YIT Group Interim Report Jan-Mar/2007 Hannu Leinonen Group CEO Event for analysts April 26, 2007

Contents YIT Group Interim Report Jan-Mar/2007 26 April, 2007 Contents YIT Group Interim Report Jan-Mar/2007 Market and Future Outlook Appendices YIT Share Market Outlook Interim Report Jan-Mar/2007 Strategic Target Levels and their Development YIT Corporation

Interim Report Jan-Mar/2007 26 April, 2007 YIT Group Interim Report Jan-Mar/2007 YIT Corporation

Order backlog all time high Jan-Mar/2007 Jan-Mar/2006 Change, % Jan-Dec/2006 Revenue, MEUR Revenue in Russia, MEUR 833.5 48.1 768.8 50.3 8% -4% 3,284.4 216.9 Operating profit, MEUR Operating profit margin, % 61.2 7.3% 53.7 7.0% 14% - 258.8 7.9% Earnings per share, EUR 0.31 0.29 7% 1.36 Return on investment, % 25.4% 28.1% 24.8% Equity ratio, % 31.8% 33.5% 34.5% Gearing ratio, % 85.6% 62.7% 75.1% Order backlog, MEUR 2,995.4 2,007.2 49% 2,802.3 Number of employees 22,418 21,140 6% 22,311

Revenue and operating profit growth continued 26 April, 2007 Revenue and operating profit growth continued Building Systems Demand continued briskly in all business territories Profitability improvement continued. Operating profit margin rose to 5.1 % (Jan-Mar/2006: 3.6%) Focus on growth in 2006 was seen in the revenue growth which was 13% Order backlog all time high, growth 30% Construction Services Profitability remained excellent. Operating profit margin 11.2% (11.6%) Order backlog all time high, growth 65% In Finland demand for new housing stayed at good level In Russia the number of residences sold by YIT decreased compared to the previous period, but the value of sales stayed the same Industrial and Network Services In industrial maintenance and projects the trend was favourable Operating profit declined due to the weak market in network services and the final completion of the downscaling measures carried out in 2006* Operating profit margin 4.5% (4.9%) Order backlog growth 4% * EUR 1.0 million in downscaling expenses were booked in operating profit during Jan-Mar/2007. YIT Corporation

Consolidated income statement MEUR Jan-Mar/2007 Jan-Mar/2006 Change, % Jan-Dec/2006 Revenue 833.5 768.8 8 3,284.4 Operating profit 61.2 53.7 14 258.8 as percentage of revenue 7.3 7.0 - 7.9 Financial items, net -6.4 -3.6 78 -20.6 0.8 0.5 0.6 Profit before taxes 54.8 50.1 9 238.2 6.6 6.5 Income taxes 1) -14.7 -12.4 19 -62,8 as percentage of profit before taxes 26.8 24.8 26.4 Profit for the period 40.1 37.7 6 175.4 4.8 4.9 5.3 Attributable to Equity holders of the company 39.6 36.4 171.0 Minority interests 1.3 -62 4.4 Earnings per share, EUR 0.31 0.29 7 1.36 1) Income taxes have been accounted for as a share of the estimated taxes for the entire financial year, calculated in proportion to the result for the review period.

Revenue by business segment MEUR Jan-Mar/ 2007 Jan-Mar/ 2006 Change, % Jan-Dec/ 2006 Building Systems 367.7 325.6 13 1,415.1 Construction Services 369.2 350.8 5 1,452.2 Industrial and Network Services 110.7 107.7 3 476.9 Other items -14.1 -15.3 -8 -59.8 YIT Group, total 833.5 768.8 8 3,284.4

Breakdown of revenue Jan-Mar/2007 (Jan-Mar/2006) Finland 55% MEUR 461.6 (441.9) Growth 4% Lithuania, Latvia, Estonia 6% MEUR 47.6 (35.1) Growth 36% Russia 6% MEUR 48.1 (50.3) Change -4% Sweden, Norway, Denmark 33% MEUR 272.7 (240.4) Growth 13% Total revenue MEUR 833.5 (768.8)

Business mix development % of revenue Jan-Dec/2006 Jan-Mar/2007 Increase Consumer services 24% 26% Services offered directly to end-users Increase Long-term service agreements 28% 28% Repeated service deliveries based on longer term agreements Increase Project development ab. 9% 9% Comprehensive deliveries where we take part during the whole life cycle starting from developing the idea for the project Contracting ab. 39% 37% Keep Services delivered based on project-specific competition

