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    YIT   FI0009800643

YIT OYJ

(YIT)
  Report
Delayed Nasdaq Helsinki  -  11:29 2022-10-04 am EDT
2.850 EUR   +3.71%
10/04Yit Oyj : takes a significant step towards low-carbon construction
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10/04Finland's YIT Strikes Deal to Procure Low-carbon Hollow-core Slabs for Apartment Construction
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10/03YIT OYJ : Ex-dividend day for final dividend
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YIT Oyj : Key figures Q2 / 22

07/28/2022 | 04:28am EDT
YIT Group
Key financial figures
YIT restated financial information for comparative period 2021 reflecting the reporting of sold Russian businesses as discontinued operations. Balance sheet and cash flow statement for comparative periods were not restated.
YIT Group
Full year Per quarter
2018 2019 2020 2021 Q1/2018 Q2/2018 Q3/2018 Q4/2018 Q1/2019 Q2/2019 Q3/2019 Q4/2019 Q1/2020 Q2/2020 Q3/2020 Q4/2020 Q1/2021 Q2/2021 Q3/2021 Q4/2021 Q1/2022 Q2/2022
Result Pro forma Pro forma Pro forma Pro forma Pro forma
Revenue EUR million 3,201 3,392 3,069 2,652 579 759 734 1,128 675 757 808 1,152 708 700 687 975 562 685 535 870 518 545
Operating profit EUR million 105 80 35 56 -21 12 27 86 -12 -23 18 97 -3 0 -16 55 10 21 0 25 22 22
Operating profit margin % 3.3 2.4 1.1 2.1 -3.6 1.6 3.7 7.6 -1.8 -3.0 2.3 8.4 -0.4 0.0 -2.4 5.6 1.7 3.1 0.0 2.8 4.2 4.1
Adjusting items EUR million 27 85 50 29 2 9 4 13 2 51 7 24 12 5 32 1 5 2 11 10 0 2
Adjusted operating profit EUR million 132 165 85 85 -19 20 31 99 -10 29 26 121 8 5 16 56 15 24 11 35 22 25
Adjusted operating profit margin % 4.1 4.9 2.8 3.2 -3.3 2.7 4.3 8.8 -1.4 3.8 3.2 10.5 1.2 0.7 2.4 2.8 2.7 3.4 2.0 4.0 4.2 4.5
Net finance costs EUR million -33 -40 -41 -34 -7 -12 -7 -8 -10 -9 -11 -9 -13 -8 -11 -9 -9 -9 -7 -7 -8 -9
Result before taxes EUR million 71 40 -6 22 -27 -1 21 78 -22 -32 7 88 -16 -8 -27 46 0 12 -8 17 14 14
Result for the period, continuing operations EUR million 49 5 -8 6 -25 -2 20 57 -18 -43 6 59 -10 -9 -26 36 -1 8 -9 7 12 16
Result for the period, including discontinued operations EUR million 33 15 27 4 -52 -4 36 54 -38 -47 27 73 -32 45 -26 39 4 11 -3 -8 -133 -277
Order book, continuing operations
Finland EUR million 3,286 2,955 2,541 3,068 n/a 3,735 3,763 3,286 n/a 3,343 3,347 2,955 2,751 2,907 2,769 2,541 2,699 2,824 2,981 3,068 3,019 3,192
