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YIT Oyj Investor Presentation 2021
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Investor Presentation
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YIT
YIT in brief-2020
yitgroup.com
PRESIDENT AND CEO'S REVIEW
A year of COVID-19 and polarised development
The strong result achieved by the housing segments was overshadowed by the result decreases of a few business premises and infrastructure projects. The Group's adjusted operating profit amounted to EUR 85 million (165).
The result of the housing segments was very strong. This was attributable to not only the favourable market conditions but also our increased market share. Our purposeful efforts to develop customer relationships and improve digital tools produced good results. We took a giant leap in digital sales: our online reservations increased by 144% compared to the previous year. Customer satisfaction also remained at an excellent level throughout the year. With growth in the number of residential start-ups in 2021, we expected the strong development of our housing-related businesses to continue.
The development of our Business premises segment was disappointing and the project profitability of the Infrastructure projects segment was unsatisfactory. Our primary objective for the next few years will be to develop YIT's project management to a high level, and we have already started working towards this goal. Operating in a uniform manner makes our day-to-day work easier, supports project resource
allocation and enables us to achieve better financial results. Effectively managed projects benefit all of the parties concerned: employees, customers and owners alike.
We saw good development in many areas in 2020. We continued the purposeful implementation of our strategy of sustainable urban development. We completed the divestment of our Nordic paving and mineral aggregates businesses and decided to close down our business operations in Norway. We strengthened our balance sheet and our full-year operating cash flow after investments was strong at EUR 336 million (51).
During the year, we reduced the carbon dioxide (CO₂) emissions of our own operations by 21%. This puts us in a good position to continue towards our target of halving the CO₂ emissions of our own operations by 2030. We have also enhanced our efforts in other areas of sustainability, such as the prevention of the grey economy and the improvement of occupational safety. Our positive development in 2020 strengthens our belief that our ultimate targets are achievable.
The year 2020 was characterised by the COVID-19 pandemic, which affected us all in one way or another. We were able to keep our construction sites operational except for minor interruptions and our projects were completed as planned. The responsible actions of our personnel and partners made it possible to continue to work healthy and safely in spite of the exceptional circumstances. I hope that the same determination and diligence concerning the prevention of COVID-19 will continue this year.
Although the year was challenging in many ways, we did a good job of navigating the challenges. Going forward, we will be even more careful in choosing projects that enable us to take advantage of our strengths and expertise. We have several projects in development, a strong plot reserve as well as highly competent and development-driven employees. Together, these strengths will serve as the cornerstones of our future success.
I want to take this opportunity to extend my warmest thanks to our customers for their trust as well as our employees and partners for their purposeful work and strong commitment during the exceptional circumstances in 2020.
Antti Inkilä
Interim President and CEO
YIT in brief 2020
YIT IN BRIEF
Creating better living environments
YIT is the largest Finnish and a significant North European urban developer and construction company. We create more sustainable, functional and attractive cities and living environments.
We develop and build apartments, business premises and entire areas. We also specialise in demanding infrastructure construction. We own properties together with our partners, which supports the implementation of our significant development projects. We also provide our customers with services that increase the value of properties.
We employ approximately 7,400 professionals in ten countries: Finland, Russia, Sweden, Norway, Estonia, Latvia, Lithuania, the Czech Republic, Slovakia and Poland.*
Our revenue in 2020 was approximately EUR 3.1 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy.
GEOGRAPHICAL DISTRIBUTION OF REVENUE EUR MILLION
Finland
Revenue: 2,245
Personnel: ~4,400
Russia
Revenue: 305
Personnel: ~1,400
Baltic countries
Revenue: 242
Personnel: ~1,000
Scandinavia
Revenue: 151
Personnel: ~300
Central European countries
Revenue: 128
Personnel: ~300
Business premises
Partnership properties
Housing
Infrastructure
*In October 2020, YIT announced to close down its operations in Norway.
Share of revenue per segment
- Housing Finland and CEE 41%
- Housing Russia 9%
- Business premises and Partnership properties 25%
- Infrastructure 25%
Revenue
3.1
EUR billion in 2020
Adjusted operating profit
85
EUR million in 2020
YIT in brief 2020
YIT IN BRIEF
The year 2020 in figures
100 GOOD DEEDS
more than 220 good deeds have already been done in our responsibility programme.
