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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

q3 2016

Balance sheet, financing and cash flow

Wärtsilä’s cash flow from operating activities amounted to EUR -13 million (37) during the review period January-March 2016. Working capital totalled EUR 709 million (296) at the end of the review period, increasing by EUR 166 million from the end of December mainly due to inventory build-up. Advances received at the end of the period totalled EUR 618 million (743). At the end of December 2015, advances received totalled EUR 564 million. Cash and cash equivalents at the end of the period amounted to EUR 428 million (382) and unutilised committed credit facilities totalled EUR 519 million (629). A dividend of EUR 1.20 per share (1.15) corresponding to a total of EUR 237 million (227) was paid during the first quarter.

Wärtsilä had interest-bearing debt totalling EUR 1,088 million at the end of March 2016. At the end of December 2015, interest bearing debt totalled EUR 724 million. The total amount of short-term debt maturing within the next 12 months was EUR 503 million. Long-term loans amounted to EUR 585 million. Net interest-bearing debt totalled EUR 639 million (251) and gearing was 0.32 (0.14).

Liquidity preparedness
MEUR 31.3.2016 31.12.2015
Cash and cash equivalents 428 334
Unutilised committed credit facilities 519 679
Liquidity preparedness 947 1 013
% of net sales (rolling 12 months) 19 20
Less Commercial Papers 363 130
Liquidity preparedness excluding Commercial Papers 584 883
% of net sales (rolling 12 months) 12 18
On 31 March 2016, the average maturity of the total loan portfolio was 29 months and the average maturity of the long-term debt was 45 months.

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