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    YIT   FI0009800643

YIT OYJ

(YIT)
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Delayed Nasdaq Helsinki  -  11:29 2022-11-28 am EST
2.672 EUR   -0.89%
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YIT Oyj : to renovate two business centres in the Helsinki Metropolitan Area

12/21/2021 | 02:50am EST

YIT Korkeavuorenkatu 32-34

YIT and Sirius Capital Partners have signed a contract for renovation of the properties at Korkeavuorenkatu 32-34 as a project management contract.

The project will combine two old office buildings in Helsinki's city centre into one new high-quality business centre. The old buildings will be raised partly by two and some by three new storeys. In addition to engineering work, the project also includes implementation of complete technical building systems.

The total floor area of the project is approximately 10,000 gross square metres, of which extension work is approximately 2,000 gross square metres. The work has been started with a preliminary contract in September 2021 and the project is due to be completed in March 2023.

"We are very pleased to have found a contractor with the skills to deliver such a high-quality project. YIT has proven to be a solution-oriented and flexible partner," says Patrick Gylling, Managing Director of Sirius Capital Partners.

"The project is very challenging for both its location and technical solutions. Nevertheless, we have great preconditions to succeed, thanks to an amazing team of construction site workers, trustworthy subcontractors, skilled designers, developers and client's representatives. Even if the schedule is rather tight and the amount of work is extensive, both parties have clear and coherent objectives, and also ways to achieve them. Despite the tight schedules, the cooperation has gone well and YIT hopes that the well-started cooperation between both parties, will continue also in possible future projects", says YIT Construction Manager Oscar Grönholm.

The technically very challenging project also has historical value. For example, part of the façade and the stairwell are conserved.

Upon completion, the project will apply for LEED Platinum environmental certification.

For further information, please contact:
Kalevi Stenman, Vice President, Business Premises Renovation, Helsinki Metropolitan area, YIT Finland Ltd., tel. +358 (0)40 7238 393, kalevi.stenman@yit.fi
Anna Leino, Communications Manager, YIT Corporation, tel. +358 (0)50 384 5797, anna.leino@yit.fi

YIT is the largest Finnish and a significant North European development and construction company. With a strong customer focus and clear mission to create better living environments, we develop and build functional homes for sustainable living, future-proof public and commercial buildings and infrastructure for smoother flow of people, businesses and society. We employ 7,400 professionals in ten countries: Finland, Russia, Sweden, Norway, Estonia, Latvia, Lithuania, the Czech Republic, Slovakia and Poland. Our revenue in 2020 was EUR 3.1 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com

Disclaimer

YIT Oyj published this content on 21 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 December 2021 07:49:03 UTC.


ę Publicnow 2021
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Sales 2022 2 449 M 2 546 M 2 546 M
Net income 2022 60,3 M 62,7 M 62,7 M
Net Debt 2022 633 M 658 M 658 M
P/E ratio 2022 9,79x
Yield 2022 6,16%
Capitalization 565 M 587 M 587 M
EV / Sales 2022 0,49x
EV / Sales 2023 0,47x
Nbr of Employees 5 500
Free-Float 57,3%
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Last Close Price 2,70 €
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Markku Olavi Moilanen President & Chief Executive Officer
Tuomas Sakari Mńkipeska Chief Financial Officer
Harri-Pekka Antero Kaukonen Chairman
Eero Juhani Heli÷vaara Vice Chairman
Olli-Petteri Lehtinen Independent Director
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