1. Group CEO Reino Hanhinen Event for analysts and investors
YIT Group Financial Statements 2003
Group CEO Reino Hanhinen
Event for analysts and investors
20 February 2004
20 February |
YIT CORPORATION

2. YIT Group Financial Statements 2003
Appendices
A. YIT Group´s segments
Building Systems
Construction Services
Services for Industry
Data Network Services
B. Implementation of IAS/IFRS-regulations
C. Financial figures 2003
20 February |
YIT CORPORATION

3. YIT Group
20 February |
YIT CORPORATION

4. Restructurings in line with strategy continued
Year 2003
Restructurings in line with strategy continued
Following the Building Systems acquisition, YIT became the leading company providing Building Systems services in the Nordic countries measured in terms of net sales. The acquisition was in line with YIT’s strategy to expand building systems investment and maintenance services in the Nordic countries.
At the end of year 2003 YIT commenced residential construction around Moscow through a YIT-majority owned joint venture named ZAO YIT Ramenje. The start-up of residential construction in the Moscow area is in line with YIT’s strategy and opens up significant markets for the company.
YIT sold Makroflex which manufactured sealants and thermal insulation materials. In line with its strategy, YIT has divested itself of the industrial production operations and focused on its core business which is to provide implementation and maintenance services.
20 February |
YIT CORPORATION

5. Year 2003
YIT share
In 2003 the increase in YIT's share price was 60.2 per cent. The HEX Portfolio Index increased by 16.2 per cent and the HEX All-share Index by 4.4 per cent.
Share turnover also grew significantly especially during the latter half of the year after the Building Systems acquisition. In 2003 the turnover was 50 per cent of the shares outstanding (2002: 35 per cent).
YIT is part of the HEX25 Index starting from 2 February 2004.
The Board of Directors propose that a dividend of EUR 1.20 per share be paid out which is 73.2 per cent of earnings per share. During the last nine years YIT has raised the company's dividend per share.
20 February |
YIT CORPORATION

6. Year 2003 – financial statements
Net sales growth of 36% amounting to EUR 2,389.7 million (2002: 1,763.0). The share of acquired Building Systems operations amounted to EUR million.
Order backlog growth was 59% amounting to EUR 1,490.1 million (938.8). The share of acquired Building Systems operations amounted to EUR million.
Profit before taxes was EUR 84.4 million (77.6).
Return on investment 16.8% (17.8%).
Operative cash flow continued to be strong and amounted to EUR –54 million before taxes. The cash flow includes the Building Systems transaction price of EUR 169 million and was EUR 115 million before this acquisition related cash item.
Earnings per share amounted to EUR 1.64 (1.49; exclusive of residual tax 1.86).
The share of net sales accounted for by service and maintenance operations grew up to EUR million (425.1) which was 27% (24%) of net sales.
20 February |
YIT CORPORATION

7. YIT’s corporate structure
YIT Corporation
Reino Hanhinen
Corporate Management, Corporate Services, Corporate Communications
Building Systems
Juhani Pitkäkoski
Construction Services
Ilpo Jalasjoki
Services for Industry
Raimo Poutiainen
Data Network Services
Hannu Leinonen
Building Systems
Automation and security
Property maintenance services
Housing
Business environments
Infrastructure
Piping and tanks
Maintenance
Fixed networks
Mobile networks
Net sales 2003 MEUR 681*
Personnel 12/ ,812
Net sales 2003 MEUR 1,399
Personnel 12/ ,268
Net sales 2003 MEUR 210
Personnel 12/ ,117
Net sales 2003 MEUR 130
Personnel 12/ ,463
* Acquired Building Systems business consolidated into YIT Group Aug. 29 – Dec. 31, 2003
20 February |
YIT CORPORATION