Other regions EUR million 1,000 1,175 988 779 n/a 1,038 1,043 1,000 n/a 1,309 1,417 1,175 1,097 1,167 1,062 988 807 829 904 779 737 875
Order book, total EUR million 4,286 4,131 3,528 3,847 4,401 4,773 4,806 4,286 4,302 4,652 4,764 4,131 3,848 4,074 3,831 3,528 3,506 3,653 3,885 3,847 3,756 4,067
Cash flow
Operating cash flow after investments EUR million n/a 51 336 288 n/a n/a n/a n/a -3 -51 -27 132 -48 247 -9 146 70 109 -23 133 -41 -133
Cash flow from plot investments EUR million n/a -153 -155 -124 n/a n/a n/a n/a -16 -34 -22 -81 -52 -30 -37 -36 -15 -28 -24 -57 -42 -48
Cash flow from investments to associated companies and joint ventures EUR million n/a -34 -34 -29 n/a n/a n/a n/a -9 -2 -10 -9 -4 -3 -2 -13 -9 -6 -5 -8 -4 -12
Interest-bearing debt
Bonds EUR million 353 250 250 199 293 356 354 353 351 350 249 250 250 250 250 250 248 199 199 199 199 199
Commercial papers EUR million 47 141 216 228 268 192 47 75 265 141 216 200 215 216 195
Pension loans EUR million 50 56 52 52 50 50 50
Loans from financial institutions EUR million 130 180 200 150 136 133 133 130 130 130 130 180 200 200 200 200 180 150 150 150 150 150
Housing company loans (related to unsold apartments) EUR million 259 183 163 106 166 206 238 259 211 206 192 183 193 207 194 163 125 106 109 106 117 145
Lease liabilities EUR million n/a 261 235 234 n/a n/a n/a n/a 313 267 259 261 271 262 262 235 206 204 234 234 222 210
Finance lease liabilities EUR million 18 n/a n/a n/a 20 19 18 18 n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a
Other interest-bearing debt EUR million 35 36 50 62 34 35 35 35 36 36 36 36 37 41 44 50 52 54 65 62 41 44
Interest-bearing debt, total EUR million 892 1,051 1,114 751 933 1,068 1,021 892 1,090 1,113 1,131 1,051 1,166 1,160 1,165 1,114 1,005 713 758 751 729 747
Cash and cash equivalents EUR million 264 132 419 389 65 286 205 264 153 114 96 132 161 380 359 419 501 304 292 389 319 248
Interest-bearing receivables EUR million 65 57 66 59 54 48 49 65 69 61 53 57 64 65 66 66 65 56 56 59 73 63
Net interest-bearing debt EUR million 563 862 628 303 814 734 768 563 869 939 983 862 941 715 740 628 439 353 411 303 338 435
Available committed revolving credit facilities EUR million 300 300 300 300 300 300 300 300 300 300 300 300 300 300 300 300 300 300 300 300 300 300
Available overdraft facilities EUR million 72 47 47 32 74 74 74 72 73 73 62 47 47 47 47 47 47 32 32 32 32 32
Capital employed and capital expenditure
