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Key figures
MEUR 1-3/2019 Restated
1-3/2018
Change Restated
2018
Order intake 1 416 1 507 -6% 6 307
of which services 653 665 -2% 2 598
Order book, end of period 6 330 5 490 15% 6 166
Net sales 1 151 1 066 8% 5 174
of which services 573 535 7% 2 419
Book-to-bill 1.23 1.41 1.22
Operating result¹ 91 85 8% 543
% of net sales 7.9 8.0 10.5
Comparable operating result 102 88 16% 577
% of net sales 8.9 8.3 11.2
Comparable adjusted EBITA 113 98 15% 621
% of net sales 9.8 9.2 12.0
Profit before taxes 78 76 3% 502
Earnings/share, EUR 0.10 0.10 0.65
Cash flow from operating activities 35 -42 470
Net interest-bearing debt, end of period2 658 438 333
Gross capital expenditure 23 37 306
Gearing 0.29 0.21 0.14
Solvency, % 39.6 42.9 44.4
Personnel, end of period 19 225 18 182 6% 19 294
¹Items affecting comparability in the first quarter of 2019 included costs related to restructuring programmes of EUR 11 million (3).
²The increase in net interest-bearing debt is largely related to the inclusion of lease liabilities on the balance sheet, as a result of the new IFRS 16 standard.

As of the first quarter of 2019, Wärtsilä’s financial reporting has been amended to reflect its new organisational structure. The two business areas, Wärtsilä Marine Business and Wärtsilä Energy Business, constitute the reportable segments. Financial reporting for 2018 has been adjusted to reflect this change. Wärtsilä will additionally report the services related order intake and net sales for the two segments. In Wärtsilä Marine Business, order intake and net sales for retrofit scrubber projects have been transferred from services to new equipment. The comparison figures have been adjusted accordingly.

Wärtsilä presents certain alternative performance measures in accordance with the guidance issued by the European Securities and Markets Authority (ESMA). The definition of these alternative performance measures is presented in the calculations of financial ratios.

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