2011-03-24 08:00:00 CET
2011-03-24 08:00:04 CET
REGULATED INFORMATION
YIT - Company Announcement
YIT'S COMPARABLE FIGURES FOR 2010 IN ACCORDANCE WITH THE NEW BUSINESS SEGMENT STRUCTURE
Helsinki, 2011-03-24 08:00 CET (GLOBE NEWSWIRE) -- YIT CORPORATION STOCK
EXCHANGE RELEASE MAR 24, 2011 AT 9:00 A.M.
YIT'S COMPARABLE FIGURES FOR 2010 IN ACCORDANCE WITH THE NEW BUSINESS SEGMENT
STRUCTURE
YIT Group's business segment structure was revised as of the beginning of March
2010 with Building and Industrial Services Business segment being divided into
two segments; Building Services Northern Europe and Building Services Central
Europe. As of March 1, 2011, YIT's four business segments are Building Services
Northern Europe, Building Services Central Europe, Construction Services
Finland and International Construction Services.
YIT is changed its business segment structure due to the growth of building
service business operations in Central Europe, their increased share of the
Group's revenue and the significant business development and profitability
potential that these operations offer to YIT. YIT's aims to be the leading
provider of technical system maintenance and a forerunner in energy-saving
services in the Nordic countries and Central Europe. YIT seeks growth by
strengthening its local market position and through geographical expansion to
new countries. The Group's potential new market areas in the area of building
services are the United Kingdom, the Netherlands and Belgium.
Below is presented a summary of YIT's comparable figures for 2010 accordingly
to the new business segment structure.
Revenue, EUR 1-3/10 1-6/10 1-9/10 1-12/10 1-3/10 4-6/10 7-9/10 10-12/1
million 0
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Building 406.8 867.6 1 284.4 1 803.6 406.8 460.8 416.8 519.2
Services
Northern
Europe
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Building 70.4 157.2 291.5 550.2 70.4 86.9 134.2 258.7
Services
Central
Europe
--------------------------------------------------------------------------------
Construction 252.9 528.1 807.8 1 102.0 252.9 275.2 279.7 294.2
Services
Finland
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Internationa 106.9 219.0 330.9 470.6 106.9 112.1 111.9 139.7
l
Construction
Services
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Other items -16.2 -36.8 -55.2 -79.4 -16.2 -20.7 -18.4 -24.2
--------------------------------------------------------------------------------
YIT's 820.8 1,735.1 2,659.4 3,847.0 820.8 914.3 924.2 1,187.6
segments
total
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IFRIC 15 -55.5 -115.1 -209.8 -59.4 -55.5 -59.6 -94.6 150.4
adjustment
--------------------------------------------------------------------------------
YIT Group, 765.3 1,620.0 2,449.6 3,787.6 765.3 854.7 829.6 1,338.0
total
--------------------------------------------------------------------------------
Operating 1-3/10 1-6/10 1-9/10 1-12/1 1-3/10 4-6/10 7-9/10 10-12/
profit, EUR 0 10
million
--------------------------------------------------------------------------------
Building 19.9 44.9 65.2 88.7 19.9 25.1 20.2 23.5
Services
Northern Europe
--------------------------------------------------------------------------------
Building 1.7 4.9 7.5 16.4 1.7 3.1 2.7 8.9
Services
Central Europe
--------------------------------------------------------------------------------
Construction 23.1 49.5 78.7 108.1 23.1 26.4 29.3 29.4
Services Finland
--------------------------------------------------------------------------------
International 4.6 12.2 21.3 34.7 4.6 7.6 9.2 13.4
Construction
Services
--------------------------------------------------------------------------------
Other items -4.8 -9.9 -13.3 -18.8 -4.8 -5.1 -3.4 -5.5
--------------------------------------------------------------------------------
YIT's segments 44.5 101.6 159.4 229.1 44.5 57.1 57.9 69.7
total
--------------------------------------------------------------------------------
IFRIC 15 -10.6 -31.8 -55.7 -9.0 -10.6 -21.2 -24.0 46.7
adjustment
--------------------------------------------------------------------------------
YIT Group, total 33.9 69.8 103.7 220.1 33.9 35.9 33.9 116.4
--------------------------------------------------------------------------------
Operating profit 1-3/10 1-6/10 1-9/10 1-12/1 1-3/10 4-6/10 7-9/10 10-12/
margin, % 0 10
--------------------------------------------------------------------------------
Building 4.9 5.2 5.1 4.9 4.9 5.4 4.8 4.5
Services
Northern Europe
--------------------------------------------------------------------------------
Building 2.4 3.1 2.6 3.0 2.4 3.6 2.0 3.4
Services
Central Europe
--------------------------------------------------------------------------------
Construction 9.1 9.4 9.7 9.8 9.1 9.6 10.5 10.0
Services Finland
--------------------------------------------------------------------------------
International 4.3 5.6 6.4 7.4 4.3 6.8 8.2 9.6
Construction
Services
--------------------------------------------------------------------------------
YIT's segments 5.4 5.9 6.0 6.0 5.4 6.2 6.3 5.9
total
--------------------------------------------------------------------------------
YIT Group, total 4.4 4.3 4.2 5.8 4.4 4.2 4.1 8.7
--------------------------------------------------------------------------------
The operating profit of Building Services was burdened by non-recurring
expenses amounting to EUR 6.3 million associated with acquisitions. Of the
non-recurring items, EUR 1.4 million was booked in the third quarter of the
year in Building Services Northern Europe and EUR 1.9 million in Building
Services Central Europe. EUR 3.0 million of non-recurring expenses were booked
in Building Services Central Europe in the fourth quarter.
