YIT Oyj — Audit Report / Information 2019

Jul 22, 2019

YIT restates consolidated income statements and segment results for 2018 and Q1 2019 reflecting sale of Nordic paving and mineral aggregates operations

July 22, 2019

Tables

Consolidated income statement

	Restated	Restated	Pro forma, restated	Restated	Pro forma, restated	Restated	Pro forma, restated	Restated	Pro forma, restated
EUR million	1-3/2019	1-12/2018	1-12/2018	1-9/2018	1-9/2018	1-6/2018	1-6/2018	1-3/2018	1-3/2018
Revenue	675.0	3,138.5	3,201.0	2,010.6	2,073.2	1,276.2	1,338.8	516.8	579.3
Other operating
income	7.4	39.7	40.1	14.9	15.3	9.4	9.8	4.3	4.6
Change in
inventories of
finished goods
and in work in
progress	-22.5	35.6	39.7	181.0	185.2	151.1	155.3	56.7	60.9
Production for
own use	0.1	0.3	0.3	0.2	0.2	0.0	0.0	0.0	0.0
Materials and
supplies	-80.8	-632.1	-634.1	-448.7	-453.0	-312.8	-319.7	-109.5	-119.2
External services	-385.3	-1,621.8	-1,668.0	-1,155.8	-1,202.0	-728.1	-774.3	-303.0	-349.2
Personnel
expenses	-97.1	-405.8	-417.8	-294.6	-306.7	-216.1	-228.1	-94.5	-106.5
Other operating
expenses	-93.9	-433.8	-436.7	-268.2	-271.0	-172.8	-175.7	-80.8	-83.6
Share of results
in associated
companies and
joint ventures	-1.9	9.0	9.0	-1.0	-1.0	-0.7	-0.7	-0.2	-0.2
Depreciation,
amortisation and
impairment	-13.1	-30.0	-28.9	-21.9	-21.7	-13.6	-14.1	-5.7	-6.8
Operating profit	-12.1	99.7	104.7	16.6	18.5	-7.4	-8.8	-15.9	-20.6
Adjusted
operating profit	-9.7	140.3	132.0	41.0	32.7	9.6	1.4	-10.6	-19.0
Finance income	2.3	7.7	7.8	5.7	5.8	3.7	3.8	1.6	1.6
Exchange rate
differences (net)	-0.3	-2.1	-2.3	-1.3	-1.5	-0.2	-0.4	0.2	0.0
Finance
expenses	-12.2	-40.3	-38.8	-31.3	-29.8	-23.8	-22.2	-9.7	-8.2
Finance income
and expenses,
total	-10.2	-34.7	-33.3	-26.9	-25.5	-20.3	-18.9	-8.0	-6.6
Result before
taxes	-22.3	65.0	71.4	-10.3	-7.0	-27.6	-27.7	-23.9	-27.2
Income taxes	4.4	-17.9	-22.7	3.0	-1.1	3.6	0.2	4.7	2.0
Result for the
period,
continuing
operations	-17.9	47.1	48.7	-7.3	-8.1	-24.1	-27.5	-19.1	-25.2
Result for the
period,
discontinued
operations	-20.2	-7.9	-15.4	-3.9	-12.4	-19.6	-28.9	-16.6	-26.9
Result for the
period	-38.0	39.2	33.3	-11.2	-20.4	-43.6	-56.5	-35.8	-52.2
Attributable to
equity holders	-38.0	39.2	33.3	-11.2	-20.4	-43.6	-56.5	-35.8	-52.2

of the parent
company
Earnings per
share,
attributable to the
equity holders of
the parent
company
Basic, EUR,
total	-0.18	0.19	0.16	-0.06	-0.10	-0.22	-0.27	-0.20	-0.25
Diluted, EUR,
total	-0.18	0.19	n/a	-0.06	n/a	-0.22	n/a	-0.20	n/a
Basic, EUR,
continuing
operations	-0.09	0.23	0.23	-0.04	-0.04	-0.12	-0.13	-0.11	-0.12
Basic. EUR.
discontinued
operations	-0.10	-0.04	-0.07	-0.02	-0.06	-0.10	-0.14	-0.09	-0.13
Diluted, EUR,
continuing
operations	-0.09	0.23	n/a	-0.04	n/a	-0.12	n/a	-0.11	n/a
Diluted, EUR,
discontinued
operations	-0.10	-0.04	n/a	-0.02	n/a	-0.10	n/a	-0.09	n/a

