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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

Jukka Kalliomäki
Group Treasurer
Hanna Jaakkola
Vice President, Investor Relations

Key figures

GROUP REPORTING, IFRS
EUR million  3/2017 12/2016  9/2016  6/2016  3/2016 
Operating cash flow after investments, rolling 12 months 23  -43  22  56  144
EBITDA, rolling 12 months

53.8

 48.8  46.8  68.9  90.8
Interest-bearing debt 668  699.5  678.1  628.4  676.9
Cash and cash equivalents  77.7  66.4  66.8  71.8  122.4
Interest-bearing receivables 39.1 34.6 33.5    
Net debt  551.1  598.6  577.9  556.6  554.5
Net debt/ EBITDA, multiple 10.3 12.3   12.3  8.1  6.1
Gearing ratio, %  103.6 112.3  118.9  104.8  108.6
Equity ratio, %  35.4 35.1  30.1  33.0  31.5

 Net debt definition revised as of beginning of 2017, comparison figures adjusted accordingly: As of the beginning of 2017, YIT considers interest-bearing receivables as part of net interest-bearing debt. Interest-bearing receivables are related to cooperation projects that support YIT's strategy. The most essential instalment was an interest-bearing receivable of EUR 33.5 milllion regarding the obligation to redeem parking spaces in Tripla project, booked in the balance sheet in Q3/2016. Other interest-bearing receivables are loans granted for joint ventures.

SEGMENT REPORTING, POC
  3/2017 12/2016  9/2016  6/2016  3/2016
Net debt/ EBITDA, multiple 5.5  6.8  8.9  6.5  6.9
Gearing ratio, % 72.8  83.3  91.8  82.5  89.6
Equity ratio, %  35.4  35.1  33.8  36.4  34.1

 

OTHER KEY FIGURES
  3/2017 12/2016  9/2016  6/2016  3/2016
Undrawn revolving credit facilities, EUR million 200.0  200.0  300.0  300.0  300.0
Average interest rate, %  3.64  3.48  3.65  3.78  4.16
Fixed-rate loans, %  90  89  88  86  85

 

Credit rankings

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