Interim Report Jan-Mar/2006

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Presentation transcript:

Interim Report Jan-Mar/2006 April 27, 2006 YIT Group Interim Report Jan-Mar/2006 Hannu Leinonen Group CEO Event for analysts and investors April 27, 2006 YIT Oyj

Contents YIT Group Interim Report Jan-Mar/2006 April 27, 2006 Contents YIT Group Interim Report Jan-Mar/2006 Strategy and Strategic Target Levels Market and Future Outlook Appendices YIT Share Strategic Target Levels Market Outlook Interim Report Jan–Mar/2006 YIT Oyj

Interim Report Jan-Mar/2006 April 27, 2006 YIT Group Interim Report Jan-Mar/2006 YIT Oyj

profit growth continued Revenue and profit growth continued YIT’s revenue and profit growth continued. Revenue growth was 16% and profit before taxes growth was 34%. Building Systems continued focusing on improving profitability. Operating profit improved to 3.6% of revenue (1-3/2005: 2.6%). Construction Services operating profit margin rose to 11.6% (10.8%). Revenue growth was 29%. Demand for residences in Finland remained good and other construction activity was also brisk. Residential construction in Russia, Estonia, Latvia and Lithuania was stepped up rapidly. Industrial and Network Services´operating profit declined as a result of the weak market situation within network services. Operating profit margin was 4.9% (7.4%).

Interim Report Jan-Mar/2006 Key figures Revenue MEUR 768.8 (1-3/2005: MEUR 663.9), growth 16%. Operating profit MEUR 53.7 (MEUR 40.1), growth 34%. Operating profit margin 7.0% (6.0%). Profit before taxes MEUR 50.1 (MEUR 37.5), growth 34%. Earnings per share EUR 0.29 (EUR 0.23), growth 26%. Return on investment 28.1% (19.7%). Order backlog MEUR 2,007.2 (MEUR 1,909.4), growth 5%. Equity ratio 33.5% (30.1%). Gearing ratio 62.7% (85.6%).

Consolidated income statement MEUR Jan-Mar/2006 Jan-Mar/2005 Change, % Jan-Dec/2005 Revenue 768.8 663.9 16 3,023.8 of which activities outside Finland 326.9 272.5 20.0 1,326.6 Operating income and expenses -709.4 -618.4 15.0 -2,772.9 Shares in associated companies 0.7 Depreciation and write-downs -5.7 -5.4 6.0 -23.9 Operating profit 53.7 40.1 34.0 227.7 as percentage of revenue 7.0 7.5 Financial income 1.3 0.3 *) 1.9 Exchange rate differences -0.6 1.2 2.0 Financial expenses -4.3 -4.1 5.0 -16.8 Profit before taxes 50.1 37.5 214.8 6.5 5.6 7.1 Income taxes -12.4 -9.2 35.0 -57.9 Profit for the period 37.7 28.3 33.0 156.9 4.9 4.3 5.2 Attributable to Equity holders of the company 36.4 28.2 29.0 155.5 Minority interests 0.1 1.4 Earnings per share, EUR 0.29 0.23 26.0 1.26 Diluted earnings per share, EUR 1.23 *) Change over 100%

Revenue by business segment MEUR Jan-Mar/ 2006 Jan-Mar/ 2005 Change, % Jan-Dec/ 2005 Building Systems *) 325.6 319.5 2 1,398.4 Construction Services 350.8 272.0 29 1,298.3 Industrial and Network Services *) 107.7 85.6 26 398.8 Other items -15.3 -13.2 16 -71.7 YIT Group total 768.8 663.9 3,023.8 *) At the beginning of 2006, industrial electricity, automation and HEPAC operations were transferred to the Industrial and Network Services business segment from the Building Systems business segment. The business operations that were transferred had revenue of EUR 58.9 million in 2005.

