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    YIT   FI0009800643

YIT OYJ

(YIT)
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Delayed Quote. Delayed Nasdaq Helsinki - 08/04 11:29:47 am
5.15 EUR   -0.10%
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08/02YIT CORPORATION : Managers' transactions - Moilanen
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YIT Oyj : to build a parking hall in Kupittaa, Turku

06/24/2021 | 02:11am EDT

YIT Kupittaan pysäköintilaitos

YIT has signed a contract with Turku Technology Properties Ltd on the construction of a parking hall near the Kupittaa railway station, a few kilometres from the centre of Turku. The total value of the project for YIT is nearly EUR 24 million, and it will be recorded in the order book for the second quarter of the year.

The nearly 30,000-square-metre parking hall will have space for approximately 1,000 cars and 90 bicycles.

Kupittaa is one of the fastest developing areas in Turku, with plenty of business and office space as well as housing and health care services. There are also plans for several new office and residential projects in the area, which will increase the demand for parking spaces. The location of the parking hall in an important urban development area is likely to further increase demand in the future.

There will be parking spaces for both short-term and long-term rental, some of them equipped for the charging of electric vehicles. The parking hall will also be an excellent park-and-ride facility as it will provide direct access to the Kupittaa railway station's platforms via a covered passageway. The planned One Hour Train will increase traffic at the Kupittaa station.

The construction of the parking hall will begin this summer and is estimated to be completed in spring 2023.

For further information, please contact:
Jukka Lämsä, Vice President, Southwest Finland, YIT Finland Ltd, tel. +358 45 634 4300, jukka.lamsa@yit.fi
Tom Ekman, Executive Vice President, Business Premises segment, YIT Corporation, tel. +358 40 7712514, tom.ekman@yit.fi
Heidi Kauppinen, Communications Manager, YIT Corporation, tel. +358 40 5743170, heidi.kauppinen@yit.fi

YIT is the largest Finnish and a significant North European urban developer and construction company. Our goal is to 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 together 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 approximately 7,400 professionals in ten countries: Finland, Russia, Sweden, Norway, Estonia, Latvia, Lithuania, the Czech Republic, Slovakia and Poland. Our revenue in 2020 was approximately EUR 3.1 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy.

Disclaimer

YIT Oyj published this content on 24 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 June 2021 06:10:01 UTC.


ę Publicnow 2021
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Financials
Sales 2021 2 759 M 3 267 M 3 267 M
Net income 2021 71,2 M 84,3 M 84,3 M
Net Debt 2021 567 M 671 M 671 M
P/E ratio 2021 15,6x
Yield 2021 3,41%
Capitalization 1 078 M 1 276 M 1 276 M
EV / Sales 2021 0,60x
EV / Sales 2022 0,55x
Nbr of Employees 7 400
Free-Float 62,0%
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Mean consensus OUTPERFORM
Number of Analysts 5
Last Close Price 5,16 €
Average target price 5,52 €
Spread / Average Target 7,08%
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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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