8. Major acquisitions and divestments YIT’s life-cycle service chain and geographical expansion
Construction in Moscow Oblast
ZAO YIT Ramenje (2003)
Building systems maintenance and upkeep services
YIT Building Systems (2003)
ACQUISITIONS
Telecom network maintenance YIT Primatel (2002)
Jointing insulation business
Makroflex (2003)
Construction in Estonia AS FKSM (2001)
Building systems maintenance and upkeep services YIT Calor (2001)
Surface-treatment business (2001)
Testing business Huber Testing Oy (2000)
Construction in Lithuania AB YIT Kausta (1999)
Property maintenance services YIT Rapido (1999)
Steel construction PPTH Teräs Oy (1999)
Construction in St Petersburg and Russia
ZAO YIT Lentek (1997)
Industrial maintenance
YIT Service (1996)
DIVESTMENTS
Building systems maintenance
and upkeep services
YIT Huber (1995)
20 February |
YIT CORPORATION
YIT-YHTYMÄ OYJ

9. Strengthening the market position on strategic business areas
In terms of net sales, YIT is the market leader in all of its segments in Finland.
In Building Systems, YIT is the leading company in the Nordic countries.
Construction markets in the Baltic countries and Russia are YIT´s strategic expansion areas.
BUILDING SYSTEMS
YIT Building Systems (Sweden)
Net sales 2003 MEUR 305
Personnel 12/2003 4,266
Local offices 159
YIT Kiinteistötekniikka Oy (Finland) 1
Net sales 2003 MEUR 241
Personnel 12/2003 3,819
Local offices 79
YIT Building Systems AS (Norway) Net sales 2003 MEUR 98
Personnel 12/2003 2,719
Local offices 63
YIT A/S (Denmark) Net sales 2003 MEUR 37
Personnel 12/2003 1,008
Local offices 13
CONSTRUCTION SERVICES DATA NETWORK SERVICES
Baltic States - AS FKSM, Tallinn
- AB YIT Kausta, Kaunas
- YIT Latvija SIA, Riga
Russia
- ZAO YIT Lentek, St. Petersburg
- ZAO YIT Genstroi, Moscow
- ZAO YIT Ramenje, Moscow
Net sales 2003 MEUR 204
- Personnel about 1,500
1Includes the Baltic and Russian operations
20 February |
YIT CORPORATION

10. YIT’s main strategy and strategic focus
YIT’s main strategy is profitable growth
Strategic focus in the near future is cash flow generation and cost efficiency
Special emphasize in operations on efficient use of capital and increasing productivity
20 February |
YIT CORPORATION

11. YIT’s strategic target levels
Average annual growth in net sales 5–10%
Return on investment 18%
Equity ratio 40%
Dividend payout 30–50% of net profit for the year after taxes and minority interests
20 February |
YIT CORPORATION

12. YIT share and HEX25 indexed development–
YIT
83%
HEX25
23%
Source: Reuters
20 February |
YIT CORPORATION

13. Market capitalization
1994 – 18 February 2004 M€
20 February |
YIT CORPORATION

14. YIT’s average daily turnover
January 2003 – February 2004
140,000
118,702
120,000
100,000
Average
64,522
82,731
80,000
62,916
58,389
60,000
Average
37,143
53,430
52,933
52,668
44,955
42,796
40,893
40,000
31,719
27,663
29,044
23,779
20,000
January
March
April
May
February
June
July
August
September
October
November
December
January
Up until 18 February
Before Building Systems acquisition
After Building Systems acquisition
Source: Reuters
20 February |
YIT CORPORATION

15. Consolidated income statement
43.0
77.6
-12.2
5.1%
89.8
-12.8
-16.9
-1,643.5
386.9
1,763.0
2002
13%
-14.4
Amortization of goodwill
48.4
Profit for the financial year 9%
84.4
Profit before taxes
Extraordinary expenses
Extraordinary income
Profit before extraordinary items
16%
-14.2
Financial income and expenses (net)
4.1%
as percentage of net sales
10%
98.6
Operating profit
38%
-23.4
Depreciation and value adjustments
37%
-2,253.3
Operating income and expenses
74%
672.5
Net sales outside Finland
36%
2,389.7
Net sales
Change
2003
MEUR
20 February |
YIT CORPORATION

