Debt investors
One of the key objectives of YIT's treasury policy is to ensure sufficient financing for its operations and the actions required to reach its strategic targets. The aim is to provide access to financing on competitive terms while minimising the net financing expenses, to execute financial risk management and to ensure sufficient diversification of funding sources.
Debt investor contacts
Key figures
GROUP REPORTING, IFRS |
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| EUR million | 12/2017 | 9/2017 | 6/2017 | 3/2017 | 12/2016 | |
| Operating cash flow after investments, excluding discontinued operations, rolling 12 months | 165 | -28 | 5 | 23 | -43 | |
| EBITDA, rolling 12 months | 123.4 |
104.1 |
67.0 |
53.8 |
48.5 | |
| Interest-bearing debt | 590.7 | 701.3 | 648.5 | 667.8 | 699.5 | |
| Cash and cash equivalents | 89.7 | 32.2 | 35.3 | 77.7 | 66.4 | |
| Interest-bearing receivables | 46.0 | 42.9 | 39.9 | 39.1 | 34.6 | |
| Net debt | 590.7 | 626.2 | 573.3 | 551.1 | 598.6 | |
| Net debt/ EBITDA, multiple | 3.7 | 6.0 | 8.6 | 10.3 | 12.3 | |
| Gearing ratio, % | 88.7 | 124.0 | 115.0 | 103.6 | 112.3 | |
| Equity ratio, % | 33.2 | 30.6 | 30.7 | 31.1 | 31.2 | |
Net debt definition revised as of beginning of 2017, comparison figures adjusted accordingly: As of from the beginning of 2017, YIT takes interest-bearing receivables into account in net interest-bearing debt. Interest-bearing receivables are related to co-operation projects in line with YIT’s strategy, with the most notable item being an interest-bearing receivable reported in the third quarter of 2016, associated with the construction of obligated parking spaces for the Tripla-project. The other interest-bearing receivables are loans granted to a joint venture.
SEGMENT REPORTING, POC |
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| 12/2017 | 9/2017 | 6/2017 | 3/2017 | 12/2016 | |
| Net debt/ EBITDA, multiple | 3.9 | 4.9 | 6.0 | 5.5 | 6.8 |
| Gearing ratio, % | 81.8 | 97.5 | 87.0 | 72.8 | 83.3 |
| Equity ratio, % | 35.1 | 34.3 | 34.6 | 35.4 | 35.1 |
OTHER KEY FIGURES |
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| 12/2017 | 9/2017 | 6/2017 | 3/2017 | 12/2016 | |
| Undrawn committed revolving credit facilities, EUR million | 200.0 | 200.0 | 200.0 | 200.0 | 200.0 |
| Average interest rate, % | 3.15 | 2.75 | 3.01 | 3.64 | 3.48 |
| Fixed-rate loans, % | 92 | 71 | 94 | 90 | 89 |
Credit rankings
YIT Corporation has not applied for a public rating from any rating agency.