Key credit figures
| |
2018 |
2017*
|
2016 |
2015 |
2014 |
2013 |
2012 |
2011 |
2010 |
2009 |
2008 |
| Return on equity (ROE), % |
16.1 |
16.0 |
15.6 |
20.2 |
18.0 |
21.4 |
20.1 |
17.5 |
25.0 |
29.2 |
30.8 |
| Net interest-bearing loan capital |
333 |
234
|
150 |
372 |
94 |
276 |
567 |
58 |
-165 |
414 |
455 |
| Gearing |
0.14 |
0.10 |
0.07 |
0.17 |
0.05 |
0.15 |
0.32 |
0.04 |
-0.09 |
0.28 |
0.39 |
| Solvency, % |
44.4 |
46.3 |
47.6 |
44.6 |
43.5 |
43.9 |
41.3 |
41.3 |
40.8 |
40.0 |
34.3 |
* Figures for 2017 have been restated due to the adoption of IFRS 15.
Credit programmes
The information below is from the Stock Exchange Release published on 18 July 2019.
Wärtsilä had interest-bearing debt totalling EUR 1,132 million (893) at the end of June 2019. At the end of December 2018, the interest-bearing debt totalled EUR 823 million. The increase in 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. Lease liabilities amounted to EUR 207 million at the end of June. The total amount of short-term debt maturing within the next 12 months was EUR 98 million. Long-term loans amounted to EUR 1,034 million. Net interest-bearing debt totalled EUR 746 million (642). Gearing was 0.33 (0.29) and the solvency ratio was 40.5% (41.7).
Ratings
Wärtsilä has not issued bonds to the market and thus has never had a company rating available or analyst coverage for debt instruments.