YIT updates its strategic targets for the years 2014–2016

YIT updates its strategic targets for the years 2014–2016

YIT´s Board of Directors has approved the revised strategic targets for the strategy period 2014–2016. The motivation for the change stems from the current market environment, and the main objective is to secure that the cash flow and return on investment targets are achieved. The growth target was revised as follows:

• Revenue growth of  5-10 percent annually on average (previously: more than 10% annually on average)

The other financial targets published June 4, 2013 were kept unchanged:

• Return on investment of 20 percent
• Operating cash flow after investments sufficient for dividend payout and debt reduction
• Equity ratio of 40 percent
• Dividend payout of 40–60 percent of net profit for the period

The target levels are based on figures reported by the company based of percentage of completion.

“Strategy execution has progressed favorably during the autumn. YIT has among other things obtained city plans for new important large area development projects, acquired new significant plots and won the design and implementation tender for the Central Pasila Centre. These achievements support YIT´s growth target. YIT´s business is managed according to market- and economic cycles with specific focus on profitability, improving cash flow and return on investment as well as increasing capital efficiency.“ says President & CEO Kari Kauniskangas.

As confirmed on June 4, 2013 YIT’s strategy is well-managed, profitable growth. This is pursued through the Group’s own-developed projects in all businesses and all current geographical regions. Growth is sought particularly in emerging markets and residential construction. Further focus areas include improving the company’s ability to manage cyclicality, widening financial operating space and accelerating renewal.

For additional information, please contact:

Kari Kauniskangas, President and CEO, YIT Corporation, tel. +358 40 570 1313, kari.kauniskangas@yit.fi

Sanna Kaje, Vice President, Investor Relations, YIT Corporation, tel. +358 50 390 6750, sanna.kaje@yit.fi

YIT CORPORATION

Sanna Kaje

Vice President, Investor Relations 

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

YIT is a construction industry leader. We create better living environments in Finland, Russia, the Baltic countries, the Czech Republic and Slovakia. Over 100 years of experience have secured for us a strong market position: We are the largest housing developer and one of the largest business premises and infrastructure developers in Finland, and the most significant foreign housing and area developer in Russia.  Our vision is to stay one step ahead – while caring for our customers, partners and personnel. We have more than 6,000 employees in seven countries. In 2012, our revenue amounted to approx. EUR 2.0 billion. Our share is listed on Nasdaq OMX Helsinki. www.yitgroup.com