16. Consolidated Balance Sheet
1,038.2
28.2
10.7
503.5
338.1
7.1
7.2
61.9
71.8
9.7
2002 9%
78.0
Goodwill on consolidation
50%
1,555.5
Total assets
72%
48.4
Cash in hand and at bank
11%
11.9
Marketable securities
55%
781.0
Receivables
13%
380.8
Inventories
7.9
Other investments
Own shares
Investments 8%
66.8
Tangible assets
1,763%
180.7
Intangible assets
ASSETS
Change
2003
MEUR
20 February |
YIT CORPORATION

17. Consolidated Balance Sheet
1,038.2
509.7
138.2
14.2
2.9
313.7
59.5
2002
50%
1,555.5
Total liabilities
78%
905.6
Current liabilities
53%
210.9
Non-current liabilities
92%
27.3
Provisions
17%
3.4
Minority interests
11%
347.3
Other shareholders’ equity 3%
61.0
Share capital
LIABILITIES
Change
2003
MEUR
20 February |
YIT CORPORATION

18. * Consolidated into YIT Group Aug. 29 – Dec. 31, 2003
Net sales 1994–2003
MEUR
2,389.7
2,500
Acquired
Building
Systems operations*
335.1
2,000
1,763.0
1,623.1
1,500
1,222.1
1,235.4
1,167.7
941.4
1,000
876.3
660.0
545.6
500
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
* Consolidated into YIT Group Aug. 29 – Dec. 31, 2003
Strategic target level: 5–10% per year
20 February |
YIT CORPORATION

19. Net sales by business segment 1,763.0 -26.3 95.8 2) 240.51) 1,111.8
341.21)
1-12/2002
36%
2,389.7
YIT Group total
12%
-29.5
Other items
130.0
Data Network Services
-13%
209.7
Services for Industry
26%
1,398.5
Construction Services
100%
681.01)
Building Systems
Change
1-12/2003
MEUR
1) Acquired Building Systems operations are consolidated into YIT Group Aug. 29 – Dec. 31, Net sales figures 2002 of Building Systems and Services for Industry business segments are pro forma.
2) Jun.–Dec./2002.
20 February |
YIT CORPORATION

20. Operating profit 1994–2003
MEUR
20 February |
YIT CORPORATION

21. Operating profit by business segment MEUR 1-12/2003 1-12/2002 Change
Construction Services )
70.3
53%
Data Network Services
10.7
6.02)
78%
Building Systems ) - -
Services for Industry
8.8 - -
(YIT Installations) 4) -
21.1 -
Other items
-9.0
-7.6
18%
YIT Group total
98.6
89.8
10%
1) Operating profit of International Operations includes about EUR 30 million in capital gains from the sale of Makroflex. Operating profit of YIT Business Premises was reduced by the sum of EUR 5.7 million recorded as a loss by YIT on the basis of a ruling by the Helsinki District Court. The ruling concerned the conversion and additional works involved in the refurbishing of SOK’s former head office building. YIT has appealed the decision.
2) Jun.–Dec./2002.
3) Operating profit of Building Systems business segment is burdened by EUR 5.8 million integration costs and EUR 11.5 million downscaling expenses of the acquired Building Systems operations in Sweden.
4) Distribution of YIT Installations’ operating profit could not be calculated accurately afterwards.
20 February |
YIT CORPORATION

22. Order backlog at the end of year
1994–2003
MEUR
1,490.1*
938.8
735.8
574.7
477.5
479.1
411.7
332.8
346.1
319.7
* The share of order backlog accounted for by the acquired Building Systems operations was EUR million.
20 February |
YIT CORPORATION

