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Wärtsilä Corporation FINANCIAL STATEMENTS BULLETIN 27 January 2016 at 8.30
local time



This release is a summary of Wärtsilä's financial statements bulletin 2015.
The complete report is attached to this release as a pdf-file. It is also
available athttp://www.wartsilareports.com/en-US/2015/q4/frontpage/and on the
company website atwww.wartsila.com.


- 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)


- 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
- 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%.


"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.

Looking into 2016, we expect the market situation to remain similar to that
seen during the previous year. The favourable development of service activity
is expected to continue, while conditions in energy markets will remain
challenging and the demand for new vessels limited due to overcapacity and
low oil prices. Despite our cautious market outlook, we remain well
positioned to benefit from the trends of increasing demand for efficiency and
changing energy needs. Digitalisation will increasingly drive our business,
as we utilise data analytics to further optimise our customers' operations,
and our own internal processes and performance. Based on our solid order book
and project pipeline, a growing Services business and our focus on continuous
improvement, we expect to see some growth in sales and operating margins in
the coming year."


| MEUR 10-12/2015 10-12/2014 Change 1-12/2015 1-12/2014 Change |
| Order intake 1 403 1 522 -8% 4 932 5 084 -3% |
| Order book at the end of the period 4 882 4 530 8% |
| Net sales 1 590 1 549 3% 5 029 4 779 5% |
| Operating result (EBITA)1 224 202 11% 643 594 8% |
| % of net sales 14.1 13.1 12.8 12.4 |
| Operating result (EBIT)2 215 196 10% 612 569 8% |
| % of net sales 13.5 12.7 12.2 11.9 |
| Profit before taxes 199 157 553 494 |
| Earnings/share, EUR 0.79 0.60 2.25 1.76 |
| Cash flow from operating activities 176 212 255 452 |
| Net interest-bearing debt at the end of the period 372 94 |
| Gross capital expenditure 346 94 |
| Gearing 0.17 0.05 |
| 1EBITA is shown excluding non-recurring items and purchase price allocation |
|amortisation. Wärtsilä recognised non-recurring items amounting to EUR 13 |
|million (30) in the fourth quarter, of which EUR 11 million related to the |
|restructuring programme announced in July and EUR 3 million to acquisitions |
|and other costs. Purchase price allocation amortisation amounted to EUR 9 |
|million (6). During the review period January-December 2015, non-recurring |
|items amounted to EUR 25 million (47), of which EUR 19 million related to the |
|restructuring programme and EUR 6 million to acquisitions and other costs. |
|Purchase price allocation amortisation amounted to EUR 32 million (26). |
| 2EBIT is shown excluding non-recurring items. |

The market for liquid and gas fuelled power generation is expected to remain
challenging as economic uncertainty continues. Despite slower economic growth
in the emerging markets, growth in electricity demand and the availability of
international funding for infrastructure projects will continue to support
power plant investments. In the OECD countries, low economic growth continues
to limit demand for new power plants, and in Europe the unfinished new
electricity market design is delaying investments. Low gas prices and
positive developments in electricity market designs are driving the demand in
North America. The megatrend towards distributed, flexible, gas-fired power
generation continues to gain ground globally. The increasing deployment of
intermittent renewable power, such as wind and solar, requires investments in
flexible solutions to balance the power systems. Electricity markets are
being developed to reward the necessary flexibility, thereby enabling new
profitable investments. Wärtsilä's systematic market development work in
these markets will continue to bring forward the benefits of Smart Power

The outlook for the shipping and shipbuilding markets remains challenging,
with oversupply limiting demand for newbuild vessels and low oil prices
continuing to impact investments in offshore exploration and development. Gas
carrier contracting is expected to remain at a normalised level due to the
continued demand for LPG in Asia. The outlook for the cruise and ferry
segment remains positive thanks to economic recovery in Europe and the United
States, as well as increased interest for cruises in Asia. The importance of
fuel efficiency and environmental regulations are clearly visible. Increased
environmental awareness and the regulatory environment is driving interest in
gas as a marine fuel in the broader marine markets.

The service market outlook is positive with growth opportunities in selected
regions and segments. An increase in the installed base of medium-speed
engines and propulsion equipment, as well as the shift to gas based
technology, offsets the slower service demand for older installations and
uncertainty regarding short-term demand development in the merchant marine
segment. The favourable impact of low oil prices on operating costs is
expected to continue to support the demand for service work on installations
operating on oil based fuels. In the offshore segment, the growth in the
installed base during recent years is expected to partially compensate for
the challenging outlook in certain regions. The service outlook for gas
fuelled vessels remains favourable. Service demand in the power plant segment
continues to be good with an especially positive outlook in the Middle East
and Africa. Customers in both the marine and power plant markets continue to
show healthy interest in long-term service agreements.


The Board of Directors proposes that a dividend of 1.20 euro per share be paid
for the financial year 2015. The parent company's distributable funds total
1,052,581,243.14 euro, which includes 276,747,007.02 euro in net profit for
the year. There are 197,241,130 shares with dividend rights. The dividend
will be paid to shareholders who are registered in the list of shareholders
maintained by Euroclear Finland Ltd on the record date, which is 7 March
2016. The dividend payment date proposed by the Board is 14 March 2016. The
Annual Report 2015, including the financial review and the review by the
Board of Directors, will be available on the company website www.wartsila.com
and atwww.wartsilareports.comduring week 6.


An analyst and press conference will be held today, Wednesday 27 January 2016,
at 10.00 a.m. Finnish time (8.00 a.m. UK time), at the Wärtsilä headquarters
in Helsinki, Finland. The combined web- and teleconference will be held in
English and can be viewed at the following

To participate in the teleconference please register at the following
address:http://emea.directeventreg.com/registration/15439126. You will
receive dial-in details by e-mail once you have registered. If problems
occur, please press *0 for operator assistance. Please use *6 to mute your
phone during the teleconference and the same code to unmute.

An on-demand version ...

Författare WKR

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