Capital employed EUR million 1,601 1,669 1,527 1,142 1,854 1,699 1,755 1,601 1,880 1,651 1,749 1,669 1,643 1,692 1,650 1,527 1,274 1,207 1,240 1,142 1,176 1,286
Gross capital expenditures EUR million n/a n/a 31 32 n/a n/a n/a n/a n/a n/a 6 9 12 3 10 6 2 12 4 13 4 4
of which leased EUR million n/a n/a 26 22 n/a n/a n/a n/a n/a n/a 3 7 10 2 9 5 2 9 3 9 3 3
Key ratios*
Net debt / adjusted EBITDA ratio (rolling 12 months) n/a 3.9 5.0 2.1 n/a n/a n/a n/a 3.0 3.5 3.8 3.9 4.0 3.5 3.8 5.0 3.2 2.2 2.6 2.1 2.8 3.6
Gearing ratio % 54 81 68 30 54 73 76 54 88 99 101 81 105 73 84 68 44 35 40 30 41 51
Equity ratio % 38 34 33 40 38 34 35 38 33 31 31 34 30 33 31 33 37 41 40 40 34 37
Interest cover ratio** % 5.8 3.0 3.5 5.8 5.9 5.0 4.6 3.0 3.5 4.2 4.6 3.5 4.0 4.3
Return on equity % 1.4 2.6 0.8 1.4 2.3 11.7 6.5 2.6 6.5 2.8 5.3 0.8 -14.1 -44.7
Return on capital employed (ROCE, rolling 12 months)** % n/a 9.7 5.2 6.8 n/a n/a n/a n/a 9.4 10.0 9.0 9.7 11.4 9.5 8.9 5.2 6.1 8.0 8.4 6.8 7.6 7.6
*The comparability is affected by the sale of Russian businesses. Comparative periods' figures before Q1 2022 have not been restated.
**The comparability is affected by the sale of Russian businesses. Comparative periods' figures before Q4 2021 have not been restated.
Share
Earnings per share, continuing operations EUR 0.23 0.02 -0.04 0.01 -0.11 -0.02 0.09 0.27 -0.09 -0.20 0.03 0.28 -0.05 -0.04 -0.12 0.17 0.00 0.04 -0.05 0.03 0.05 0.07
Earnings per share EUR 0.19 0.07 0.13 0.00 -0.11 -0.03 0.17 0.25 -0.09 -0.22 0.13 0.35 -0.15 0.22 -0.12 0.19 0.02 0.05 -0.02 -0.04 -0.64 -1.33
Dividend per share EUR 0.27 0.40 0.14 0.16 n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a
Equity per share EUR 5.00 5.1 4.40 4.86 4.9 4.8 4.8 5.0 4.7 4.5 4.7 5.1 4.3 4.7 4.2 4.4 4.8 4.9 4.9 4.9 3.9 4.1
Personnel, continuing operations**
Finland headcount 4,371 4,274 3,936 3,857 4,647 5,012 4,541 4,371 4,226 4,633 4,397 4,274 4,213 4,465 4,123 3,936 3,904 4,275 3,992 3,857 3,731 4,037
CEE countries headcount 1,539 1,555 1,385 1,230 1,437 1,670 1,638 1,539 1,556 1,669 1,685 1,555 1,507 1,514 1,464 1,385 1,364 1,412 1,255 1,230 1,225 1,247
Scandinavia headcount 214 299 310 210 175 194 213 214 242 268 283 299 311 317 320 310 294 245 243 210 206 204
YIT Group, total headcount 6,124 6,128 5,631 5,297 6,259 6,876 6,392 6,124 6,024 6,570 6,365 6,128 6,031 6,296 5,907 5,631 5,562 5,932 5,490 5,297 5,162 5,488
** At the end of reporting period

