YIT CORPORATION February 9, 2007 | YIT Group Financial Statements 2006 Hannu Leinonen Group CEO Event for analysts and investors February 9, 2007
YIT CORPORATION February 9, 2007 | Contents YIT Group Financial Statements 2006 Business Year 2006 Future Outlook Appendices –YIT Share –Strategic Target Levels –Market Outlook –Financial Statements 2006 –Development of Strategic Target Figures
YIT CORPORATION February 9, 2007 | YIT Group Financial Statement 2006
YIT CORPORATION February 9, 2007 | Revenue, operating profit and order backlog rose to record high levels The Board of Directors will propose to the Annual General Meeting that a dividend of EUR 0.65 be paid per share (EUR 0.55) for the 2006 financial year, corresponding to 47.8 per cent (43.7%) of earnings per share. YIT is now increasing the dividend for the twelfth year in a row Growth Revenue Revenue in Russia 3,284.4 MEUR MEUR 3,023.8 MEUR MEUR 9% 65% Operating profit Operating profit margin MEUR 7.9% Me 7.5% 14% - Return on investment24.8%26.4 %- Equity ratio34.5%36.3%- Gearing ratio75.1%45.1%- Order backlog2,802.3 MEUR1,878.8 MEUR49% Number of employees22,31121,2891,022
YIT CORPORATION February 9, 2007 | Revenue and operating profit growth continued Building Systems forged ahead with improving profitability. The business segment’s operating profit growth was 54 per cent. The operating profit margin improved to 6.2 per cent (4.1). Profit in Construction Services was excellent in all areas of operations. Revenue grew by 12 per cent and operating profit by 19 per cent. Profitability remained excellent and the operating profit margin was 11.8 (11.0). Industrial and Network Services enjoyed favourable trends in industrial services. The business segment’s operating profit declined by 54 per cent due to the weak market situation in network services and due to personnel downscaling measures. The operating profit margin was 3.8 (9.8).
YIT CORPORATION February 9, 2007 | MEURJan-Dec/2006Jan-Dec/2005Change, % Revenue3,284.43, Operating profit as percentage of revenue Financial items, net as percentage of revenue Profit before taxes as percentage of revenue Income taxes 1) as percentage of revenue2627- Profit for the period as percentage of revenue Attributable to Equity holders of the company Minority interests4.41.4*) Earnings per share, EUR Consolidated income statement *) Change over 100% 1) Income taxes estimate for the total financial period
YIT CORPORATION February 9, 2007 | MEURJan-Dec/2006Jan-Dec/2005 Change, % Building Systems *)1,415.11, Construction Services1,452.21, Industrial and Network Services *) Other items YIT Group, total3,284.43, *) At the beginning of 2006, industrial electricity, automation and HEPAC operations in Finland were transferred to the Industrial and Network Services business segment from the Building Systems business segment. The business functions that were transferred had revenue of EUR 58.9 million in January-December/2005. Comparable growth in revenue in 2006 was 6 per cent in Building Systems and 4 per cent in Industrial and Network Services. Revenue by business segment
YIT CORPORATION February 9, 2007 | Breakdown of revenue 2006 Total revenue MEUR 3,284.4 (3,023.8) Finland 55% MEUR 1,807.0 (1,697.2) Growth 6% Lithuania, Latvia, Estonia 6% MEUR (198.8) Change -1% Sweden, Norway, Denmark 32% MEUR 1,049.4 (977.5) Growth 7% Other countries 0.4% MEUR 14.2 (18.7) Change -24% Russia 7% MEUR (131.6) Growth 65%
YIT CORPORATION February 9, 2007 | Breakdown of revenue and operating profit Construction Services 44% MEUR 1,452.2 Building Systems 43% MEUR 1,415.1 Industrial and Network Services 15% MEUR Total revenue MEUR 3,284.4 Total operating profit MEUR Construction Services 66% MEUR Building Systems 34% MEUR 87.6 Industrial and Network Services 7% MEUR 18.0 Other items -2% MEUR Other items -7% MEUR Revenue Operating profit
YIT CORPORATION February 9, 2007 | Operating profit by business segment MEUR Other items Industrial and Network Services Building Systems Construction Services Total operating profit 2006 MEUR MEUR MEUR ) 1) 1) Building Systems released provisions for certain ended contractual obligations in the Q42006 period. This had a positive impact of EUR 7.2 million on operating profit. 2) Includes EUR 5.1 million adjustment costs for personnel reductions in Q3/2006.
