Annual Report 2016

YIT's Annual Report consists of the annual review, the report of the Board of Directors and the Financial Statements for 2016.

Download PDF

YIT creates a better living environment by developing and constructing housing, business premises, infrastructure and entire areas. Our vision is to bring more life into sustainable cities.

President and ceo's review

The year 2016 marked a turning point for YIT, President & CEO Kari Kauniskangas writes in his review. The renewed strategy for the next three-year period also marked a shift in our focus to growth. The profitability is also currently trending in the right direction in all of our business segments.

Go to the review in the pdf

More life in sustainable cities

Urbanisation is progressing practically throughout the world, and increasing attention is being paid to the quality of the urban environment and urban life. This means a shift to the development of mixed-use environments. The dominance of private cars is crumbling. Residents and visitors are taking back the urban space, bringing diverse life back into cities.

Go to the strategy section in the pdf

“Dense urban development supports diverse services and activities.”


YIT's Sustainable Urban Environments Indicators

Highlights of the year

  • Kasarmikatu 21 office building in central Helsinki

    In March, YIT signed a contract for the demolition of two old office properties and the construction of a new office building in the heart of Helsinki. The real estate company is a joint venture between Ahlström Capital, HGR Property Partners and YIT.

  • First residential project in Poland

    YIT established its Poland unit in autumn 2015 to strengthen its presence in the CEE countries. The first residential project in Poland, Nordic Mokotów, started in May 2016.

  • Flexible Smartti homes launched in the market

    YIT introduced its new affordable and flexible Smartti housing concept in May. The construction of the first Smartti project began in Lahti in July. At the end of the year, more than 400 Smartti homes were under construction across Finland.

  • EUR 300 million financing package for the Tripla shopping mall project

    The Tripla project in Pasila, Helsinki, took a significant step forward in June with the signing of financing contracts for the shopping mall, which meant the contracts under which the construction of the Mall of Tripla will be carried out in the form of a joint venture became effective.

  • YIT chosen to construct the Helsinki Central Library Oodi

    In July, YIT signed a project management contract with the City of Helsinki regarding the construction of the Helsinki Central Library. The construction was started in November and contract’s value for YIT is approximately EUR 50 million.

  • YIT’s largest area project in Slovakia started

    In September, YIT started the first phase of the Nuppu area development project in Slovakia. With a project value exceeding EUR 100 million and more than 1,000 apartments to be completed, it is YIT’s largest area project in Slovakia for the present.

  • YIT awarded a BREEAM certificate in Kazan, Russia

    YIT’s residential building in Kazan, Russia, was awarded a BREEAM certificate for ecological efficiency in September. It is the first building in the Kazan property market to be awarded the widely recognised certificate.

  • Tampere light rail project implementation contract

    YIT, VR Track and Pöyry signed an agreement with the City of Tampere in November regarding the implementation of the Tampere light rail project. The construction will start in 2017. YIT’s share of the contract is approximately
    EUR 110 million.


Sections in the Annual Report

The Annual Report comprise seven sections: Year 2016, More life, Business operations, Corporate Responsibility, Corporate Governance, Financial Statements and Investors. You can go directly to any section in the PDF by choosing it below.

  Scroll previous Annual Reports


  • Annual Report 2015

    The theme of the Annual Report was More City. With this theme, we wanted to focus on how people’s diverse needs and changing life circumstances challenge us to create better and more sustainable living environments. This means more flexible premises, functional infrastructure and services, shops and jobs close to the home. Our goal is to develop and build sustainable urban environments that retain their value, where services are located close to residents, and where public transport makes everyday life easier and helps reduce emissions.

    Read annual report

  • Annual report 2014

    In spite of the turbulence in the markets, there were numerous successes in 2014. In Housing, we achieved record-high residential sales in Russia as well as in the Baltic countries and Central Eastern Europe. In Finland, active investor sales compensated for weak consumer demand. In Business Premises and Infrastructure, our order backlog grew and our competitiveness improved due to reorganization among other things. We also completed significant road projects ahead of schedule.

    Read annual report 

  • Annual report 2013

    The past year was exceptional for YIT. A demerger in the summer formed two independent listed companies, YIT and Caverion. However, the demerger was only the first impulse for a change in the way we think and operate. In the summer, we refined the new YIT’s corporate culture, values, vision, targets and strategy. We also achieved moderate success in our business despite the fairly weak development of our market environment during the year. We achieved great successes in our land acquisitions and project development efforts, which are important building blocks for the future.

    Annual review    Financial review

  • Annual report 2012

    The year 2012 was an eventful one for YIT. The uncertainty of the real economy was reflected in the operations of Building Services in the form of projects being postponed, yet we can be satisfied with the favourable developments in Construction Services. Our operating profit increased by three percent to EUR 249 million, which is largely due to the excellent performance of International Construction Services. The Group’s revenue was on a par with the previous year, at EUR 4,676 million. The order backlog was also strong, driven by construction activity in Russia.

    Annual review   Financial review 

  • Annual Report 2011

    During 2011, we invested in securing future growth opportunities through plot investments and increasing the number of residential start-ups. In Building Services, we commenced a programme to improve profitability and strengthened our market position through acquisitions particularly in Northern Europe. Additionally, we strengthened our financial position in order to be prepared for uncertain market situation.

    Annual review    Financial review