Balance sheet, financing and cash flow

Wärtsilä’s third quarter cash flow from operating activities amounted to EUR 150 million (189). Cash flow was negatively impacted by the increase in receivables. For January-September 2017, the operating cash flow totalled EUR 154 million (378). At the end of the review period, working capital totalled EUR 658 million (540), a decrease of EUR 22 million from the end of the previous quarter. Advances received at the end of the period totalled EUR 495 million (626). At the end of the previous quarter, advances totalled EUR 525 million. Cash and cash equivalents at the end of the period amounted to EUR 292 million (345) and unutilised Committed Credit Facilities totalled EUR 640 million (629).

Wärtsilä had interest-bearing debt totalling EUR 729 million (735) at the end of September 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 199 million. Long-term loans amounted to EUR 530 million. Net interest-bearing debt totalled EUR 432 million (384) and gearing was 0.20 (0.18).

Liquidity preparedness
MEUR 30.9.2017 31.12.2016
Cash and cash equivalents 292 472
Unutilised committed credit facilities 640 640
Liquidity preparedness 932 1 112
% of net sales (rolling 12 months) 19 23
Less Commercial Papers 105 -
Liquidity preparedness excluding Commercial Papers 827 1 112
% of net sales (rolling 12 months) 16 23
On 30 September 2017, the average maturity of the total loan portfolio was 40 months and the average maturity of the long-term debt was 47 months.


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