YIT’s comparable figures for 2013 in accordance with the new segment structure

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STOCK EXCHANGE RELEASE              MARCH 27, 2014 AT 9:00 A.M.

 

YIT’S COMPARABLE FIGURES FOR 2013 IN ACCORDANCE WITH THE NEW SEGMENT STRUCTURE

YIT Corporation changed its segment structure as of the beginning of 2014. The company’s two reporting segments as of January 1, 2014 are 1) Housing and 2) Business Premises and Infrastructure. Under the Housing segment, key financial figures are also reported for two geographical regions: 1) Finland, the Baltic countries and Central Eastern Europe, and 2) Russia. The Business Premises and Infrastructure segment comprises business premises construction in Finland, the Baltic countries and Central Eastern Europe, as well as infra services in Finland. Reporting under the new segment structure will begin from the January–March 2014 interim report, which will be published on April 25, 2014.

The reason behind the replacement of the former, geographical segment structure is the aim to renew the structure to better match the company’s new management structure and business areas. The objective of the new segment and management structure is to strengthen the development of YIT’s strategic focus areas and support growth in the company’s own-developed projects, particularly in emerging markets. The changes are aimed at facilitating the effective implementation of the company’s strategy as well as an increasingly customer-focused operating model.

YIT’s comparable figures for 2013 according to the new segment structure based on segment reporting (POC) are presented below.

 

Revenue

 

EUR million 1-3/13 4-6/13 7-9/13 10-12/13 1-3/13 1-6/13 1-9/13 1-12/13
Housing 286.2 247.9 270.4 347.7 286.2 534.1 804.5 1,152.2
 Finland, the Baltic countries and Central Eastern Europe 188.6 131.6 140.0 196.0 188.6 320.2 460.2 656.2
 Russia 97.6 116.3 130.4 151.7 97.6 214.0 344.3 496.0
Business Premises and Infrastructure 158.8 177.0 181.4 171.7 158.8 335.7 517.2 688.9
Other items 7.0 6.1 2.8 1.9 7.0 13.1 15.9 17.8
Group, total (POC) 452.0 430.9 454.7 521.3 452.0 882.9 1,337.6 1,858.8
IFRS adjustment -6.4 6.2 -91.7 -24.0 -6.4 -0.2 -91.9 -115.9
Group, total (IFRS) 445.6 437.1 363.0 497.3 445.6 882.7 1,245.7 1,743.0

 

Operating profit

 

EUR million 1-3/13 4-6/13 7-9/13 10-12/13 1-3/13 1-6/13 1-9/13 1-12/13
Housing 35.0 30.6 34.8 35.5 35.0 65.6 100.4 135.8
 Finland, the Baltic countries and Central Eastern Europe 22.4 13.7 14.7 14.9 22.4 36.1 50.8 65.7
 Russia 12.6 17.0 20.1 20.5 12.6 29.5 49.6 70.2
Business Premises and Infrastructure 3.1 9.9 8.0 9.5 3.1 13.0 21.0 30.5
Other items -2.2 -2.2 -5.4 -3.8 -2.2 -4.4 -9.8 -13.6
Group, total (POC) 35.9 38.3 37.4 41.2 35.9 74.2 111.6 152.8
IFRS adjustment -4.9 -6.0 -25.7 -12.2 -4.9 -10.9 -36.6 -48.8
Group, total (IFRS) 31.0 32.3 11.7 29.0 31.0 63.3 75.0 104.0

 


 

 

Operating profit excluding non-recurring items

 

EUR million 1-3/13 4-6/13 7-9/13 10-12/13 1-3/13 1-6/13 1-9/13 1-12/13
Housing 35.0 30.6 34.8 36.0 35.0 65.6 100.4 136.3
 Finland, the Baltic countries and Central Eastern Europe 22.4 13.7 14.7 15.4 22.4 36.1 50.8 66.2
 Russia 12.6 17.0 20.1 20.5 12.6 29.5 49.6 70.2
Business Premises and Infrastructure 3.1 9.9 8.0 10.0 3.1 13.0 21.0 31.0
Other items -2.2 -2.2 -5.4 -3.5 -2.2 -4.4 -9.8 -13.4
Group, total (POC) 35.9 38.3 37.4 42.4 35.9 74.2 111.6 154.0
IFRS adjustment -4.9 -6.0 -25.7 -12.2 -4.9 -10.9 -36.6 -48.8
Group, total (IFRS) 31.0 32.3 11.7 30.2 31.0 63.3 75.0 105.2

 

Operating profit for October-December in 2013 includes a non-recurring cost of EUR 1.2 million related to restructuring measures. Of the non-recurring cost, EUR 0.5 million was booked in Housing segment (Finland, the Baltic countries and Central Eastern Europe), EUR 0.5 million in Business Premises and Infrastructure segment and EUR 0.2 million in other items.

