Wärtsilä's financial statements bulletin 2015

FOURTH QUARTER HIGHLIGHTS - Order intake decreased 8% to EUR 1,403 million (1,522) - Net sales increased 3% to EUR 1,590 million (1,549) - Book-to-bill 0.88 (0.98) - EBITA EUR 224 million, or 14.1% of net sales (EUR 202 million or 13.1%) - Operating result before non-recurring items EUR 215 million, or 13.5% of net sales (EUR 196 million or 12.7%) - Earnings per share 0.79 euro (0.60) - Cash flow from operating activities EUR 176 million (212) HIGHLIGHTS OF THE REVIEW PERIOD JANUARY-DECEMBER 2015 - Order intake decreased 3% to EUR 4,932 million (5,084) - Net sales increased 5% to EUR 5,029 million (4,779) - Book-to-bill 0.98 (1.06) - EBITA EUR 643 million, or 12.8% of net sales (EUR 594 million or 12.4%) - Operating result before non-recurring items EUR 612 million, or 12.2% of net sales (EUR 569 million or 11.9%) - Earnings per share 2.25 euro (1.76) - Cash flow from operating activities EUR 255 million (452) - Order book at the end of the period increased 8% to EUR 4,882 million (4,530) - Dividend proposal 1.20 euro per share Wärtsilä expects its net sales for 2016 to grow by 0-5% and its operational profitability (EBIT% before non-recurring items) to be 12.5-13.0%.

 Jaakko Eskola, President and Ceo: "A solid fourth quarter and continued growth in service volumes supported us in reaching our targets for the year 2015. Net sales grew by 5% and profitability reached 12.2%. Furthermore, the quarterly order intake in the equipment businesses improved sequentially towards year end. Given the challenging operating environment we can be pleased with our performance.” 

 Services' development was clearly the highlight of the year, with double digit growth in both orders and sales. Our success was driven by a focused sales approach and an enhanced value proposition, as well as by the increasing willingness of our customers to invest in performance optimising services. We will work actively to ensure the continued development of our offering in 2016. Another key focus area will be cash flow development, which this year was negatively affected by the timing of power plant deliveries.