Unaudited restated pro forma financial information

YIT has previously published unaudited pro forma financial information to illustrate the effects of the merger of YIT and Lemminkäinen to its results of operations and financial position. Following the classification of the Nordic paving and mineral aggregates business as disposal group held for sale in YIT's half-year report 2019 and the application of the IFRS 5 guidance for presenting discontinued operations separately from continuing operations in the income statement, YIT has restated the unaudited pro forma financial information. The unaudited pro forma financial information is restated by separating the profits of the operations planned to be sold separately from continuing operations for the full year and quarterly reporting in 2018 in accordance with IFRS 5 Non‑current Assets Held for Sale and Discontinued Operations. Intra-group revenues and expenses between continuing and discontinued operations are eliminated, except for those revenues and expenses that are considered to continue after the disposal of the discontinued operation. Pro forma adjustments relating to the Nordic paving and mineral aggregates business group held for sale are reclassified in the pro forma income statements to the results from discontinued operations. Pro forma information is presented for illustrative purposes only and is unaudited.

For further information on the basis of presentation of pro forma financial information, refer to the Stock Exchange Release published by YIT on April 4, 2018.

	Restated	Pro	Restated	Pro		Pro
		forma,		forma,		forma,
		restated		restated	Restated	restated
EUR million	10-12/2018	10-12/2018	7-9/2018	7-9/2018	4-6/2018	4-6/2018
Revenue	1,127.8	1,127.8	734.4	734.4	759.4	759.4
Other operating income	24.8	24.8	5.5	5.5	5.1	5.1
Change in inventories of finished goods and in work in
progress	-145.4	-145.4	29.9	29.9	94.4	94.4
Production for own use	0.2	0.2	0.2	0.2	0.0	0.0
Materials and supplies	-183.4	-181.1	-135.9	-133.2	-203.3	-200.6
External services	-466.1	-466.1	-427.7	-427.7	-425.1	-425.1
Personnel expenses	-111.1	-111.1	-78.5	-78.5	-121.6	-121.6
Other operating expenses	-165.6	-165.6	-95.4	-95.4	-92.1	-92.1
Share of results in associated companies and joint
ventures	10.0	10.0	-0.2	-0.2	-0.5	-0.5
Depreciation, amortisation and impairment	-8.1	-7.2	-8.3	-7.6	-7.9	-7.3
Operating profit	83.1	86.2	24.0	27.3	8.5	11.8
Adjusted operating profit	99.3	99.3	31.4	31.4	20.6	20.3
Finance income	2.0	2.0	2.0	2.0	2.2	2.2
Exchange rate differences (net)	-0.8	-0.8	-1.1	-1.1	-0.4	-0.4

Finance expenses	-9.0	-9.0	-7.5	-7.5	-14.1	-14.0
Finance income and expenses, total	-7.8	-7.8	-6.6	-6.6	-12.3	-12.2
Result before taxes	75.3	78.4	17.3	20.7	-3.8	-0.5
Income taxes	-20.9	-21.6	-0.5	-1.2	-1.2	-1.8
Result for the period, continuing operations	54.4	56.8	16.8	19.5	-5.0	-2.3
Result for the period, discontinued operations	-3.9	-3.1	15.6	16.6	-2.9	-2.0
Result for the period	50.4	53.7	32.4	36.0	-7.9	-4.3
Attributable to equity holders of the parent
company	50.4	53.7	32.4	36.0	-7.9	-4.3
Earnings per share, attributable to the equity holders of
the parent company
Basic, EUR, total	0.25	0.26	0.17	0.17	-0.03	-0.02
Diluted, EUR, total	0.25	n/a	0.17	n/a	-0.03	n/a
Basic, EUR, continuing operations	0.27	0.27	0.09	0.09	-0.02	-0.01
Basic, EUR, discontinued operations	-0.02	-0.01	0.08	0.08	-0.01	-0.01
Diluted, EUR, continuing operations	0.27	n/a	0.09	n/a	-0.02	n/a
Diluted, EUR, discontinued operations	-0.02	n/a	0.08	n/a	-0.01	n/a

