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YIT as an investment

YIT is the largest Finnish and significant North European construction company. We develop and build apartments, business premises and entire areas. We are also specialised in demanding infrastructure construction and paving.  Together with our customers our 10,000 professionals are creating more functional, more attractive and more sustainable cities and environments. We work in 11 countries: Finland, Russia, Scandinavia, the Baltic States, the Czech Republic, Slovakia and Poland. The new YIT was born when over 100-year-old YIT Corporation and Lemminkäinen Corporation merged on February 1, 2018. Our pro forma annual revenue for 2017 was over EUR 3.8 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com 

Deal rationale

Strong platform for growth

• Target to become a leader in urban development
• More balanced business portfolio
(Infra, Housing, Business Premises, Partnership Properties)
• Wider geographical presence in several economic regions

Synergies and improved competitiveness

• Good references and wide pool of professional people
• Potential for profitability improvement
• Wider opportunities for specialization and scale

Improved financial position and reduced risk profile

• Counter cyclicality of businesses and geographies
• Lower financing costs
• Lower dependency on investment demand

Enhanced investment case

• Significant market value, good liquidity of the share
• Balanced and improved risk profile
• Growing dividend expectation

Strengthened revenue growth and healthy profitability through economic cycles (POC)

 

Note: Segment level figures (POC), i.e. sum of Construction Services related segment figures in YIT financial reporting and thus excluding effect of other items.*Lemminkäinen’s revenue and adjusted operating profit split by business segments are IFRS figures. They are  presented for illustrative purposes only and not comparable with YIT’s figures for 2017.

Illustrative combined revenue splits 2017*

* Preliminary combined high level illustrative estimates for the geographical, operational and business logic splits reflect the external and internal reporting of YIT and Lemminkäinen prepared under IFRS principles for the year 2017. Illustrative high level estimates of splits presented are based on a hypothetical situation and are not intended to project the revenue split of the Combined entity in the future. The illustrative information should not be viewed as pro forma information.

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