23. Order backlog by business segment 59% 9% -21% 32% 257% 94.0 102.9
Change
94.0
102.9
Data Network Services
938.8
84.91)
619.3
140.61)
12/2002
1,490.1
YIT Group total
67.2
Services for Industry
817.7
Construction Services
502.31)
Building Systems
12/2003
MEUR
1) The share of order backlog accounted for by the acquired Building Systems operations was EUR million 12/2003. Order backlog 2002 of Building Systems and Services for Industry business segments are pro forma.
20 February |
YIT CORPORATION

24. Return on investment 1994–2003 Strategic target level: 18% % 21.2 21.622 20
17.8 18
16.8
15.5 16
14.5
13.7 14
11.8 12 10 8
7.1
6.0 6 4 2
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
Strategic target level: 18%
20 February |
YIT CORPORATION

25. Equity ratio 1994–2003 Strategic target level: 40% %
20 February |
YIT CORPORATION

26. Operative cash flow before taxes 1999–2003
MEUR
170
115 *
120 80 78 59 63 70 20
1999
2000
2001
2002
2003
-30
-54
-80
*Cash flow before EUR million transaction price of Building Systems acquisition paid on August 29, 2003.
Operative cash flow before taxes = Cash flow from operating activities
+ Change in working capital + Cash flow from investing activities
20 February |
YIT CORPORATION

27. Gross capital expenditures
MEUR
% of net sales
Major acquisitions: YIT Calor (2001), YIT Primatel (2002) and YIT Building Systems (2003).
20 February |
YIT CORPORATION

28. Earnings per Share and Dividend per Share 1994–2003
EUR
2.50
2.14 *)
2.00
1.90
1.86
1.64
1.59
1.50
1.49
1.23
1.00
0.88
0.98
1.20
0.85
0.90
0.75
0.50
0.60
0.29
0.42
0.08
0.34
0.25
0.00
-0.05
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
-0.50
* excl. residual tax of EUR 10.9 million
Earnings/Share
Dividend/share
YIT´s dividend policy:
30–50% of the annual profit after taxes and
minority interests
20 February |
YIT CORPORATION

29. Expanding maintenance services
Net sales of maintenance and upkeep services and
their share of the entire Group’s net sales
MEUR
27%
24%
24%
22%
20%
20 February |
YIT CORPORATION

30. Personnel at the end of year
1994–2003
24,000
Year 2003:
growth 74%
21,939
22,000
20,000
18,000
16,000
14,000
12,633
12,000
10,264
10,000
8,282
8,605
7,655
7,536
8,000
7,116
6,421
6,000
4,225
4,000
2,000
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
20 February |
YIT CORPORATION

31. Principal shareholders Jan. 31, 2004
No %
1. Suomi Mutual Life Assur. Company 2,937,
2. Sampo Life Insurance Company Ltd 2,667,
3. Tapiola Group 2,037,
4. Varma Mutual Pension Ins. Company 2,005,
5. Pohjola Group 1,121,
6. Ilmarinen Mutual Pension Ins.Co 1,028,
7. Security Trading Ltd ,
8. Local Government Pensions Inst ,
9. Etera Mutual Pension Ins. Company ,
10. Kaleva Mutual Insurance Company ,
Nominee-registered 6,165,
Other shareholders ,431,
Total ,523,
Total number of shareholders 5,231. Nominal value of the share EUR 2.00.
Share capital EUR 61,046,750.
20 February |
YIT CORPORATION

32. Nominee-registered shareholders + other international ownership as percentage of equity
1999
2000
2001
2002
2003
2004
20 February |
YIT CORPORATION

33. Number of shareholders at the end of the year
+51%
YIT Corporation was established on September 2, 1987.
20 February |
YIT CORPORATION

34. Market Outlook The downswing in the Nordic economy is bottoming out.
Market Outlook
The downswing in the Nordic economy is bottoming out.
GDP of Nordic countries is estimated to grow by 2.5–3.0% in the next few years.
In Russia and the Baltics the growth rate is twofold.
Demand for housing is expected to continue vividly as a result of migration, interest rate level and the income development of households.
Investments for industry are expected to start up at the end of year 2004.
In Finland many large infrastructure projects within transport are starting.
20 February |
YIT CORPORATION
YIT-YHTYMÄ OYJ

