YIT Corporation’s Annual General Meeting on March 18, 2015: President and CEO Kari Kauniskangas comments on the first quarter’s development

STOCK EXCHANGE RELEASE      MARCH 18, 2014 AT 9:00 A.M.

 

YIT Corporation’s Annual General Meeting on March 18, 2015: President and CEO Kari Kauniskangas comments on the first quarter’s development

 

YIT Corporation will hold its Annual General Meeting today, March 18, 2015 at 10:00 a.m. The President and CEO Kari Kauniskangas will present a review of YIT’s Financial Statements for 2014 as well as the outlook for the present year. In addition, President and CEO Kauniskangas will briefly comment on the first quarter’s development.

“Despite the continued demanding market situation in our main markets Finland and Russia, we have had several successes during the beginning of the year. The consortium formed by YIT and Meridiam was chosen as the preferred bidder for E18 Hamina-Vaalimaa motorway project, in addition to which we have won several new business premises contracts in Finland and CEE-countries. We are also satisfied that the city plan regarding the Tripla project in Central Pasila became legally valid, enabling the project to proceed.

In Housing, investors have continued to be active in Finland and in the beginning of March we signed a significant frame agreement with LocalTapiola on construction of over 550 apartments. The Finnish consumer demand has remained weak, and in Russia the demand has slowed down from the good level in the beginning of the year. In CEE-countries, the positive development of the residential market has continued especially in the Czech Republic and Slovakia. We estimate the first quarter’s consumer sales to be approximately 300 apartments in Finland, approximately 900 apartments in Russia and approximately 200 apartments in CEE-countries.” says President and CEO Kari Kauniskangas.

The complete agenda of the Annual General Meeting was published on February 5, 2015. The Annual General Meeting agenda and the presentation material of the review of the President and CEO Kari Kauniskangas are available on the YIT website at www.yitgroup.com/agm2015 .

 

 

YIT CORPORATION

 

Sanna Kaje
Vice President, Investor Relations

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 and Slovakia. 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 seven countries. In 2014, our revenue amounted to around EUR 1.8 billion. Our share is listed on NASDAQ OMX Helsinki. www.yitgroup.com

 

 

 

About Us

YIT creates better living environment by developing and constructing housing, business premises, infrastructure and entire areas. Our vision is to bring more life in sustainable cities. We want to focus on caring for customer, visionary urban development, passionate execution and inspiring leadership. Our growth engine is urban development involving partners. Our operating area covers Finland, Russia, the Baltic countries, the Czech Republic, Slovakia and Poland. In 2016, our revenue amounted to nearly EUR 1.8 billion, and we employ about 5,300 employees. Our share is listed on Nasdaq Helsinki. www.yitgroup.com

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