YIT Group Interim Report 1-9/2008

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Presentation transcript:

YIT Group Interim Report 1-9/2008 CONFIDENTIAL YIT Group Interim Report 1-9/2008 30 June 2018 Austria Czech Republic Denmark Estonia Finland Germany Hungary Latvia Lithuania Norway Poland Romania Russia Sweden Hannu Leinonen President and CEO Event for analysts and investors October 29, 2008 YIT CORPORATION

Contents Interim Report 1-9/2008 CONFIDENTIAL 30 June 2018 Interim Report 1-9/2008 Actions in response to market environment Outlook for 2008 Appendix YIT shareholders YIT CORPORATION

Interim Report 1-9/2008 CONFIDENTIAL 30 June 2018 YIT CORPORATION

January-September Revenue increased, EBIT decreased MEUR 1-3/ 2008 4-6/ 2008 7-9/ 2008 1-9/ 2008 1-9/ 2007 Change 1-12/ 2007 Revenue 1) 927.0 991.2 970.8 2,889.0 2,679.5 8% 3,706.5 Operating profit 2) 78.6 70.5 63.1 212.2 229.1 -7% 337.8 of revenue 8.5% 7.1% 6.5% 7.3% 8.6% - 9.1% Financial income and expenses, net 3) -8.3 -10.0 -6.2 -24.4 -22.0 11% -32.2 Profit before taxes 70.3 60.5 56.9 187.8 207.1 -9% 305.6 Earnings per share, EUR 0.40 0.33 0.29 1.02 1.20 -15% 1.77 1) Operations acquired from Central Europe were transferred to YIT on Aug 1, 2008. In Aug-Sep 2008 revenue in these operations was EUR 58.6 million. Network Services division was divested on Dec 31, 2007. Revenue of Network Services in 2007 was EUR 77 million. 2) Q1/2008 including MEUR +3.5 (final ruling of the Supreme Court). Operating profit 1-12/2007 includes EUR 14.4 million sales gain from the divestment of Network Services division. 3) Q1/2008 including MEUR +2.2 (final ruling of the Supreme Court).

Growth continued - variation between countries Revenue 1-9/2008 (1-9/2007) MEUR 2,889 (2,680) Growth 8% Central Europe 1) 2% MEUR 60 (-) Finland 2) 49% MEUR 1,403 (1,411) Change -1% Baltic countries 5% MEUR 132 (170) Change -22% Scandinavia 33% MEUR 958 (874) Growth 10% Russia 11% MEUR 311 (203) Growth 53% 1) Operations acquired from Central Europe were transferred to YIT on Aug 1, 2008. 2) Revenue in 2007 includes Network Services division, which was divested on Dec 31, 2007.

Growth in Russia on track Average growth 2006-Q3/2008 54% MEUR Average annual revenue growth target in Russia 50% 2006-2009 +49% +53% 323 311 +65% 217 2001 2002 2003 2004 2005 2006 2007 1-9/2008

More than one third of revenue from maintenance services MEUR Percentage of group revenue 37% 1,356 37% 38% 1,222 37% 1,136 35% 1,047 36% 1,013 964 Building Systems 1) Industrial Services 2) Construction Services Finland 3) 1) Operations acquired from Central Europe were transferred to YIT on Aug 1, 2008. 2) Revenue 2004 - 2007 includes Network Services division, which was divested on Dec 31, 2007. 3) Construction services operations in Finland were separated as own segment on Jan 1, 2008

Revenue growth driven by Building Systems and International Construction Services Revenue 1-9/2008 (1-9/2007) MEUR 2,889 (2,680) Growth 8% Other items -3% MEUR -75 (-55) Growth 37% Building Systems 1) 48% MEUR 1,378 (1,170) Growth 18% Industrial Services 2) 11% MEUR 311 (359) Change -14% International Construction Services 14% MEUR 397 (334) Growth 19% Construction Services Finland 30% MEUR 879 (871) Growth 1% 1) Operations acquired from Central Europe were transferred to YIT on Aug 1, 2008. 2) Revenue in 2007 includes Network Services division, which was divested on Dec 31, 2007.

Revenue development by business segment MEUR 22% MEUR 5% -8% -12% Building Systems 1) Industrial Services 2) Construction Services Finland International Construction Services 1) Operations acquired from Central Europe were transferred to YIT on Aug 1, 2008. In Aug-Sep 2008 revenue in these operations was EUR 58.6 million. 2) Revenue in 2007 includes Network Services division, which was divested on Dec 31, 2007.

EBIT growth in Building Systems and Industrial Services EBIT 1-9/2008 (1-9/2007) MEUR 212.2 (229.1) Change -7% Other items -7% MEUR -15.0 (-10.9) Growth 38% Building Systems 1) 45% MEUR 94.6 (71.1) Growth 33% Industrial Services 3) 10% MEUR 21.5 (18.9) Growth 14% Construction Services Finland 2) 44% MEUR 92.9 (104.5) Change -11% International Construction Services 8% MEUR 18.2 (45.5) Change -60% 1) Operations acquired from Central Europe were transferred to YIT on Aug 1, 2008. 2) Q1/2008 including MEUR +3.5 (final ruling of the Supreme Court). 3) EBIT in 2007 includes Network Services division, which was divested on Dec 31, 2007.

EBIT margin development by business segment % % 1) 2) Building Systems Industrial Services Construction Services Finland International Construction Services 1) Q4/2007 including MEUR +14.4 (divestment of Network Services). 2) Q1/2008 including MEUR +3.5 (final ruling of the Supreme Court).

