YIT raises its guidance for 2017 regarding both the Group revenue and the adjusted operating profit
YIT Corporation Stock Exchange Release July 13, 2017 at 10:45 a.m.
YIT raises its guidance for 2017 regarding both the Group revenue and the adjusted operating profit. The more positive than before expectations regarding operating profit will take place in the last quarter of the year.
Regarding the sales process of the Kasarmikatu 21 office project in Helsinki, based on the price and terms indications from potential investors and ongoing further negotiations YIT estimates that the transaction will be completed by the end of 2017. The transaction has a positive impact on the Group’s adjusted operating profit.
The more positive development of the Group revenue and the adjusted operating profit is supported also by good residential sales and demand in both Finland and in the CEE countries. The residential sales in Russia have been weaker than expected in the beginning of the year. The adjusted operating profit for Housing Russia segment is still estimated to positive and to stay on a low level.
New guidance for 2017 (segment reporting, POC)
The Group revenue is estimated to grow by 5–12%.
The adjusted operating profit is estimated to be in the range of EUR 105–115 million.
The adjusted operating profit does not include material reorganisation costs, impairment or other items impacting comparability.
Previous guidance for 2017 (segment reporting, POC) (published on April 27, 2017)
The Group revenue is estimated to grow by 0–10%.
The adjusted operating profit is estimated to be in the range of EUR 90-105 million.
The adjusted operating profit does not include material reorganisation costs, impairment or other items impacting comparability.
YIT will publish its Half-Year Report for January–June 2017 on Thursday, July 27, 2017 at approximately 8.00 a.m. YIT is currently on silent period and will comment its results and outlook next time after the publishing of the Half-Year Report.
For further information, please contact:
Hanna Jaakkola, Vice President, Investor Relations, YIT Corporation, tel. +358 40 5666 070, hanna.jaakkola@yit.fi
Esa Neuvonen, Chief Financial Officer, YIT Corporation, tel. +358 40 500 1003, esa.neuvonen@yit.fi
YIT CORPORATION
Hanna Jaakkola
Vice President, Investor Relations
Distribution: Nasdaq Helsinki, major media, www.yitgroup.com
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