Find out more at: yit.fi/100hyvaatekoa
TOP PERFORMANCE
Online reservations in apartment sales
+144%
Operating cash flow after investments
336
EUR million
HAPPY PEOPLE
Commitment index
80%
Employer image
1.
personnel satisfaction
80%
the ideal construction industry employer among students and university-educated professionals in the field of technology in Finland
SUCCESS WITH CUSTOMERS AND PARTNERS
Customer satisfaction in project business
52
Customer satisfaction in service business
28
Net Promoter Score
scale: -100–100
Net Promoter Score
scale: -100–100
STEPPING UP SUSTAINABILITY
Carbon dioxide emissions (CO₂e)
-21%
Occupational safety
9.8
of our own operations
Combined accident frequency (own and sub-contractors' personnel)
YIT in brief 2020
Merenkulkijanranta, Helsinki, Finland
YIT IN BRIEF
MORE INFORMATION ON OUR HIGHLIGHTS OF THE YEAR: YITGROUP.COM/EN/ABOUT-YIT
Highlights from 2020
1 April 2020
YIT sold its paving and mineral aggregates businesses to Peab. The divestment clarified YIT's business structure and strengthened the balance sheet.
9 June 2020
YIT and Meridiam signed an agreement on implementing five schools and three daycare centres under the life cycle model in Espoo, Finland. The projects will include facilities for nearly 3,900 children. The projects are scheduled to be gradually completed by 2024.
26 June 2020
YIT is responsible for the extension of the Sockenplan metro line in Stockholm, Sweden. The contract is part of the broader extension of the Stockholm metro and will last for approximately two and a half years.
15 September 2020
COVID-19 shook up work and daily life. We wanted to understand its impacts on work, workspaces and working environments. We published the Year Zero: 7 Lessons about the Future of Work report in collaboration with Microsoft and Milton.
22 October 2020
YIT's renovation of the Main Building of the University of Helsinki won the Construction Site of the Year 2020 award. Designed by Carl Ludvig Engel, the Main Building of the University of Helsinki is protected as a historically significant building. The renovation is aimed at bringing the facilities up to date to meet today's technical and functional requirements.
Watch the video >
29 October 2020
YIT began construction on the Zwirn project in Slovakia. A total of 267 apartments will be completed in the late summer 2023 and the value of the project is approximately EUR 48 million. Zwirn is an urban residential and office property in Bratislava's historical industrial district, on a plot of land known for being the location of a spinning mill.
YIT in brief 2020
STRATEGY
WATCH THE VIDEO: WE CREATE BETTER LIVING ENVIRONMENTS - SUSTAINABLY
Sustainable urban development is at the core of our business
Our mission is to create functional cities and sustainable living environments in all of our operating countries. Our strategic priorities are improving the business mix of our operations as well as strengthening our profitability and performance.
Megatrends influence our operations and strategic choices. We expect urbanisation to continue in spite of the COVID-19 pandemic. The digital leap that occurred during the year will permanently change the way knowledge workers work, and
the use of data is a key competitive factor in business. Sustainability requirements, the needs of the ageing population and factors related to health and safety are having an increasing impact on consumer behaviour and purchase decisions.
IMPROVING THE BUSINESS MIX OF OUR OPERATIONS
Sustainable urban development is the starting point of our business strategy. We develop significant projects. We will strengthen our growth by focusing on our plot reserve, partnerships and financing as well as our project development capabilities.
In the construction business, we will focus on our strengths: self-developed projects as well as alliance projects and life-cycle projects that require a high level of expertise. We will place particular attention on productivity and quality in construction.
We will use investments to increase our ownership of the properties we develop. Through partnerships and joint ownership, we will particularly enable the implementation of significant urban development projects. We will also increase our ownership in our residential investments.
We will differentiate ourselves by providing services in cooperation with our partners. Our services help us increase user satisfaction in the projects we have built, reduce the life-cycle costs of properties, reduce the carbon footprint and improve property yields. This means we also increase property values.
Tripla is an excellent example of sustainable urban development as it makes important daily services accessible in 15 minutes by walking, cycling or public transport.
YIT in brief 2020
More life in sustainable cities
STRATEGY 2021–2023:
PERFORMANCE THROUGH CYCLES
– Improving profitability and maintaining financial stability –
MEGATRENDS
STRATEGIC PRIORITIES
CORNERSTONES
DEVELOPMENT PROGRAMMES
We create better living environments
FUNDAMENTS
SAFETY FIRST
QUALITY ALWAYS
OUR VALUES
RESPECT
COOPERATION
CREATIVITY
PASSION
STRATEGY
The cornerstones of profitability and performance
The implementation of our strategy is focused on strengthening our four cornerstones.
