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Guidance for 2018

Previous guidances

 

Guidance for 2018 (IFRS) unchanged

On June 27, 2018, YIT’s Board of Directors decided to give numerical guidance for year 2018 concerning the development of both the Group pro forma revenue and adjusted pro forma operating profit. The guidance is unchanged.

The Group pro forma revenue 2018 is estimated to decrease by -2% – -6% from pro forma revenue 2017 (pro forma 2017: EUR 3,862.5 million). 

In 2018, the adjusted pro forma operating profit1 is estimated to be in the range of EUR 130–160 million (pro forma 2017: EUR 138.9 million).

Guidance rationale

The guidance for 2018 is based on, among others, the estimated timing of completions of residential projects under construction and the company’s solid order backlog. At the end of June, 53% of the order backlog was sold. YIT estimates that in 2018, approximately 5,300–5,700 apartments in Finland and CEE, and approximately 2,400–3,300 apartments in Russia will be completed, most of them during the last quarter of 2018.

In the third quarter, the adjusted pro forma operating profit1 is expected to be on the good level of last year, driven especially by the paving season.

During the first months of the year, YIT has signed several significant, long-term lease agreements and the estimate regarding the adjusted operating profit1 includes the divestment of some of the business premises in the Helsinki metropolitan area during the fourth quarter. In the fourth quarter, the adjusted pro forma operating profit1 is expected to be clearly better than last year.

1 The adjusted operating profit reflects the result of ordinary course of business and does not include material reorganisation costs, impairment charges or other items affecting comparability. Adjusted operating profit is disclosed to improve comparability between reporting periods. Adjusting items are defined more precisely in note 4.3 in the tables section.

Estimated completions of residential projects under construction

units

H1/2018, actual

Q3/2018,
 estimate

Q4/2018,
estimate

Q1/2019,

estimate

Q2/2019, estimate

Later

Finland

1,888

1,519

1,106

315

1,486

2,016

CEE

661

0–200

200–400

0–200

800–1,100

1,173

Russia

233

500–800

1,700–2,100

600–900

400–600

2,073

Total

2,782

2,019–2,519

3,006–3,606

915–1,415

2,686–3,186

5,262

Housing stock under construction, June 30, 2018: 14,938

 

 

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