YIT announces new strategy and financial targets for 2025-2029, introduces a new segment structure
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- Stock Exchange Release
- 17.03.2010 08:00 CET
PUBLISHING OF COMPARISON FIGURES COMPLIANT WITH NEW IFRS INTERPRETATION ON MARCH 23
STOCK EXCHANGE RELEASE MARCH 17, 2010 at 9.00 A.M.
PUBLISHING OF COMPARISON FIGURES COMPLIANT WITH NEW IFRS INTERPRETATION ON MARCH 23
YIT will apply the IFRIC 15 Agreements for the Construction of Real Estate IFRS interpretation as of the financial period starting January 1, 2010. The interpretation provides guidance on when to account for revenue from the construction of real estate based on delivery and when the percentage of completion method can be used. The interpretation will change the recognition of YIT Group's development projects in both housing and business premises and thus have an effect on certain Group level figures. The interpretation will not have an effect on business segment figures, as they are accounted using the previous accounting principles also in the future. YIT will publish comparison figures for the financial year 2009 compliant with the new accounting principles on March 23, 2010 at 8 a.m. Finnish time (EEST). The stock exchange release and presentation materials will be published at that time on the company's website at www.yitgroup.com/investors.
News conference and webcast
YIT will arrange a news conference for investors and analysts on March 23, 2010 at 10.00 a.m. Finnish time (EEST) at YIT's head office, Panuntie 11, 00620 Helsinki, Finland. The news conference will be held in English. At the end of the event it is possible to ask questions also in Finnish. The presentation slides are available in English and Finnish.
Alternatively, the news conference can be followed through a live webcast at www.yitgroup.com/webcast. The live webcast starts at 10:00 a.m. (EEST) and a recording will be available at 12:00 a.m.(EEST).
Conference call
The news conference can also be participated through a conference call. Conference call participants are requested to dial in at least five minutes prior to the start of the conference, at 9:55 (EEST) in +44 (0)207 1620 177.
Schedule in different time zones:
-------------------------------------------------------------------------------- | | The publishing | News | Recorded webcast | | | of stock | conference, | available | | | exchange release | conf | | | | | erence call and | | | | | live webcast | | -------------------------------------------------------------------------------- | EEST (Helsinki) | 08.00 | 10.00 | 12.00 | -------------------------------------------------------------------------------- | CEST (Paris, | 07.00 | 09.00 | 11.00 | | Stockholm) | | | | -------------------------------------------------------------------------------- | BST (London) | 06.00 | 08.00 | 10.00 | -------------------------------------------------------------------------------- | US EDT (New York) | 02.00 | 04.00 | 06.00 | --------------------------------------------------------------------------------
For additional information, please contact: Virva Salmivaara, Senior Vice President, Corporate Communications, YIT Corporation, tel. +358 40 830 8091, virva.salmivaara@yit.fi
YIT CORPORATION
Virva Salmivaara Senior Vice President, Corporate Communications
Distribution: NASDAQ OMX, principal media, www.yitgroup.com