Construction Services Industrial and Network Services Operating profit by business segment MEUR 1) 3) 2) Building Systems Construction Services Industrial and Network Services Other items Jan-Mar/06 Jan-Mar/07 Jan-Dec/06 Total operating profit Jan-Mar/2007 MEUR 61.2 Jan-Mar/2006 MEUR 53.7 Jan-Dec/2006 MEUR 258.8 1) Provisions for certain ended contractual obligations were released in the Q4/2006 period. This had a positive impact of EUR 7.2 million on operating profit. 2) Includes the final expense of EUR 1.0 million of personnel expenses in Q1/ 2007 as a result of the codetermination negotiations carried out in 2006. 3) Includes EUR 5.1 million of personnel expenses in Q3/2006 as a result of the codetermination negotiations carried out in 2006.

Building Systems Operating profit by quarter Operating profit, MEUR Operating profit margin,% 2) 2) 1) 1) 2004 2005 2006 1-12 2004 2005 2006 1-12 2007 2007 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 Q3/2004. 2) Building Systems released provisions for certain ended contractual obligations in the Q4/2006 period. This had a positive impact of EUR 7.2 million on operating profit.

Construction Services Operating profit by quarter Operating profit, MEUR Operating profit margin,% 2004 2005 2006 1-12 2004 2005 2006 1-12 2007 2007

Industrial and Network Services Operating profit by quarter Operating profit, MEUR Operating profit margin,% 2) 2) 1) 1) 2004 2005 2006 1-12 2004 2005 2006 1-12 2007 2007 1) Includes EUR 5.1 million of personnel expenses in Q3/2006 as a result of the codetermination negotiations carried out in 2006. 2) Includes the final expense of EUR 1.0 million of personnel expenses in Q1/ 2007 as a result of the codetermination negotiations carried out in 2006.

Earnings per share per quarter EUR Q1/ 2004 Q3/ 2004 Q2/ 2004 Q4/ 2004 1-12/ 2004 Q1/ 2005 Q2/ 2005 Q3/ 2005 Q4/ 2005 1-12/ 2005 Q1/ 2006 Q2/ 2006 Q3/ 2006 Q4/ 2006 1-12/ 2006 Q1/ 2007 The doubling amount of shares which came into effect on March 24, 2006 (split) has been taken into account.

Return on investment 1994 - 3/2007 % FAS 1994 - 2004 2005 2006 3/2006 3/2007 FAS 1994 - 2004 IFRS 2004 - 3/2007

YIT Group invested capital 26 April, 2007 YIT Group invested capital Dec/2005 Dec/2006 Mar/2007 Russia 26% MEUR 314 Russia 11% MEUR 100 Russia 23% MEUR 279 Other YIT Group 89% MEUR 799 Other YIT Group 77% MEUR 928 Other YIT Group 74% MEUR 898 Total Dec/2005 MEUR 899 Total Mar/2007 MEUR 1,212 Total Dec/2006 MEUR 1,207 Invested capital= balance sheet total - non interest-bearing liabilities YIT Corporation

Net debt and gearing by quarter Net interest-bearing debt, MEUR Gearing ratio, %

Order backlog at end of period MEUR 2,995.4 2,802.3 2,246.2 2,151.3 1,909.4 1,999.2 2,007.2 1,823.4 1,881.4 1,878.8 1,722.2 1,708.2 1,585.2

Order backlog by business segment MEUR Mar/2007 Mar/2006 Change, % Dec/2006 Building Systems 670.3 517.6 30 601.7 Construction Services 2,137.9 1,296.5 65 2,053.5 Industrial and Network Services 228.8 219.5 4 184.0 Other items -41.6 -26.4 58 -36.9 YIT Group, total 2,995.4 2,007.2 49 2,802.3

Personnel at end of period

Market and Future Outlook 26 April, 2007 Market and Future Outlook YIT Corporation

Market outlook 26 April, 2007 The boom in the Nordic countries peaked last year, but will continue during the upcoming years, with growth outpacing the euro zone by about one percentage point. Russia and Norway still benefit from the high prices of oil. The rate of growth in the Baltic countries is still about three times and in Russia double compared to the Nordic countries. Euro interest rates are seeing moderate growth. The positive earnings trend and the improvement in the employment situation strengthens household confidence in all of YIT’s business territories. The record-high population shift in Finland is continuing, maintaining stable need for the construction of new housing and increasing renovation works of old housing. Growth in the construction of business premises outpaces that of housing production. Huge need for apartments in the large cities of Russia enables the expansion of residential production over the long term. Growth in exports and industrial output increases the need for industrial investments and maintenance in all the Nordic countries. YIT Corporation