Segment financial information, continuing operations

Pro forma segment information for continuing operations has been prepared to reflect the company's new financial reporting structure following the decision to sell the Nordic paving and mineral aggregates business, consistently with YIT's management reporting. The segment information presented in the pro forma has been restated to reflect the current structure consisting of five reported segments in YIT's continuing operations excluding discontinued operations. Pro forma segment information for continuing operations is based on historically reported segment information by YIT and Lemminkäinen, respectively, adjusted for the changes in the composition of the segments due to the organisational change. Paving segment is no longer reported separately as the majority of it will be disposed in the sale and the Road maintenance division that was previously part of the Paving segment has been reported as part of the Infrastructure projects segment in the pro forma consistent with internal reporting. Further, the paving business in Russia that YIT announced that it will exit either by closing down or by selling it by the end of 2019, has been reported under Other items.

EUR million	Housing Finland and CEE	Housing Russia	Business premises	Infrastructure projects	Partnership properties	Other items	Group, IFRS
Revenue	256.2	44.4	239.1	141.4		-6.1	675.0
Revenue from external customers	256.2	44.3	238.6	137.2		-1.3	675.0
Revenue Group internal		0.1	0.4	4.2		-4.8
Depreciation, amortisation and impairment	-1.2	-1.8	-0.6	-4.5		-5.0	-13.1
Operating profit	9.3	-4.8	5.0	-5.7	-1.5	-14.4	-12.1
Operating profit margin, %	3.6%	-10.8%	2.1%	-4.0%			-1.8%
Adjusting items						2.4	2.4
Adjusted operating profit	9.3	-4.8	5.0	-5.7	-1.5	-12.0	-9.7
of which the IFRS 16 impact	1.6	0.1	0.1			0.7	2.5
Adjusted operating profit margin, %	3.6%	-10.8%	2.1%	-4.0%			-1.4%

1-3/2019, restated

1-12/2018, restated

EUR million	Housing Finland and CEE	Housing Russia	Business premises	Infrastructure projects	Partnership properties	Other items	Group, IFRS
Revenue	1,143.5	270.2	1,024.7	692.3	0.0	7.7	3,138.5
Revenue from external customers	1,143.1	269.5	1,019.8	661.8	0.0	44.3	3,138.5
Revenue Group internal	0.3	0.8	4.9	30.5		-36.5
Depreciation, amortisation and impairment	-1.2	-0.7	-0.4	-13.6		-14.0	-30.0
Operating profit	103.4	-36.3	67.6	-4.3	26.9	-57.4	99.7
Operating profit margin, %	9.0%	-13.4%	6.6%	-0.6%			3.2%
Adjusting items	0.8	4.5	0.5	0.6		34.1	40.6
Adjusted operating profit	104.1	-31.8	68.1	-3.7	26.9	-23.3	140.3
Adjusted operating profit margin, %	9.1%	-11.8%	6.6%	-0.5%			4.5%