&G

Housing
Key financial figures
From the first quarter of 2022 onwards, YIT has four reportable segments: Housing, Business Premises, Infrastructure and Property Development. YIT restated financial information for comparative period 2021 reflecting an operating model change, where certain operations and functions were transferred between reportable segments.
Housing
Full year Per quarter
Figures concern continuing operations unless otherwise stated 2018 2019 2020 2021 Q1/2018 Q2/2018 Q3/2018 Q4/2018 Q1/2019 Q2/2019 Q3/2019 Q4/2019 Q1/2020 Q2/2020 Q3/2020 Q4/2020 Q1/2021 Q2/2021 Q3/2021 Q4/2021 Q1/2022 Q2/2022
Result Pro forma Pro forma Pro forma Pro forma Pro forma
Revenue EUR million 1,158 1,240 1,286 1,281 243 317 244 354 256 286 252 446 248 284 249 505 265 380 218 419 232 221
Operating profit EUR million 103 91 108 109 21 30 24 29 9 29 14 39 8 19 16 65 14 39 14 41 21 14
Operating profit margin % 8.9 7.4 8.4 8.5 8.5 9.4 9.8 8.1 3.6 10.2 5.6 8.7 3.3 6.8 6.6 12.8 5.5 10.2 6.5 9.8 8.9 6.4
Adjusted operating profit EUR million 103 91 108 109 21 30 24 29 9 29 14 39 8 19 16 65 14 39 15 41 21 14
Adjusted operating profit margin % 8.9 7.4 8.4 8.5 8.5 9.6 9.8 8.1 3.6 10.2 5.6 8.7 3.3 6.8 6.6 12.8 5.5 10.2 6.9 9.7 8.9 6.4
Order book
Order book EUR million 1,729 1,737 1,437 1,647 1,720 1,774 1,767 1,729 1,607 1,649 1,762 1,737 1,646 1,611 1,604 1,437 1,451 1,518 1,700 1,647 1,648 1,941
Capital employed
Capital employed EUR million 585 697 700 581 n/a 518 572 585 679 709 714 697 721 744 740 700 587 535 578 581 585 670
Personnel**
Personnel headcount 2,632 2,549 2,479 2,496 2,250 2,964 2,812 2,632 2,519 2,702 2,568 2,549 2,562 2,727 2,548 2,479 3,442 3,690 3,342 3,273 3,223 3,426
** At the end of reporting period
Residential construction in Finland
Started for consumers units 2,654 2,359 1,594 2,394 949 814 447 444 510 644 660 545 236 436 438 484 568 656 539 631 382 546
Started for investors units 1,139 2,139 1,528 1,667 144 404 243 348 353 993 247 546 428 363 198 539 267 583 390 427 263 422
Started total units 3,793 4,498 3,122 4,061 1,093 1,218 690 792 863 1,637 907 1,091 664 799 636 1,023 835 1,239 929 1,058 645 968
Completed for consumers units 3,657 2,908 2,579 2,061 835 731 960 1,131 858 1,076 387 587 471 592 470 1,046 436 688 157 780 179 376
Completed for investors units 853 1,374 1,677 1,721 137 185 367 164 222 319 194 639 161 367 607 542 306 596 366 453 259 476
Completed total units 4,510 4,282 4,256 3,782 972 916 1,327 1,295 1,080 1,395 581 1,226 632 959 1,077 1,588 742 1,284 523 1,233 438 852
Sold to consumers units 2,183 2,127 2,116 2,358 694 542 480 467 433 401 584 728 469 354 527 766 665 548 565 580 420 235
Sold to investors units 1,319 2,845 1,528 1,667 182 476 313 348 939 1,080 261 546 428 363 198 539 267 583 390 427 263 422
Sold total units 3,502 4,972 3,644 4,025 876 1,018 793 815 1,372 1,481 845 1,274 897 717 725 1,305 932 1,131 955 1,007 683 657
Under construction for consumers units n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a 3,033 2,877 2,845 2,283 2,390 2,418 2,680 2,626 2,829 3,059
Under construction for investors units n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a 2,517 2,513 2,104 2,101 2,062 2,049 2,073 2,051 2,074 2,020
Under construction at end of period total units 5,302 5,518 4,384 4,677 6,140 6,442 5,920 5,302 5,085 5,327 5,653 5,518 5,550 5,390 4,949 4,384 4,452 4,467 4,753 4,677 4,903 5,079