HAPPY PEOPLE
Our company culture and management are reflected in our working community and employee satisfaction. Supportive teams and supervisors who support employees strengthen employee commitment and inspire everyone to work toward our shared goals. We support our success through strategic recruitment as well as systematic traineeship and competence development programmes. Our goal is to be the most desired employer in our field among current employees, students and professionals.
STEPPING UP SUSTAINABILITY
Sustainable development is at the core of everything we do. We are committed to halving our carbon dioxide emissions by 2030. We also want to enable carbon-neutral heating, cooling and hot water in our self-developed projects.
We aim to differentiate ourselves through our sustainable products and services. For example, we will increasingly take sustainable and healthy lifestyle into account in designing apartments. We are committed to improving the sustainability of the supply chain and developing sustainability reporting.
SUCCESS WITH CUSTOMERS AND PARTNERS
Creating an excellent customer experience is a key objective for us, which is why we continuously develop our operations to benefit our customers. We will focus on improving the digital customer path for home buyers, monitor the development of customer satisfaction through regular surveys, collect and analyse data on our customers' wishes. We want to differentiate ourselves through new services and concepts that support our business. We will increase user satisfaction and comfort as well as reduce property emissions and costs through digital solutions introduced at properties.
TOP PERFORMANCE
We aim to improve our productivity. Our objectives include capital efficiency, better project margins and minimising negative adjustments to projects. To achieve top performance, we must adhere to coherent operating methods and improve turnaround times. We will increase productivity through the increasingly effective adoption of various digital tools as well as tools used for building information modelling.
YIT in brief 2020
SUSTAINABLE DEVELOPMENT
READ MORE: YITGROUP.COM/SUSTAINABILITY
The foundations of sustainability
- Creating sustainable, comfortable and safe urban development by utilising opportunities provided by the circular economy. We build long-lasting and attractive living environments. We promote low-carbon construction and develop life-cycle services for properties.
- Promoting the personnel's occupational well-being and competence development. We aim to be an attractive employer and offer equal opportunities to our employees. We invest in the continuous development of employee competence.
- Compliance with good corporate governance and preventing corruption and the grey economy. Our operations are ethical and transparent. We comply with responsible business practices.
- Implementing responsible subcontracting and procurement. We are committed to respecting labour and human rights. We set environmental and social responsibility requirements for our subcontractors and supply chain.
- Occupational safety. We continuously improve our safety practices. We also monitor compliance with occupational safety practices among our subcontractors and throughout the supply chain.
- Reducing the environmental impacts of our own operations. We increase use of renewable energy and aim to improve waste sorting in our production processes. We mitigate climate change by decreasing the emissions of our own operations.
YIT in brief 2020
SUSTAINABLE DEVELOPMENT
Long-term sustainability targets
CO₂ EMISSIONS
We will halve the carbon dioxide emissions of YIT's operations and self-developed projects by 2030 (compared to 2019). In 2020, we increased the use of renewable energy in our operations and strove to improve waste sorting. We researched low-emission materials and built our first modular wooden apartment building. We also began developing a group-wide road map to promote the reduction of emissions.
CARBON NEUTRALITY
We will enable carbon-neutral heating, cooling and hot water in our self-developed projects. This objective enables us to help our customers and the users of properties reduce their carbon footprint, as heating accounts for a significant proportion of the emissions arising from the use of properties. In 2020, we started construction of three geothermally heated apartment buildings, and we are planning to implement geothermal heating in a growing number of projects.
CO₂ REPORTING
CO₂ calculation is a mandatory component of project development in our self-developed projects. We started the reporting process of CO₂-emissions regarding self-developed projects that were started in 2020, and calculated the preliminary life-cycle carbon footprint for 98% of our projects in the design phase. We have trained our personnel on carbon footprint calculation in all of our operating countries and developed automated calculation methods based on precise material volumes.
