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Balance sheet, financing and cash flow

For January-December 2010 the cash flow from operating activities was at an all time high level, 663 million (349). Net working capital at the end of the period totalled EUR 170 million (482). Advances received at the end of the period totalled EUR 616 million (879). Liquid reserves at the end of the period amounted to EUR 776 million (244).

Wärtsilä had interest bearing loans totalling EUR 628 million at the end of December 2010. The existing funding programmes include long-term loans of EUR 572 million, unutilised Committed Revolving Credit Facilities totalling EUR 560 million, and Finnish Commercial Paper programmes totalling EUR 700 million. The total amount of short-term debt maturing within the next 12 months is EUR 56 million.

The solvency ratio was 40.8% (40.0) and gearing was -0.09 (0.28).

 
Interest-bearing loan capital    
MEUR 2010 2009
Long-term liabilities 572 591
Current liabilities 56 73
Loan receivables -17 -6
Cash and bank balances -776 -244
Net -165 414