1-12/2018 Pro forma, restated

EUR million	Housing Finland and CEE	Housing Russia	Business premises	Infrastructure projects	Partnership properties	Other items	Group, IFRS
Revenue	1,157.9	274.1	1,045.2	716.8	0.0	7.1	3,201.0
Revenue from external customers	1,157.5	273.3	1,040.0	685.9	0.0	44.2	3,201.0
Revenue Group internal	0.3	0.8	5.2	30.8		-37.1
Depreciation, amortisation and impairment	-1.2	-0.8	-0.4	-14.1		-12.5	-28.9
Operating profit	102.6	-37.3	67.3	-7.2	26.9	-47.5	104.7
Operating profit margin, %	8.9%	-13.6%	6.4%	-1.0%			3.3%
Adjusting items	0.8	4.5	0.5	0.6		20.8	27.2
Adjusted operating profit	103.3	-32.8	67.8	-6.5	26.9	-26.7	132.0
Adjusted operating profit margin, %	8.9%	-12.0%	6.5%	-0.9%			4.1%

1-9/2018, restated

EUR million	Housing Finland and CEE	Housing Russia	Business premises	Infrastructure projects	Partnership properties	Other items	Group, IFRS
Revenue	789.5	143.5	586.0	487.4	0.0	4.2	2,010.6
Revenue from external customers	789.3	143.1	583.4	464.9	0.0	29.9	2,010.6
Revenue Group internal	0.1	0.4	2.6	22.6		-25.7
Depreciation, amortisation and impairment	-0.9	-0.6	-0.3	-10.2		-9.9	-21.9
Operating profit	74.9	-32.5	11.6	-3.2	-1.0	-33.2	16.6
Operating profit margin, %	9.5%	-22.6%	2.0%	-0.7%			0.8%
Adjusting items	0.7	4.5	0.4	0.3		18.6	24.4
Adjusted operating profit Adjusted operating profit	75.6	-28.0	12.0	-3.0	-1.0	-14.6	41.0
margin, %	9.6%	-19.5%	2.1%	-0.6%			2.0%

1-9/2018 Pro forma, restated

EUR million	Housing Finland and CEE	Housing Russia	Business premises	Infrastructure projects	Partnership properties	Other items	Group, IFRS
Revenue	803.9	147.4	606.5	511.9	0.0	3.5	2,073.2
Revenue from external customers	803.7	146.9	603.6	489.0	0.0	29.9	2,073.2
Revenue Group internal	0.1	0.4	2.9	22.9		-26.3
Depreciation, amortisation and
impairment	-0.9	-0.6	-0.3	-10.6		-9.3	-21.7
Operating profit	74.1	-33.4	11.3	-6.1	-1.0	-26.4	18.5
Operating profit margin, %	9.2%	-22.7%	1.9%	-1.2%			0.9%
Adjusting items	0.7	4.5	0.4	0.3		8.3	14.2
Adjusted operating profit	74.8	-28.9	11.7	-5.8	-1.0	-18.0	32.7
Adjusted operating profit margin, %	9.3%	-19.6%	1.9%	-1.1%			1.6%

1-6/2018, restated

EUR million	Housing Finland and CEE	Housing Russia	Business premises	Infrastructure projects	Partnership properties	Other items	Group, IFRS
Revenue	545.2	87.7	374.7	272.2		-3.6	1,276.2
Revenue from external customers	545.2	87.5	373.6	258.7		11.2	1,276.2
Revenue Group internal	0.0	0.2	1.1	13.5		-14.8
Depreciation, amortisation and impairment	-0.6	-0.4	-0.2	-6.4		-6.1	-13.6
Operating profit	51.0	-24.1	2.9	-9.1	-0.8	-27.3	-7.4
Operating profit margin, %	9.4%	-27.5%	0.8%	-3.3%			-0.6%
Adjusting items	0.7	3.9	0.4	0.3		11.8	17.0
Adjusted operating profit	51.7	-20.2	3.3	-8.8	-0.8	-15.5	9.6
Adjusted operating profit margin, %	9.5%	-23.1%	0.9%	-3.2%			0.8%

