YIT's Interim Report, January 1 – September 30, 2009: Profitability improved in the third quarter – the increase in operating profit is estimated to continue

YIT CORPORATION            INTERIM REPORT          OCTOBER 28, 2009 at 8:00 a.m.

Important in July-September:
- YIT Group's revenue for July-September was 4 per cent lower than for April-June.
- Operating profit was 20 per cent higher and profit before taxes 19 per cent higher than in April-June.
- Profitability improved and the operating profit margin was 5.6 per cent (4-6/09: 4.5%).
- Operating cash flow after investments remained good and amounted to EUR 29.5 million (4-6/09: EUR 27.8 million).
- Demand for service and maintenance services developed steadily, accounting for 35 per cent of the Group revenue.
- In Finland, residential sales remained stable and YIT sold 380 residential units directly to consumers during the quarter. The construction of 537 residential units aimed directly at consumers was started up in the form of development projects during the quarter.
- In Russia, residential sales strengthened and YIT sold 829 residential units during the quarter. The first new residential site in Russia since the summer 2008 was started up.
- YIT Corporation estimates that in 2009 the Group revenue will decrease clearly compared to 2008, but profit before taxes will be clearly positive. It is estimated that the operating profit will improve in the last quarter of 2009. (Outlook for the last quarter of 2009 has been specified.)

Juhani Pitkäkoski, President and CEO:

The Group's profitability and operating profit have improved during each quarter of this year. We estimate that the operating profit will improve also in the last quarter of 2009.

We have managed to keep the profitability of business operations in Building and Industrial Services stable. The business segment has steadily posted about EUR 28 million in operating profit every quarter, but a ruling by the court of arbitration in the third quarter decreased operating profit by EUR 3.2 million. The share of service and maintenance services increased during the third quarter, representing 55 per cent of the business segment's revenue. Our target is to increase our service and maintenance services.

The profitability of Construction Services Finland has remained good and its operating profit margin for January-September was 8.3 per cent. The order backlog continued to grow in the third quarter. On the whole, the segment's business has developed steadily. Residential sales picked up in the spring and remained stable in July-September. We increased the number of residential development start-ups in the third quarter. Construction of business premises has been at a lower level than last year. Infrastructure construction developed at a somewhat steady rate in spite of the weakening of municipal finances.

In January-September in Finland, YIT sold a total of 1,057 residential units built as development projects aimed directly at consumers and 1,257 rental housing units for investors. In 2009, YIT has started up the construction of a total of 2,195 residential units in Finland, of which 954 were development projects aimed directly at consumers.

The operating profit of International Construction Services turned positive in the third quarter. Our residential sales in Russia have strengthened as the year has progressed: we sold 323 residential units during the first quarter, 494 units during the second and 829 during the third. The high need for housing has continued in Russia, but the market supply has diminished as the residential sales have proceeded and there has been a lack of start-ups. We started our first new residential project since the summer 2008 in Zhukovsky, one of the cities surrounding Moscow. In the Baltic countries, the market remained weak. We have made agreements for small-scale contract work and decreased the number of our unsold residential units. So far in the year, we have sold 250 residential units in the Baltic countries, and only 46 remained unsold at the end of September.

We aim to keep boosting the efficiency of our operations and use of capital as well as seek profitable growth. We have raised the Group's strategic target for annual revenue growth to 5-10 per cent on average.

Group key figures:

Segment key figures:

Information session, webcast and conference call

YIT will hold an information session on the Interim Report for investors, analysts and the media on Wednesday, October 28, 2009 at 10:00 a.m. (Finnish time, EEST) at YIT's head office, address Panuntie 11, 00620 Helsinki, Finland. The information session will be held in English. At the end of the session, representatives of the media can also ask questions in Finnish. The presentation materials are available in English and Finnish.

The information session can be viewed live at YIT's web site, www.yitgroup.com/webcast. The webcast replay will be available at the same address starting at approximately 12:00 noon. Participants are asked to call the assigned number +44 (0)20 7162 0077 at 9:55 a.m. (Finnish time, EEST) at the latest, i.e. a minimum of 5 minutes before the conference call begins.

Schedule in different time zones:

Financial reports and other investor information are available at YIT's website, www.yitgroup.com/investors. The materials may be ordered via the Internet site, by sending an e-mail to InvestorRelations@yit.fi or by telephone at +358 20 433 2467.

YIT CORPORATION

Juhani Pitkäkoski
President and CEO

For further information, please contact:
Timo Lehtinen, Chief Financial Officer, +358 45 670 0626, timo.lehtinen@yit.fi
Petra Thorén, Senior Vice President, Investor Relations, +358 40 764 5462, petra.thoren@yit.fi

Distribution: NASDAQ OMX Helsinki, main media, www.yitgroup.com