Order backlog, EUR million 3/10 6/10 9/10 12/10
-----------------------------------------------------------------------
Building Services Northern Europe 697.9 748.5 743.0 757.4
-----------------------------------------------------------------------
Building Services Central Europe 266.3 276.8 589.1 507.0
-----------------------------------------------------------------------
Construction Services Finland 905.4 1,154.7 1,205.2 1,173.2
-----------------------------------------------------------------------
International Construction Services 1,013.2 946.8 884.8 870.8
-----------------------------------------------------------------------
Other items -45.8 -59.4 -55.2 -58.3
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YIT's segments total 2,837.0 3,067.4 3,366.9 3,250.1
-----------------------------------------------------------------------
IFRIC 15 adjustment 315.5 261.8 360.6 285.7
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YIT Group, total 3,152.5 3,329.2 3,727.5 3,535.7
-----------------------------------------------------------------------
Personnel, at the end of the period 3/10 6/10 9/10 12/10
-------------------------------------------------------------------
Building Services Northern Europe 15,310 15,527 15,845 15,844
-------------------------------------------------------------------
Building Services Central Europe 2,045 1,994 3,849 3,767
-------------------------------------------------------------------
Construction Services Finland 3,014 3,403 3,221 3,209
-------------------------------------------------------------------
International Construction Services 2,498 2,591 2,681 2,656
-------------------------------------------------------------------
Corporate Services 344 362 347 356
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YIT Group, total 23,211 23,877 25,943 25,832
-------------------------------------------------------------------
Assets and liabilities, EUR million Assets total Liabilities total
12/10 12/10
--------------------------------------------------------------------
Building Services Northern Europe 1,053.7 576.1
--------------------------------------------------------------------
Building Services Central Europe 426.8 400.9
--------------------------------------------------------------------
Construction Services Finland 883.8 471.0
--------------------------------------------------------------------
International Construction Services 831.8 855.0
--------------------------------------------------------------------
Other items -292.4 -372.2
--------------------------------------------------------------------
YIT Group, total 2,903.7 1,930.9
--------------------------------------------------------------------
Invested capital, EUR million 12/10
--------------------------------------------
Building Services Northern Europe 421.8
--------------------------------------------
Building Services Central Europe 50.6
--------------------------------------------
Construction Services Finland 328.9
--------------------------------------------
International Construction Services 677.3
--------------------------------------------
YIT Group (IFRIC 15) 1,672.0
--------------------------------------------
Return on investment, %1) 1-12/10
--------------------------------------------
Building Services Northern Europe 21.7
--------------------------------------------
Building Services Central Europe 44.7
--------------------------------------------
Construction Services Finland 34.3
--------------------------------------------
International Construction Services 5.2
--------------------------------------------
YIT Group (IFRIC 15) 14.3
--------------------------------------------
1) The Group's invested capital is the balance sheet total less non-interest
bearing liabilities. In the Segments' invested capital, interest-bearing
financial items have been netted.
YIT has applied the IFRIC 15 Agreements for the Construction of Real Estate
IFRS interpretation from the start of the financial period that begun on
January 1, 2010. Due to the application of the interpretation, Group-level
reporting and segment-level reporting differ. The difference between the
accounting policies is reported as an IFRIC 15 adjustment.
For additional information, please contact:
Hanna-Maria Heikkinen, Vice President, Investor Relations, +358 40 826 2172,
hanna-maria.heikkinen@yit.fi
YIT Corporation
Hanna-Maria Heikkinen
Vice President, Investor Relations
Distribution: NASDAQ OMX, principal media, www.yitgroup.com
YIT is a successful European service company in building systems, construction
services and services for industry. We build, develop and maintain quality
living environments in Nordic countries, Central Europe, Russia and Baltic
countries. In 2010, YIT's revenue amounted to EUR 3.8 billion. The Group
employs nearly 26,000 people. YIT's share is listed on NASDAQ OMX Helsinki.
www.yitgroup.com
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