YIT CORPORATION February 9, 2007 | ) 1) ) Building Systems Operating profit by quarter Operating profit, MEUR Operating profit margin,% 1) Includes a loss provision of EUR 4 million due to an electrification project on two ships for the Royal Danish Navy (non-recurring item) in Q3/ ) Building Systems released provisions for certain ended contractual obligations in the Q42006 period. This had a positive impact of EUR 7.2 million on operating profit.
YIT CORPORATION February 9, 2007 | Construction Services Operating profit by quarter Operating profit, MEUR Operating profit margin,%
YIT CORPORATION February 9, 2007 | 1) ) Includes EUR 5.1 million adjustment costs for personnel reductions in Q3/2006. Industrial and Network Services Operating profit by quarter Operating profit, MEUR Operating profit margin,%
YIT CORPORATION February 9, 2007 | 4-6/ / / / 2004 e 1-3/ / / / / / / / / / / 2006 Earnings per share per quarter The doubling amount of shares which came into effect on March 24, 2006 (split) has been taken into account.
YIT CORPORATION February 9, 2007 | % Building Systems Dec/2005 Dec/2006 Construction Services Dec/2005 Dec/2006 Industrial and Network Services Dec/2005 Dec/ YIT Group Dec/2005 Dec/2006 Return on investment
YIT CORPORATION February 9, 2007 | Total Dec/2004 MEUR 841 Total Dec/2005 MEUR 899 Dec/2004 Dec/2005 Invested capital= balance sheet total - non interest-bearing liabilities YIT Group invested capital Other YIT Group 94% MEUR 793 Russia 6% MEUR 48 Russia 11% MEUR 100 Other YIT Group 89% MEUR 799 Russia 23% MEUR 279 Other YIT Group 77% MEUR 928 Total Dec/2006 MEUR 1,207 Dec/2006
YIT CORPORATION February 9, 2007 | Net interest-bearing debt, MEUR Gearing ratio, % Net debt and gearing by quarter
YIT CORPORATION February 9, 2007 | MEUR 1, , , , , , , , , , , ,802.3 Order backlog at end of period
YIT CORPORATION February 9, 2007 | MEUR Dec/2006Dec/2005Change, % Building Systems ,022 Construction Services2,053.51, Industrial and Network Services Other items YIT Group, total2,802.31, Order backlog by business segment
YIT CORPORATION February 9, 2007 | Personnel at end of period
YIT CORPORATION February 9, 2007 | Dividend payout The doubling amount of shares wich came into effect on March 24, 2006 (split) has been taken into account. Year 2004 and 2005 are IFRS numbers. Dividend/share, EUR Dividend/earnings, % YIT´s dividend policy: 40–60% of the annual profit after taxes and minority interests *Board of Directors’ proposal.
YIT CORPORATION February 9, 2007 | Business Year 2006
YIT CORPORATION February 9, 2007 | Strong market position within YIT ’ s business segments and market areas In Russia the biggest foreign player within Residential Construction In the Nordic countries the biggest Building Systems services provider In Finland the biggest services provider in all Business Segments In the Baltic countries among top market leaders within Construction Services
YIT CORPORATION February 9, 2007 | YIT’s strategic target levels Average annual growth in revenue 10% Operating profit margin (EBIT) 9% Return on investment 22% Equity ratio 35% Dividend payout 40–60% of net profit for the year after taxes and minority interests
YIT CORPORATION February 9, 2007 | Project development Jan-Dec/2006: ab. 9% Repeated service deliveries based on longer term agreements Services delivered based on project-specific competition Contracting Jan-Dec/2006: ab. 39% Long-term service agreements Jan-Dec/2006: 28% Consumer services Jan-Dec/2006: 24% Increase Keep Increase Comprehensive deliveries where we take part during the whole life cycle starting from developing the idea for the project Business mix development by value chain positioning EBIT 9% Services offered directly to end-users
YIT CORPORATION February 9, 2007 | Building Systems 2006 Improving profitability and rounding out the service portfolio Improving profitability Business mix development –Service and maintenance business increased from 60% to 64% –Increasing long-term service agreements –In project development emphasis on Design & Build solutions Rounding out the service portfolio - organic growth and acquisitions In Norway and Denmark acquisitions to gain piping know-how Growth in Latvia and in Russia in St. Petersburg and Moscow