of which sold % 56 63 60 61 60 59 58 56 60 63 63 63 56 61 58 60 52 63 56 61 67 61
For sale at end of period units 2,777 2,304 1,782 1,816 2,708 2,903 2,800 2,777 2,269 2,425 2,091 2,304 2,071 2,153 2,064 1,782 1,639 1,747 1,702 1,816 1,778 2,145
of which completed units 422 252 402 207 251 267 337 422 216 447 396 252 384 386 413 402 389 297 200 207 154 180
Plot reserve in balance sheet at end of period EUR million 222 311 283 255 288 261 255 222 203 308 301 311 308 306 303 283 273 274 277 255 279 252
Plot reserve at end of period, leased EUR million n/a 179 125 98 n/a n/a n/a n/a 124 117 111 117 126 128 131 125 107 103 107 98 99 91
Plot reserve at end of period*** floor m2 2,226,000 1,911,000 1,991,000 1,630,000 1,810,700 2,390,000 2,346,000 2,226,000 2,218,000 1,839,000 1,880,000 1,911,000 1,912,000 1,916,000 1,924,000 1,991,000 2,044,000 1,973,000 1,612,000 1,630,000 1,431,000 1,456,000
*** Reporting methodology specified in Q3/2020 and therefore the figures are not fully comparable. In addition, from Q3/2021 onwards the figures do not include plots in the development stage and therefore the figures are not fully comparable.
Residential construction in the CEE countries
Started for consumers units 1,453 1,919 663 1,315 449 282 150 572 319 345 590 665 64 90 258 251 190 397 519 209 242 516
Started for investors units 113 0 935 987 113 98 740 97 84 242 577 84 0 195
Started total units 1,566 1,919 1,598 2,302 449 395 150 572 319 345 590 665 162 90 998 348 274 639 1,096 293 242 711
Completed for consumers units 1,427 1,740 1,654 1,181 162 499 123 643 0 307 260 1,173 218 38 404 994 29 137 394 621 158 148
Completed for investors units 279 98 181 0 98
Completed total units 1,427 1,740 1,654 1,460 162 499 123 643 0 307 260 1,173 218 38 404 994 29 137 492 802 158 246
Sold to consumers units 950 1,088 1,024 1,790 172 245 241 292 259 236 249 344 276 148 266 334 523 523 363 381 270 285
Sold to investors units 254 196 481 1,253 0 113 0 141 98 0 0 98 98 10 368 5 100 588 565 209 195
Sold total units 1,204 1,284 1,505 3,043 172 358 241 433 357 236 249 442 374 158 634 339 523 623 951 946 479 480
Under construction at end of period units 2,440 2,912 2,637 3,763 2,771 2,623 2,650 2,440 2,705 2,810 3,100 2,912 2,245 2,769 3,283 2,637 2,905 3,363 3,884 3,763 3,591 4,136
of which sold % 47 37 33 65 53 53 56 47 52 49 44 37 51 44 45 33 40 47 53 65 69 66
For sale at end of period units 1,436 2,085 2,089 1,454 1,411 1,396 1,301 1,436 1,382 1,494 1,852 2,085 1,329 1,796 2,100 2,089 1,859 1,833 1,895 1,454 1,158 1,448
of which completed units 130 264 334 114 113 167 122 130 73 64 111 264 240 235 306 334 122 51 69 114 60 24
Plot reserve in balance sheet at end of period EUR million 112 183 175 176 124 119 119 112 130 174 185 183 178 181 179 175 180 184 174 176 195 207
Plot reserve at end of period, leased EUR million n/a 1 2 1 n/a n/a n/a n/a n/a n/a n/a 1 1 1 2 2 2 1 1 1 1 1
Plot reserve at end of period*** floor m2 474,000 638,000 739,000 733,000 633,900 507,500 348,000 474,000 534,700 674,000 679,000 638,000 638,000 622,000 740,000 739,000 738,000 713,000 753,000 733,000 742,000 689,000
Estimated completions of consumer apartment projects under construction (Q2/2022)
Actual Actual Estimate Actual Actual Estimate Estimate Estimate Estimate
2020 2021 2022 Q1/2022 Q2/2022 Q3/2022 Q4/2022 Q1/2023 Q2/2023
Finland units 2,579 2,061 2,050 179 376 400 1,100 150 400
CEE countries units 1,654 1,181 1,050 158 148 300 450 200 100

