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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

q3 2016

Operating result and profitability

The operating result for the review period January-March 2016 was EUR 83 million (100), or 8.6% of net sales (10.1). The decrease compared to the same period in 2015 related primarily to the reduction in power plant deliveries, as well as increased price pressure in the power generation markets. The comparable operating result was EUR 84 million (100), or 8.7% of net sales (10.1). Items affecting comparability in the first quarter of 2016 included costs of EUR 1 million related to the ongoing restructuring measures in the Marine Solutions business. The comparable adjusted EBITA was EUR 93 million (106), or 9.6% of net sales (10.7). Purchase price allocation amortisation amounted to EUR 9 million (6).

Financial items amounted to EUR -3 million (-18). Net interest totalled EUR -3 million (-4). Profit before taxes amounted to EUR 80 million (82). Taxes amounted to EUR 20 million (18), implying an effective tax rate of 24.9% (21.9). Earnings per share were 0.30 euro (0.43) and the equity per share was 10.18 euro (9.43). Return on investments (ROI) was 20.5% (22.0). Return on equity (ROE) was 21.5% (21.0).

Measures of profit and items affecting comparability
MEUR 1-3/2016 1-3/2015 2015
Comparable adjusted EBITA 93 106 643
Purchase price allocation amortisation -9 -6 -32
Comparable operating result 84 100 612
Restructuring costs -1 -25
Operating result 83 100 587

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