35.
Future Outlook
In 2004 YIT Group’s net sales will grow significantly and pre-tax earnings is estimated to improve on last year’s figure.
The Building Systems acquisition is expected to have a positive effect on earnings per share from 2004 onwards.
YIT’s equity ratio declined due to the debt financing of the Building Systems acquisition. The aim is to return the equity ratio to the strategic target level of 40 per cent by 2006 at the latest.
20 February |
YIT CORPORATION
YIT-YHTYMÄ OYJ

36. Construction Services
YIT Group´s segments
Building Systems
Construction Services
Services for Industry
Data Network Services
20 February |
YIT CORPORATION

37. Breakdown of the net sales of Building Systems 2003
YIT Building Systems
Sweden 45%
305 MEUR
YIT A/S
Denmark 6%
37 MEUR
YIT Building Systems AS
Norway 14%
98 MEUR
YIT Kiinteistötekniikka Oy Finland1) 35%
241 MEUR
Net sales MEUR 2)
1) Includes the Russian and Baltic operations
2) Acquired Building Systems operations are consolidated into YIT Group Aug. 29 – Dec. 31, 2003
20 February |
YIT CORPORATION

38. Building Systems Integration
The integration process that started at the beginning of September has been going forward according to plans and the goals set for the first 100 days were achieved.
YIT estimates that the acquisition will yield annual synergy benefits of about EUR 10 million from 2004 onwards.
In 2003 the integration costs were EUR 5.8 million. In 2004 they are estimated to come to EUR 3 million. The main items making up the integration costs are information technology, changing the external identity of YIT and training for the personnel.
Cash flow from the acquired business operations has been at a good level as expected.
20 February |
YIT CORPORATION

39. Building Systems Action programme in Sweden
At the beginning of October, an action programme was started up to pull the acquired Building Systems business into the black in Sweden as well from 2004 onwards. The main aspects of the action programme are the reduction of fixed costs and downscaling operations to match demand in loss-making areas.
The action programme has been going forward according to plans and it affected a total of 320 people. In 2003, the costs of downscaling measures were EUR 11.5 million.
The measures aim to achieve cost-savings totalling about EUR 20 million per year. The measures will begin to have a partial influence on earnings in 2004, coming to full effect in 2005.
YIT will continue to make active outlays on the development of operations in Sweden with the aim of achieving market leadership in this field.
20 February |
YIT CORPORATION

40. Building Systems Wide range of services
Building service and upkeep
Fire protection
Plumbing & heating
Ventilation
Electrification
Automation
Energy analyses
Safety, access control
Air conditioning
Information technology
Facility maintenance
HelpDesk- and control systems
Maritime electrification
Facility management
Outsourcing
Process ventilation
Instrumentation
Surveys of building system
20 February |
YIT CORPORATION

41. Construction Services
Net sales by division 2003
Building Construction 62%
869 MEUR *)
- Residential construction 53%
International Operations 15%
204 MEUR
Infraservices 9%
126 MEUR
- Other building construction 9%
YIT Business Premises 14%
201 MEUR
Net sales 1,398.5 MEUR
*) Net sales of Building Construction include so-called double net sales related to developer contracting (sale of company-built condominium shares) of EUR million (156.6).
20 February |
YIT CORPORATION

42. Construction Services
Operating profit by division 2003
Building Construction 59%
65.8 MEUR
International Operations 32%
35.9 MEUR 1)
YIT Business Premises 7%
7.5 MEUR 1)
Infraservices 2%
2.6 MEUR
Operating profit MEUR
1) Operating profit of International Operations includes about EUR 30 million in capital gains from the sale of Makroflex. Operating profit of YIT Business Premises was reduced by the sum of EUR 5.7 million recorded as a loss by YIT on the basis of a ruling by the Helsinki District Court. The ruling concerned the conversion and additional works involved in the refurbishing of SOK’s former head office building. YIT has appealed the decision.
20 February |
YIT CORPORATION