of which operations outside Finland MEUR 326.9 Breakdown of revenue Jan-Mar/2006 Finland 57.5% MEUR 441.9 Other countries 0.1% MEUR 1.1 Russia 6.5% MEUR 50.3 Lithuania, Latvia, Estonia 4.6% MEUR 35.1 Sweden, Norway, Denmark 31.3% MEUR 240.4 Total revenue MEUR 768.8 of which operations outside Finland MEUR 326.9

Operating profit by business segment Building Systems Construction Services Industrial and Network Services Other items 1-3/2005 1-3/2006 1-12/2005 Total operating profit Jan-Mar/2006 MEUR 53.7 Jan-Mar/2005 MEUR 40.1 Jan-Dec/2005 MEUR 227.7

Building Systems Operating profit by quarter Operating profit, MEUR Operating profit margin,% 1) 1) 1-3/ 04 4-6/ 04 7-9/ 04 10-12/ 04 1-12/ 04 1-3/ 05 4-6/ 05 7-9/ 05 10-12/ 05 1-12/ 05 1-3/ 06 1-3/ 04 4-6/ 04 7-9/ 04 10-12/ 04 1-12/ 04 1-3/ 05 4-6/ 05 7-9/ 05 10-12/ 05 1-12/ 05 1-3/ 06 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).

Construction Services Operating profit by quarter Operating profit, MEUR Operating profit margin,% 1-3/ 04 4-6/ 04 7-9/ 04 10-12/ 04 1-12/ 04 1-3/ 05 4-6/ 05 7-9/ 05 10-12/ 05 1-12/ 05 1-3/ 06 1-3/ 04 4-6/ 04 7-9/ 04 10-12/ 04 1-12/ 04 1-3/ 05 4-6/ 05 7-9/ 05 10-12/ 05 1-12/ 05 1-3/ 06

Industrial and Network Services Operating profit by quarter Operating profit, MEUR Operating profit margin,% 1-3/ 04 4-6/ 04 7-9/ 04 10-12/ 04 1-12/ 04 1-3/ 05 4-6/ 05 7-9/ 05 10-12/ 05 1-12/ 05 1-3/ 06 1-3/ 04 4-6/ 04 7-9/ 04 10-12/ 04 1-12/ 04 1-3/ 05 4-6/ 05 7-9/ 05 10-12/ 05 1-12/ 05 1-3/ 06

Earnings per share per quarter 1-3/ 2004 4-6/ 2004 7-9/ 2004 10-12/ 2004 1-12/ 2004 1-3/ 2005 4-6/ 2005 7-9/ 2005 10-12/ 2005 1-12/ 2005 1-3/ 2006 The doubling number of shares which came into effect on March 24, 2006 (split) has been taken into account.

Strategic target level: 22% Return on investment % IFRS 2004 IFRS 2005 IFRS 3/2005 IFRS 3/2006 FAS 1994 - 2004 Strategic target level: 22%

Order backlog at end of period MEUR 1,999.2 2,007.2 1,909.4 1,881.4 1,878.8 1,823.4 1,722.2 1,708.2 1,585.2

Order backlog by business segment MEUR Mar/2006 Mar/2005 Change, % Dec/ 2005 Building Systems *) 517.6 574.0 -10 492.0 Construction Services 1,296.5 1,131.0 15 1,242.6 Industrial and Network Services *) 219.5 234.4 -6 173.3 Other items -26.4 -30.0 -12 -29.1 YIT Group total 2,007.2 1,909.4 5 1,878.8 *) At the beginning of 2006, industrial electricity, automation and HEPAC operations were transferred to the Industrial and Network Services business segment from the Building Systems business segment. The business operations that were transferred had revenue of EUR 58.9 million in 2005.

