YIT Corporation Investor News April 23, 2020, at 08:00 a.m.
YIT started residential apartment building projects in Finland, the CEE countries and Russia in January–March
YIT started several apartment building projects in January–March. The company took a cautious approach towards starting projects for consumers due to the uncertainty caused by the coronavirus pandemic. Instead, lots of projects were started for investors.
In Finland, the projects started will comprise more than 590 apartments in total with a total value of over EUR 110 million.
Furthermore, the company announced on April 8, 2020, that it had agreed to build more than 210 apartments for OP funds.
In the CEE countries, the company started the construction of over 160 apartments with a total value of over EUR 23 million.
In Russia, YIT started the construction of four locations, comprising more than 900 apartments with a total value of approximately EUR 48 million.
The projects are located at central locations in growth centres and will mainly be completed in the spring and summer 2021. The start-ups of the apartments are booked in the order backlog of the first quarter of the year.
For further information, please contact:
Tommi Järvenpää, Vice President, Investor Relations, YIT Corporation, tel. +358 (0)40 576 0288, firstname.lastname@example.org
Antti Inkilä, Executive Vice President, Housing Finland and CEE, YIT Corporation, tel. +358 (0)40 864 4358, email@example.com
Teemu Helppolainen, Executive Vice President, Housing Russia segment, YIT Corporation, tel. +79 153 168 216 8216, firstname.lastname@example.org
Vice President, Investor Relations
Distribution: NASDAQ Helsinki, major media, www.yitgroup.com
YIT is the largest Finnish and significant North European construction company. We develop and build apartments and living services, business premises and entire areas. We are also specialised in demanding infrastructure construction. Together with our customers, our nearly 8,000 professionals are creating more functional, attractive and sustainable cities and environments. We operate in 10 countries: Finland, Russia, Sweden, Norway, the Baltic countries, the Czech Republic, Slovakia and Poland. Our revenue in 2019 was approximately EUR 3.4 billion. YIT Corporation’s share is listed on Nasdaq Helsinki Oy. www.yitgroup.com