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On September 19, 2018, YIT published its new strategy. The strategy of the new YIT is a natural continuation of YIT’s previous strategy. The target of YIT’s new strategy is to improve profitability and to strengthen financial stability. The company’s strategic priorities, sources of growth and structu-ral profitability, include urban development and non-cyclical businesses. The strategy is built on the strong megatrends of urbanisation, sustainability and digitalisation.
For urban development, YIT can utilise its strengths: project development, design and planning management, and management and coordination of complex projects. Managing the entire construction value chain from planning to maintenance brings the greatest productivity and customer benefits. Self-developed projects, life-cycle projects, different turnkey contracting models and cooperative projects including alliances, enable a holistic approach to the achievement of benefits.
A broad project portfolio, rental income, the measurement of assets at fair value and steady streams of capital gains make the Partnership properties segment a non-cyclical business. Other businesses that grow or remain stable throughout economic cycles include paving, mineral aggregates, road maintenance, renovation, property management services and living services. The target is to generate an annual, steady operating profit of approximately EUR 100 million from these businesses starting from 2019.
The cornerstones of success supporting these priorities include (1) top performance, (2) capital efficiency, (3) success with customers and partners, and (4) happy people. The successful integration of YIT and Lemminkäinen, establishing common ways of working and a common culture as well as achieving synergies are an important part of the cornerstones of the company’s success. Knowing the customers and understanding their needs help YIT develop improved solutions and better services. YIT strives to create a working community where the company culture, management, tools, and atmosphere support commitment and satisfaction.
The company’s strategy and its implementation were discussed in more detail in the Capital Markets Day to be held in Helsinki, Finland, on September 27, 2018. The presentations can be seen on YIT’s website http://www.yitgroup.com/cmd.
YIT’s confirmed financial targets depict the company’s view on its opportunities to create additional value in the long term based on the new strategy. Updated long-term financial targets include:
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