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    YIT   FI0009800643

YIT OYJ

(YIT)
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Delayed Nasdaq Helsinki  -  11:29 2022-08-12 am EDT
3.450 EUR   +1.00%
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YIT begins the construction of the Keilaniemi underground parking facility

06/28/2022 | 05:01am EDT

YIT Corporation Investor News 28 June 2022 at 12:00 p.m.

YIT begins the construction of the Keilaniemenranta underground parking facility as a turnkey project. The total value of the project for YIT is approximately EUR 100 million, and it will be recorded in the order book for the second quarter of 2022. The construction will begin in August, and the project is due to be completed in 2026. The project will be implemented by YIT's Infrastructure segment.

"The implementation of the Keilaniemenranta underground rock parking facility is at the core of both Infrastructure segment's competence and strategy. In this technically demanding project, we will be able to use our top expertise in infrastructure construction in an evolving urban environment," says Pasi Tolppanen, EVP, YIT's Infrastructure segment.

The underground parking facility is a separate property excavated in rock. It will provide approximately 1,600 parking spaces, half of which (800 parking spaces) with electric vehicle charging outlets. The parking facility will have two floors, and its gross floor area is approximately 62,000 gross square metres. The facility will also include a civil defence shelter for approximately 3,300 people.

The Keilaniemi underground parking facility is the first project of Keilaniemen Kiinteistökehitys Strike Ky, a joint venture between HGR Property Partners, Ilmarinen Mutual Pension Insurance Company and YIT.

Underground parking is a part of Keilaniemenranta's wider development. Previously, YIT has implemented the renovation projects of the Accountor Tower and the Keilalampi building and constructed the central square and its pavilions. Jokeri Light Rail's main station will also be built in the area.

Read more: YIT, HGR and Ilmarinen have established a joint venture regarding real estate development activities in Keilaniemi | YITGROUP.COM

For further information:
Tommi Järvenpää, Vice President, Investor Relations, YIT, tel. +358 (0)40 576 0288, tommi.jarvenpaa@yit.fi
Pasi Tolppanen, EVP, Infrastructure segment, YIT, tel. +358 (0)44 743 7536, press@yit.fi

YIT Corporation
 
Tommi Järvenpää
Vice President, Investor Relations
 
Distribution: Nasdaq Helsinki, major media, www.yitgroup.com
 
YIT is the largest Finnish and a significant North European development and construction company. For 110 years, we have been creating better living environments for our customers: 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 5,500 professionals in nine countries: Finland, Sweden, Norway, Estonia, Latvia, Lithuania, the Czech Republic, Slovakia and Poland. Our revenue in 2021 was EUR 2.7 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com

https://news.cision.com/yit-oyj/r/yit-begins-the-construction-of-the-keilaniemi-underground-parking-facility,c3592195

(c) 2022 Cision. All rights reserved., source Press Releases - English

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Sales 2022 2 482 M 2 562 M 2 562 M
Net income 2022 65,0 M 67,2 M 67,2 M
Net Debt 2022 476 M 491 M 491 M
P/E ratio 2022 11,1x
Yield 2022 4,98%
Capitalization 716 M 739 M 739 M
EV / Sales 2022 0,48x
EV / Sales 2023 0,46x
Nbr of Employees 5 500
Free-Float 58,1%
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Markku Olavi Moilanen President & Chief Executive Officer
Tuomas Sakari Mäkipeska Chief Financial Officer
Harri-Pekka Antero Kaukonen Chairman
Tiina Marjukka Tuomela Independent Director
Eero Juhani Heliövaara Vice Chairman
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