YIT announces new strategy and financial targets for 2025-2029, introduces a new segment structure
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- Stock Exchange Release
- 27.03.2015 14:30 CET
YIT’s comparable figures for 2014 in accordance with the new segment structure
STOCK EXCHANGE RELEASE MARCH 27, 2015 AT 3:30 P.M.
YIT’s comparable figures for 2014 in accordance with the new segment structure
As of January 1, 2015, YIT has three reporting segments instead of the former two segments. The former Housing segment was split into 1) Housing Finland and CEE and 2) Housing Russia. The new segments correspond to the former Housing Finland, the Baltic Countries and Central Eastern Europe and Housing Russia business areas. Business Premises and Infrastructure segment remains unchanged. Reporting under the new segment structure will begin from the January–March 2015 interim report, which will be published on April 28, 2015.
YIT’s comparable figures for 2014 according to the new segment structure based on segment reporting (POC) are presented below. The figures are presented in million euros doing the rounding on each line, which may cause some rounding inaccuracies in column and total sums. The comparable segment figures are unaudited.
| Revenue | ||||||||
| EUR million | 1-3/14 | 4-6/14 | 7-9/14 | 10-12/14 | 1-3/14 | 1-6/14 | 1-9/14 | 1-12/14 |
| Housing Finland and CEE | 172.9 | 187.0 | 177.4 | 189.2 | 172.9 | 359.9 | 537.2 | 726.5 |
| Housing Russia | 108.5 | 116.8 | 119.0 | 129.7 | 108.5 | 225.4 | 344.4 | 474.1 |
| Business Premises and Infrastructure | 121.1 | 147.0 | 188.8 | 142.4 | 121.1 | 268.1 | 456.9 | 599.3 |
| Other items | 0.6 | 0.6 | 0.5 | -0.4 | 0.6 | 1.2 | 1.7 | 1.4 |
| Group, total (POC) | 403.1 | 451.4 | 485.7 | 461.0 | 403.1 | 854.5 | 1,340.2 | 1,801.2 |
| IFRS adjustment | 0.0 | -97.7 | 6.8 | 68.3 | 0.0 | -97.7 | -90.9 | -22.6 |
| Group, total (IFRS) | 403.2 | 353.7 | 492.4 | 529.3 | 403.2 | 756.9 | 1,249.3 | 1,778.6 |
| Operating profit | ||||||||
| EUR million | 1-3/14 | 4-6/14 | 7-9/14 | 10-12/2014 | 1-3/14 | 1-6/14 | 1-9/14 | 1-12/14 |
| Housing Finland and CEE | 16.8 | 16.2 | 13.3 | 11.3 | 16.8 | 32.9 | 46.3 | 57.6 |
| Housing Russia | 12.2 | 13.8 | 11.7 | 12.1 | 12.2 | 25.9 | 37.7 | 49.8 |
| Business Premises and Infrastructure | 0.2 | 6.9 | 10.3 | 2.8 | 0.2 | 7.1 | 17.3 | 20.1 |
| Other items | -2.3 | -2.1 | -1.8 | -7.2 | -2.3 | -4.4 | -6.3 | -13.5 |
| Group, total (POC) | 26.9 | 34.7 | 33.5 | 19.0 | 26.9 | 61.5 | 95.1 | 114.0 |
| IFRS adjustment | -3.7 | -26.3 | -5.4 | 16.3 | -3.7 | -30.0 | -35.4 | -19.2 |
| Group, total (IFRS) | 23.2 | 8.3 | 28.1 | 35.2 | 23.2 | 31.5 | 59.6 | 94.8 |
| Operating profit margin | ||||||||
| % | 1-3/14 | 4-6/14 | 7-9/14 | 10-12/14 | 1-3/14 | 1-6/14 | 1-9/14 | 1-12/14 |
| Housing Finland and CEE | 9.7% | 8.6% | 7.5% | 6.0% | 9.7% | 9.2% | 8.6% | 7.9% |
| Housing Russia | 11.2% | 11.8% | 9.9% | 9.3% | 11.2% | 11.5% | 10.9% | 10.5% |
| Business Premises and Infrastructure | 0.2% | 4.7% | 5.4% | 1.9% | 0.2% | 2.6% | 3.8% | 3.4% |
| Group, total (POC) | 6.7% | 7.7% | 6.9% | 4.1% | 6.7% | 7.2% | 7.1% | 6.3% |
| Group, total (IFRS) | 5.8% | 2.4% | 5.7% | 6.7% | 5.8% | 4.2% | 4.8% | 5.3% |
| Operating profit excluding non-recurring items | ||||||||
| EUR million | 1-3/14 | 4-6/14 | 7-9/14 | 10-12/14 | 1-3/14 | 1-6/14 | 1-9/14 | 1-12/14 |
| Housing Finland and CEE | 16.8 | 16.2 | 13.3 | 17.5 | 16.8 | 32.9 | 46.3 | 63.7 |
| Housing Russia | 12.2 | 13.8 | 11.7 | 18.1 | 12.2 | 25.9 | 37.7 | 55.8 |
| Business Premises and Infrastructure | 0.2 | 6.9 | 10.3 | 3.0 | 0.2 | 7.1 | 17.3 | 20.4 |
| Other items | -2.3 | -2.1 | -1.8 | -7.2 | -2.3 | -4.4 | -6.3 | -13.5 |
| Group, total (POC) | 26.9 | 34.7 | 33.5 | 31.4 | 26.9 | 61.5 | 95.1 | 126.4 |
| IFRS adjustment | -3.7 | -26.3 | -5.4 | 16.3 | -3.7 | -30.0 | -35.4 | -19.2 |
| Group, total (IFRS) | 23.2 | 8.3 | 28.1 | 47.6 | 23.2 | 31.5 | 59.6 | 107.3 |
October-December 2014 operating profit includes non-recurring costs related to restructuring measures and write-downs of assets under the capital release program as follows: Housing Finland and CEE EUR 6.1 million, Housing Russia EUR 6.0 million, Business Premises and Infrastructure EUR 0.2 million.
