 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
      • Capital expenditure
      • Strategic projects, acquisitions joint ventures and expansion of the network
      • Research and development, product launches
      • Personnel
      • Restructuring programmes
      • Changes in management
      • Sustainable development
      • Shares and shareholders
      • Decisions by the AGM
      • Risk and uncertainties
    • 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
        • 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

Generating PDF file... 0%

Your PDF report is being generated. Handling and creating the file may take a while depending on amount of content.

Abort

Ready

PDF is ready

Error

PDF generation failed. Please try again later.

Close

Emailed report includes selected content and your notes. Changes made to the content and to the notes of the report by both the sender and the receiver will also be always shown in the future when arriving to the report via the sent link.

Cancel

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

Research and development

Wärtsilä is strongly committed to research and development. The aim of its R&D activities is to continuously strengthen the company’s technology leadership position, and to further improve its competitive edge in the global marine and energy markets. This is achieved by developing products that are based on reliable, efficient, and cost-competitive technologies, and which address customer needs.

The focus of Wärtsilä’s R&D activities is on products and solutions that are flexible, efficient, reliable, safe, cost-efficient to operate, and that have a minimal environmental footprint throughout their lifecycles. A substantial proportion of the company’s investments in product development is targeted at securing environmental compliancy and providing short- and long-term benefits for the company’s customers.

By focusing on the initial stages of the development process and by utilising modularity, simulation, virtual testing, and validation, Wärtsilä is able to reduce the lead time for new solutions without compromising quality, reliability and safety aspects.

Validation testing on site with existing installations, in cooperation with the customers, is an important element in furthering the improved performance of existing solutions. It also assists in finding new and better solutions while, at the same time, gaining long-term experience under real field conditions. A field installation also provides an opportunity to gain valuable learning and insight regarding new technologies and solutions.

When the product has successfully passed all the validation process steps, both in the laboratory and in the field, and its performance meets Wärtsilä's high standards, it can be delivered to the market.

Wärtsilä protects innovation and competitiveness through close attention to Intellectual Asset Management and the continuous development of internal key competences. Networks and clusters are formed to further extend the company’s know-how, skills, and capabilities by committing to long-term relationships with suppliers, engineering companies, university partners, and with licensees and other Original Equipment Manufacturers.

Wärtsilä2015-graafit-EN-28.svg
W_CHART_EN_05.svg

The HERCULES programme ad CLIC innovation, sustainable innovation through partnerships

The long-term HERCULES R&D programme was conceived in 2002, and has been set up within the context of the EU's sixth and seventh Framework programmes. Sharing a joint vision, the major low- and medium-speed engine manufacturers, Wärtsilä, Winterthur Gas&Diesel, and MAN Diesel & Turbo, are collaborating with universities, research institutions, and other industrial partners to develop new technologies for marine engines and related systems. The fourth phase kicked off in 2015 in the form of the HERCULES-2 project that aims at creating fuel flexible large marine engines that are optimally adaptive to their operating environment.

The project HERCULES-2 comprises four R&D Work Package Groups:

  • I: Fuel flexible engine
  • II: New Materials (Applications in engines)
  • III: Adaptive Powerplant for Lifetime Performance
  • IV: Near-Zero Emissions Engine

The HERCULES-2 consortium comprises 32 partners of which 30% are Industrial and 70% are Universities/Research Institutes. HERCULES-2 is planned to run for three years, from 2015 to 2018, with a total budget of EUR 25 million. The project was made possible by a EUR 20 million funding through the European Commission Horizon 2020 innovation Programme and a contribution from the Swiss government.

2015 saw the merger of CLEEN Oy and Finnish Bioeconomy Cluster FIBIC Oy into one new company, CLIC Innovation Oy. CLIC is an innovation company that is directly involved in the bioeconomy and cleantech investments of the Government Programme with a determined objective of global impact. CLIC will identify and bring together value chains and offer a wide range of novel services for the entire field of research, development, and innovation. Wärtsilä participates in the Future Flexible Energy Systems (FLEXe) research programme, which was started on 1 May 2015. FLEXe is a consortium in Finland gathering 27 organisations covering the entire value network of energy systems. The aim is to create novel technological and business concepts enhancing the radical transition from the current energy systems towards sustainable systems. FLEXe combines smartness, flexibility, environmental performance, and economic success with customer acceptance and engagement.

Note

Make a note?

Close

For the best experience of our Annual Report, please update your browser to a newer version.