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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

Karo Nukarinen
SVP, Group Treasury
Hanna Jaakkola
Vice President, Investor Relations

Key figures

GROUP REPORTING, IFRS
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
  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
  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.

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