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Five years in figures
Restated Restated
MEUR 2016 2015 2014 2013* 2012**
Net sales 4 801 5 029 4 779 4 607 4 725
of which outside Finland % 97.5 97.8 98.9 99.0 98.8
Exports from Finland 1 804 1 936 2 280 2 306 2 349
Personnel on average 18 332 18 565 18 042 18 339 18 930
of which in Finland 3 482 3 580 3 582 3 662 3 599
Order book 4 696 4 882 4 530 4 311 4 492
From the consolidated statement of income
Depreciation, amortisation and impairment 138 124 115 120 139
Share of result of associates and joint ventures 14 17 26 28 9
Comparable operating result 583 612 569 557 517
as a percentage of net sales % 12.1 12.2 11.9 12.1 10.9
Operating result 532 587 522 537 483
as a percentage of net sales % 11.1 11.7 10.9 11.7 10.2
Comparable adjusted EBITA 618 643 594 589 552
as a percentage of net sales % 12.9 12.8 12.4 12.8 11.7
Financial income and expenses -53 -34 -28 -19 -31
Net income from available-for-sale financial assets - - - 25 1
Profit before taxes 479 553 494 544 453
as a percentage of net sales % 10.0 11.0 10.3 11.8 9.6
Profit for the financial period from the continuing operations 357 429 389 425 -
Profit/loss for the financial period from the discontinued operations - 22 -37 -31 -
Net profit for the financial period 357 451 351 393 344
as a percentage of net sales % 7.4 9.0 7.4 8.5 7.3
From the consolidated statement of financial position
Non-current assets 2 116 2 215 1 884 1 935 2 000
Current assets 3 275 3 374 3 294 3 274 3 036
Assets held for sale - - 102 - -
Total equity attributable to equity holders of the parent company 2 288 2 201 1 960 1 844 1 766
Non-controlling interests 34 41 45 40 26
Interest-bearing debt 629 724 666 665 794
Non-interest-bearing liabilities 2 441 2 623 2 554 2 660 2 451
Liabilities directly attributable to assets held for sale - - 55 - -
Total equity and liabilities 5 391 5 589 5 280 5 209 5 036
From the consolidated statement of cash flows
Cash flow from operating activities 613 255 452 578 153
Cash flow from investing activities -126 -288 -71 -79 -471
Cash flow from financing activities -339 -210 -210 -324 -47
Gross capital expenditure 146 346 101 134 513
as a percentage of net sales % 3.0 6.9 2.1 2.9 10.9
Research and development expenses 131 132 139 138 188
as a percentage of net sales % 2.7 2.6 2.9 3.0 4.0
Dividends paid 256*** 237 227 207 197
Financial ratios
Earnings per share (EPS), basic and diluted EUR 1.79 2.25 1.76 1.98 1.72
Dividend per share EUR 1.30*** 1.20 1.15 1.05 1.00
Dividend per earnings % 72.8*** 53.3 65.4 53.0 58.1
Interest coverage 18.6 15.9 15.9 18.1 13.9
Return on investment (ROI) % - - 18.7 21.2 20.4
Return on investment (ROI), continuing operations % 17.1 21.0 20.3 22.6 -
Return on equity (ROE) % - - 18.0 21.4 20.1
Return on equity (ROE), continuing operations % 15.6 20.2 20.0 23.1 -
Solvency ratio % 47.6 44.6 43.5 43.9 41.3
Gearing 0.07 0.17 0.05 0.15 0.32
Equity per share EUR 11.60 11.16 9.94 9.35 8.95
Working capital (WCAP) EUR 490 543 251 313 465
* Figures related to the statement of income in the comparison period 2013 have been restated during year 2014 due to the two-stroke business being classified as discontinued operations. Figures in the comparison period 2012 have not been restated.
** Figures in the comparison period 2012 have been restated during year 2013 according to the revised IAS 19.
*** Proposal of the Board of Directors.

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