&G

Business Premises
Key financial figures
From the first quarter of 2022 onwards, YIT has four reportable segments: Housing, Business Premises, Infrastructure and Property Development. YIT restated financial information for comparative period 2021 reflecting an operating model change, where certain operations and functions were transferred between reportable segments.
Business Premises
Full year Per quarter
Figures concern continuing operations unless otherwise stated 2018 2019 2020 2021 Q1/2018 Q2/2018 Q3/2018 Q4/2018 Q1/2019 Q2/2019 Q3/2019 Q4/2019 Q1/2020 Q2/2020 Q3/2020 Q4/2020 Q1/2021 Q2/2021 Q3/2021 Q4/2021 Q1/2022 Q2/2022
Result Pro forma Pro forma Pro forma Pro forma Pro forma
Revenue EUR million 1,045 1,177 761 787 183 212 211 439 239 247 252 439 209 188 178 185 151 171 199 265 165 221
Operating profit EUR million 67 -7 -46 8 -2 5 9 56 5 5 -7 -10 -12 -14 -19 0 -3 0 8 4 1 9
Operating profit margin % 6.4 -0.6 -6.0 1.1 -1.2 2.3 4.1 12.8 2.1 2.1 -2.7 -2.4 -5.9 -7.5 -10.8 -0.1 -2.1 -0.2 4.0 1.5 0.6 4.2
Adjusted operating profit EUR million 68 -7 -44 11 -2 5 9 56 5 5 -7 -10 -12 -14 -19 1 -1 -1 8 5 1 11
Adjusted operating profit margin % 6.5 -0.6 -5.8 1.4 -1.2 2.5 4.1 12.8 2.1 2.1 -2.7 -2.4 -5.8 -7.5 -10.8 0.6 -0.9 -0.7 4.3 2.0 0.6 5.0
Order book
Order book EUR million 1,327 897 745 919 1,250 1,589 1,631 1,327 1,230 1,286 1,261 897 913 797 787 745 931 968 960 919 859 871
Capital employed
Capital employed EUR million 38 65 -44 -92 n/a 104 125 38 66 77 106 65 91 -5 -21 -44 -24 -39 -33 -92 -65 -75
Personnel**
Personnel headcount 1,177 1,232 958 950 1,709 1,295 1,109 1,177 1,195 1,288 1,273 1,232 1,168 1,080 1,003 958 489 523 508 483 477 532
** At the end of reporting period. Figures before Q1/2021 are not restated to reflect operating model change and therefore are not fully comparable.
Business Premises plot reserve
Plot reserve in balance sheet at end of period EUR million 84 93 86 42 97 97 101 84 79 91 97 93 107 66 58 56 56 55 52 42 35 33
Plot reserve at end of period, leased EUR million n/a 4 4 4 n/a n/a n/a n/a 3 3 3 3 3 3 3 4 3 3 4 4 4 4
Plot reserve at end of period*** floor m2 741,877 821,000 391,000 465,000 720,200 718,900 629,260 741,877 690,000 862,000 842,000 821,000 822,000 409,000 430,000 391,000 252,000 235,000 265,000 276,000 261,000 312,000
*** Reporting methodology specified in Q3/2020 and therefore the figures are not fully comparable. In addition, from Q3/2021 onwards the figures do not include plots in the development stage and therefore the figures are not fully comparable. Figures before Q1/2021 are not restated to reflect operating model change and therefore are not fully comparable.

&G

Infrastructure
Key financial figures
From the first quarter of 2022 onwards, YIT has four reportable segments: Housing, Business Premises, Infrastructure and Property Development. YIT restated financial information for comparative period 2021 reflecting an operating model change, where certain operations and functions were transferred between reportable segments.
Infrastructure
Full year Per quarter
Figures concern continuing operations unless otherwise stated 2018 2019 2020 2021 Q1/2018 Q2/2018 Q3/2018 Q4/2018 Q1/2019 Q2/2019 Q3/2019 Q4/2019 Q1/2020 Q2/2020 Q3/2020 Q4/2020 Q1/2021 Q2/2021 Q3/2021 Q4/2021 Q1/2022 Q2/2022
Result Pro forma Pro forma Pro forma Pro forma Pro forma
Revenue EUR million 717 807 791 544 94 176 215 205 141 193 250 223 173 201 212 205 133 143 128 140 128 132
Operating profit EUR million -7 14 -1 -59 -9 -1 6 -1 -6 3 12 6 -3 4 -2 0 -4 -14 -7 -35 2 2
Operating profit margin % -1.0 1.8 -0.1 -10.8 -9.2 -0.6 2.7 -0.5 -4.0 1.5 4.6 2.6 -1.5 1.9 -1.0 0.2 -2.7 -9.5 -5.6 -24.8 1.6 1.5
Adjusted operating profit EUR million -7 15 13 -39 -9 -1 6 -1 -6 3 12 6 -3 4 10 2 -1 -13 0 -26 2 2
Adjusted operating profit margin % -0.9 1.9 1.6 -7.2 -9.2 -0.5 2.7 -0.3 -4.0 1.5 4.6 2.8 -1.5 1.8 4.6 0.9 -0.6 -8.8 0.2 -18.4 1.3 1.3
Order book
Order book EUR million 861 1,128 829.0 910.0 672 929 952 861 1,036 1,270 1,313 1,128 1,037 1,091 910 829 751 796 795 910 876 891
Capital employed
Capital employed EUR million 77 52 48.0 -19.0 n/a 72 93 77 83 78 90 52 57 74 89 48 49 37 37 -19 -5 22
Personnel**
Personnel headcount 1,969 2,017 1,792 1,431 1,975 2,241 2,119 1,969 1,955 2,202 2,167 2,017 1,966 2,072 1,952 1,792 1,076 1,181 1,126 1,065 1,016 1,087
** At the end of reporting period. Figures before Q1/2021 are not restated to reflect operating model change and therefore are not fully comparable.

