YIT to improve its capital efficiency by over EUR 40 million plot cooperation
YIT continues to improve its capital efficiency in accordance with its strategy by plot cooperation with funds. YIT sells plots and transfers pre-agreements for the purchase of plots worth over EUR 40 million to different funds. YIT will continue developing and constructing its projects on the plots and will pay rent for the plots to the funds. The plots are located in the Helsinki metropolitan area and other Finnish growth centres. The revenue effect of the deals is around EUR 40 million, and they do not have a significant impact on the Group earnings.
For further information, please contact:
Hanna Malmivaara, Vice President, Corporate Communications, YIT Corporation, tel. +358 40 561 6568, firstname.lastname@example.org
Vice President, Investor Relations and M&A
Distribution: NASDAQ OMX, principal media, www.yitgroup.com
YIT is a construction industry leader. We create better living environments in Finland, Russia, the Baltic countries, the Czech Republic, Slovakia and Poland. Over 100 years of experience have secured us a strong market position: we are the largest housing developer and one of the largest business premises and infrastructure developers in Finland, and the most significant foreign housing and area developer in Russia. Our vision is to stay one step ahead – while taking care of our customers, partners and personnel. We have nearly 6,000 employees in eight countries. In 2014, our revenue amounted to around EUR 1.8 billion. Our share is listed on NASDAQ OMX Helsinki. www.yitgroup.com