WärtsiLä COrPOrAtiON ANNUAL REPORT 2011 investor information

Transcription

1 WärtsiLÄ CORPORATION ANNUAL REPORT 2011 InvesTOR information

2 WÄRTSILÄ CORPORATION 2 Investor information 03 Shares and shareholders 04 The Wärtsilä share on the Helsinki Stock Exchange 07 Shareholders 11 Wärtsilä on the capital markets 14 Analysts 15 Information for shareholders 16 Financial information Stock exchange releases 2011

3 WÄRTSILÄ CORPORATION INVESTOR INFORMATION Shares and shareholders 3 Shares and shareholders Wärtsilä Corporation's shares are listed on the NASDAQ OMX Large Cap list on the Helsinki Stock Exchange. The Annual General Meeting, held on 3 March 2011, approved the free share issue proposed by the Board of Directors. Thereby, Wärtsilä's total number of shares at the end of the financial period was 197,241,130. Key figures for Wärtsilä share Earnings per share (EPS) 3 EUR Book value of equity per share 3 EUR Dividend per share 3 EUR Dividend per earnings % Dividend yield % Series A WRT1V Price per earnings (P/E) Series A WRT1V Price to book-value (P/BV) Series A WRT1V Adjusted number of shares x end of financial year on average Proposal of the Board of Directors. 2 Series B until 26 March 2008, thereafter WRT1V. 3 The share issue approved by Wärtsilä Corporation s Annual General Meeting on 3 March 2011 increased the total number of Wärtsilä shares to 197,241,130. The figures in the comparison periods have been adjusted to reflect the increased number of shares.

4 WÄRTSILÄ CORPORATION INVESTOR INFORMATION The Wärtsilä share on the Helsinki Stock Exchange 4 The Wärtsilä share on the Helsinki Stock Exchange

5 WÄRTSILÄ CORPORATION INVESTOR INFORMATION The Wärtsilä share on the Helsinki Stock Exchange 5

6 WÄRTSILÄ CORPORATION INVESTOR INFORMATION The Wärtsilä share on the Helsinki Stock Exchange 6 The Wärtsilä share on the Nasdaq OMX Helsinki Stock Exchange Trading volume MEUR Series A WRT1V Total Number of traded 3 x Series A WRT1V Total Stock turnover % Series A WRT1V Total Average share price 3 EUR Series A WRT1V Trading low/high 3 EUR Series A 1 low high WRT1V 2 low high Share price at the year-end 3 EUR Series A WRT1V Year-end market capitalisation MEUR Series A until 26 March Series B untill 26 March 2008, thereafter WRT1V. 3 The share issue approved by Wärtsilä Corporation s Annual General Meeting on 3 March 2011 increased the total number of Wärtsilä shares to 197,241,130. The WRT1V figures in the comparison periods have been adjusted to reflect the increased number of shares.

7 WÄRTSILÄ CORPORATION INVESTOR INFORMATION Shareholders 7 Shareholders Wärtsilä has approximately 41,900 shareholders. At the end of the period, 47% of the share capital was held by foreign shareholders. At the end of 2010, the corresponding figure was 51%. Ownership structure on 31 December 2011 Group Number of shareholders % Number of shares % Private corporations Banks and insurance companies Public sector entities Non-profit organisations Households Outside Finland Nominee registered Total

8 WÄRTSILÄ CORPORATION INVESTOR INFORMATION Shareholders 8 Division of shares on 31 December 2011 Number of shares Number of shareholders % Number of shares % Nominee registered Total

9 WÄRTSILÄ CORPORATION INVESTOR INFORMATION Shareholders 9 Wärtsilä's 50 major shareholders on 31 December 2011 Owner Shares Shares % 1 Avlis Ab Varma Mutual Pension Insurance Company Ilmarinen Mutual Pension Insurance Company Svenska Litteratursällskapet i Finland The Social Insurance Institution of Finland State Pension Fund Sigrid Jusélius Foundation Jenny and Antti Wihuri Foundation The Finnish Cultural Foundation Inez och Julius Polins Fond Folkhälsan Samfundet i Svenska Finland r.f The Signe and Ane Gyllenberg foundation Livsränteanstalten Heridas Savox Investments S.A Brita Maria Renlund Foundation Folketrygdfondet OP-Delta Equity Fund Åbo Akademi Foundation Ella and Georg Ehrnrooth Foundation Rantanen Tuula Anneli Ingman Finance Oy Ab Tapiola Mutual Pension Insurance Company Folkhälsans Forskningsstiftelse Nordea Nordenfonden Mutual Insurance Company Eläke-Fennia Svenska Handelsbanken Ab (publ) filial Kuntien eläkevakuutus William Thurlings Stiftelse Blåberg Meeri Sijoitusrahasto Aktia Capital Svenska Kulturfonden i Björneborg Sijoitusrahasto Gyllenberg Finlandia Louise och Göran Ehrnrooths Stiftelse Sijoitusrahasto Nordea Suomi Schweizerische Nationalbank Fromond Elsa Nordea Henkivakuutus Suomi Oy Von Fieandt Johan Sijoitusrahasto Seligson & Co Riihimäen Konepajakoulun Säätiö

