YIT Oyj

YIT Corporation announced on 2 September 2024 that it received a notification on 31 August 2024 from Virala Oy Ab regarding a decrease in its shareholding in YIT Corporation. On 30 August 2024, Virala Oy Ab's ownership of YIT's shares and votes fell below 20 percent, specifically to 19.65%. YIT has a single series of shares, each granting one vote, with a total of 232,059,853 shares. For further details, contact Essi Nikitin, Vice President of Investor Relations at YIT. YIT Corporation is a major construction and development company with operations in eight countries and a 2023 revenue of EUR 2.2 billion. Its shares are listed on Nasdaq Helsinki.

YIT Corporation and the City of Lappeenranta have signed a EUR 14 million contract to construct a multi-purpose indoor sports hall. The project will be executed as a design-build contract, with YIT responsible for planning and construction. The hall will cater to sports, events, and school activities, featuring energy-efficient designs and meeting World Athletics certification requirements for international competitions. Construction will begin in late 2024 and is expected to be completed by April 2026. The building will cover approximately 7000 square meters and will have a steel frame. The project aims to enhance the region's sports facilities and event hosting capabilities.

YIT Corporation announced that it has achieved its transformation program savings target ahead of schedule, with contracting segments driving profits in the second quarter of 2024. The company has focused on optimizing its balance sheet, improving liquidity, and enhancing operational efficiency. YIT has released approximately EUR 140 million of capital and aims to further reduce indebtedness. The transformation program has resulted in annualized cost savings of EUR 40 million. Despite a decrease in revenue and adjusted operating profit, YIT's Infrastructure segment showed significant profit improvement, while Business Premises and Housing segments faced challenges. The company's financing renewal efforts have strengthened its equity and liquidity. YIT expects its adjusted operating profit for 2024 to be between EUR 20–60 million, with positive operating cash flow after investments. The housing market in Finland is not expected to improve materially in 2024, but recovery is anticipated in the Baltic and CEE regions. A webcast and teleconference to discuss the results will be held on 26 July 2024.

YIT Corporation will publish its Half-year Report for January-June 2024 on Friday, 26 July 2024, at around 9:00 a.m. EEST. The report and related materials will be available on the company's website. A webcast in English and an international telephone conference will be held on the same day at 10:00 a.m. EEST, presented by President and CEO Heikki Vuorenmaa and CFO Tuomas Mäkipeska. The webcast can be accessed online, and a recording will be available later. The teleconference requires prior registration, and participants will receive details upon registering. The event is intended for investors, analysts, and the media. For more information, contact Essi Nikitin, Vice President, Investor Relations. YIT Corporation is a construction and development company with a revenue of EUR 2.2 billion in 2023, employing around 4,300 professionals in eight countries. The company’s shares are listed on Nasdaq Helsinki.

YIT Corporation has signed a contract with Prysmian Group Finland Oy to construct and expand warehouse facilities at Prysmian's Kirkkonummi production site for submarine cables. The project, valued at approximately EUR 35 million, will be added to YIT's order book for the second quarter of the year. The contract involves expanding four hall buildings and constructing a new material warehouse, covering a total area of 26,000 m². The work includes complex ground engineering, concrete and steel construction, and building systems engineering, with completion expected by June 2026. Both companies expressed satisfaction with their ongoing cooperation, highlighting the project's alignment with green transition initiatives. The investment aims to meet the growing demand for land and submarine power cables driven by the energy transition. YIT Corporation, a leading construction and development company, employs around 4,300 professionals across eight countries and reported a revenue of EUR 2.2 billion in 2023.

YIT Corporation has been appointed as the project management contractor and main constructor for the renovation of Aleksanteri School in Tampere. Commissioned by the City of Tampere, this EUR 20 million project involves extensive structural repairs and modernization of the school's technical systems and interiors, while preserving its cultural heritage. The renovation, starting in June 2025 and expected to complete by August 2027, aims to enhance accessibility and meet modern educational needs for the 550 pupils at the school. The project will begin with a development phase to finalize repair details and costs. YIT's previous experience with similar projects, like Tampere City Hall, underscores their capability. Both YIT and Tampereen Tilapalvelut expressed enthusiasm for the collaborative effort to ensure project success.