-50%
CO₂ emissions by 2030
Carbon-neutral
heating, cooling and hot water
CO₂
reporting starting from 2020
10 | YIT in the USA
Merenkulkijanzanta, Heling & Poland
SUSTAINABLE DEVELOPMENT
READ MORE ABOUT YIT'S IMPACTS ON THE UN SUSTAINABLE DEVELOPMENT GOALS (SDGS) YITGROUP.COM/SUSTAINABILITYMANAGEMENT
Targets and actions 2020
| SDG | Theme | Target 2020 | Indicator and result in 2020 |
|---|---|---|---|
| 1. SUSTAINABLE DEVELOPMENT | |||
| 2. AFFORDABLE | 1. SUSTAINABLE, COMFORTABLE AND SAFE URBAN DEVELOPMENT BY UTILISING THE OPPORTUNITIES PRESENTED BY THE CIRCULAR ECONOMY | ||
| Circular economy | Improving opportunities for recycling soil masses (Infrastructure) | Development plan created | |
| Sustainable urban development indicators: YIT's net impact | The net impact has been determined. Four urban development projects have been piloted. | ||
| Sustainable urban development | Area development (infill development and service development) | One project has been started in Espoo | |
| 2. COMPLIANCE WITH GOOD CORPORATE GOVERNANCE AND PREVENTING CORRUPTION AND THE GREY ECONOMY | |||
| Responsible business principles | Investigating conflicts of interest and other conflicts with regard to key personnel | Investigations completed: 21 pcs | |
| Fighting corruption and transparent actions | Zero incidents (crimes and misdemeanours) | Investigations that resulted in the termination of an agreement or employment contract: 26 pcs | |
| Internal audit observations and corrective measures: 147 pcs, 29 incomplete | |||
| 3. OCCUPATIONAL SAFETY | |||
| Preventive indicators | Management walks & talks | Target: 1,200 visits, result: 1,100 | |
| Digitalisation of weekly site assessments and occupational safety observations | Expanding the deployment of the digital tool: three countries | ||
| Ensuring a healthy and safe workplace together | Prevention of the challenges presented by the COVID-19 pandemic | ||
| Reactive indicators | A zero-accident workplace | Target: LTIF <9 (Group personnel and partners), result: 9.8 | |
| 4. PROMOTING THE PERSONNEL'S OCCUPATIONAL WELL-BEING AND COMPETENCE DEVELOPMENT | |||
| Happy people | A positive work atmosphere | Spirit index of the YIT Voice personnel survey: target >76%, result: 77% | |
| An excellent path into the industry for students | Number of trainees: target 700 trainees/summer workers, result: 804 persons | ||
| Trainee feedback (recommendation index): >90%, result: 97% | |||
| Good supervisory work and investment in HR development | Participation in supervisor training: target 200 supervisors, result approx. 300 supervisors | ||
| Resignation for personal reasons: target <5% (rolling 12 months), result 7% | |||
| 5. RESPONSIBLE SUBCONTRACTING AND PROCUREMENT | |||
| 6. REDUCING THE ENVIRONMENTAL IMPACTS OF THE GROUP'S OWN OPERATIONS | Audits and procurement processes | Updating the Supplier Code of Conduct document | The document has been updated and implemented in all of operating countries |
| Increasing transparency | Subcontractor audits in the most significant procurement categories | Audits were interrupted due to the COVID-19 pandemic | |
| Sustainability as part of the Group's supply chain management | Responsible sourcing road map has been partially deployed according to the schedule | ||
| 7. HUMANITY | |||
| 8. EMPLOYMENT | |||
| 9. WELL-BEING | |||
| Energy and material efficiency | Developing energy reporting and deploying an energy reporting tool (Finland) | Reporting has been harmonised and will be implemented in all segments in 2021 | |
| Carbon calculations | The capability has been established, calculations in all self-developed projects starting from 2021 | Capability for calculation has been established. 98% of the targeted projects calculated. | |
| Recycling and reuse of materials | Expanding waste reporting and improving waste sorting at construction sites (Finland) | The waste reporting tool has been deployed and improvement measures have been started | |
| Gradual expansion of reporting to include other operating countries | In the first place project-specific piloting in Russia | ||
| Management of environmental impacts | Harmonisation and digitalisation of the environmental observation process (Finland) | The process has been harmonised and will be implemented in all segments in 1/2021 |
YIT in brief 2020
HAPPY PEOPLE
We are building a better future together
At YIT, we build better living environments together. We are also building a better working community that boldly takes itself and the entire construction industry forward.