YIT CORPORATION February 9, 2007 | New residential services Housing sales on good level Leisure time projects agreed upon in over 10 locations Preparing for production of single-family houses Own modernization projects Market position in road maintenance strengthened Six new public road maintenance contracts were landed YIT is Finland’s largest private road maintenance company, market share 20% Own development projects for business premises In business premise construction, retail investments gained added momentum from consumer demand Demand for new office buildings improved during the year Renovation is seeing steady growth Construction Services in Finland 2006 Leisure-time development
YIT CORPORATION February 9, 2007 | Potential expansion Growth in Construction Services in Russia 2006 Growth in residential development Kazan 5/2006, over 1,000 apartments Jekaterinburg 10/2006, ab. 300 apartments Jaroslavl 10/2006, ab. 160 apartments Moscow City 10/2006, ab. 150 apartments Strengthening the plot reserve Novo-Orlovskij 10/2006, over 15,500 apartments starting from 2008 Project development in St. Petersburg For equity fund EPI Russia an office building and a logistics centre on YIT’s plots in St Petersburg and Gorelovo For Atria a production plant and a logistics centre on YIT’s plot in Gorelovo Current business locations
YIT CORPORATION February 9, 2007 | Industrial and Network Services 2006 Outsourcings and long-term service agreements Outsourcings and partnership agreements in industrial maintenance Outsourcing of maintenance in all Botnia’s plants in Finland Maintenance of Finnsementti’s plant in Parainen Maintenance of Okmetic´s plant in Vantaa Maintenance of Purso´s plants in Siuro Maintenance of Parker Hannifin´s plants in Urjala Expansion into energy network maintenance Jan/2007 the electricity network maintenance and construction works outsourced to YIT by Vattenfall IT helpdesk services IT help desk services for Hewlett & Packard YIT established a subsidiary in St Petersburg to gain foothold for industrial services
YIT CORPORATION February 9, 2007 | No 2,944 3,169 3,278 3,108 2,717 3,321 3,004 Number of start-ups in YIT’s housing production in Finland
YIT CORPORATION February 9, 2007 | No / / / / / 2006 YIT’s residential production Russia
YIT CORPORATION February 9, 2007 | No 1-12/ / / / / / 2006 YIT’s residential production Lithuania, Latvia, Estonia
YIT CORPORATION February 9, 2007 | Future Outlook
YIT CORPORATION February 9, 2007 | YIT’s territories are still booming, although growth is slightly slower than in the previous year. It is estimated that the Nordic national economies will see stable development of 2-3 per cent in 2007 and 2008, outpacing EU growth by about one percentage point. Russia and Norway still benefit from the high prices of oil. The rate of growth in the economies of Russia, Estonia, Latvia and Lithuania is over twice as fast as in the Nordic countries. Euro interest rates are seeing moderate growth. The positive earnings trend and the improvement in the employment situation strengthens household confidence. The record-high population migration in Finland is continuing, maintaining stable need for the construction of new housing. Other construction is seeing growth. Strong demand for housing in the large cities of Russia enables the expansion of residential production in the long term. Growth in exports and industrial output increases the need for industrial investments and maintenance in the Nordic countries. Market outlook
YIT CORPORATION February 9, 2007 | Market development in Russia GDP growth in Russia on average twice as fast as in the Nordic countries Oil price still high Household income is increasing Huge need for new apartments Housing prices continue to rise Mortgage loan market started gradually to function Residential production supports the local development and the welfare targets set by society
YIT CORPORATION February 9, 2007 | Outlook for 2007 We estimate that revenue and operating profit (EBIT) in 2007 will increase compared to the previous year. The outlook for revenue growth is supported by the record-high order backlog, the continuing booming market situation and YIT’s major investments on the Russian market. The healthy margin of the order backlog and the company’s own profitability improvement measures underlie our expectations of growth in operating profit.
