1. 90 YIT Corporation Interim Report January-March 2002 2002 1912
YIT INSTALLAATIOT OY
YIT CORPORATION
12/2001

2. Consolidated income statement
EUR mill.
Jan-Mar/
2002
2001
change
Jan-Dec/
Net sales
386.4
355.4 9%
1,623.1
Share of international operations
89.1
66.4
34%
330.5
Operating income and expenses
-365.3
-329.8
11%
-1,497.2
Depreciation and write-downs
-3.9
-4.0
-3%
-16.8
Amortization of goodwill on consolidation
-2.4
-2.1
14%
-9.4
Operating profit
14.8
19.5
-24%
99.7
% of net sales
3.8%
5.5% ..
6.1%
Financial income and expenses, net
-2.6
-10.9
Profit before extraordinary items
12.2
16.9
-28%
88.8
Extraordinary income
Extraordinary expenses
Profit before taxes
Profit/loss for the report period
-3,1*)
11.6
61.6 90
2002
1912
*) Taking into account the residual tax of EUR 10.9 million.

3. Consolidated balance sheet
EUR mill.
Mar/2002
Mar/2001
change
Dec/2001
ASSETS
Intangible assets
7.9
8.5
-7%
7.7
Goodwill on consolidation
44.6
51.2
-13%
46.9
Tangible assets
68.6
61.9
11%
69.7
Investments
Own shares
7.2
1.2
500%
6.5
Other investments
6.2
5.6
6.3
Inventories
251.4
261.8
-4%
259.3
Receivables
482.6
437.6
10%
483.0
Marketable securities
11.8
2.0
490%
18.6
Cash and cash equivalents
9.8
17.8
-45%
18.4
Total assets
890.1
847.6 5%
916.4 90
2002
1912

4. Consolidated balance sheet
EUR mill.
Mar/2002
Mar/2001
change
Dec/2001
SHAREHOLDERS’ EQUITY AND LIABILITIES
Share capital
58.8 ..
Other shareholders’ equity
264.2
241.5 9%
291.6
Minority interest
3.3
1.4
136%
3.2
Provisions for liabilities and charges
9.0
9.4
-4%
10.1
Long-term liabilities
140.5
100.9
39%
141.2
Current liabilities
414.3
435.6
-5%
411.5
Total shareholders’ equity and liabilities
890.1
847.6 5%
916.4 90
2002
1912

5. *) Without residual tax of EUR 10.9 mill.
Key figures
Mar/2002
Mar/2001
change
Dec/2001
Earnings/share, EUR
-0.11
0.40 ..
2.14
Earnings/share, EUR *)
0.27
Equity/share, EUR
10.96
10.21 7%
11.92
Average share price, EUR
15.39
13.06
18%
12.66
Share price at end of period, EUR
16.50
12.00
38%
13.50
Net interest-bearing debt, EUR mill.
123.6
154.6
-20%
110.7
Return on investment (*Q2/01-Q1/02)
20.4%*
21.6%
Equity ratio
38.5%
37.4%
40.3%
Gearing ratio
38.7%
51.4%
31.9%
Gross capital expenditures, EUR mill.
4.2
49.3
-91%
75.1
Backlog of orders, EUR mill.
763.5
698.8 9%
735.8
Average personnel
10,554
9,950 6%
10,118
*) Without residual tax of EUR 10.9 mill. 90
2002
1912

6. 90 2002 1912 Net sales by division Building Construction 154.4 134.4
EUR mill.
Jan-Mar/
2002
2001
change
Apr/2001-
Mar/2002
Jan-Dec/
Building Construction
154.4
134.4
15%
612.1
592.1
Property Services
41.5
30.0
38%
198.7
187.2
Infraservices
17.6
26.6
-34%
106.5
115.5
International Operations
36.3
17.9
103%
138.7
120.3
YIT Construction Subgroup
249.8
208.9
20%
1,056.0
1,015.1
YIT Installation Subgroup
144.9
150.0
-3%
622.7
627.8
Other items
-8.3
-3.5
137%
-24.6
-19. 8
YIT Group, total
386.4
355.4 9%
1,654.1
1,623.1 90
2002
1912

7. 90 2002 1912 Net sales by division January – March 2002
YIT Installation
Subgroup
EUR 145 mill. (37%)
Building Construction
EUR 154 mill. (39%)
YIT Construction Subgroup
EUR 250 mill. (63%)
Scandinavia
EUR 48 mill. (11%)
Property Services
EUR 42 mill. (11%)
Capital Investment
Services for Industry
EUR 43 mill. (10%)
Infraservices
EUR 18 mill. (4%)
International Operations
EUR 36 mill. (9%)
Industrial Maintenance
EUR 24 mill. (6%)
Technical Building
Services EUR 38 mill. (10%)
YIT Group, total EUR 386 mill.
share of international operations EUR 89 mill. 90
2002
1912

