Market: Helsinki ISIN: FI0009800643 Industry: Construction

Company description

YIT is the largest Finnish and significant North European construction company. We develop and build apartments, business premises and entire areas. We are also specialised in demanding infrastructure construction and paving. Together with our customers our 10,000 professionals are creating more functional, more attractive and more sustainable cities and environments. We work in 11 countries: Finland, Russia, Scandinavia, the Baltic States, the Czech Republic, Slovakia and Poland. The new YIT was born when over 100-year-old YIT Corporation and Lemminkäinen Corporation merged on February 1, 2018. Our pro forma revenue for 2017 was over EUR 3.8 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy.
YIT 12/10/2018
Currency EUR
52 Weeks High 7.27
52 Weeks Low 4.76
Number of Shares (million) 211.10
Market Cap (EUR million) 1,136.77

Illustrative combined revenue splits 2017*

Operational split*
not found
Geographic split*
not found

Income statement information (IFRS)

IFRS 1-12/2017
  Pro forma YIT stand-alone Lemminkäinen stand-alone
Revenue 3,862.5 1,993.8 1,847.2
Adjusted operating profit 138.9 105.6 46.6
Adjusted operating profit % of revenue* 3.6% 5.3% 2.5%
Gearing % 59.9% 88.7% 40.0%
Order backlog 4,218.3 2,912.7 1,305.6
Average number of personnel 2017** 10,431 5,233 5,198

*Adjusted operating profit reflects the result of ordinary course of business and does not include material re-organization costs, impairment charges or other items affecting comparability
**Number of personnel varies somewhat during a year due to the seasonal nature of the businesses.

Housing figures, 2017

Units Finland* Russia CEE (incl. the Baltic countries)
Start-ups 5,036 2,525 1,545
Sales 4,564 2,899 1,613
Under construction at the end of the period 6,019 4,628 2,489
*Includes YIT's and Lemminkäinen's housing figures

Preliminary financial targets

Long-term financial target Target level
ROCE >12%
Dividend per share Growing annually
Equity ratio >40%
Cash flow Positive after dividend payout

Guidance for 2018 (IFRS)

On June 27, 2018, YIT’s Board of Directors decided to give numerical guidance for year 2018 concerning the development of both the Group pro forma revenue and adjusted pro forma operating profit. The guidance is unchanged.

The Group pro forma revenue 2018 is estimated to decrease by -2% – -6% from pro forma revenue 2017 (pro forma 2017: EUR 3,862.5 million).

In 2018, the adjusted pro forma operating profit* is estimated to be in the range of EUR 130–160 million (pro forma 2017: EUR 138.9 million).

*The adjusted operating profit reflects the result of ordinary course of business and does not include material reorganisation costs, impairment charges or other items affecting comparability. Adjusted operating profit is disclosed to improve comparability between reporting periods. Adjusting items are defined more precisely in the tables section of the Half-Year Report January–June 2018.

dividend / share (%)

Largest shareholders on August 23, 2018

% of shares
1. Tercero Ab 10.20
2. Varma Mutual Pension Insurance Company 7.55
3. PNT Group Oy 7.25
4. Conficap Invest Oy 4.21
5. Pentti Heikki Oskari Estate 3.86
6. Ilmarinen Mutual Pension Insurance Company 2.66
7. Forstén Noora Eva Johanna 2.42
8. Herlin Antti 2.23
9. Pentti Lauri Olli Samuel 1.99
10. The State Pension Fund 1.55
Nominee registered 8.57
Other shareholders 47.51
Total 100.00