Everyone at YIT has the right to a safe and respectful working environment that genuinely cares about their well-being. As the COVID-19 pandemic challenged our operating environment, we focused on ensuring the health and safety of our personnel as well as the effective functioning and resource allocation of our construction sites. Our coronavirus preparedness team coordinated our COVID-19 guidelines, support for construction sites, the sharing of best practices and multi-channel communication. Regular open dialogue with personnel representatives enhanced the implementation of common guidelines and recommendations. We were successful in coordinating our proactive precautionary measures as well as active cooperation with labour market organisations, our occupational health care provider and epidemiological units.
We were ranked as the ideal construction industry employer among students and university-educated professionals in the field of technology in Finland.
The pandemic presented challenges to the way work. We used remote work and in-office work flexibly and reacted in accordance to the government restrictions. We published group-level remote work principles. We completed the planned supervisor training activities in online environments. We arranged safety training online when possible. In spite of the COVID-19 situation, we were able to offer traineeships and summer jobs to about 800 young people and completed the traineeships without COVID-19 infections.
Our personnel survey results showed an increased rate of employee satisfaction and as much as 98% of the comparable results improved year-on-year. According to the sustainability index concerning ethics, personnel development opportunities and values, 77% of the respondents rated the Group's business as good or excellent. Compared
to other companies, we achieved high scores for cooperation, supervisor support, development opportunities and caring for employees.
Thanks to the high professional competence of the employees, the renovation of the Main Building of the University of Helsinki implemented with an alliance model won the Construction Site of the Year 2020 award. In Finland, we were ranked as the ideal construction industry employer in the field of technology in Universum's Students survey and Professionals survey. In Slovakia, we were awarded as Top attractive employer in the construction field. In Estonia, we were ranked in the Top 3 of the most ideal employers among technology students.
YIT in brief 2020
HAPPY PEOPLE
Cooperation takes all of us forward
OUR FOCUS ON SAFETY REFLECTS OUR RESPECT FOR LIFE
Respect for life took concrete form in the "Care – don't walk by!" idea. Our white-collar employees made a safety promise as part of their performance and development discussions. In our induction training, safety briefings and employee information sessions, we emphasised health and safety as well as the implementation of best practices among our personnel and partners.
We ensured that expert assistance was available when there were acute suspicions of COVID-19 infections. We worked closely together with businesses, health care and the authorities.
We developed our safety-related operating methods. We increased our understanding of risks by analysing near misses. We continued management walks at our construction sites while taking the exceptional circumstances into account. We expanded our safety reporting to include health and continued to take action to maintain and support our employees' ability to work.
The number of safety observations increased. We carried out a hygiene pilot as part of our work safety measurements at 10 construction sites in Finland. We also successfully expanded the policy of allowing absences of 1–7 days, subject to a supervisor's approval, to apply across Finland.
We participated in the Safety Week of the Confederation of Finnish Construction Industries on a group-wide basis. We won first prize in the Uusimaa Occupational Safety Competition 'Turvallisesti 2000-luvulla' in the infrastructure business category and Borealis Naphtha Cavern won first prize in the site category.
WE SUPPORT AND ENABLE DIVERSE CAREER PATHS
We focused on the career rotation of white-collar personnel released from large terminating projects.
We completed a YIT Studies programme, from which have been gratuated already more than 200 students over the years. 31% of our trainees were given permanent positions or hourly work alongside their studies. According to the feedback from our trainees, 97% of them want to work for YIT again in the future. We engaged in active cooperation with various educational institutions, supported by 26 students acting as YIT Agents.
We conducted an applicant satisfaction survey among our trainees and achieved good scores (4/5) on questions concerning job interviews, for example.
We launched the Future Builders community of professionals, which had 150 members by the end of the year.
WE SUCCEED BY DEVELOPING OUR COMPETENCE AND OPERATING METHODS
With the help of our key personnel processes, our group-level employee promise supports induction training, development and coherent workplace culture. We updated our remuneration policy.
Approximately 300 supervisors participated in the Group's management and supervisor training as well as various business-level training activities. The management of the Group and the segments completed a three-part sustainability training.
We launched remote work training to support self-awareness, managing one's work and interaction skills, for example.
A total of 19 pairs participated in our mentoring programme during the year. Since 2015, we have had 196 employees participate in the programme.
YIT in brief 2020
SEGMENTS
Our customer offering
Functional homes, living services and convenience in daily life.
Infraestructure
Smooth traffic flows and sustainable living environments.
YIT in brief 2020
SEGMENTS
Housing Finland and CEE
We build apartments and develop entire residential areas. We provide living services. Our customers include households as well as private and institutional investors.