| Operating profit margin excluding non-recurring items | ||||||||
| % | 1-3/14 | 4-6/14 | 7-9/14 | 10-12/14 | 1-3/14 | 1-6/14 | 1-9/14 | 1-12/14 |
| Housing Finland and CEE | 9.7% | 8.6% | 7.5% | 9.2% | 9.7% | 9.2% | 8.6% | 8.8% |
| Housing Russia | 11.2% | 11.8% | 9.9% | 14.0% | 11.2% | 11.5% | 10.9% | 11.8% |
| Business Premises and Infrastructure | 0.2% | 4.7% | 5.4% | 2.1% | 0.2% | 2.6% | 3.8% | 3.4% |
| Group, total (POC) | 6.7% | 7.7% | 6.9% | 6.8% | 6.7% | 7.2% | 7.1% | 7.0% |
| Group, total (IFRS) | 5.8% | 2.4% | 5.7% | 9.0% | 5.8% | 4.2% | 4.8% | 6.0% |
| Order backlog | ||||
| EUR million | 3/14 | 6/14 | 9/14 | 12/14 |
| Housing Finland and CEE | 956.7 | 953.2 | 929.8 | 798.5 |
| Housing Russia | 1,070.6 | 1,218.8 | 1,103.8 | 653.5 |
| Business Premises and Infrastructure | 669.4 | 751.9 | 702.3 | 673.9 |
| Other items | 2,696.7 | 2,923.9 | 2,736.0 | 2,125.9 |
| Group, total (POC) | 449.7 | 556.5 | 542.6 | 381.1 |
| IFRS adjustment | 3,146.4 | 3,480.3 | 3,278.5 | 2,507.1 |
| Personnel | ||||
| At the end of the period | 3/14 | 6/14 | 9/14 | 12/14 |
| Housing Finland and CEE | 1,857 | 2,017 | 1,839 | 1,783 |
| Housing Russia | 2,001 | 1,987 | 2,009 | 1,980 |
| Business Premises and Infrastructure | 1,905 | 2,022 | 1,877 | 1,814 |
| Group services | 313 | 332 | 307 | 304 |
| Group, total | 6,076 | 6,358 | 6,032 | 5,881 |
| Assets | ||||
| EUR million | 12/14 | |||
| Housing Finland and CEE | 796.6 | |||
| Housing Russia | 487.9 | |||
| Business Premises and Infrastructure | 376.0 | |||
| Other segments and eliminations | 58.2 | |||
| Unallocated items | 249.5 | |||
| Group, total (POC) | 1,968.3 | |||
| Liabilities | ||||
| EUR million | 12/14 | |||
| Housing Finland and CEE | 216.8 | |||
| Housing Russia | 109.8 | |||
| Business Premises and Infrastructure | 194.2 | |||
| Other segments and eliminations | 6.1 | |||
| Unallocated items | 854.2 | |||
| Group, total (POC) | 1,381.0 |
| Segments’ operative invested capital1) | ||||
| EUR million, POC | 3/14 | 6/14 | 9/14 | 12/14 |
| Housing Finland and CEE | 649.0 | 621.9 | 613.0 | 579.8 |
| Housing Russia2) | 549.2 | 601.6 | 564.0 | 378.1 |
| Business Premises and Infrastructure | 208.8 | 233.2 | 229.3 | 181.9 |
| Segments’ return on operative invested capital, last. 12 months 1) | ||||
| EUR million, POC | 3/14 | 6/14 | 9/14 | 12/14 |
| Housing Finland and CEE | 9.7% | 10.1% | 9.5% | 9.4% |
| Housing Russia | 12.4% | 11.4% | 10.2% | 10.5% |
| Business Premises and Infrastructure | 15.6% | 12.0% | 12.1% | 10.8% |
1)Only operational items are taken into account in calculating the segments’ invested capital.
2)Includes Gorelovo industrial park.
For further information, please contact:
Sanna Kaje, Vice President, Investor Relations, YIT Corporation, +358 50 390 6750, sanna.kaje@yit.fi
YIT CORPORATION
Sanna Kaje
Vice President, Investor Relations
Distribution: NASDAQ OMX, Major 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 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 taking care of our customers, partners and personnel. We have nearly 6,000 employees in seven countries. In 2014, our revenue amounted to around EUR 1.8 billion. Our share is listed on NASDAQ OMX Helsinki. www.yitgroup.com