Equity ratio and gearing by quarter Gearing ratio, %

Strategic Target Levels April 27, 2006 Strategy and Strategic Target Levels YIT Oyj

YIT’s strategic path Services for public sector Services for companies Services for consumers Leisure time solutions Single-family houses Maintenance and renovation B-C Services for public sector Other transport- and energy networks Services for companies From constructor to a service company Maintenance Tele networks Developer contracting HEPACE B-B Contracting Building construction Earthworks Life-cycle services for all business segments

Leisure sites Saariselkä CONSUMERS Ylläs Virpiniemi April 27, 2006 Leisure sites Ylläs Saariselkä Tahko Himos Virpiniemi Rokua SAARISELKÄ Chalets I sold and under construction Chalets 2 pre-marketing, completed by autumn 2007 YLLÄS Chalets I and II completed Chalets III pre-marketing, completed by autumn 2007 VIRPINIEMI Leisure time housing Pre-marketing in 2006-2007 Completed 2007-2008 ROKUA Stage 1 completed in summer 2007 TAHKO Stage 1 pre-marketing in end of 2006, completed 2007-2008 HIMOS Stage 1 pre-marketing in 2007, completed in December 2008 CONSUMERS Leisure time living secondary apartments holiday apartments investment apartments (also for companies) COMPANIES AND PUBLIC SECTOR Leisure centers Area development Customer premises for growing needs YIT Oyj

Growth drivers 2006 Increasing residential construction in Russia, Lithuania, Latvia and Estonia Rounding out Building Systems’ service portfolio in the Nordic and Baltic countries Outsourcings within the forest industry and Finnish network operators Expanding Industrial and Networks Service’s offerings in YIT’s business areas

Construction Services Russia, Lithuania, Latvia, Estonia JEKATERINBURG (1.3) NIZHNI-NOVGOROD (1.3) KAZAN (1.1) SAMARA (1.2) MOSCOW OBLAST (6.5) RIGA KAUNAS VILNIUS PÄRNU TALLINN KLAIPEDA TARTTO KIEV (2.6) JURMALA ST.PETERS- BURG (4,7) MOSCOW (10.1) ROSTOV (1.1.) MOSCOW OBLAST PUSHKINO 12/2005 KOROLEV 09/2005 NOGINSK 06/2005 DOLGOPRUDNYJ 06/2004 MOSCOW BALASHIHA 04/2004 OFFICE ZHUKOVSKI 02/2004 0 km 30 km RAMENSKOJE 06/2004 Current business locations Potential expansion 2007-

Key topics in developing YIT’s operations Personnel development Streamlining of business processes Procurements - efficient use of networks Use of IT - standardisation and information transfer Cash flow Brand

Focus areas in YIT’s operations Consumer services 27 % of revenue in Jan-Mar/2006 Households Services offered directly to end-users YIT Home Leisure-time construction Technical field services Long-term service agreements 27 % of revenue in Jan-Mar/2006 Companies Public sector Repeated service deliveries on agreed terms Industrial maintenance Data network maintenance, repairs, deliveries Building systems maintenance Road maintenance Project development and contracting 46 % of revenue in Jan-Mar/2006 Services delivered on project-specifically agreed terms Construction Industrial and network services Building systems

YIT’s strategic target levels Average annual growth in revenue 10% Return on investment 22% Equity ratio 35% Dividend payout 40–60% of net profit for the year after taxes and minority interests

April 27, 2006 Market and Future Outlook YIT Oyj

Market outlook April 27, 2006 Financial research institutions estimate that the national economies of the Nordic countries will develop at a stable rate of 2.5-3.5 per cent in 2006-2008, outpacing growth in the EU by about one percentage point. Russia and Norway benefit from the high price of oil. The rate of growth in the economies of Russia, Estonia, Latvia and Lithuania is about twice as fast as in the Nordic countries. Moderate growth in euro interest rates supports calm development in investments and housing demand. The positive trend in incomes and the improving employment situation bolster the households’ consumption. Housing sales can be expected to be as brisk as in the previous year. Growth in exports and industrial output increases the need for industrial investments and maintenance in the Nordic countries. YIT Oyj