YIT CORPORATION February 9, 2007 | Sakari Toikkanen Executive Vice President tel More information on our web site Petra Thorén Vice President, Investor Relations tel mobile
YIT CORPORATION February 9, 2007 | Appendices YIT Share Strategic Target Levels Market Outlook Financial Statement 2006 Development of Strategic Target Figures
YIT CORPORATION February 9, 2007 | Appendix YIT Share
YIT CORPORATION February 9, 2007 | No % 1. Suomi Mutual Life Assur. Company 8,571, Sampo Life Insurance Company Ltd 7,246, Varma-Sampo 7,065, Ilmarinen Mutual Pension Ins.Co 3,234, Tapiola Insurance Group 2,600, Etera Mutual Pension Ins. Company 1,884, Odin Norden 1,450, Brotherus Ilkka 1,224, State Pension Fund 1,150, Kaleva Mutual Insurance Company 1,020, Nominee-registered 56,702, Other shareholders 34,626, Total 126,777, Principal shareholders Jan 31, 2007 Total number of shareholders 15,038. Nominal value of the share EUR 0.50 (registered on March 24, 2006, whereby the number of shares was doubled). Share capital EUR 63,388,536.
YIT CORPORATION February 9, 2007 | /2007: 47.4 % Nominee-registered shareholders + other international ownership % of equity
YIT CORPORATION February 9, 2007 | Number of shareholders at end of period YIT Corporation was formed on September 2, YIT’s share has been quoted on Helsinki Exchanges since September 4, 1995.
YIT CORPORATION February 9, 2007 | Appendix Strategic Target Levels
YIT CORPORATION February 9, 2007 | YIT’s strategic target levels Average annual growth in revenue 10% Operating profit margin (EBIT) 9% Return on investment 22% Equity ratio 35% Dividend payout 40–60% of net profit for the year after taxes and minority interests
YIT CORPORATION February 9, 2007 | Main growth drivers by segments Construction Services –Increasing residential development and starting project development business in Russia Building Systems –Rounding out the service portfolio in the Nordic and Baltic countries and St. Petersburg and Moscow Industrial and Network Services –Outsourcings within Finnish industry Organic growth Capital Organic growth and acquisitions Personnel Outsourcings Personnel Average annual growth 10%
YIT CORPORATION February 9, 2007 | Average annual growth in Russia 50% In Construction Services main focus on development business –Growth in residential development –Start-up of project development In Building Systems increasing volume in St. Petersburg and Moscow In Industrial Services gaining foothold in St. Petersburg Average annual growth 10%
YIT CORPORATION February 9, 2007 | Growth Construction Services in Russia Increasing residential development Growing in existing cities Entering new big cities (population over one million) Entering new satellite cities from the existing cities Start-up of project development Average annual growth 10%
YIT CORPORATION February 9, 2007 | Project development Jan-Dec/2006: ab. 9% Repeated service deliveries based on longer term agreements Services delivered based on project-specific competition Contracting Jan-Dec/2006: ab. 39% Long-term service agreements Jan-Dec/2006: 28% Consumer services Jan-Dec/2006: 24% Increase Keep Increase Comprehensive deliveries where we take part during the whole life cycle starting from developing the idea for the project Business mix development by value chain positioning EBIT 9% Services offered directly to end-users
YIT CORPORATION February 9, 2007 | % Building Systems Dec/2005 Dec/2006 Construction Services Dec/2005 Dec/2006 Industrial and Network Services Dec/2005 Dec/ YIT Group Dec/2005 Dec/2006 Return on investment Return on investment 22%
YIT CORPORATION February 9, 2007 | Strong financial position and optimal capital structure Gearing ratio, % Equity ratio, % Equity ratio 35%
YIT CORPORATION February 9, 2007 | Dividend payout The doubling amount of shares wich came into effect on March 24, 2006 (split) has been taken into account. Year 2004 and 2005 are IFRS numbers. Dividend/share, EUR Dividend/earnings, % YIT´s dividend policy: 40–60% of the annual profit after taxes and minority interests *Board of Directors’ proposal.
