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Balance sheet, financing and cash flow

Wärtsilä’s second quarter cash flow from operating activities amounted to EUR 2 million (202). Cash flow was negatively impacted by the increase in receivables. For January-June 2017, the operating cash flow totalled EUR 3 million (189). At the end of the review period, working capital totalled EUR 680 million (602), an increase of EUR 100 million from the end of the previous quarter. Advances received at the end of the period totalled EUR 525 million (610). At the end of the previous quarter, advances totalled EUR 554 million. Cash and cash equivalents at the end of the period amounted to EUR 332 million (357) and unutilised Committed Credit Facilities totalled EUR 640 million (629).

Wärtsilä had interest-bearing debt totalling EUR 637 million (881) at the end of June 2017. At the end of December 2016, the interest-bearing debt totalled EUR 629 million. The total amount of short-term debt maturing within the next 12 months was EUR 90 million. Long-term loans amounted to EUR 547 million. Net interest-bearing debt totalled EUR 299 million (517) and gearing was 0.14 (0.25).

Liquidity preparedness
MEUR 30.6.2017 31.12.2016
Cash and cash equivalents 332 472
Unutilised committed credit facilities 640 640
Liquidity preparedness 972 1 112
% of net sales (rolling 12 months) 20 23
Less Commercial Papers - -
Liquidity preparedness excluding Commercial Papers 972 1 112
% of net sales (rolling 12 months) 20 23
On 30 June 2017, the average maturity of the total loan portfolio was 48 months and the average maturity of the long-term debt was 49 months.

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