Number of start-ups in YIT’s housing production in Finland No. 3,169 3,278 3,321 3,108 2,944 2,717 469 444

YIT residential production Russia and Lithuania, Latvia and Estonia April 27, 2006 nr Start-ups 44 307 195 251 280 81 3173 700 2263 1 111 nr Completed 225 341 466 237 219 326 84 Alaotsikko nr Under construction at end of period International operations capital employed: 12/2003 62 MEUR 12/2004 105 MEUR 12/2005 178 MEUR YIT Oyj

Outlook for 2006 in residential housing April 27, 2006 Outlook for 2006 in residential housing YIT estimates that in 2006 its market-financed residential start-ups in Finland will be at the previous year’s level (2005: 2,993). It is estimated that the construction of over 2,500 residential units (2,263) will begin in Russia and over 1,200 (1,111) in the Baltic countries. YIT Oyj

April 27, 2006 Outlook for 2006 We estimate that revenue and pre-tax profit for 2006 will be higher than last year. YIT Oyj

Appendices YIT Share Strategic Target Levels Market Outlook April 27, 2006 Appendices YIT Share Strategic Target Levels Market Outlook Interim Report Jan-Mar/2006 YIT Oyj

April 27, 2006 Appendices YIT Share YIT Oyj

Principal shareholders Mar 31, 2006 April 27, 2006 Principal shareholders Mar 31, 2006 No % 1. Sampo Life Insurance Company Ltd 8,600,000 6.89 2. Suomi Mutual Life Assur. Company 8,571,180 6.87 3. Varma-Sampo 7,297,208 5.85 4. Ilmarinen Mutual Pension Ins.Co 3,243,934 2.60 5. Tapiola Insurance Group 2,609,580 2.09 6. Etera Mutual Pension Ins. Company 1,724,400 1.38 7. Odin Norden 1,437,556 1.15 8. Kaleva Mutual Insurance Company 1,320,000 1.06 9. Brotherus Ilkka 1,224,740 0.98 10. Sijoitus-Wipunen Oy 849,140 0.68 Nominee-registered 54,892,921 43.99 Other shareholders 33,024,045 26.46 Total 124,794,704 100.00 Total number of shareholders 9,928. Nominal value of the share EUR 0.50 (registered on March 24, 2006, whereby the number of shares was doubled). Share capital EUR 62,397,352. YIT Oyj

Nominee-registered shareholders and other international ownership April 27, 2006 Nominee-registered shareholders and other international ownership Mar/2006: 46.1% 2001 2002 2003 2004 2005 2006 YIT Oyj

Number of shareholders at the end of period April 27, 2006 Number of shareholders at the end of period YIT Corporation was formed on September 2, 1987. YIT’s share has been quoted on Helsinki Exchanges since September 4, 1995. YIT Oyj

Strategic Target Levels April 27, 2006 Appendices Strategic Target Levels YIT Oyj

YIT’s strategic target levels Average annual growth in revenue 10% Return on investment 22% Equity ratio 35% Dividend payout 40–60% of net profit for the year after taxes and minority interests

Strategic target level: growth 10% per year Revenue 1994 - 1-3/2006 Me Average annual growth 1994-2005: 18.4% IFRS 2004 IFRS 2005 IFRS 1-3/05 IFRS 1-3/06 FAS 1994 - 2004 Strategic target level: growth 10% per year

Strategic target level: 22% Return on investment 1994 – 3/2006 % IFRS 2004 IFRS 2005 IFRS 3/2005 IFRS 3/2006 FAS 1994 - 2004 Strategic target level: 22%

Strategic target level: 35% Equity ratio 1994 – 3/2006 % IFRS 2004 IFRS 2005 IFRS 3/05 IFRS 3/06 FAS 1994 - 2004 Strategic target level: 35%

Dividend payout 1995-2005 Dividend/share, EUR Dividend/earnings, % 1997 1999 2001 2003 2005 The doubling number of shares wich came into effect on March 24, 2006 (split) has been taken into account. Year 2004 and 2005 are IFRS numbers. YIT´s dividend policy: 40–60% of the annual profit after taxes and minority interests