10 WÄRTSILÄ CORPORATION INVESTOR INFORMATION Shareholders Stockmann Marita Tallberg Carl Johan Relander Harald Svenska Folkskolans Vänner SR Danske Invest Suomi Yhteisöosake Veritas Pension Insurance Company Ltd Odin Finland Emil Aaltosen Säätiö Blomberg Anne-Sofie Marie Petter och Margit Forsströms Stiftelse Total Changes in ownership flagging notifications During the review period, Wärtsilä was informed of the following changes in ownership: On 5 January 2011, BlackRock, Inc. increased its holding in Wärtsilä Corporation. Following the transaction BlackRock, Inc. owned 4,941,593 shares (the number of shares before the free share issue) or 5.01% of Wärtsilä s share capital and total votes. On 9 August 2011, BlackRock, Inc. decreased its holding in Wärtsilä Corporation. Following the transaction BlackRock, Inc. owned 9,838,853 shares or 4.99% of Wärtsilä s share capital and total votes. Management holdings The members of the Board of Directors, the CEO, the CEO's deputy, and the corporations under their control own altogether 60,481 Wärtsilä Corporation shares, which represents 0.03% of the stock and of the voting rights. The Board of Directors share ownership in Wärtsilä on 31 December 2011 Authorisations granted to the Board of Directors Following the Annual General Meeting held on 3 March 2011, there are no current authorisations. The Board of Directors' dividend proposal The Board of Directors proposes that a dividend of 0.90 euro per share be distributed for the financial period that ended on 31 December 2011.

11 WÄRTSILÄ CORPORATION INVESTOR INFORMATION Wärtsilä on the capital markets 11 Wärtsilä on the capital markets 2011 Wärtsilä s shares are listed on the NASDAQ OMX Large Cap list of the Helsinki Stock Exchange under the trading code WRT1V. All shares carry equal voting and dividend rights. Investor Relations activities in 2011 Investor interest in Wärtsilä was at a good level in During the year, Wärtsilä participated in more than 260 investor meetings, as compared to approximately 200 during the previous year. The IR team, consisting of Wärtsilä s CEO, CFO, IR Director and IR Officer, conducted meetings in the Scandinavian countries, the UK, France, Germany, the Netherlands, Italy, as well as on the east coast of the US and in Canada. In addition to one-on-one meetings and conference calls, several group meetings were hosted at Wärtsilä s offices during the year, in Helsinki and Vaasa as well as in Shanghai, Mumbai, and Cape Town. The IR team also participated in several investor conferences targeting institutional investors, in Finland and abroad. During the year, Wärtsilä s foreign shareholder base decreased slightly to 47% (51). The biggest percentage of foreign shares was held by investors in the United States and the United Kingdom. Wärtsilä gave presentations at events aimed at domestic private investors during the year, both at its own premises and in other locations in Finland. Of Wärtsilä s shareholders, approximately 23% (23) consisted of retail investors during Wärtsilä s Investor Relations policy The ultimate objective of Wärtsilä s Investor Relations is to produce accurate, sufficient, and upto-date information about the development of Wärtsilä s business operations, strategy, markets and financial position. This is to ensure that the capital markets have relevant information concerning Wärtsilä in order to determine the fair value of the company s shares. To achieve this objective, Wärtsilä publishes annually three interim reports, a financial statements bulletin, an annual report, and stock exchange releases. Furthermore, Wärtsilä s management conducts regular discussions with analysts and investors, both in Finland and abroad. Our web pages serve as an archive for all current and historical data on factors affecting the value of our shares. Prospects Information on Wärtsilä s prospects is published in the Financial Statements Bulletin for the financial year and in the interim reports. The most recently published prospects statement is repeated in the Annual Report. The published prospects are approved by the Board of Directors. Should there be a change in business circumstances that could affect the prospects, Wärtsilä will publish changes to the prospects in accordance with prevailing regulations. Information on Wärtsilä s prospects is published as a result forecast consisting of the net sales and profitability (EBIT%) forecasts. Wärtsilä does not publish quarterly result forecasts.