Housing market development in Russia Household income is increasing Huge need for new apartments In 2006 apartment price increases were exceptionally high in some large cities Mortgage loan market started gradually to function Residential production supports the local development and the welfare targets set by society

Number of start-ups in YIT’s housing production in Finland No 3,169 3,278 3,321 3,108 2,944 3,004 2,717 444 254

YIT’s residential production Russia Nr 1-12/ 04 1-12/ 05 1-12/ 06 1-3/ 06 1-3/ 07 12/ 04 12/ 05 3/ 06 12/ 06 3/ 07

YIT’s residential production Lithuania, Latvia, Estonia Nr 1-12/ 04 1-12/ 05 1-12/ 06 1-3/ 06 1-3/ 07 12/ 04 12/ 05 3/ 06 12/ 06 3/ 07

Outlook for 2007 in residential construction 26 April, 2007 Outlook for 2007 in residential construction YIT estimates its market-financed residential start-ups: in Finland about 2,700 (start-ups in 2006: 2,818) in Russia about 4,500 (3,699) in the Baltic countries about 900 (887) YIT Corporation

Outlook for 2007 We estimate that revenue and operating profit (EBIT) 26 April, 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

More information on our web site www.yitgroup.com Sakari Toikkanen Executive Vice President tel. +358 20 433 2336 e-mail: sakari.toikkanen@yit.fi Petra Thorén Vice President, Investor Relations tel. +358 20 433 2635 mobile +358 40 764 5462 e-mail: petra.thoren@yit.fi

26 April, 2007 Appendices YIT Share YIT Corporation

Principal shareholders March 30, 2007 26 April, 2007 Principal shareholders March 30, 2007 Owners Shares % 1 Suomi Mutual Life Assurance Company 8,571,180 6.76 2 Varma Mutual Pension Ins. Company 6,949,208 5.48 3 Sampo Life Insurance Company Ltd 6,400,000 5.05 4 Ilmarinen Mutual Pension Ins. Company 3,632,923 2.87 5 Tapiola Group 2,400,680 1.89 6 Etera Mutual Pension Ins. Company 1,853,000 1.46 7 Odin Norden 1,448,866 1.14 8 Brotherus Ilkka 1,224,740 0.97 9 State Pension Fund 1,150,000 0.91 10 Kaleva Mutual Insurance Company 875,000 0.69 Others 31,745,730 25.04 Nominee registered shares total 60,525,745 47.74 Total 126,777,072 100.00 Total number of shareholders 13,635. Share capital EUR 146,210,995.92 YIT Corporation

26 April, 2007 Nominee-registered shareholders + other international ownership as percentage of equity 3/2007: 50.3 % 2002 2003 2004 2005 2006 2007 YIT Corporation

Number of shareholders at end of period 26 April, 2007 Number of shareholders at 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 Corporation

26 April, 2007 Appendices Market Outlook YIT Corporation

Migration between municipalities in Finland persons Mar/2007: 56,473 Mar/2006: 54,938 Source: Statistics Finland, April 19, 2007

Housing loans and interest rates in Finland MEUR % Source: Bank of Finland, March 30, 2007

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, 2007

Households’ intentions to acquire an owner-occupied flat during the next 12 months % of households Source: Statistics Finland, March 27, 2007

Nominal prices of apartments Apartment prices By quarter Nominal prices of apartments Nominal prices of old apartments in high-rise buildings in Finland Real prices (deflated by wage level index) Source: Statistics Finland

Household debt as ratio of GDP in 2004 26 April, 2007 YIT Corporation

Debt of Finnish households compared to their disposable income 26 April, 2007 Housing loans All loans Source: Statistics Finland, Bank of Finland and OKO Bank YIT Corporation

Interim Report Jan-Mar/2007 26 April, 2007 Appendices Interim Report Jan-Mar/2007 YIT Corporation

Key figures Mar/2007 Mar/2006 Change, % Dec/2006 26 April, 2007 Mar/2007 Mar/2006 Change, % Dec/2006 Earnings per share, EUR *) 0.31 0.29 7 1.36 Diluted earnings per share, EUR *) 1.35 Equity per share, EUR *) 4.95 4.23 17 5.29 Share price at end of period, EUR *) 25.80 22.38 15 20.95 Market capitalization at end of period, MEUR 3,270.8 2,792.9 2,656.0 Net interest-bearing debt at end of period, MEUR 540.9 334.2 62 506.5 Return on investment, % 1) 25.4 28.1 - 24.8 Equity ratio, % 31.8 33.5 34.5 Gearing ratio, % 85.6 62.7 75.1 Gross capital expenditures, MEUR 15.8 9.1 74 50.4 Order backlog at end of period, MEUR 2) 2,995.4 2,007.2 49 2,802.3 - of which order backlog outside Finland 1,609.0 836.7 92 1,490.0 Average personnel 22,444 21,131 6 21,846 Last 12 months. 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

