Key credit figures
| |
2019 |
2018 |
2017*
|
2016 |
2015 |
2014 |
2013 |
2012 |
2011 |
2010 |
2009 |
| Return on equity (ROE), % |
9.0 |
16.1 |
16.0 |
15.6 |
20.2 |
18.0 |
21.4 |
20.1 |
17.5 |
25.0 |
29.2 |
| Net interest-bearing loan capital |
726 |
333 |
234
|
150 |
372 |
94 |
276 |
567 |
58 |
-165 |
414 |
| Gearing |
0.30** |
0.14 |
0.10 |
0.07 |
0.17 |
0.05 |
0.15 |
0.32 |
0.04 |
-0.09 |
0.28 |
| Solvency, % |
40.8 |
44.4 |
46.3 |
47.6 |
44.6 |
43.5 |
43.9 |
41.3 |
41.3 |
40.8 |
40.0 |
* Figures for 2017 have been restated due to the adoption of IFRS 15.
**Includes cash and cash equivalents pertaining to assets held for sale.
Credit programmes
The information below is from the Stock Exchange Release published on 30 January 2020.
Wärtsilä had interest-bearing debt totalling EUR 1,096 million (823) at the end of December. The increase in interestbearing debt is largely related to the inclusion of lease liabilities amounting to EUR 188 million on the balance sheet, as a result of the new IFRS 16 standard. The total amount of short-term debt maturing within the next 12 monthswas EUR 99 million. Long-term loans amounted to EUR 997 million. Net interest-bearing debt totalled EUR 726 million (333), due to weak cash flow and the implementation of IFRS 16. Gearing was 0.30 (0.14) and the solvency ratio was 40.8% (44.4). Excluding the impact of lease liabilities, gearing amounted to 0.22.
Ratings
Wärtsilä has not issued bonds to the market and thus has never had a company rating available or analyst coverage for debt instruments.