YIT Corporation’s Annual General Meeting on March 15, 2016: President and CEO Kari Kauniskangas comments on the first quarter’s development

YIT Corporation will hold its Annual General Meeting today, March 15, 2016 at 10:00 a.m. in Helsinki, Finland. The President and CEO Kari Kauniskangas will present a review of YIT’s Financial Statements for 2015 as well as the outlook for the present year. In addition, President and CEO Kauniskangas will briefly comment on the first quarter’s development.

“The year has started actively for us. The Tripla project in Central Pasila has progressed as planned; we signed the purchase agreement for the land areas in early March, and negotiations with investors are progressing. We have started new self-developed business premises projects and won both business premises and infrastructure contracts during the beginning of the year. These projects support our strong order backlog in the Business Premises and Infrastructure segment.

In Finland, the sales of new residential projects has started well, but the overall volume of consumer sales has remained at the average level of the previous years. The sales of apartments has remained high in the CEE countries. In Russia, apartment sales has remained below the extraordinarily strong level of the first quarter of 2015. A large part of the apartments sold at the start of the year have been sold within new projects that were started in the winter, which means they will have little effect on the revenue and result of the first quarter. We stated already in our guidance for 2016 that we expect our adjusted operating profit to be the lowest in the first quarter,” says Kari Kauniskangas, President and CEO.

The estimates for the first quarter’s consumer sales are: over 300 apartments in Finland (Q1/2015: 271), over 750 apartments in Russia (Q1/2015: 967) and below 200 apartments in the CEE countries (Q1/2015: 192).

The invitation to the Annual General Meeting and the Board of Directors’ proposals to the Annual General Meeting were published in a stock exchange release on February 5, 2016. An amendment to the Board of Directors’ proposal regarding the members of the Board of Directors was published in a stock exchange release on March 3, 2016. The Annual General Meeting material and the presentation of the review of the President and CEO Kari Kauniskangas are available on the YIT website at www.yitgroup.com/agm2016.

YIT CORPORATION

Sanna Kaje
Vice President, Investor Relations and M&A

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

YIT is a construction industry leader that creates sustainable urban environments by constructing housing, business premises, infrastructure and entire areas. We focus on providing a first-class customer experience, high quality and continuous development of our diverse expertise. Our operating area covers Finland, Russia, the Baltic countries, the Czech Republic, Slovakia and Poland. Our vision is to stay one step ahead – while caring for our customers, partners and personnel. We have over 5,300 employees in eight countries. In 2015, our revenue amounted to nearly EUR 1.7 billion. Our share is listed on Nasdaq OMX Helsinki. www.yitgroup.com