12 WÄRTSILÄ CORPORATION INVESTOR INFORMATION Wärtsilä on the capital markets 12 Market estimates The company will review an analyst s earnings model upon his or her request or report only on factual accuracy or information that is in the public domain. Wärtsilä does not comment on or take any responsibility for estimates or forecasts published by capital market representatives. Silent period Wärtsilä observes a three-week silent period preceding the publication of its results. During this time, the company s representatives do not meet with investors or analysts or comment on the company s financial position. Disclosure policy and financial communications Wärtsilä discloses information on its goals, financial position, and business operations in an open, timely, truthful and systematic manner to enable stakeholders to form a true and fair view of the company. Wärtsilä publishes stock exchange releases, general press releases, and trade press releases. Our subsidiaries publish press releases with local relevance. Stock exchange releases give information on news that could affect the share price. Press releases provide information on business-related news or other news of general interest to our stakeholders. Releases to the trade press provide more detailed information on our products and technologies. All releases are published in Finnish, Swedish and English, except those to the trade press, which are only published in English. The stock exchange releases and the press releases are available on Wärtsilä s website immediately following publication. Contacts The relations with the company s investors and analysts are handled by IR Director Pauliina Tennilä together with the IR team. General inquiries can be sent to investor.relations@wartsila.com. Pauliina Tennilä Director, Investor Relations Tel (0) pauliina.tennila@wartsila.com Natalia Valtasaari IR Officer Tel (0) natalia.valtasaari@wartsila.com Alexandra Carlzén Investor Relations & Communications Assistant Tel (0) alexandra.carlzen@wartsila.com

13 WÄRTSILÄ CORPORATION INVESTOR INFORMATION Wärtsilä on the capital markets 13 Wärtsilä s corporate communications and media relations are the responsibility of Atte Palomäki, Group Vice President, Communications & Branding. Atte Palomäki Group Vice President, Communications & Branding Tel (0) atte.palomaki@wartsila.com

14 WÄRTSILÄ CORPORATION INVESTOR INFORMATION Analysts 14 Analysts To the best of our knowledge the following analysts, and possibly others, have on their own initiative followed Wärtsilä s development during the past 12 months. They have analysed Wärtsilä, drawn up reports and comments and are able to evaluate the company as an investment target. Wärtsilä takes no responsibility for the opinions they have expressed. Analysts ABG Sundal Collier AB Anders Idborg CA Cheuvreux Nordic Andreas Dahl Carnegie Investment Bank AB Iiris Kemppainen Danske Bank A/S Antti Suttelin Deutsche Bank AG Johan Wettergren Evli Bank plc Elina Riutta E. Öhman J:or Securities Jari Harjunpää Fearnley Fonds ASA Rikard Vabo FIM Bank Markus Liimatainen Goldman Sachs International Daniela Costa Handelsbanken Capital Markets Tom Skogman HSBC Bank Colin Gibson +44 (0) Jefferies International Ltd John Dean +44 (0) Nordea Markets Jan Kaijala Pohjola Bank Pekka Spolander SEB Enskilda Tomi Railo Swedbank Markets Erkki Vesola UBS Deutschland AG Sven Weier Ålandsbanken Equities Johan Lindh until Sept research@alandsbanken.fi

15 WÄRTSILÄ CORPORATION INVESTOR INFORMATION Information for shareholders 15 Information for shareholders Annual General Meeting The Annual General Meeting of Wärtsilä Corporation will take place on Thursday, 8 March 2012, beginning at 4 p.m., in the Congress Wing of the Helsinki Fair Center, address: Messuaukio 1, Helsinki, Finland. Right to attend Shareholders registered no later than 27 February 2012 in the company s list of shareholders maintained by Euroclear Finland Ltd have the right to attend the Annual General Meeting. Notification of attendees Shareholders wishing to attend the Annual General Meeting are required to inform the Company thereof no later than 4 p.m. on 2 March 2012 either by letter, , fax or telephone. Registration: Wärtsilä Corporation Share Register P.O. Box 196 FI Helsinki Finland Telephone: Between 9 a.m. and 12 p.m. (noon) on weekdays Fax: yk@wartsila.com Internet: Letters, s and faxes informing of participation must reach the Company before the notification period expires at 4 p.m. on 2 March Letters authorising a proxy to exercise a shareholder s voting right at the Annual General Meeting should also reach the Company before the notification period expires. Payment of dividend The Board of Directors proposes that a dividend of 0.90 euro per share be paid for the financial year The dividend will be paid to the shareholders who are registered in the list of shareholders maintained by Euroclear Finland Ltd on the record date, which is 13 March The dividend payment date proposed by the Board is 20 March Stock Exchange Releases Wärtsilä s Stock Exchange Releases are available in English, Finnish and Swedish on Wärtsilä s website.