8. Operating profit by division
EUR mill.
Jan-Mar/
2002
2001
change
Apr/2001-
Mar/2002
Jan-Dec/
Building Construction
12.1
12.2
-1%
49.0
49.1
Property Services
1.5
4.7
-68%
19.5
22.7
Infraservices
0.1
0.5
-80%
3.9
4.3
International Operations
1.0
100%
7.6
7.1
Other items
-2.1
-1.8
17%
-4.1
-3.8
YIT Construction Subgroup
12.6
16.1
-22%
75.9
79.4
YIT Installation Subgroup
4.2
3.2
31%
25.9
24.9
-2.0
0.2 ..
-6.8
-4.6
YIT Group, total
14.8
-24%
95.0
99.7 90
2002
1912

9. Order backlog by division
EUR mill.
Mar/
2002
2001
change
Dec/
Building Construction
256.2
209.4
22%
240.6
Property Services
141.0
143.6
-2%
138.9
Infraservices
71.2
57.9
23%
51.3
International Operations
78.7
47.7
65%
79.0
YIT Construction Subgroup
547.1
458.6
19%
509.8
YIT Installation Subgroup
216.4
240.2
-10%
226.0
YIT Group, total
763.5
698.8 9%
735.8 90
2002
1912

10. EUR million at end of period
Order backlog by quarter
EUR million at end of period 90
2002
1912

11. Target levels for financial indicators
Average annual growth in net sales 10 – 15%
Return on investment 18%
Equity ratio 45%
Dividend payout 30 – 50% of the net profit for the year after taxes and minority interests

12. Net sales and operating profit
1997 – January – March 2002
Net sales (EUR mill.)
Operating profit (EUR mill.)
Target level: Annual growth % 90
2002
1912

13. 90 2002 1912 Net sales by quarter 1999 – QI/2002 EUR mill.
The figures for 1999 and 2000 are pro forma. 90
2002
1912

14. Operating profit by quarter
1999 – QI/2002
EUR mill. 90
2002
1912

15. Return on investment and equity ratio
1997 – March 2002
Return on investment, %
Equity ratio, %
Q2/01-
Q1/02
3/ /02
Target level: 18%
Target level: 45% 90
2002
1912

16. Net interest-bearing debt and
gearing ratio 1997 – March 2002
Net interest-bearing debt (EUR mill.)
Gearing ratio, %
3/ /02
3/ /02 90
2002
1912

17. Principal Shareholders April 30, 2002
No %
1. Tapiola Group 3,728,
2. Suomi Group 2,937,
3. Sampo Group 2,767,
4. Varma-Sampo Mutual Pension Ins.Co 2,136,
5. Pohjola Group 1,633,
6. Ilmarinen Mutual Pension Ins.Co 1,175,
7. Kaleva Mutual Insurance Company ,
8. Local Government Pensions Inst ,
9. YIT Corporation ,
10. LEL Employment Pension Fund ,
Nominee-registered 5,822,
Other shareholders 7,005,
Total ,383,
Total number of shareholders 2,979. Nominal value of the share 2 euros.
Share capital EUR 58,767,370. 90
2002
1912

18. 90 2002 1912 Nominee-registered shareholders at end of
month 1997 – 2002, percentage of equity
+ Other foreign ownership June/
1997
1998
1999
2000
2001
2002 90
2002
1912

19. YIT share and HEX portfolio index, relative development
Source: Kauppalehti Online, April 26, 2002

20. 90 2002 1912 Dividend payout 1997 - 2001 Dividend/share EUR
% of annual profit
YIT’s dividend policy:
30 – 50% of the annual profit after taxes
and minority interests 90
2002
1912

21. Total output by main branches
Vol.index 1985 = 100, season adjusted
Industry
GDP
Services
Construction
Source: Statistics Finland, March 2002 90
2002
1912

22. Migration between municipalities
in Finland
persons
Source: Statistics Finland, Dec./2001 90
2002
1912

23. Number of completed housing units
number E
Source: RT, March 2002 90
2002
1912

24. 90 2002 1912 Withdrawals of housing loans and
average interest rate of new loans
EUR mill. %
Source: Bank of Finland, April 2002 90
2002
1912

25. 90 2002 1912 Consumers’ estimate of their own
households’ and Finland’s economic
situation in 12 months’ time
Saldo (%-share of positive answers -
%-share of negative answers)
Own economy
Finland’s economy
Source: Statistics Finland’s Consumer Survey, April 2002 90
2002
1912

26. Vacancy rate in the Greater Helsinki Area 1990 – March 2002
Source: Catella Property Consultants, March 2002 90
2002
1912

