Associated company: Wärtsilä

Wärtsilä Corporation represents part of Fiskars' portfolio as an associated company. Fiskars is the company's largest single shareholder with 15.1% of Wärtsilä's shares and votes.

Wärtsilä forms one of Fiskars' reported operating segments and is treated as an associated company, as Fiskars considers that it has a significant holding in the company under the provisions of IAS 28. Wärtsilä's performance has a major impact on Fiskars' result and cash flow from operating activities. The share of profit is reported as a separate item below the consolidated operating profit of Fiskars.

• Fiskars' share of profit in 2011 42.7 million euros
• Fiskars' share of Wärtsilä shares 15,1%
• Market value of Fiskars' holding in Wärtsilä at the end of 2011 663,9 million euros
• Fiskars' Wärtsilädividend in 2011 40,9 million euros

Wärtsilä Corporation is a global supplier of marine and energy systems, solutions, and services, and is listed on the NASDAQ OMX Helsinki (WRT1V).

• net sales in 2011 4,209 million euros (2010: 4,533)
• operating profit 445 million euros (412)
• earnings per share 1.44 euros (3.91)
• employees 17,913 (17,258)