Five years in figures | |||||||
Wärtsilä provides certain financial performance measures, which are accounting measures that are not defined by IFRS. These alternative performance measures, such as comparable operating result, comparable adjusted EBITA, cash flow from operating activities, and gearing, are followed and used by management to measure the Group's performance and financial position. In addition, Wärtsilä's targets of financial performance are linked to for example comparable operating result and gearing. Thus, these alternative performance measures provide useful information to the capital markets. The alternative performance measures should not be evaluated in isolation from the IFRS measures. The alternative performance measure calculation definitions are disclosed in section Calculations of financial ratios. |
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Restated | |||||||
MEUR | 2019 | 2018 | 2017* | 2016 | 2015 | ||
Net sales | 5 170 | 5 174 | 4 911 | 4 801 | 5 029 | ||
of which outside Finland | % | 98.5 | 98.9 | 97.7 | 97.5 | 97.8 | |
Exports from Finland | 1 933 | 2 145 | 1 953 | 1 804 | 1 936 | ||
Personnel on average | 19 110 | 18 899 | 17 866 | 18 332 | 18 565 | ||
of which in Finland | 3 868 | 3 766 | 3 521 | 3 482 | 3 580 | ||
Order book | 5 878 | 6 166 | 5 100 | 4 696 | 4 882 | ||
From the consolidated statement of income | |||||||
Depreciation, amortisation and impairment | 180 | 130 | 134 | 138 | 124 | ||
Share of result of associates and joint ventures | -9 | 13 | 13 | 14 | 17 | ||
Comparable operating result | 457 | 577 | 576 | 583 | 612 | ||
as a percentage of net sales | % | 8.8 | 11.2 | 11.7 | 12.1 | 12.2 | |
Operating result | 362 | 543 | 538 | 532 | 587 | ||
as a percentage of net sales | % | 7.0 | 10.5 | 11.0 | 11.1 | 11.7 | |
Comparable adjusted EBITA | 498 | 621 | 612 | 618 | 643 | ||
as a percentage of net sales | % | 9.6 | 12.0 | 12.5 | 12.9 | 12.8 | |
Financial income and expenses | -47 | -40 | -47 | -53 | -34 | ||
Profit before taxes | 315 | 502 | 491 | 479 | 553 | ||
as a percentage of net sales | % | 6.1 | 9.7 | 10.0 | 10.0 | 11.0 | |
Profit for the financial period from the continuing operations | 218 | 386 | 375 | 357 | 429 | ||
Profit for the financial period from the discontinued operations | - | - | - | - | 22 | ||
Net profit for the financial period | 218 | 386 | 375 | 357 | 451 | ||
as a percentage of net sales | % | 4.2 | 7.5 | 7.6 | 7.4 | 9.0 | |
From the consolidated statement of financial position | |||||||
Non-current assets | 2 518 | 2 369 | 2 285 | 2 116 | 2 215 | ||
Current assets | 3 797 | 3 690 | 3 363 | 3 275 | 3 374 | ||
Assets held for sale | 82 | - | - | - | - | ||
Total equity attributable to equity holders of the parent company | 2 396 | 2 418 | 2 352 | 2 288 | 2 201 | ||
Non-controlling interests | 14 | 14 | 24 | 34 | 41 | ||
Interest-bearing debt | 1 096 | 823 | 619 | 629 | 724 | ||
Non-interest-bearing liabilities | 2 824 | 2 804 | 2 653 | 2 441 | 2 623 | ||
Liabilities directly attributable to assets held for sale | 68 | - | - | - | - | ||
Total equity and liabilities | 6 398 | 6 059 | 5 648 | 5 391 | 5 589 | ||
From the consolidated statement of cash flows | |||||||
Cash flow from operating activities | 232 | 470 | 430 | 613 | 255 | ||
Cash flow from investing activities | -95 | -240 | -235 | -126 | -288 | ||
Cash flow from financing activities | -256 | -118 | -278 | -339 | -210 | ||
Gross capital expenditure | 122 | 306 | 255 | 146 | 346 | ||
as a percentage of net sales | % | 2.4 | 5.9 | 5.2 | 3.0 | 6.9 | |
Research and development expenditure | 164 | 165 | 141 | 131 | 132 | ||
as a percentage of net sales | % | 3.2 | 3.2 | 2.9 | 2.7 | 2.6 | |
Dividends paid | 284** | 284 | 272 | 256 | 237 | ||
Financial ratios | |||||||
Earnings per share (EPS), basic and diluted*** | EUR | 0.37 | 0.65 | 0.63 | 0.60 | 0.75 | |
Dividend per share*** | EUR | 0.48** | 0.48 | 0.46 | 0.43 | 0.40 | |
Dividend per earnings | % | 130.8** | 73.7 | 70.8 | 72.8 | 53.3 | |
Interest coverage | 7.7 | 10.8 | 11.8 | 18.6 | 15.9 | ||
Return on investment (ROI) | % | 11.5 | 18.1 | 18.5 | 17.1 | 21.0 | |
Return on equity (ROE) | % | 9.0 | 16.1 | 16.0 | 15.6 | 20.2 | |
Solvency ratio | % | 40.8 | 44.4 | 46.3 | 47.6 | 44.6 | |
Gearing**** | 0.30 | 0.14 | 0.10 | 0.07 | 0.17 | ||
Equity per share*** | EUR | 4.05 | 4.09 | 3.97 | 3.87 | 3.72 | |
Working capital (WCAP) | EUR | 732 | 581 | 563 | 490 | 543 | |
* Figures in the comparison period 2017 have been restated due to the adoption of IFRS 15. | |||||||
** Proposal of the Board of Directors. | |||||||
*** Share issue without payment (share split) approved by Wärtsilä Corporation’s Annual General Meeting on 8 March 2018 increased the total number of Wärtsilä shares to 591,723,390. Figures in the comparison periods have been restated accordingly. | |||||||
**** Includes the cash and cash equivalents pertaining to assets held for sale. |
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