YIT - Company Announcement

YIT lowers its guidance regarding the 2013 revenue and operating profit

Helsinki, Finland, 2013-09-11 14:00 CEST (GLOBE NEWSWIRE) -- YIT CORPORATION   
         STOCK EXCHANGE RELEASE                                         
SEPTEMBER 11, 2013 at 3:00 p.m. 



YIT LOWERS ITS GUIDANCE REGARDING THE 2013 REVENUE AND OPERATING PROFIT



YIT lowers its guidance on the 2013 revenue and operating profit. YIT now
estimates that the revenue and operating profit based on the Group's segment
reporting for 2013 will decrease from the level of 2012, excluding
non-recurring items. In its guidance issued on June 4, 2013, YIT estimated the
revenue and operating profit of the Group's continuing operations based on
segment reporting for 2013 to remain at the level of 2012, excluding
non-recurring items. 



PREVIOUS GUIDANCE: Revenue and operating profit to remain at the previous
year's level, excluding non-recurring items 



NEW GUIDANCE: Revenue and operating profit to decrease from the previous year's
level, excluding non-recurring items 



During the summer, macroeconomic uncertainty has been reflected in the
operations and decision-making of YIT and its customers. In Finland, sales of
apartments has risen to the normal level at the beginning of autumn, but sales
of detached and terraced houses have remained at a low level compared to YIT´s
supply. As a result, the estimate for residential sales in Finland has been
lowered for the rest of the year. 



In Russia, residential sales have remained fairly brisk in all YIT units, but
the more conservative economic forecasts and the increased supply of apartments
in some of YIT's operating cities have not allowed price increases of
apartments as planned. The prices of apartments are expected to remain stable
in all of YIT's market areas during the remainder of the year. 



During the summer and autumn, YIT has successfully implemented its strategy
confirmed in spring. The selection of YIT as the developer of Central Pasila,
together with projects worth a total of one billion euros, offer significant
business volume in Finland starting from 2015. The positive progress in the
zoning of the Smolniy and Novo Orlovski projects in St. Petersburg, Russia,
will allow YIT to start construction in these long-term projects, worth nearly
1.5 billion euros, during this autumn and winter. YIT also targets to launch
its first residential construction project in Tyumen, Russia, during the fall.
In Finnish residential construction, YIT puts additional focus on investor
deals in addition to consumers. YIT will continue to release capital from
slow-moving assets. 



Increasing uncertainty over the general macroeconomic development continues to
impact YIT's business operations and customers. 




YIT CORPORATION


Kari Kauniskangas

President and CEO




For further information, please contact:


Timo Lehtinen, Chief Financial Officer, YIT Corporation, tel. +358 45 670 0626,
timo.lehtinen@yit.fi 

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



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



YIT leads the way in the construction sector by creating more attractive and
sustainable urban environments in Finland, Russia, the Baltic countries, the
Czech Republic and Slovakia. YIT builds housing, business premises and
infrastructure, develops entire areas, and offers residential service concepts
for consumers. YIT has over 100 years of experience and a strong market
position: it is the largest residential construction company in Finland and the
most significant foreign residential construction company in Russia. YIT is
also one of the largest business premises and infrastructure construction
companies in Finland. YIT has more than 6,000 employees in seven countries. In
2012, the company's revenue was approximately EUR 2.0 billion. YIT's shares are
listed on NASDAQ OMX Helsinki. www.yitgroup.com