April 27, 2006 Appendices Market outlook YIT Oyj

Migration between municipalities in Finland persons 3/2006: 54,938 3/2005: 55,652 Source: Statistics Finland, April 21, 2006

Own economic situation Finland’s economic situation Consumers’ confidence in their own household’s and Finland’s economy within next 12 months Saldo (%-share of positive answers – %-share of negative answers) Own economic situation Finland’s economic situation Source: Statistics Finland´s Consumer Survey, March 27, 2006

Housing loans and interest rates in Finland MEUR % Source: Bank of Finland, March 31, 2006

Indeces describing the strain imposed on a buyer of an apartment 7.0 6.5 6.0 5.5 5.0 4.5 4.0 3.5 70 65 60 55 50 45 40 35 Price per sq.m in relation to income in median household, %, on left Total cost of loan for 100 sq.m in relation to income in median household, %, on right Prices per sq.m have increased in relation to income Total cost of loan has decreased in relation to income -longer payment schedule of loan -low interest rate level Sources: Statistics Finland and Bank of Finland

Households’ intentions to acquire an owner-occupied flat during the next 12 months Source: Statistics Finland, March 27, 2006

Increase of housing prices in certain EU-countries Belgium Greece Spain France Ireland Luxembourg Netherlands Portugal Denmark Sweden Great Britain Germany Finland Source: European Central Bank

Share of outstanding debt of the disposable yearly income within the household sector in EU-countries in 2003, % Denmark Netherlands Great Britain Germany Sweden Portugal Spain EU-2003 Ireland Finland France Belgium Austria Italy Greece

Building Systems market by work types and YIT’s market shares Norway ~EUR 2.8 bill. (10%) - Heating, plumbing, sewage 0.9 bill. (0%) - Ventilation 0.7 bill. (12%) - Electricity 1.2 bill. (15%) Sweden ~EUR 5.6 bill. (9%) Heating, plumbing, sewage 1.6 bill. (10%) - Ventilation 1.0 bill. (8%) - Electricity 3.0 bill. (5%) Finland ~EUR 3.6 bill. (12%) - Heating, plumbing, sewage 1.5 bill. (5%) - Ventilation 0.7 bill. (20%) - Electricity 1.3 bill. (8%) Denmark ~EUR 4.7 bill. (3%) - Heating, plumbing, sewage 1.7 bill. (0%) - Ventilation 0.3 bill. (9%) - Electricity 2.7 bill. (4%) Baltic countries ~EUR 0.6 bill. (3%) - Lithuania 0.2 bill. (7%) - Latvia 0.2 bill. (1%) - Estonia 0.2 bill. (1%) Contents of the different work types vary between the countries. Electricity includes automation and data networks in properties.

Industrial maintenance market Norway MEUR 2,500 - outsourced MEUR 100 (4%) Sweden MEUR 6,600 - outsourced MEUR 500 (8%) Finland MEUR 4,000 - outsourced MEUR 1,000 (25%) Food industry MEUR 1,470 Pulp- and paper industry MEUR 1,650 Chemical industry MEUR 1,551 Metal industry MEUR 2,040 Others MEUR 6,389 Total market MEUR 13,100 - of which outsourced MEUR 1,600 (12%)

Fixed investments within manufacturing industry April 27, 2006 Fixed investments within manufacturing industry Investment survey of the Confederation of Finnish Industries, EK EUR million, market prices National accounts investments Source: Confederation of Finnish Industries, EK YIT Oyj

Interim Report Jan-Mar/2006 April 27, 2006 Appendices Interim Report Jan-Mar/2006 YIT Oyj