27. TT’s Investment Survey Tangible investments/Statistics Finland
Industry’s investments in Finland
EUR billion
current prices
TT’s Investment Survey
Tangible investments/Statistics Finland
Source: Statistics Finland and TT, Jan./2002 90
2002
1912

28. Number of start-ups in YIT’s
housing production
number
3,169
3,100
2,943
2,944
2,791
2,634
*) budgeted 90
2002
1912

29. for the acquisition of Primatel
YIT’s strategic basis
for the acquisition of Primatel
Seeking growth by entering a future growth area.
Telecommunications networks represent the infrastructure of the future.
Supplementing YIT’s service chain with telecomms expertise.
More extensive service offering to its customers.
Total service for telecommunications customers from planning to construction and maintenance.
Increasing the share of maintenance operations in YIT’s net sales.
Opportunity to increase international operations in neigbouring markets
Mobile networks in Eastern and Northern Europe
Projects and maintenance are part of YIT’s core business. 90
2002
1912

30. Primatel in brief
Finland’s leading provider of construction and maintenance services in the field of data transfer solutions.
The company went into business on July 1, 1999, when Sonera’s construction and maintenance division was transferred under it.
Net sales in 2001: EUR 154 million (2000: EUR 166 million)
Share of Sonera works: 77%
Operating profit in 2001: about EUR 8 million (2000: EUR 15 million)
Operating profit margin: 5% (2000: 9%)
Payroll: 1,753 people on Dec. 31, 2001
A network of business locations in over 100 localities, providing Finland-wide coverage. 90
2002
1912

31. 90 2002 1912 YIT’s Group Structure after the acquisition of Primatel
YIT CORPORATION
Reino Hanhinen
Group Administration
Corporate Services
YIT CONSTRUCTION LTD
Ilpo Jalasjoki
YIT INSTALLATION LTD
Juhani Pitkäkoski
YIT PRIMATEL LTD
Hannu Leinonen
Residential Construction
Building Construction
Property Services
Infraservices
International Operations
Technical Building Services
Industrial Maintenance
Capital Investment Services for Industry
Scandinavia
Fixed Networks
Mobile Networks
Property Networks
Other Business Operations
Net sales in EUR 1,015 mill EUR 628 mill EUR 154 mill.
Personnel Mar/ , , ,750 90
2002
1912

32. 90 YIT’s strategic path 2002 1912 Service provider
Maintainer
content of life-cycle service chain
Developer
Telecommunications
contractor
Contractor
HEPACE contractor
Building contractor
Earthworks contractor
scope of the range of services 90
2002
1912

33. Servicing and maintenance
Strong growth in maintenance services
Properties, infrastructure and industry
Measures
Facility Management
Rapido, Optum 1999
Maintenance of infrastructure
public road maintenance opened to competition
2001
Industrial maintenance
Scandinavian Mill Service
several acquisitions
Calor 2001
Primatel 2002
Servicing and maintenance
business
%of
net sales
EUR mill. 90
2002
1912

34. International operations Opportunities
YIT’s present network of business locations
Russia/Baltic countries
need for mobile networks on the rise
mobile phone density still modest
going abroad with customers
equipment manufacturer partnerships
going local by means of acquisitions
Nordic countries
next-generation mobile networks and their maintenance
expanding the range of services to the existing network
“Telepaatti”
marine cabling
other applications will be examined 90
2002
1912

35. YIT Primatel’s growth opportunities
Technology and the markets are continuing to evolve and grow vigorously.
Constant stream of new technologies: 3G, wlan, ADSL, “4G”.
Constant growth in volume of transferred data.
Market field in flux.
New operators without installation resources on the market.
Old operators are also outsourcing their functions.
Equipment manufacturers are outsourcing their installation operations. Networking with them provides new opportunities.
As an independent player, YIT Primatel is well poised to expand its customer base and volume. 90
2002
1912

36. Framework agreement between Sonera and YIT Primatel
The framework agreement concerns the business between Sonera and YIT Primatel
until the end of 2005, as regards maintenance operations
until the end of 2003, as regards construction services
The purpose is to
secure the companies’ business operations
develop the services provided by the companies 90
2002
1912

37. A new high-quality residential area to Espoonkartano, Espoo
Size of the
area:
570 hectares
24 kilometres
from the
centre of
Helsinki
Motorway to Turku
Ring III 90
2002
1912

38. Esbogård Ab / YIT Cooperation
Agreement on the development and realization of a
570-hectare area
Cooperation with the City of Espoo
A joint working group offers the city the necessary
zoning resources
High-quality single-family and terraced houses
5,000-8,000 residents
The aim is to start construction in 2005
Possibly linked to the Espoo housing fair in 2006 90
2002
1912

39. More information
on our site at