1-6/2018 Pro forma, restated

EUR million	Housing Finland and CEE	Housing Russia	Business premises	Infrastructure projects	Partnership properties	Other items	Group, IFRS
Revenue	559.6	91.5	395.2	296.7		-4.2	1,338.8
Revenue from external customers	559.6	91.3	393.8	282.9		11.2	1,338.8
Revenue Group internal	0.0	0.2	1.4	13.8		-15.4
Depreciation,amortisation and impairment	-0.6	-0.4	-0.2	-6.8		-6.1	-14.1
Operating profit	50.2	-25.0	2.6	-12.0	-0.8	-23.8	-8.8
Operating profit margin, %	9.0%	-27.3%	0.7%	-4.0%			-0.7%
Adjusting items	0.7	3.9	0.4	0.3		4.9	10.1
Adjusted operating profit	50.9	-21.1	3.0	-11.7	-0.8	-18.9	1.4
Adjusted operating profit margin, %	9.1%	-23.1%	0.8%	-3.9%			0.1%

1-3/2018, restated

EUR million	Housing Finland and CEE	Housing Russia	Business premises	Infrastructure projects	Partnership properties	Other items	Group, IFRS
Revenue	228.5	34.5	162.5	96.5		-5.2	516.8
Revenue from external customers	228.5	34.3	162.1	90.6		1.3	516.8
Revenue Group internal	0.0	0.1	0.4	5.9		-6.4
Depreciation, amortisation and impairment	-0.3	-0.2	-0.1	-3.0		-2.2	-5.7
Operating profit	21.3	-13.1	-1.9	-8.0	-0.2	-14.0	-15.9
Operating profit margin, %	9.3%	-38.0%	-1.2%	-8.3%			-3.1%
Adjusting items		0.2				5.1	5.3
Adjusted operating profit	21.3	-13.3	-1.9	-8.0	-0.2	-8.9	-10.6
Adjusted operating profit margin, %	9.3%	-38.6%	-1.2%	-8.3%			-2.1%

1-3/2018 Pro forma, restated

EUR million	Housing Finland and CEE	Housing Russia	Business premises	Infrastructure projects	Partnership properties	Other items	Group, IFRS
Revenue	242.9	38.3	183.0	121.0		-5.9	579.3
Revenue from external customers	242.9	38.2	182.3	114.8		1.2	579.3
Revenue Group internal	0.0	0.1	0.7	6.2		-7.0
Depreciation, amortisation and impairment	-0.3	-0.2	-0.1	-3.4		-2.9	-6.8
Operating profit	20.5	-14.0	-2.2	-10.9	-0.2	-13.8	-20.6
Operating profit margin,%	8.5%	-36.5%	-1.2%	-9.0%			-3.6%
Adjusting items		0.2				1.5	1.6
Adjusted operating profit	20.5	-13.8	-2.2	-10.9	-0.2	-12.3	-19.0
Adjusted operating profit margin, %	8.5%	-36.1%	-1.2%	-9.0%			-3.3%

Capital employed by segments

	Restated	Restated	Restated	Restated	Restated
EUR million	1-3/2019	1-12/2018	1-9/2018	1-6/2018	1-3/2018
Housing Finland and CEE	679.2	584.9	571.7	518.0	571.2
Housing Russia	313.9	294.3	332.7	353.0	393.2
Business premises	65.5	38.2	125.2	104.3	122.0
Infrastructure projects	76.7	77.0	93.4	72.2	97.2
Partnership properties	149.5	145.0	148.7	142.7	137.0
Other items	354.0	249.3	285.7	293.1	298.1
Segments, total	1,638.7	1,388.7	1,557.3	1,483.3	1,618.7
Reconciliation1	241.6	212.5	197.3	216.0	235.5
Capital employed, total	1,880.3	1,601.2	1,754.7	1,699.3	1,854.2

¹ Reconciliation relates to discontinued operations which are not part of segment reporting.