Key figures Mar/2006 Mar/2005 Change, % Dec/2005 April 27, 2006 Key figures Mar/2006 Mar/2005 Change, % Dec/2005 Earnings per share, EUR *) 0.29 0.23 26 1.26 Diluted earnings per share, EUR *) 1.23 Equity per share, EUR *) 4.23 3.48 22 4.49 Share price at end of period, EUR *) 22.38 10.92 105 18.07 Market capitalization at end of period, MEUR 2,792.9 1,338.6 109 2,254.4 Net interest-bearing debt at end of period, MEUR 334.2 368.1 -9 254.4 Return on investment, % 1) 28.1 19.7 43 26.4 Equity ratio, % 33.5 30.1 - 36.3 Gearing ratio, % 62.7 85.6 45.1 Gross capital expenditures, MEUR 9.1 7.0 30 Order backlog at end of period, MEUR 2) 2,007.2 1,909.4 5 1,878.8 - of which order backlog outside Finland 836.7 728.9 47 752.4 Average personnel 21,131 21,267 -1 21,194 Last 12 months. Portion of binding orders not recognized as income. *) The doubling number of shares which came into effect on March 24, 2006 (split) has been taken into account. YIT Oyj

Consolidated balance sheet MEUR ASSETS Mar/2006 Mar/2005 Change, % Dec/2005 Non-current assets Tangible assets 80.2 77.9 3 77.1 Goodwill 248.8 248.9 - Other intangible assets 12.9 12.6 2 13.4 Shares in associated companies 2.0 1.2 67 1.8 Other investments 3.1 2.9 7 3.0 Receivables 10.5 8.5 24 9.4 Deferred tax receivables 22.2 24.4 -9 23.6 Current assets Inventories 717.4 634.4 13 685.2 Trade and other receivables 592.3 458.1 29 545.2 Cash and cash equivalents 32.6 39.2 -17 80.6 Total assets 1,722.0 1,508.2 14 1,688.1 *) Change over 100%

Consolidated balance sheet MEUR EQUITY AND LIABILITIES Mar/2006 Mar/2005 Change, % Dec/2005 Equity attributable to equity holders of the company Share capital 62.4 61.3 2 Other equity 465.7 364.8 28 497.4 Minority interests 5.0 4.0 25 3.7 Total equity 533.1 430.1 24 563.5 Non-current liabilities Deferred tax liabilities 37.9 21.1 80 36.5 Pension liabilities 10.9 10.0 9 11.6 Provisions 30.0 23.6 27 30.1 Interest-bearing liabilities 170.8 220.6 -23 172.4 Other liabilities 8.5 4.3 98 4.4 Current liabilities Trade and other payables 719.0 587.8 22 691.2 15.8 24.0 -34 Interest-bearing current liabilities 196.0 186.7 5 162.6 Total equity and liabilities 1,722.0 1,508.2 14 1,688.1

Revenue and operating profit by quarter Revenue, MEUR Operating profit, MEUR 1-3/ 04 4-6/ 04 7-9/ 04 10-12/ 04 1-3/ 05 4-6/ 05 7-9/ 05 10-12/ 05 1-3/ 06 1-3/ 04 4-6/ 04 7-9/ 04 10-12/ 04 1-3/ 05 4-6/ 05 7-9/ 05 10-12/ 05 1-3/ 06

Operating profit by business segment MEUR Jan-Mar/ 2006 Jan-Mar/ 2005 Change, % Jan-Dec/ 2005 Building Systems 11.7 8.2 43 56.8 Construction Services 40.7 29.4 38 143.1 Industrial and Network Services 5.3 6.3 -16 39.1 Other items -4.0 -3.8 5 -11.3 YIT Group total 53.7 40.1 34 227.7

of which operations outside Finland MEUR 326.9 Breakdown of revenue Jan-Mar/2006 Building Systems 41% MEUR 325.6 Industrial and Network Services 14% MEUR 107.7 Construction Services 45% MEUR 350.8 Total revenue MEUR 768.8 of which operations outside Finland MEUR 326.9