Consolidated balance sheet MEUR ASSETS Mar/2007 Mar/2006 Change, % Dec/2006 Non-current assets Tangible assets 95.5 80.2 19 91.8 Goodwill 248.8 - Other intangible assets 17.3 12.9 34 15.6 Shares in associated companies 3.0 2.0 50 2.9 Other investments 3.4 3.1 10 Receivables 14.4 10.5 37 13.4 Deferred tax receivables 23.1 22.2 4 21.1 Current assets Inventories 967.0 717.4 35 1,006.4 Trade and other receivables 744.0 592.3 26 688.9 Cash and cash equivalents 39.4 32.6 21 25.9 Total assets 2,155.9 1,722.0 25 2,117.8

Consolidated balance sheet MEUR EQUITY AND LIABILITIES Mar/2007 Mar/2006 Change, % Dec/2006 Equity attributable to equity holders of the company Share capital 146.2 62.4 *) 63.4 Other equity 481.4 465.7 3 607.1 Minority interests 4.4 5.0 -12 3.9 Total equity 632.0 533.1 19 674.4 Non-current liabilities Deferred tax liabilities 57.1 37.9 51 52.5 Pension liabilities 10.9 - 11.6 Provisions 34.2 30.0 14 32.2 Interest-bearing liabilities 374.4 170.8 275.8 Other liabilities 10.0 8.5 18 8.4 Current liabilities Trade and other payables 814.2 719.0 13 788.0 17.2 15.8 9 18.3 Interest-bearing current liabilities 205.9 196.0 5 256.6 Total equity and liabilities 2,155.9 1,722.0 25 2,117.8 *) Change over 100%

Revenue and operating profit by quarter 2004–Q1/2007 Revenue, MEUR Operating profit, MEUR

Key figures by business segments Building Systems Q1/2007 Q1/2006 Growth Revenue, MEUR 367.7 325.6 13% Operating profit, MEUR Operating profit margin 18.8 5.1% 11.7 3.6% 61% - Order backlog 670.3 517.6 30% Construction Services Q1/2007 Q1/2006 Growth Revenue, MEUR 369.2 350.8 5% Operating profit, MEUR Operating profit margin 41.2 11.2% 40.7 11.6% 1% - Order backlog 2,137.9 1,296.5 65% Industrial and Network Services Q1/2007 Q12006 Growth Revenue, MEUR 110.7 107.7 3% Operating profit, MEUR Operating profit margin 5.0 4.5% 5.3 4.9% -6% - Order backlog 228.8 219.5 4%

Operating profit by business segment MEUR Jan-Mar/ 2007 Jan-Mar/ 2006 Change, % Jan-Dec/ 2006 Building Systems 18.8 11.7 61 87.6 Construction Services 41.2 40.7 1 170.8 Industrial and Network Services 5.0 5.3 -6 18.0 Other items -3.8 -4.0 -5 -17.6 YIT Group, total 62.1 53.7 14 258.8 1) 3) 2) 1) Building Systems released provisions for certain ended contractual obligations in the Q4/2006 period. This had a positive impact of EUR 7.2 million on operating profit. 2) Includes the final expense of EUR 1.0 million of personnel expenses in Q1/ 2007 as a result of the codetermination negotiations carried out in 2006. 3) Includes EUR 5.1 million of personnel expenses in Q3/2006 as a result of the codetermination negotiations carried out in 2006.

Expanding maintenance services Net sales of maintenance and upkeep services and their share of YIT Group’s net sales MEUR 37% 38% 37% 33% 27% 24% 24% 22% 35% 36% 20% IFRS 2004 IFRS 2005 IFRS 2006 IFRS 1-3/06 IFRS 1-3/07 FAS 1999 - 2004

Maintenance and upkeep services by business segment Q1/07 (Q1/06) Building Systems MEUR 227 (201) 62% of revenue (62%) Other items MEUR -6 (-8) Industrial and Network Services MEUR 64 (64) 57% of revenue (60%) Construction Services MEUR 15 (12) 4% of revenue (4%) YIT Group total MEUR 300 (269) 36% of revenue (35%)

Building Systems Revenue and order backlog by quarter 2004 - Q1/2007 Revenue, MEUR Order backlog, MEUR 1,321 1,398 1,415 2004 2005 2006 1-12 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.

