YIT - Company Announcement

YIT adjusts its operations in Russia

Helsinki, Finland, 2015-01-26 10:00 CET (GLOBE NEWSWIRE) -- YIT CORPORATION    
         STOCK EXCHANGE RELEASE       JANUARY 26, 2015 AT 11:00 A.M. 



YIT adjusts its operations in Russia

The plunge of the oil price and ruble with their repercussions have increased
the uncertainty of the operating environment in Russia. YIT decreased its
apartment start-ups in Russia significantly during the last quarter of 2014 and
at the same time, completed several large projects. 

Due to the decrease in the production volume, YIT's operations in Russia will
be adjusted and the number of employees is estimated to decrease by
approximately 300. The objective of the reorganisation is to increase
flexibility and to ensure cost-efficiency and competitiveness in the new market
environment. A EUR 3.1 million non-recurring cost will be recorded in the 2014
fourth quarter results related to the restructuring of the Russian operations. 

As for new plot investments and apartment start-ups, the plan is to maintain a
production volume that will enable profitable business and positive cash flow
in all current operating cities. At the same time, the target is to retain good
readiness to increase the production when the operating environment allows it. 

YIT will publish financial information on the development of the Russian
operations in its Financial Statements Bulletin on February 5, 2015. 



For additional information, please contact:

Sanna Kaje, Vice President, Investor Relations, YIT Corporation, tel. +358 50
390 6750, sanna.kaje@yit.fi 
Timo Lehtinen, CFO, YIT Corporation, tel. +358 45 670 0626, timo.lehtinen@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 2013, our revenue amounted to nearly EUR 1.9
billion. Our share is listed on Nasdaq OMX Helsinki. www.yitgroup.com