&G

Property Development
Key financial figures
From the first quarter of 2022 onwards, YIT has four reportable segments: Housing, Business Premises, Infrastructure and Property Development. YIT restated financial information for comparative period 2021 reflecting an operating model change, where certain operations and functions were transferred between reportable segments.
Property Development
Full year Per quarter
Figures concern continuing operations unless otherwise stated 2018 2019 2020 2021 Q1/2018 Q2/2018 Q3/2018 Q4/2018 Q1/2019 Q2/2019 Q3/2019 Q4/2019 Q1/2020 Q2/2020 Q3/2020 Q4/2020 Q1/2021 Q2/2021 Q3/2021 Q4/2021 Q1/2022 Q2/2022
Result Pro forma Pro forma Pro forma Pro forma Pro forma
Revenue EUR million 0 17 91 0 0 2 2 13 4 9 11 67 21 13
Operating profit EUR million 27 83 5 17 0 -1 0 28 -2 0 3 81 14 1 5 -15 2 1 -8 22 1 1
Adjusted operating profit EUR million 27 83 5 18 0 -1 0 28 -2 0 3 81 14 1 5 -15 2 1 -8 22 1 1
Order book
Order book EUR million n/a n/a 323 371 n/a n/a n/a n/a n/a n/a n/a n/a n/a 286 305 323 373 371 431 371 373 364
Capital employed
Capital employed EUR million 145 254 331 387 n/a 143 149 145 150 150 170 254 256 300 306 331 360 378 353 387 385 384
Personnel**
Personnel headcount 2 4 90 99 2 2 2 2 2 3 3 4 4 89 86 90 103 113 112 107 95 93
** At the end of reporting period. Figures before Q1/2021 are not restated to reflect operating model change and therefore are not fully comparable.
Property Development plot reserve
Plot reserve in balance sheet at end of period EUR million n/a n/a 68 92 n/a n/a n/a n/a n/a n/a n/a n/a n/a 43 70 68 71 73 71 92 97 90
Plot reserve at end of period, leased EUR million n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a
Plot reserve at end of period*** floor m2 n/a n/a 391,000 293,000 n/a n/a n/a n/a n/a n/a n/a n/a n/a 359,000 366,000 391,000 541,000 539,000 440,000 482,000 504,000 535,000
*** Reporting methodology specified in Q3/2020 and therefore the figures are not fully comparable. In addition, from Q3/2021 onwards the figures do not include plots in the development stage and therefore the figures are not fully comparable. Figures before Q1/2021 are not restated to reflect operating model change and therefore are not fully comparable.

