Note
| Key figures | |||||||
| MEUR | 7-9/2019 | 7-9/2018 | Change | 1-9/2019 | 1-9/2018 | Change | 2018 |
| Order intake | 979 | 1 372 | -29% | 3 772 | 4 433 | -15% | 6 307 |
| of which services | 679 | 640 | 6% | 1 954 | 1 898 | 3% | 2 598 |
| Order book, end of period | 6 294 | 5 918 | 6% | 6 166 | |||
| Net sales | 1 118 | 1 330 | -16% | 3 486 | 3 642 | -4% | 5 174 |
| of which services | 578 | 571 | 1% | 1 762 | 1 688 | 4% | 2 419 |
| Book-to-bill | 0.88 | 1.03 | 1.08 | 1.22 | 1.22 | ||
| Operating result | 11 | 141 | -92% | 198 | 337 | -41% | 543 |
| % of net sales | 1.0 | 10.6 | 5.7 | 9.2 | 10.5 | ||
| Comparable operating result1 | 39 | 141 | -72% | 254 | 352 | -28% | 577 |
| % of net sales | 3.5 | 10.6 | 7.3 | 9.7 | 11.2 | ||
| Comparable adjusted EBITA2 | 49 | 152 | -68% | 285 | 384 | -26% | 621 |
| % of net sales | 4.4 | 11.5 | 8.2 | 10.5 | 12.0 | ||
| Profit before taxes | -0 | 130 | -100% | 162 | 308 | -48% | 502 |
| Earnings/share, EUR | -0.01 | 0.17 | 0.20 | 0.39 | 0.65 | ||
| Cash flow from operating activities | -61 | 122 | -63 | 121 | 470 | ||
| Net interest-bearing debt, end of period3 | 987 | 647 | 333 | ||||
| Gross capital expenditure | 79 | 258 | 306 | ||||
| Gearing | 0.44 | 0.28 | 0.14 | ||||
| Solvency, % | 39.4 | 43.7 | 44.4 | ||||
| Personnel, end of period | 19 018 | 19 420 | -2% | 19 294 | |||
| 1Items affecting comparability in the third quarter of 2019 included costs related primarily to restructuring programmes of EUR 28 million (0). During January-September, items affecting comparability amounted to EUR 56 million (15). | |||||||
| 2Comparable adjusted EBITA excludes items affecting comparability and purchase price allocation amortisation. | |||||||
| 3The increase in net interest-bearing debt is largely related to the inclusion of lease liabilities on 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. 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, at the end of this interim report.