Building Systems Revenue and order backlog by quarter Revenue, MEUR Order backlog, MEUR 1-3/ 06 3/ 04 6/ 04 9/ 04 12/ 04 3/ 05 6/ 05 9/ 05 12/ 05 3/ 06 1-3/ 04 4-6/ 04 7-9/ 04 10-12/ 04 1-12/ 04 1-3/ 05 4-6/ 05 7-9/ 05 10-12/ 05 1-12/ 05

Construction Services Revenue and order backlog by quarter Revenue, MEUR Order backlog, MEUR 1-3/ 04 4-6/ 04 7-9/ 04 10-12/ 04 1-12/ 04 1-3/ 05 4-6/ 05 7-9/ 05 10-12/ 05 1-12/ 05 1-3/ 06 3/ 04 6/ 04 9/ 04 12/ 04 3/ 05 6/ 05 9/ 05 12/ 05 3/ 06

Industrial and Network Services Revenue and order backlog by quarter Revenue, MEUR Order backlog, MEUR 359 1-3/ 04 4-6/ 04 7-9/ 04 10-12/ 04 1-12/ 04 1-3/ 05 4-6/ 05 7-9/ 05 10-12/ 05 1-12/ 05 1-3/ 06 3/ 04 6/ 04 9/ 04 12/ 04 3/ 05 6/ 05 9/ 05 12/ 05 3/ 06

Building Systems Breakdown of revenue 1-3/2006 YIT Sverige AB Sweden 37% MEUR 122 Operations in Baltic countries and Russia 3% MEUR 9 YIT A/S Denmark 10% MEUR 33 YIT Building Systems AS Norway 25% MEUR 81 YIT Kiinteistötekniikka Oy Finland 25% MEUR 80 Total revenue MEUR 326

Construction Services Breakdown of revenue 1-3/2006 Other countries 1% MEUR 3 Finland 78% MEUR 274 Lithuania, Latvia, Estonia 8% MEUR 28 Russia 13% MEUR 46 Total revenue MEUR 351

Industrial and Network Services Breakdown of revenue 1-3/2006 Finland 94% MEUR 101 International operations 6% MEUR 7 Total revenue MEUR 108

Expanding maintenance services Net sales of maintenance and upkeep services and their share of the entire Group’s net sales MEUR 38 % 37 % 33 % 27 % 24 % 24 % 22 % 35 % 20 % 36 % IFRS 2004 IFRS 2005 IFRS 1-3/2005 IFRS 1-3/2006 FAS 1999 - 2004

Maintenance and upkeep services by business segment 1-3/2006 Building Systems MEUR 200.7 62 % of revenue Other items MEUR -7.6 Industrial and Network Services MEUR 64.4 60% of revenue Construction Services MEUR 12.3 4 % of revenue Maintenance and upkeep services YIT Group total MEUR 269.8 35% of revenue

Total order backlog Mar/2006 Order backlog by business segment Mar/2006 Building Systems 25% MEUR 517.6 Other itmes MEUR -26.4 Industrial and Network Services 11% MEUR 219.5 Construction Services 64% MEUR 1,296.5 Total order backlog Mar/2006 MEUR 2,007.2

Personnel at end of period

Total number of employees Mar/2006 Personnel by business segment Mar/2006 Building Systems 52% 11,011 Corporate Services 2% 311 Industrial and Network Services 22% 4,700 Construction Services 24% 5,118 Total number of employees Mar/2006 21,140 persons

Total number of employees Mar/2006 Personnel by country Mar/2006 Finland 53% 11,168 Russia 4% 938 Lithuania, Latvia, Estonia 7% 1,448 Denmark 5% 1,147 Norway 12% 2,477 Sweden 19% 3,962 Total number of employees Mar/2006 21,140 persons

Gross capital expenditures 1999 – 1-3/2006 MEUR % of revenue Major acquisitions: YIT Calor (2001), YIT Primatel (2002) and YIT Building Systems (2003).