&G

Definitions of key figures
Key financial figures
Definition of key figures
Key figure Definition Reason for use
Operating profit Result for the period before taxes and finance expenses and finance income equalling to the subtotal presented in the consolidated income statement. Operating profit shows result generated by operating activities excluding finance and tax related items.
Adjusted operating profit Operating profit excluding adjusting items. Adjusted operating profit is presented in addition to operating profit to reflect the underlying core business performance and to enhance comparability from period to period. Management believes that this alternative performance measure provides meaningful supplemental information by excluding items not part of YIT's core business operations thus improving comparability from period to period.
Adjusting items Adjusting items are material items outside ordinary course of business such as write-down of inventories, impairment of goodwill, fair value changes related to redemption liability of non-controlling interests, integration costs related to merger, transaction costs related to merger, costs, compensations and reimbursements related to court proceedings, write-downs related to non-core businesses, operating profit from businesses to be closed down, gains or losses arising from the divestments of a business or part of a business, costs on the basis of statutory personnel negotiations and adaption measures, and cost impacts of the fair value adjustments from purchase price allocation, such as fair value adjustments on acquired inventory, depreciation of fair value adjustments on acquired property, plant and equipment and amortisation of fair value adjustments on acquired intangible assets relating to business combination accounting under the provisions of IFRS 3, referred to as purchase price allocation ("PPA").
Capital employed Capital employed includes tangible and intangible assets, shares in associates and joint ventures, investments, inventories, trade receivables and other non-interest-bearing receivables total less provisions, advances received related to contract liabilites, other contract liabilities and other non-interest-bearing debts excluding items related to taxes, finance items and profit distribution. Capital employed presents capital employed of segment's operative business.
Interest-bearing debt Non-current borrowings, current borrowings and non-current and current lease liabilities. Interest-bearing debt is a key figure to measure YIT's total debt financing.
Net interest-bearing debt Interest-bearing debt less cash and cash equivalents and interest-bearing receivables. Net interest-bearing debt is an indicator to measure YIT's net debt financing.
Equity ratio, % Equity total / total assets less advances received related to contract liabilities and other contract liabilities. Equity ratio is a key figure to measure the relative proportion of equity used to finance YIT's assets.
Gearing ratio, % Interest-bearing debt less cash and cash equivalents and interest-bearing receivables/ total equity Gearing ratio is one of YIT's key long-term financial targets. It helps to understand how much debt YIT is using to finance its assets relative to the value of its equity.
Return on equity, % Result for the period, 12 months rolling / equity total average. Key figure describes YIT's relative profitability.
Return on capital employed, segments total (ROCE), %, rolling 12 months Rolling 12 months adjusted operating profit/capital employed, segments total average. Return on capital employed, % is one of YIT's key long-term financial targets. Key figure describes segment's relative profitability, in other words, the profit received from capital employed.
Operating cash flow after investments Operating cash flow presented in cash flow statement after investments.
Gross capital expenditures Investments in tangible and intangible assets.
Equity per share Equity total divided by number of outstanding shares at the end of the period.
Net debt / adjusted EBITDA, rolling 12 months Net interest-bearing debt/rolling 12 months adjusted operating profit before depreciations and amortisations added Net debt to adjusted EBITDA gives investor information on ability to service debt.
Interest cover ratio Adjusted operating profit before depreciations and amortisations / Net finance costs - net exchange currency differences, rolling 12 months Interest cover ratio gives investors information on YIT's ability to service debt
Market capitalisation (Number of shares - treasury shares) multiplied by share price on the closing date by share series.
Average share price EUR value of shares traded during period divided by number of shares traded during period.

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YIT Oyj published this content on 28 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2022 08:27:02 UTC.


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Sales 2022 2 488 M 2 479 M 2 479 M
Net income 2022 65,5 M 65,2 M 65,2 M
Net Debt 2022 481 M 479 M 479 M
P/E ratio 2022 9,41x
Yield 2022 5,96%
Capitalization 597 M 595 M 595 M
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Mean consensus HOLD
Number of Analysts 5
Last Close Price 2,85 €
Average target price 3,38 €
Spread / Average Target 18,6%
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Markku Olavi Moilanen President & Chief Executive Officer
Tuomas Sakari Mäkipeska Chief Financial Officer
Harri-Pekka Antero Kaukonen Chairman
Eero Juhani Heliövaara Vice Chairman
Olli-Petteri Lehtinen Independent Director
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