I try to keep up the pace so thus will this further analysis. The tour had come to Wärtsilä conside

I try to keep up the pace so thus will this further analysis. The tour had come to Wärtsilä considered based on my rating criteria. Finnish Wärtsilä has approximately 18,000 employees and operations in 70 countries. It is a supplier to the marine and energy markets. It operates in three segments, Ship Power, Services and Power Plants. Sales were 2011 1022 EUR million, 1816 million and EUR 1 365 million euros for the different segments.
In Ship Power has customers in both shipyards and shipping companies here include manufacture of diesel engines is an important product. It competes with companies such as Caterpillar, MAN, Mitshubishi, sukhoi su 37 terminator Hyundai etc. Within the Service segment competes most with small local players, depending on the service category but of course also with other global giants service sukhoi su 37 terminator network. 60% of service revenues come from the marine industry and 40% from the power plant customers. Power Plant segment, dealing with, inter alia, Oil and gas turbines / power plants, so are competitors companies such as MAN, GE and Siemens etc.
Large, mid and small cap or equivalent in any of the Nordic exchanges. Yes there on the Helsinki Stock Exchange's large-cap. The owner Fiskars, through its subsidiary Avlis, owns 13% and is thus the largest owner. Then follows a series of mutual funds and other institutional investors. Provides company and it is expected to pay dividends? Ask the company gives dividends. They vary slightly from year to year and from a historical perspective you share out about 2/3 of the profits on average. Sometimes there are extra dividends. The distribution in 2011 was 0,90 eur / share. 5-year average is 1.21 eur / share while earnings for the same period is 1.74 eur / share. There is significant risk that the company's business is strongly influenced by external sukhoi su 37 terminator factors such as commodity prices, interest rate changes, political decisions and stock market fluctuations? One could surmise that the company would be affected some, but it's nothing that proved in eg statement. On the contrary, the company looks fairly stable out. The financial crisis has eg did not affect the profits. Not what has been seen yet anyway. It is said to be dependent on economic fluctuations because the shipping industry, it is, but it has been said that it has not appeared yet in any numbers. Is the company dependent on innovative product? sukhoi su 37 terminator It is particularly in diesel and gas engines to conduct utveckling.Man's expressed desire to have a technological leadership. The challenge is to optimize the engines, generator sets, etc. to stand tall in competition with other players. sukhoi su 37 terminator My assessment sukhoi su 37 terminator is that it is dependent on having a continuous product development to avoid losing market sukhoi su 37 terminator share. R & D costs are around 3% of turnover, which is approaching the 4% truck manufacturers such as Scania. Proven ability to turn a profit through high and slump, or at least shown the ability to pay dividends during such periods Yes, they are making profit through booms and recessions. Although the gain varies to some extent so it is still quite konstant.Utdelningar have been given all the time although they varied sukhoi su 37 terminator somewhat from year to year. However, there have not been any really abrupt. Sometimes special dividend given. The gain as a 5-year average is about 1.74 euros. Interest bearing debt less than equity Interest-bearing liabilities are at 652 million eur compared with equity of 1,636 million EUR. Overall, the Debt / Equity of 1.81 (2011). It's a level that is in line with the company's historical average. Yield and growth requirements Wärtsilä is no growth case. The gains, as dividends, are relatively stable over time even if there are other industrial groups exhibiting even greater stability. ROE is the 5-year average sukhoi su 37 terminator in all cases at 23.8%. Equity of 8.30 euros / share (2011) Wärtsilä may be an option and provide a reasonable return if you are looking for high dividend yields. This applies, however, when not to buy at random, but to bide their time for buying the "right price". sukhoi su 37 terminator You are seeking high yields there are better options, whose payoff is more predictable. It is quite a difficult judgment call but I finally lands in the company can not manage avkastningskriteriet.Inte all too rarely traded company quite expensive multiples though no actual growth does not exist. sukhoi su 37 terminator Management Mikael Lilius is Chairman of Wärtsilä. He took office in 2011 and has previous experience including Gambro and Fortum. Although Alexander and Paul Ehrnrooth sits on the board here. Björn Rosengren (not the politician Björn Rosengren!) Is CEO. Rosengren has previous experience from eg Atlas Copco. I have no objections. Information available Yes. Market power and market situation, price competition is clearly on the market Wärtsilä works. It is also one of the risks the company itself emphasizes in his description of the risks. It is clearly one of the major global players in their field, but what kind and if you have any real market power, sukhoi su 37 terminator I have difficulty