YIT CORPORATION February 9, 2007 | Appendix Market Outlook
YIT CORPORATION February 9, 2007 | persons Source: Statistics Finland, January 18, 2007 Migration between municipalities in Finland 12/2006: 285,930 12/2005: 290,799
YIT CORPORATION February 9, 2007 | MEUR % Source: Bank of Finland, January 31, 2007 Housing loans and interest rates in Finland
YIT CORPORATION February 9, 2007 | Consumers’ confidence in their own household’s and Finland’s economy within next 12 months Saldo (%-share of positive answers – %-share of negative answers) Source: Statistics Finland´s Consumer Survey, January 29, 2006 Own economic situation Finland’s economic situation
YIT CORPORATION February 9, 2007 | % of households Households’ intentions to acquire an owner- occupied flat during the next 12 months Source: Statistics Finland, January 29, 2006
YIT CORPORATION February 9, 2007 | Apartment prices 1)Nominal prices of old apartments in high-rise buildings in Finland 2)Real prices (deflated by wage level index) By quarter Nominal prices of apartments Source: Statistics Finland
YIT CORPORATION February 9, 2007 | Household debt as ratio of GDP in 2004
YIT CORPORATION February 9, 2007 | Debt of Finnish households compared to their disposable income Source: Statistics Finland, Bank of Finland and OKO Bank Housing loans All loans
YIT CORPORATION February 9, 2007 | Office rent index and vacancy rate Vacancy Rate Rent Index Reference: KTI and Catella Property Group Vacancy Rate (Helsinki) Rent Index (Helsinki centre)
YIT CORPORATION February 9, 2007 | Appendix Financial Statement 2006
YIT CORPORATION February 9, 2007 | Key figures Change, % Earnings per share, EUR *) Diluted earnings per share, EUR *) Equity per share, EUR *) Share price at end of period, EUR *) Market capitalization at end of period, MEUR2,656.02, Net interest-bearing debt at end of period, MEUR Return on investment, % 1) Equity ratio, % Gearing ratio, % Gross capital expenditures, MEUR Order backlog at end of period, MEUR 2)2,802.31, of which order backlog outside Finland1, Average personnel21,84621,1943 1)Last 12 months. 2)Portion of binding orders not recognized as income. *) The doubling amount of shares which came into effect on March 24, 2006 (split) has been taken into account.
YIT CORPORATION February 9, 2007 | MEUR ASSETS Change, % Non-current assets Tangible assets Goodwill Other intangible assets Shares in associated companies Other investments3.0 - Receivables Deferred tax receivables Current assets Inventories1, Trade and other receivables Cash and cash equivalents Total assets 2,117.81, Consolidated balance sheet
YIT CORPORATION February 9, 2007 | MEUR EQUITY AND LIABILITIES Change, % Equity attributable to equity holders of the company Share capital Other equity Minority interests Total equity Non-current liabilities Deferred tax liabilities Pension liabilities Provisions Interest-bearing liabilities Other liabilities Current liabilities Trade and other payables Provisions Interest-bearing current liabilities Total equity and liabilities 2, , Consolidated balance sheet
YIT CORPORATION February 9, 2007 | Revenue and operating profit by quarter 2004–2006 Revenue, MEUR Operating profit, MEUR
YIT CORPORATION February 9, 2007 | MEUR Change, % Building Systems 1) Construction Services Industrial and Network Services 2) Other items YIT Group total ) Includes EUR 5.1 million adjustment costs for personnel reductions in Q3/2006. Operating profit by business segment 1) Building Systems released provisions for certain ended contractual obligations in the Q42006 period. This had a positive impact of EUR 7.2 million on operating profit.
YIT CORPORATION February 9, 2007 | 20% 22% 24% 27% 33% 37% 38% FAS % IFRS 2005 IFRS 2006 IFRS 2004 Expanding maintenance services MEUR Net sales of maintenance and upkeep services and their share of YIT Group’s net sales
YIT CORPORATION February 9, 2007 | Maintenance services by business segment 2006 (2005) Construction Services MEUR 51 (42) 4% of revenue (3%) Building Systems MEUR 908 (841) 64% of revenue (60%) YIT Group total MEUR 1,222 37% of revenue (38%) Industrial and Network Services MEUR 288 (305) 60% of revenue (77%) Other items MEUR -25
YIT CORPORATION February 9, 2007 | *) At the beginning of 2006, industrial electricity, automation and HEPAC operations in Finland were transferred to the Industrial and Network Services business segment from the Building Systems business segment. The business functions that were transferred had revenue of EUR 58.9 million in January-December/2005. Comparable growth in revenue in 2006 was 6 per cent in Building Systems. Building Systems Revenue and order backlog by quarter Order backlog, MEUR Revenue, MEUR 1,3981,321 1,415
YIT CORPORATION February 9, 2007 | 1,298 1,147 1, Construction Services Revenue and order backlog by quarter Order backlog, MEUR Revenue, MEUR
YIT CORPORATION February 9, 2007 | Industrial and Network Services Revenue and order backlog by quarter Order backlog, MEUR Revenue, MEUR *) At the beginning of 2006, industrial electricity, automation and HEPAC operations in Finland were transferred to the Industrial and Network Services business segment from the Building Systems business segment. The business functions that were transferred had revenue of EUR 58.9 million in January-December/2005. Comparable growth in revenue in 2006 was 4 per cent in Industrial and Network Services.