Construction Services Revenue and order backlog by quarter 2004 - Q1/2007 Revenue, MEUR Order backlog, MEUR 1,147 1,298 1,452 2004 2005 2006 1-12 2007

Industrial and Network Services Revenue and order backlog by quarter 2004 - Q1/2007 Revenue, MEUR Order backlog, MEUR 359 2004 2005 2006 1-12 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.

Building Systems Breakdown of revenue Q1/07 (Q1/06) YIT Sverige AB Sweden 35% MEUR 130 (122) Baltic countries and Russia 3% MEUR 13 (9) YIT A/S Denmark 10% MEUR 36 (33) YIT Kiinteistötekniikka Oy Finland 24% MEUR 87 (80) YIT Building Systems AS Norway 28% MEUR 102 (81) Revenue Q1/07 MEUR 368 (326)

Construction Services Breakdown of revenue Q1/07 (Q1/06) Finland 77% MEUR 285 (274) Lithuania, Latvia, Estonia 10% MEUR 38 (29) Russia 12% MEUR 45 (46) Revenue Q1/07 MEUR 369 (351)

Industrial and Network Services Breakdown of revenue Q1/07 (Q1/06) Finland 93% MEUR 103 (102) Other countries 7% MEUR 7 (6) Revenue Q1/07 MEUR 111 (108)

Total order backlog Mar/07 Order backlog by business segment Mar/07 (Mar/06) Building Systems 22% MEUR 670.3 (517.6) Other items -1% MEUR -41.6 (-26.4) Industrial and Network Services 8% MEUR 228.8 (219.5) Construction Services 71% MEUR 2,137.9 (1,296.5) Total order backlog Mar/07 MEUR 2,995.4 (2,007.2)

Personnel by business segment Mar/2007 (Mar/2006) Building Systems 52% 1, 569 (11,011) Group services 1% 328 (311) Industrial and Network Services 21% 4,787 (4,700) Construction Services 26% 5,734 (5,118) Total personnel 22,418 (21,140)

Personnel by country Mar/2007 (Mar/2006) Finland 51% 11,536 (11,168) Russia 6% 1,355 (938) Lithuania, Latvia, Estonia 7% 1,662 (1,448) Denmark 6% 1,259 (1,147) Norway 12% 2,660 (2,477) Sweden 18% 3,946 (3,962) Total personnel 22,418 (21,140)

Gross capital expenditure 1999–Q1/2007 MEUR % of revenue Major acquisitions: YIT Calor (2001), YIT Primatel (2002) and YIT Building Systems (2003).

Strategic Target Levels 26 April, 2007 Appendices Strategic Target Levels and their Development YIT Corporation

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

Strategic target level: growth 10% per year on average Revenue 1994 - Q1/2007 MEUR Average annual growth 1994-2006: 17% IFRS 2004 IFRS 2005 IFRS 2006 IFRS Q1/06 IFRS Q1/07 FAS 1994 - 2004 Strategic target level: growth 10% per year on average

Strategic target level: EBIT margin 9% of revenue Operating profit (EBIT) 1994 - Q1/2007 MEUR Average annual growth 1994-2006: 24% IFRS 2004 IFRS 2005 IFRS 2006 IFRS Q1/06 IFRS Q1/07 FAS 1994 - 2004 Strategic target level: EBIT margin 9% of revenue

Strategic target level: 22% Return on investment 1994 - 3/2007 % 2004 2005 2006 3/2006 3/2007 FAS 1994 - 2004 IFRS 2004 - 3/2007 Strategic target level: 22%

Strategic target level: 35% Equity ratio 1994 - Q1/2007 % IFRS 2004 IFRS 2005 IFRS 2006 IFRS 3/06 IFRS 3/07 FAS 1994 - 2004 Strategic target level: 35%

Dividend payout 1995-2006 Dividend/share, EUR Dividend/earnings, % 1997 1999 2001 2003 2005 YIT´s dividend policy: 40–60% of the annual profit after taxes and minority interests 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.

Main growth drivers by segments Average annual growth 10% 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 target in Russia 50% 2006-2009 Average annual growth in revenue 10 % Average annual growth target in Russia 50% 2006-2009 Construction Services focusing on development business Growth of housing development Start-up of project development In Building Systems increasing volume in St. Petersburg and Moscow In Industrial Services gaining foothold in St. Petersburg