Return on investment declined %

High order backlog Share of Group order backlog +25% Share of Group order backlog 1-9/2008 (1-9/2007) Change Building Systems 27% MEUR 1,046 (741) +41% Construction Services Finland 27% MEUR 1,086 (1,129) -4% International Construction Services 42% MEUR 1,678 (1,134) +48% Industrial Services 6% MEUR 238 (222) +7% Other items -2% MEUR 3,965 3,627 3,670 3,509 1) 3,275 3,173 2,995 2) 3) 9/07 9/08 1) Operations acquired from Central Europe were transferred to YIT on Aug 1, 2008. 2) After review period YIT made decision in Russia to stop construction of about 2,400 residential units that represent about EUR 320 million in order backlog. 3) Order backlog 3/07, 6/07 and 9/07 includes Network Services division, which was divested on Dec 31, 2007.

Nearly 27,000 professionals Personnel 9/2008: 26,688 Change in 12 months: 12% 10,608 -8% Finland 1) 4,516 1% Sweden 3,403 76% Russia 3,283 12% Norway 2,114 --- Germany, Austria, Poland, Czech, Hungary, Romania 2) 1,361 6% Denmark 1,403 -16% Baltic countries 1) About 1,000 employees left YIT in Finland in the beginning of 2008 from Industrial Services segment due to divestment of Network Services division. 2) Operations acquired from Central Europe were transferred to YIT on Aug 1, 2008.

Actions in response to market environment

Business environment in YIT’s operating countries Scandinavia 30% of YIT Construction volumes declining Possibilities in fragmented building systems market Growth in technical maintenance, refurbishment and energy-saving solutions Central Europe 9% of YIT Possibilities in residential development Finland 47% of YIT Growth in civil engineering, building repair and industrial maintenance Russia 8% of YIT Construction volumes and prices decreasing due to financial crisis On longer term strong need for residential construction Baltic countries 6% of YIT Diminished construction demand continues % of Group revenue 2007 pro forma. Operations acquired from Central Europe were transferred to YIT on Aug 1, 2008.

YIT actions Strengthen cash flow Adjust cost structure Residential start-ups decreased in Finland and stopped in Baltics In Russia construction of about 2,400 residential units will be stopped - about EUR 320 million in order backlog No new plot acquisitions - only existing contracts Cut off other investments Adjust cost structure Cut off fixed costs - target EUR 40 million on yearly level by Q3/09 Procurement contracts renegotiated to match with market situation

Decreased residential start-ups Finland Russia Baltics 1) 1) After review period YIT made decision to stop construction of about 2,400 residential units in Russia.

Solid financial position Gearing ratio, % Equity ratio, % 2005 2006 2007 2008 2005 2006 2007 2008

Stable maturity structure CONFIDENTIAL 30 June 2018 Debt portfolio 9/2008 Total EUR 745 million Average interest rate 5.0% Maturity 12/2007 EUR 1,000 Markets 55% Others 1% Insurance companies 6% Loans from credit institutions 20% Sold receivables 1) 18% Excludes sold receivables 1) Developer contracting liabilities YIT CORPORATION

Outlook for 2008 CONFIDENTIAL 30 June 2018 YIT CORPORATION

Outlook for 2008 In January-September, During the last quarter, operating profit increased in Building Systems and Industrial Services, and decreased in Construction Services Finland and International Construction Services compared to 2007. During the last quarter, the operating profit of Building Systems and Industrial Services is estimated to be on the same level as in 2007, excluding the sales gain of EUR 14.4 million from the divestment of the Network Services division. The operating profit of Construction Services Finland and International Construction Services is estimated to decrease clearly during the last quarter compared to the previous year.

Outlook for 2008 CONFIDENTIAL 30 June 2018 YIT estimates that revenue for 2008 will increase, but profit before taxes will decrease clearly compared to the previous year. The profit development in the last quarter faces uncertainty due to the development of consumer confidence and its effect on residential sales in Russia. YIT CORPORATION

More information www.yitgroup.com Sakari Ahdekivi CONFIDENTIAL 30 June 2018 www.yitgroup.com Sakari Ahdekivi Chief Financial Officer tel. +358 20 433 2258 e-mail: sakari.ahdekivi@yit.fi Petra Thorén Senior Vice President Investor Relations tel. +358 20 433 2635 Mob. +358 40 764 5462 e-mail: petra.thoren@yit.fi YIT CORPORATION

Appendix YIT shareholders CONFIDENTIAL 30 June 2018 YIT CORPORATION

Major shareholders Owners, September 30, 2008 Shares % 1 CONFIDENTIAL Major shareholders 30 June 2018 Owners, September 30, 2008 Shares % 1 Suomi Mutual Life Assurance Company 7,071,180 5.56 2 Mandatum Henkivakuutusosakeyhtiö 5,507,004 4.33 3 Varma Mutual Pension Insurance Company 3,549,804 2.79 4 Ilmarinen Mutual Pension Insurance Company 2,474,579 1.95 5 Tapiola Group 1,912,077 1.50 6 Svenska Litteratursällskapet i Finland 1,861,000 1.46 7 Etera Mutual Pension Ins. Company 1,784,400 1.40 8 Brotherus Ilkka 1,424,740 1.12 9 Odin Norden C/O Odin Forvaltning As 1,405,266 1.10 10 State Pension Fund 1,100,000 0.86 Others 38,641,037 30.38 Nominee registered shares total 60,492,335 47.55 - Corbis S.A and Fennogens Investments S.A *) > 6,361,171 > 5% Total 127,223,422 100.00 *) Announcement on Oct 6, 2008 YIT CORPORATION

Ownership of non-Finnish shareholders CONFIDENTIAL Ownership of non-Finnish shareholders 30 June 2018 9/2008: 49.76% % of YIT shares YIT CORPORATION

Number of shareholders CONFIDENTIAL 30 June 2018 YIT CORPORATION