MARKET AREA
We operate in Finland, Estonia, Latvia, Lithuania, Poland, the Czech Republic and Slovakia. We are the market leader in Finland and a major player in the Central Eastern Europe (CEE countries).
RESULT IN 2020
Revenue grew to EUR 1,286 million (1,240) and adjusted operating profit was EUR 108 million (91). In 2020, we completed 4,256 (4,282) apartments in Finland and 1 654 (1,740) apartments in the CEE countries.
KEY PROJECTS
Niemenranta, Tampere, Finland; Ranta-Tampella, Tampere, Finland; Fabriikki, Turku, Finland; Nuppu, Bratislava, Slovakia; Suomi Hloubetin, Prague, Czech Republic; Piliamiestis, Kaunas, Lithuania; Aroma Park, Warsaw, Poland.
FOCUS AREAS
Our focus areas include improving the customer experience and productivity, service development and digitalisation, increasing the use of prefabricates and reducing the carbon footprint. We have calculated the carbon footprint of all of our self-developed residential projects in Finland and CEE countries since the start of 2020. In our projects, our aim is to continuously investigate alternative material, energy and production solutions and their environmental impacts. For example, in 2020, we started the construction of our first modular wooden apartment buildings as well as properties with geothermal heating.
Konepaja in Helsinki's Vallila district will be fully completed in March 2021 after more than 15 years of construction.
READ MORE
YIT in brief 2020
SEGMENTS
Housing Russia
We develop sustainable living environments in major cities in Russia. We offer a wide range of living services in addition to property management and maintenance.
MARKET AREA
We develop and build residential blocks and area projects and ensure the acquisition of new plots in St. Petersburg, Kazan, Yekaterinburg and Tyumen. In the Moscow region, we are continuing construction on our area projects until they are completed. In addition to the aforementioned cities, we also offer property management, maintenance and living services in Moscow, Rostov-on-Don, Surgut and Novosibirsk.
Housing sales in Russia were brisk throughout the year and the customer base of our service business continued to grow.
READ ABOUT NEW HOUSING START-UPS IN RUSSIA
RESULT IN 2020
Revenue grew to EUR 305 million (240) and adjusted operating profit was EUR 27 million (1). YIT completed 2,736 (3,819) apartments in Russia in 2020 and was responsible for the maintenance and services for more than 71,000 apartments, 13,000 parking places and 10,000 commercial premises.
KEY PROJECTS
Suomen Ranta, Yekaterinburg; Tarmo, St. Petersburg; City Zen, Tyumen; GREEN, Kazan; Lytkarino, Moscow region; completing the integration of a joint venture providing property maintenance services in West Siberia.
FOCUS AREAS
Our focus areas include taking sustainability into account in our operations, improving the customer experience and ensuring the stability of operations in all of our units.
We calculate the full life-cycle carbon footprint of our new self-developed projects and we are investigating opportunities to halve the carbon footprint of construction materials and our own operations.
We will continue the digital transformation of our operations and the development of our service and product quality in response to the needs and expectations of our customers. We were successful in moving our sales and customer service operations online in 2020.
We will grow our property management and maintenance business and we aim to expand our range of living services as well as launch new partnerships.
YIT in brief 2020
SEGMENTS
Partnership properties
The Partnership properties segment focuses on project development, property ownership and related management, maintenance and service production operations primarily in YIT's self-developed and partially or fully owned property projects. We implement large and long-term projects in cooperation with our investor partners, which increases our investment capacity. Our property investment projects are aimed at generating stable returns.
YIT's Offering and services unit was established to support the development of new concepts and customer-oriented services.
READ ABOUT THE WORKERY+ CONCEPT
MARKET AREA
We operate in Finland, Estonia, Latvia, Lithuania, Slovakia, the Czech Republic and Poland.
RESULT IN 2020
The Partnership properties segment earns income through project development as well as rental and other income and capital appreciation of assets. The segment also earns revenue from various service agreements. The Partnership properties segment reported an operating profit of EUR 5 million (83) in 2020.
KEY PROJECTS
Key projects in the development phase: Maria growth and tech hub, Helsinki, Finland; Asemakeskus Punos, Helsinki, Finland, Garden Helsinki, Finland. Key projects in the yield phase: Mall of Tripla, Helsinki, Finland; YCE Housing 1 Fund, CEE countries.
