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    YIT   FI0009800643


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YIT Corporation Began Construction of Three Apartment Buildings in Russia in the Second Quarter of 2021

07/13/2021 | 02:00am EDT

YIT Corporation started the construction of three new apartment buildings in Russiain April-June 2021. The properties are located in St. Petersburg, Yekaterinburg and Tyumen, with a combined value of approximately EUR 36 million. The buildings will consist of more than 600 apartments in total. The residential start-ups are entered in the order book of the second quarter of 2021. In St. Petersburg, YIT started the construction of the Ilona apartment building project. The site will have a total of three buildings with a total of 400 apartments and an underground car park. The building to be completed in the first phase will have nearly 140 apartments. The property is located on Neishlotsky Alley near the historic centre of St. Petersburg in the Petrogradskaya district, close to a wide range of services and the Vyborgskaya metro station. There is a railway station in the vicinity of the site, where trains from the direction of Finland arrive. The first-phase apartments will be completed in the second quarter of 2023. In Yekaterinburg, YIT started the construction of the Rauta apartment building project. The site will have a total of nine residential buildings, three parking facilities and a daycare centre for more than 160 children. The 25-storey building to be completed in the first phase will have more than 270 apartments. The building will be completed in the third quarter of 2023. Rauta is located in the north-western part of Yekaterinburg in the Zeleznodorozhny district, where the project is the fourth housing complex built by YIT. The service infrastructure of the area is highly developed: there are 10 daycare centres, four schools and four health centres, as well as several supermarkets and sports centres. The public transport connections are excellent. In Tyumen, YIT started the construction of a second building in its City Life project in the city centre. The project comprises a total of five 15-25-storey buildings. The second building, which is now under construction, will have more than 200 apartments, which are due to be completed in the second quarter of 2023. The City Life project is located next to another residential project of YIT called City Zen, completed at the end of 2020. Once the City Life project is completed in 2027, these projects will form a residential block of more than 2,000 apartments with an attractive location next to diverse services and in the vicinity of parks and cultural sites, which are highly appreciated by the city residents.

ę S&P Capital IQ 2021
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Sales 2021 2 782 M 3 258 M 3 258 M
Net income 2021 68,5 M 80,2 M 80,2 M
Net Debt 2021 520 M 609 M 609 M
P/E ratio 2021 15,0x
Yield 2021 3,69%
Capitalization 998 M 1 172 M 1 169 M
EV / Sales 2021 0,55x
EV / Sales 2022 0,53x
Nbr of Employees 7 400
Free-Float 62,5%
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Mean consensus HOLD
Number of Analysts 5
Last Close Price 4,77 €
Average target price 5,46 €
Spread / Average Target 14,4%
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Managers and Directors
Markku Olavi Moilanen President & Chief Executive Officer
Ilkka Juhani Salonen Chief Financial Officer
Harri-Pekka Antero Kaukonen Chairman
Juhani Nummi Executive Vice President-Operations Development
Tiina Marjukka Tuomela Independent Director
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