 

Operating profit margin

 

% 1-3/13 4-6/13 7-9/13 10-12/13 1-3/13 1-6/13 1-9/13 1-12/13
Housing 12.2 12.3 12.9 10.2 12.2 12.3 12.5 11.8
 Finland, the Baltic countries and Central Eastern Europe 11.9 10.4 10.5 7.6 11.9 11.3 11.0 10.0
 Russia 12.9 14.6 15.4 13.5 12.9 13.8 14.4 14.1
Business Premises and Infrastructure 1.9 5.6 4.4 5.5 1.9 3.9 4.1 4.4
Group, total (POC) 7.9 8.9 8.2 7.9 7.9 8.4 8.3 8.2
Group, total (IFRS) 7.0 7.4 3.2 5.8 7.0 7.2 6.0 6.0

 

Operating profit margin excluding non-recurring items

 

% 1-3/13 4-6/13 7-9/13 10-12/13 1-3/13 1-6/13 1-9/13 1-12/13
Housing 12.2 12.3 12.9 10.3 12.2 12.3 12.5 11.8
 Finland, the Baltic countries and Central Eastern Europe 11.9 10.4 10.5 7.9 11.9 11.3 11.0 10.1
 Russia 12.9 14.6 15.4 13.5 12.9 13.8 14.4 14.1
Business Premises and Infrastructure 1.9 5.6 4.4 5.8 1.9 3.9 4.1 4.5
Group, total (POC) 7.9 8.9 8.2 8.1 7.9 8.4 8.3 8.3
Group, total (IFRS) 7.0 7.4 3.2 6.1 7.0 7.2 6.0 6.0

 

Order backlog

 

EUR million 3/13 6/13 9/13 12/13
Housing 1,996.4 2,092.7 2,115.7 2,070.8
 Finland, the Baltic countries and
Central Eastern Europe
890.7 1,080.0 1,053.9 970.8
 Russia 1,105.7 1,012.7 1,061.8 1,100.0
Business Premises and Infrastructure 713.8 718.0 697.7 642.9
Group, total (POC) 2,710.2 2,810.8 2,813.4 2,713.7
IFRS adjustment 335.7 365.2 446.1 470.9
Group, total (IFRS) 3,045.9 3,176.0 3,259.5 3,184.6

 


 

 

Personnel at the end of the period

 

  3/13 6/13 9/13 12/13
Housing 4,174 4,215 3,872 3,818
 Finland, the Baltic countries and
Central Eastern Europe
1,966 2,063 1,864 1,832
 Russia 2,208 2,152 2,008 1,986
Business Premises and Infrastructure 2,180 2,381 2,164 2,037
Group services 335 308 348 317
Group, total 6,689 6,904 6,384 6,172

 

Assets

 

EUR million 12/13
Housing 1,620.3
Business Premises and Infrastructure 395.4
Other segments and eliminations 61.1
Unallocated items 134.6
Group, total (POC) 2,211.3

 

Liabilities

 

EUR million 12/13
Housing 394.5
Business Premises and Infrastructure 205.7
Other segments and eliminations 15.4
Unallocated items 820.9
Group, total (POC) 1,436.4

 

Segments’ operative invested capital1

 

EUR million 12/13
Housing 1,225.8
 Finland, the Baltic countries and
Central Eastern Europe
651.8
 Russia 574.0
Business Premises and Infrastructure 189.8

 

Segments’ return on operative invested capital1

 


%
1-12/13
Housing 11.2
 Finland, the Baltic countries and
Central Eastern Europe
10.3
 Russia 12.3
Business Premises and Infrastructure 20.6

 

1 Only operational items are taken into account in calculating the segments’ invested capital.

 

 

For further information, please contact:

Sanna Kaje, Vice President, Investor Relations, YIT Corporation, +358 50 390 6750, sanna.kaje@yit.fi

 

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 for 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 caring for our customers, partners and personnel. We have more than 6,000 employees in seven countries. In 2013, our revenue amounted to nearly EUR 1.9 billion. Our share is listed on Nasdaq OMX Helsinki. www.yitgroup.com

 

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