FOCUS AREAS
We engage in long-term cooperation with property owners and property investors. Our strong expertise makes us the ideal partner to develop and refine projects of various sizes in accordance with the needs of property users, end customers and the market. The Offering and services unit established under the segment is tasked with expediting the development of concepts offered to our corporate customers and our customer-oriented offering. By investing in growth-stage proptech companies, we help introduce new innovative solutions to our customers' needs.
YIT in brief 2020
SEGMENTS
Business premises
The Business premises segment is responsible for the construction of business premises projects in particular. We focus on new construction, renovation and life-cycle projects. Our projects include offices, business premises, production premises and logistics premises as well as public buildings. We also build residential projects on a contracting basis and carry out hybrid projects that combine various uses.
We renovated the protected Käärmetalo building, which was originally completed in 1951, to correspond to contemporary requirements while maintaining the building's original appearance.
READ MORE
MARKET AREA
We are the leading developer of business premises in Finland and a significant player in Estonia, Lithuania and Slovakia. We focus on capital regions and growth centres.
RESULT IN 2020
Revenue amounted to EUR 761 million (1,177) and adjusted operating profit was EUR -44 million (-7). Adjusted operating profit returned positive during the last quarter of the year. The order book stood at EUR 745 million (897) at the end of the year.
KEY PROJECTS
University of Helsinki Main Building, Helsinki, Finland; Eight schools and daycare centres under the Public Private Partnership model, Espoo, Finland; Keilaniemenranta, Espoo, Finland; Helsinki Airport terminal expansion, Vantaa, Finland; Zwirn, urban residential and office property, Bratislava, Slovakia.
FOCUS AREAS
The focus of our operations is on new sustainable urban development projects and renovation. We aim to achieve an industry-leading position in energy efficiency, material efficiency and the use of circular economy solutions. Urbanisation, the densification of the urban structure and the ageing of the building stock create a growing need for renovation, which is why our services also include changes in the use of buildings as well as repairs of business premises and housing companies. We have monitored the site-specific carbon footprint of our self-developed projects starting from 2020.
YIT in brief 2020
SEGMENTS
Infrastructure
We are a comprehensive infrastructure construction partner that provides customers with the best solutions for demanding infrastructure projects.
MARKET AREA
We are an enabler of sustainable urban development and a connector of growth centres. Our wide-ranging expertise enables demanding urban development projects using integrated project delivery models. We engage in challenging infrastructure construction in Finland, Sweden, Norway and the Baltic countries and maintain 30,000 kilometres of streets and roads in Finland.
The first phase of the Tampere Tramway is progressing ahead of schedule and under target cost.
READ MORE
RESULT IN 2020
Revenue amounted to EUR 791 million (807) and adjusted operating profit was EUR 13 million (15). The order book amounted to EUR 829 million (1,128) at the end of the year.
KEY PROJECTS
Crown Bridges alliance, Helsinki, Finland; Jokeri Light Rail, Helsinki–Espoo, Finland; Kaitaa and Soukka metro stations, Espoo, Finland; Tampere Tramway, Tampere, Finland; Sockenplan metro line extension, Stockholm, Sweden; Atlantinsilta bridge, Helsinki, Finland; A2 motorway, Lithuania; regional contract for road maintenance 2019–2024, Vantaa, Finland; Hamina–Vaalimaa life-cycle project maintenance phase 2019–2034, Finland; data centre, Sweden; Royal Park parking facility, Helsinki, Finland; infrastructure construction for the Keilaniemenranta project, Espoo, Finland; infrastructure for the residential construction project in the Koskela hospital area, Helsinki, Finland; Henriksdal wastewater treatment plant, Stockholm, Sweden; Blominmäki wastewater treatment plant, Espoo, Finland; waste-to-energy plant expansion, Vantaa, Finland.
FOCUS AREAS
The focus of our operations is on demanding infrastructure and urban development projects that support sustainability, such as rail, tram, wind power and data centre projects. We use integrated project delivery models in our operations. We also carry out self-developed infrastructure projects.
YIT in brief 2020
Ambitious projects built through cooperation.
At YIT, we build better jobs and career paths. Construction is a team sport and we have paths for professionals in various fields at our construction sites and offices. People are the key factor behind our success, which is why we consider it important to keep them motivated and develop their competence.
Join our Future Builders community of professionals and find out more about our career opportunities: yitgroup.com/careers
YIT CORPORATION
P.O. Box 36 (Panuntie 11)
00621 Helsinki, Finland
Tel. +358 20 433 111
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