YIT - Company Announcement

YIT REDUCES ITS WHOLE-YEAR OUTLOOK REGARDING OPERATING PROFIT

Helsinki, 2011-10-12 08:00 CEST (GLOBE NEWSWIRE) -- YIT CORPORATION            
 STOCK EXCHANGE RELEASE                   OCTOBER 12, 2011 AT 9:00 A.M. 


YIT REDUCES ITS WHOLE-YEAR OUTLOOK REGARDING OPERATING PROFIT

YIT Corporation is reducing its outlook regarding the operating profit for
2011. YIT Corporation now estimates that the total operating profit of all its
business segments will increase in 2011 compared to 2010. In its outlook issued
in connection with the financial statements for 2010 (February 4, 2011), YIT
estimated that in 2011, the combined operating profit of the business segments
would grow clearly compared to 2010. 

On September 7, 2011, YIT issued a Stock Exchange Release stating that
excessive levels of ammonia have been found in the indoor air of residential
units built by it in St. Petersburg. The profitability of International
Construction Services is weakened by the costs incurred in rectifying the
ammonia problem which on the basis of the company's current understanding are
estimated to be EUR 10 million, a cost provision of same size for covering
these costs has been made in the third quarter of 2011. YIT is negotiating on
compensation with insurance companies and concrete suppliers. 

The operating profit of Building Services Northern Europe will be lower than
expected. The profitability of the business is being improved with
restructuring operations currently in progress. 

Earlier guidance:

YIT estimated that in 2011, the combined revenue of the business segments will
grow and operating profit will grow clearly compared to 2010. 

New guidance:

YIT estimates that in 2011, the combined revenue and operating profit of the
business segments will grow compared to 2010. 

The profit outlook is based on the segment-level reporting, i.e. recognition of
income based on the percentage of completion. 


YIT Corporation will publish its Interim Report for January-September 2011 on
Friday, October 28, 2011 at 8:00 a.m. Finnish time. 



YIT CORPORATION

Hanna-Maria Heikkinen
Vice President, Investor Relations


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

YIT is a leading European service company in building systems, construction
services and services for industry. We build, develop and maintain quality
living environments in the Nordic countries, Central Europe, Russia and the
Baltic countries. In 2010, YIT's turnover was EUR 3.8 billion. The Group has
approximately 26,000 employees. YIT's shares are listed on NASDAQ OMX Helsinki.
www.yitgroup.com