YIT CORPORATION February 9, 2007 | Revenue 2006 MEUR 1,415.1 (1,398.4) YIT Kiinteistötekniikka Oy Finland 23% MEUR 327 (394) YIT Sverige AB Sweden 38% MEUR 541 (538) YIT Building Systems AS Norway 25% MEUR 346 (305) YIT A/S Denmark 10% MEUR 146 (124) Operations in Baltic countries and Russia 4% MEUR 54 (37) *) At the beginning of 2006, industrial electricity, automation and HEPAC operations in Finland were transferred to the Industrial and Network Services business segment from the Building Systems segment. The business functions that were transferred had revenue of EUR 58.9 million in January-December/2005. Comparable growth in revenue in 2006 was 6 per cent in Building Systems. Building Systems Breakdown of revenue 2006 (2005)
YIT CORPORATION February 9, 2007 | Russia 13% MEUR 190 (116) Revenue 2006 MEUR 1,452.2 (1,298.3) Finland 75% MEUR 1,083 (1,000) Lithuania, Latvia, Estonia 12% MEUR 170 (182) Construction Services Breakdown of revenue 2006 (2005)
YIT CORPORATION February 9, 2007 | Finland 94% MEUR 448 (371) Revenue 2006 MEUR (398.8) Other countries 6% MEUR 29 (28) Industrial and Network Services Breakdown of revenue 2006 (2005) *) At the beginning of 2006, industrial electricity, automation and HEPAC operations in Finland were transferred to the Industrial and Network Services business segment from the Building Systems segment. The business functions that were transferred had revenue of EUR 58.9 million in January-December/2005. Comparable growth in revenue in 2006 was 4 per cent in Industrial and Network Services.
YIT CORPORATION February 9, 2007 | Order backlog by business segment Dec/2006 (Dec/2005) Construction Services 73% MEUR 2,053.5 (1,242.6) Building Systems 21% MEUR (492.0) Industrial and Network Services 7% MEUR (173.3) Total order backlog Dec/2006 MEUR 2,802.3 (1,878.8) Other items -1% MEUR (-29.1)
YIT CORPORATION February 9, 2007 | Personnel by business segment Dec/2006 (Dec/2005) Construction Services 26% 5,693 (5,115) Building Systems 52% 11,643 (11,731) Industrial and Network Services 21% 4,642 (4,126) Total number of employees 22,311 (21,289) Group Services 1% 333 (317)
YIT CORPORATION February 9, 2007 | Personnel by country Dec/2006 (Dec/2005) Sweden 18% 4,137 (4,143) Russia 6% 1,293 (907) Finland 51% 11,355 (11,159) Denmark 6% 1,286 (1,103) Norway 12% 2,618 (2,485) Lithuania, Latvia, Estonia 7% 1,622 (1,492) Total number of employees 22,311 (21,289)
YIT CORPORATION February 9, 2007 | Gross capital expenditure 1999–2006 MEUR % of revenue Major acquisitions: YIT Calor (2001), YIT Primatel (2002) and YIT Building Systems (2003).
YIT CORPORATION February 9, 2007 | Appendix Development of Strategic Target Figures
YIT CORPORATION February 9, 2007 | Revenue MEUR IFRS 2004 Average annual growth : 17% FAS IFRS 2005 IFRS 2006 Strategic target level: growth 10% per year on average
YIT CORPORATION February 9, 2007 | Operating profit (EBIT) 1994 –2006 Keskimääräinen vuosittainen kasvu (FAS): 18,7% IFRS 2004 FAS IFRS 2005 IFRS 2006 Average annual growth : 24% MEUR Strategic target level: EBIT margin 9% of revenue
YIT CORPORATION February 9, 2007 | % IFRS 2004 FAS IFRS 2005 IFRS 2006 Return on investment Strategic target level: 22%
YIT CORPORATION February 9, 2007 | Equity ratio % IFRS 2004 FAS IFRS 2005 IFRS 2006 Strategic target level: 35%
YIT CORPORATION February 9, 2007 | Dividend payout The doubling amount of shares wich came into effect on March 24, 2006 (split) has been taken into account. Year 2004 and 2005 are IFRS numbers. Dividend/share, EUR Dividend/earnings, % YIT´s dividend policy: 40–60% of the annual profit after taxes and minority interests *Board of Directors’ proposal.