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Interim Report
Half Year Financial Report
2019
Interim Report
2019
Financial Statements Bulletin
2019
Annual Report
(11.2.2020)Interim Report
2018
Half Year Financial Report
2018
Interim Report
2018
Financial Statements Bulletin
2018
Annual Report
(12.2.2019)Five years in figures | |||||||
Restated | |||||||
MEUR | 2017 | 2016 | 2015 | 2014 | 2013* | ||
Net sales | 4 923 | 4 801 | 5 029 | 4 779 | 4 607 | ||
of which outside Finland | % | 97.7 | 97.5 | 97.8 | 98.9 | 99.0 | |
Exports from Finland | 1 954 | 1 804 | 1 936 | 2 280 | 2 306 | ||
Personnel on average | 17 866 | 18 332 | 18 565 | 18 042 | 18 339 | ||
of which in Finland | 3 521 | 3 482 | 3 580 | 3 582 | 3 662 | ||
Order book | 5 064 | 4 696 | 4 882 | 4 530 | 4 311 | ||
From the consolidated statement of income | |||||||
Depreciation, amortisation and impairment | 134 | 138 | 124 | 115 | 120 | ||
Share of result of associates and joint ventures | 13 | 14 | 17 | 26 | 28 | ||
Comparable operating result | 590 | 583 | 612 | 569 | 557 | ||
as a percentage of net sales | % | 12.0 | 12.1 | 12.2 | 11.9 | 12.1 | |
Operating result | 552 | 532 | 587 | 522 | 537 | ||
as a percentage of net sales | % | 11.2 | 11.1 | 11.7 | 10.9 | 11.7 | |
Comparable adjusted EBITA | 626 | 618 | 643 | 594 | 589 | ||
as a percentage of net sales | % | 12.7 | 12.9 | 12.8 | 12.4 | 12.8 | |
Financial income and expenses | -47 | -53 | -34 | -28 | -19 | ||
Net income from other investments | - | - | - | - | 25 | ||
Profit before taxes | 506 | 479 | 553 | 494 | 544 | ||
as a percentage of net sales | % | 10.3 | 10.0 | 11.0 | 10.3 | 11.8 | |
Profit for the financial period from the continuing operations | 383 | 357 | 429 | 389 | 425 | ||
Profit/loss for the financial period from the discontinued operations | - | - | 22 | -37 | -31 | ||
Net profit for the financial period | 383 | 357 | 451 | 351 | 393 | ||
as a percentage of net sales | % | 7.8 | 7.4 | 9.0 | 7.4 | 8.5 | |
From the consolidated statement of financial position | |||||||
Non-current assets | 2 277 | 2 116 | 2 215 | 1 884 | 1 935 | ||
Current assets | 3 331 | 3 275 | 3 374 | 3 294 | 3 274 | ||
Assets held for sale | - | - | - | 102 | - | ||
Total equity attributable to equity holders of the parent company | 2 371 | 2 288 | 2 201 | 1 960 | 1 844 | ||
Non-controlling interests | 24 | 34 | 41 | 45 | 40 | ||
Interest-bearing debt | 619 | 629 | 724 | 666 | 665 | ||
Non-interest-bearing liabilities | 2 593 | 2 441 | 2 623 | 2 554 | 2 660 | ||
Liabilities directly attributable to assets held for sale | - | - | - | 55 | - | ||
Total equity and liabilities | 5 607 | 5 391 | 5 589 | 5 280 | 5 209 | ||
From the consolidated statement of cash flows | |||||||
Cash flow from operating activities | 430 | 613 | 255 | 452 | 578 | ||
Cash flow from investing activities | -235 | -126 | -288 | -71 | -79 | ||
Cash flow from financing activities | -278 | -339 | -210 | -210 | -324 | ||
Gross capital expenditure | 255 | 146 | 346 | 101 | 134 | ||
as a percentage of net sales | % | 5.2 | 3.0 | 6.9 | 2.1 | 2.9 | |
Research and development expenditure | 141 | 131 | 132 | 139 | 138 | ||
as a percentage of net sales | % | 2.9 | 2.7 | 2.6 | 2.9 | 3.0 | |
Dividends paid | 272** | 256 | 237 | 227 | 207 | ||
Financial ratios | |||||||
Earnings per share (EPS), basic and diluted | EUR | 1.95 | 1.79 | 2.25 | 1.76 | 1.98 | |
Dividend per share | EUR | 1.38** | 1.30 | 1.20 | 1.15 | 1.05 | |
Dividend per earnings | % | 70.8** | 72.8 | 53.3 | 65.4 | 53.0 | |
Interest coverage | 11.8 | 18.6 | 15.9 | 15.9 | 18.1 | ||
Return on investment (ROI) | % | - | - | - | 18.7 | 21.2 | |
Return on investment (ROI), continuing operations | % | 18.9 | 17.1 | 21.0 | 20.3 | 22.6 | |
Return on equity (ROE) | % | - | - | - | 18.0 | 21.4 | |
Return on equity (ROE), continuing operations | % | 16.3 | 15.6 | 20.2 | 20.0 | 23.1 | |
Solvency ratio | % | 47.1 | 47.6 | 44.6 | 43.5 | 43.9 | |
Gearing | 0.10 | 0.07 | 0.17 | 0.05 | 0.15 | ||
Equity per share | EUR | 12.02 | 11.60 | 11.16 | 9.94 | 9.35 | |
Working capital (WCAP) | EUR | 591 | 490 | 543 | 251 | 313 | |
* 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. | |||||||
** Proposal of the Board of Directors. |