	Restated	Restated	Restated	Restated	Restated
EUR million	1-3/2019	1-12/2018	1-9/2018	1-6/2018	1-3/2018
Housing Finland and CEE	1,606.7	1,729.3	1,767.1	1,773.9	1,719.9
Housing Russia	404.5	348.8	428.2	452.9	465.9
Business premises	1,229.7	1,326.9	1,630.6	1,589.0	1,250.3
Infrastructure projects	1,035.8	860.7	952.2	929.0	939.0
Partnership properties
Other items	25.4	19.9	28.3	28.0	25.4
Order backlog, total	4,301.9	4,285.6	4,806.4	4,772.8	4,400.5

Order backlog at the end of the period, continuing operations

Restated key figures

YIT has restated its key figures, as applicable, to reflect the impact of the planned sale of the Nordic paving and mineral aggregates business presented as discontinued operations and the profits of the operations held-for-sale presented separately from continuing operations.

Certain of these key figures are not accounting measures defined or specified under IFRS and therefore are considered as alternative performance measures. YIT presents these alternative performance measures as additional information to the financial measures presented in the pro forma information prepared in accordance with IFRS. Management believes that these key figures provide meaningful supplemental information on the combined company's pro forma results of operations and financial position, and are widely used by analysts, investors and other parties and provide additional information to analyse the combined company's performance and capital structure.

Alternative performance measures should not be viewed in isolation or as a substitute to measures presented in the pro forma information prepared in accordance with IFRS. Companies do not calculate alternative performance measures in a uniform way, and therefore YIT's alternative performance measures may not be comparable with similarly named measures presented by other companies. Reconciliations of key figures to the unaudited pro forma financial information prepared in accordance with IFRS is presented in the following tables.

Alternative performance measures and pro forma key figures are unaudited.

	Restated 1-3/2019	Restated 1-12/2018	Pro forma, restated 1-12/2018	Restated 1-9/2018	Pro forma, restated 1-9/2018	Restated 1-6/2018	Pro forma, restated 1-6/2018	Restated 1-3/2018	Pro forma, restated 1-3/2018
Adjusted ROCE,rolling 12 months	9.4	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Adjusted eanings per share pro forma, EUR, continuing operations	n/a	n/a	0.32	n/a	0.00	n/a	-0.10	n/a	-0.12
Adjusted earnings per share, continuing operations -basic, EUR	-0.08	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Unrecognised order backlog at the end of the period, coutinuing operations, EUR million	4 301,9	4,285.6	n/a	4,806.4	n/a	4,772.8	n/a	4,400.5	n/a
-of which activities outside Finland, EUR million	1,143.5	1,000.1	n/a	1,043.4	n/a	1,038.3	n/a	1,091.4	n/a

Reconciliation of adjusted operating profit

EUR million	Restated 1-3/2019	Restated 1-12/2018	Pro forma, restated 1-12/2018	Restated 1-9/2019	Pro forma, restated 1-9/2018	Restated 1-6/2018	Pro forma, restated 1-6/2018	Restated 1-3/2018	Pro forma , restated 1-3/2018
Operating profit (IFRS)	-12.1	99.7	104.7	16.6	18.5	-7.4	-8.8	-15.9	-20.6
Adjusting items
Write-down of inventories		3.4	3.4	3.4	3.4	3.5	3.5		0.0
Restructurings and divestments1			-1.3		-1.3		-1.3		-1.3
Transaction costs related to merger		1.4		1.4		1.4		1.4
Integration costs related to merger	1.2	17.4	17.4	6.2	6.2	4.0	4.0	0.9	0.9
Inventory fair value adjustment from PPA	0.5	12.1	3.4	9.2	2.5	5.8	1.7	2.2	0.8
Depreciation and amortisation expenses from PPA	0.7	6.2	4.3	4.2	3.3	2.4	2.2	0.7	1.1
Adjusting items, total	2.4	40.6	27.2	24.4	14.2	17.0	10.1	5.3	1.6
Adjusted operating profit	-9.7	140.3	132.0	41.0	32.7	9.6	1.4	-10.6	-19.0

