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.
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GROUP REPORTING, IFRS
|Operating cash flow after investments, rolling 12 months||23||-43||22||56||144|
|EBITDA, rolling 12 months||
|Cash and cash equivalents||77.7||66.4||66.8||71.8||122.4|
|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
|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
|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|
YIT Corporation has not applied for a public rating from any rating agency.