16 WÄRTSILÄ CORPORATION INVESTOR INFORMATION Financial information Financial information 2012 Annual Report 2011 The electronic Annual Report 2011 is available in English, Finnish and Swedish and is also available on Wärtsilä s website, Interim Reports and Financial Statements Bulletin 2012 January-March on Friday, 20 April 2012 January-June on Wednesday, 18 July 2012 January-September on Wednesday, 17 October 2012 Financial Statements Bulletin January-December on Friday, 25 January 2013 Interim Reports and the Financial Statements Bulletin are available in English, Finnish and Swedish on Wärtsilä s website,

17 WÄRTSILÄ CORPORATION INVESTOR INFORMATION Stock exchange releases Annual Summary of Stock Exchange Releases 27 December 2011 Wärtsilä receives EUR 150 million power plant order from Dominican Republic 21 December 2011 Appointments within Wärtsilä s Board of Management 13 December 2011 Wärtsilä Corporation s recommended acquisition of Hamworthy plc, posting of Scheme Document 22 November 2011 Complementary financial information for Wärtsilä Corporation s recommended cash offer for Hamworthy plc 22 November 2011 Wärtsilä Corporation announces recommended cash offer for Hamworthy plc 17 November 2011 Wärtsilä s statement regarding announcement by Hamworthy plc 19 October 2011 Wärtsilä Interim Report January-September October 2011 Wärtsilä s Interim Report January-September 2011 to be published 19 October 2011 at 8.30 a.m. local time 7 September 2011 Wärtsilä wins a major EUR 155 million power plant order from the Dominican Republic 11 August 2011 Notification in accordance with the Finnish Securities Market Act Chapter 2 9: BlackRock, Inc. decreased holding in Wärtsilä Corporation 20 July 2011 Interim Report January - June July 2011 Wärtsilä s net sales for 2011 estimated to decline by 0-5% 6 July 2011 Wärtsilä s Interim Report January-June 2011 to be published 20 July 2011 at 8.30 a.m. local time 29 June 2011 Wärtsilä and Jiangsu CuiXing Marine Offshore Engineering to establish a joint venture for manufacturing medium-speed marine engines in China

18 WÄRTSILÄ CORPORATION INVESTOR INFORMATION Stock exchange releases June 2011 Wärtsilä to deliver two major dynamic grid reserve power plants to secure electricity supply in Estonia 8 June 2011 Wärtsilä wins tender for major power plant in Estonia 20 April 2011 Wärtsilä Interim Report January - March April 2011 Wärtsilä s Interim Report January-March 2011 to be published 20 April 2011 at 8.30 a.m. local time 8 March 2011 The shares issued in Wärtsilä s free share issue entered in trade register 3 March 2011 Constitutive meeting of the Board of Directors of Wärtsilä Corporation 3 March 2011 Decisions of Wärtsilä s Annual General Meeting 3 March February 2011 Wärtsilä appoints Björn Rosengren President and CEO as of 1 September February 2011 Wärtsilä Corporation s annual report 2010 published 31 January 2011 Correction to point 15 in Wärtsilä Corporation s Notice to convene the annual general meeting 28 January 2011 Notice to convene the annual general meeting of Wärtsilä Corporation 28 January 2011 Wärtsilä s President and CEO Ole Johansson to retire 28 January 2011 Wärtsilä s Financial Statement bulletin January-December January 2011 Wärtsilä redefines its financial targets 14 January 2011 Wärtsilä s Financial Statements Bulletin 2010 to be published 28 January 2011 at 8.30 a.m. local time

19 WÄRTSILÄ CORPORATION INVESTOR INFORMATION Stock exchange releases January 2011 Notification in accordance with the Finnish Securities Market Act Chapter 2 9: BlackRock, Inc. increased holding in Wärtsilä Corporation