Reconciliation of adjusted earnings per share, continuing operations

EUR million	1-3/2019
Result for the period, continuing operations	-17.9
Adjusting items, total (included in operating profit)	2.4
Adjusting items related to merger included in finance expenses,
continuing operations	-1.7
Tax impact	-0.1
Adjusted result for the period, continuing operations	-17.3
Weighted average number of shares outstanding – basic, pcs	210,048,010
Adjusted earnings per share, continuing operations– basic,
EUR	-0.08

Reconciliation of adjusted return on capital employed

EUR million	3/2019
Adjusted operating profit, rolling 12 months	141,7
IFRS 16 operating profit impact, rolling 12 months	-2,5
Adjusted operating profit less IFRS 16 impact, rolling 12 months	139,2
Capital employed, segments total 31 march 2019	1,638.7
Leased property, plant and equipment	-136.0
Leased inventories	-186.7
IFRS 16 leases impact on advances received	15.6
Adjusted capital employed, segments total 31 March 2019	1,331.6

Definitions of financial key performance indicators

Key figure	Definitions	Reason for use
Operating profit	Result for the period before taxes and finance expenses and finance income equalling to the subtotal presented in the consolidated income statement.	Operating profit shows result generated by operating activities excluding finance and tax related items.
Adjusted operating profit	Operating profit excluding adjusting items.
Adjusting items	Adjusting items are material items outside ordinary course of business such as write-down of inventories, impairment of goodwill, integration costs related to merger, transaction costs related to merger, costs, compensations and reimbursements related to court proceedings, write-downs related to non-core businesses, operating profit from businesses to be closed down, gains or losses arising from the divestments of a business or part of a business, costs on the basis of statutory personnel negotiations and adaption measures, and cost impacts of the fair value adjustments from purchase price allocation, such as fair value adjustments on acquired inventory, depreciation of fair value adjustments on acquired property, plant and equipment and amortisation of fair value adjustments on acquired intangible assets relating to business combination accounting under the provisions of IFRS 3, referred to as purchase price allocation ("PPA"). (YIT has changed the definition of this key performance indicator starting 1st of April 2019 to include operating profit from businesses to be closed down.)	Adjusted operating profit is presented in addition to operating profit to reflect the underlying core business performance and to enhance comparability from period to period. Management believes that this alternative performance measure provides meaningful supplemental information by excluding items not part of YIT's core business operations thus improving comparability from period to period.

Capital employed includes tangible and intangible assets, shares in associates and joint ventures, investments, inventories, trade receivables and other non-interest bearing receivables, provisions, advance payments and other non-interest bearing debts excluding items related to taxes, finance items and profit distribution.

Capital employed presents capital employed of segment's operative business.

Capital employed

Adjusted capital employed, segments total	Segments' capital employed total includes tangible and intangible assets less leased property, plant and equipment, shares in associates and joint ventures, investments, inventories less leased inventories, trade receivables and other non-interest bearing receivables, provisions, advance payments and other non-interest bearing debts of segments total excluding items related to taxes, finance items, profit distribution and IFRS 16 impact. (YIT has introduced this new key performance indicators starting 1st of January 2019. On 30th of June 2019 capital employed definition was changed to include only segment's capital employed.)	Adjusted capital employed, segments total improves comparability to previous years
Adjusted earnings per share	Earnings per share excluding adjusting items included in the operating profit and adjusting items related to merger included in financial expenses including tax impact.	Adjusted earnings per share is presented in addition to earnings per share in order to enhance comparability from period to period. Management believes that this alternative performance measure provides meaningful supplemental information by excluding items not part of YIT's core business operations thus improving comparability from period to period.
Adjusted return on capital employed, segments total (ROCE), %, rolling 12 months	Rolling 12 months adjusted operating profit less IFRS 16 leases operating profit impact/ adjusted capital employed, segments total on average during period. (YIT has changed the definition of return on capital employed on 1st January 2019 to exclude IFRS 16 leases related entries. On 30th of June 2019 capital employed definition was changed to include only segment's capital employed.)	Adjusted return on capital employed, % describes segment's relative profitability, in other words, the profit received from capital employed.