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    YIT   FI0009800643

YIT OYJ

(YIT)
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5.163 EUR   +2.04%
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YIT Oyj : implements a multi-purpose building in Valkeala as a life cycle project

06/04/2021 | 05:01am EDT

YIT has signed an agreement with the City of Kouvola to implement a multi-purpose building in Valkeala with the life cycle model. 

The area of the building is approximately 10,000 m2, and the value of the contract for YIT is approximately EUR 38 million, which will be recorded in the order book for the second quarter.
 
The new multi-purpose building will house school facilities for basic education and early childhood education, as well as facilities for the local library, youth services, a catering kitchen and the Kymsote family centre. The multi-purpose building will also serve as a versatile leisure and activity centre for residents and associations in evenings and weekends. 

In accordance with the life cycle model, YIT is responsible for the overall planning, construction and maintenance of the multi-purpose building and its yard areas for a 20-year service period at a pre-agreed cost. 

The construction will start next summer with preparatory work. The multi-purpose building and yard area will be completed in the summer of 2024.

For further information, please contact:
Tommi Järvenpää, Vice President, Investor Relations, YIT Corporation, tel. +358 (0)40 576 0288, tommi.jarvenpaa@yit.fi
Tom Ekman, Executive Vice President, Business Premises, YIT Corporation, tel. +358 (0)40 7712514, tom.ekman@yit.fi

YIT CORPORATION
Tommi Järvenpää
Vice President, Investor Relations

Distribution: NASDAQ Helsinki, major media, www.yitgroup.com

YIT is Finland's largest construction company and a significant player in the Northern European construction market. We create more sustainable, functional and attractive cities and living environments. We develop and build apartments, business premises and entire areas. We also specialise in demanding infrastructure construction. We own properties with our partners, which supports the implementation of our significant development projects. We also provide our customers with services that increase the value of properties. We employ about 7,400 professionals in 10 countries: Finland, Russia, Sweden, Norway, Estonia, Latvia, Lithuania, the Czech Republic, Slovakia and Poland. In 2020, our revenue amounted to approximately EUR 3.1 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy.

 

https://news.cision.com/yit-oyj/r/yit-implements-a-multi-purpose-building-in-valkeala-as-a-life-cycle-project,c3360392

https://news.cision.com/yit-oyj/i/yit-valkealan-monitoimitalo,c2921528

(c) 2021 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2021 2 759 M 3 279 M 3 279 M
Net income 2021 71,2 M 84,6 M 84,6 M
Net Debt 2021 567 M 674 M 674 M
P/E ratio 2021 15,3x
Yield 2021 3,48%
Capitalization 1 058 M 1 258 M 1 258 M
EV / Sales 2021 0,59x
EV / Sales 2022 0,55x
Nbr of Employees 7 174
Free-Float 62,0%
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Mean consensus OUTPERFORM
Number of Analysts 5
Last Close Price 5,06 €
Average target price 5,52 €
Spread / Average Target 9,09%
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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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