43. Construction Services Migration between municipalities in Finland
Persons
2003:
275,157
2002:
273,026
Source: Statistics Finland Jan 21, 2004
20 February |
YIT CORPORATION

44. Housing loans and interest rates in Finland
Withdrawals of housing loans, MEUR
Average interest rate of new housing loans
MEUR
Average interest rate of housing loans, new EU-series %
Withdrawals of housing loans, MEUR, new EU-series
1,600 14
100
200
300
400
500
600
700
800
900
1,000
1,100
1,200
1,500
1,400 12
1,300 10 8 6 4 2
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
Source: Bank of Finland, Jan. 30, 2004
20 February |
YIT CORPORATION

45. Construction Services
Number of start-ups in YIT’s housing production in Finland
number
3,278
3,169
3,108
2,944
2,634
20 February |
YIT CORPORATION

46. Construction Services YIT starts up residential construction around Moscow
YIT announced on 19 December 2003 that it will commence residential construction around Moscow. YIT Construction Ltd will establish a joint venture named ZAO YIT Ramenje with the Moscow-based residential building contractor ZAO Zhilishsnaja Assosiatsija Ramenje.
The start-up of residential construction in the Moscow area is in line with YIT’s strategy and opens up significant markets for the company.
In 2004 YIT Ramenje is estimated to start about 1,400 residential units within the area around Moscow. YIT has already been building residences in St Petersburg for several years.
In 2004 YIT is estimated to start about 3,000 residential units in Russia and the Baltic countries. During the subsequent years the number of start-ups will already be higher than in Finland.
YIT also builds housing in Estonia and Lithuania.
20 February |
YIT CORPORATION

47. Services for Industry Net sales division 2003 Net sales 209.7 M€
Investments 44%
92.9 M€
Maintenance and upkeep services 56%
116.8 M€
Net sales M€
20 February |
YIT CORPORATION

48. Services for industrial investments
Maintenance
Services for industrial investments
Partnership agreements for operation of production plants
Mechanical maintenance and installations
Electrical- and automation maintenance and installations
Modernisation
Facilities operation and management
Spare-part and accessories logistics
Piping systems, pressure vessels and equipment
Steam boilers
Cisterns, gas bells, pulp towers
Appliances,modules, components for pipe systems
Electricity and automation installations
20 February |
YIT CORPORATION

49. Large investment projects to be started
Services for Industry
Large investment projects to be started
in the near future
FIN 5 Finland’s fifth nuclear power plant
Fortum Diesel in Porvoo, Finland
Process furnaces and piping, electrification, automatization
M-real Oyj
Piping and cistern deliveries to chemical mechanical pulp mill
TVO (Teollisuuden Voima)
Modernization of high-pressure turbines
Stora Enso
Bleaching plant of Summa paper mill, Finland
Soda recovery plant of Skoghall mill, Sweden
Modernization of fibre line in Kvarnsveden mill, Sweden
20 February |
YIT CORPORATION

50. Breakdown of the net sales of
Data Network Services 2003
Maintenance, repairs and subscriber deliveries 61%
79.3 MEUR
Project operations 39%
50.7 MEUR
Net sales MEUR
20 February |
YIT CORPORATION

51. Data Network Customers Users of Tele and Data Network Services
Our service strategy is to support customers’ business operations in all data networks through the whole life-cycle.
Planning
Construction
Maintenance
Operation
IT-technical support
Operators
System suppliers
Producers
Organisation`s
IT-administrations
Data Network Services
Data Network Customers
MOBILE NETWORKS
Users of Tele and Data Network Services
FIXED NETWORKS
SERVICE LINE
OPERATIONS
DATA NETWORKS
IT-support
20 February |
YIT CORPORATION

52. Implementation of IAS/IFRS-regulations
20 February |
YIT CORPORATION

53. Implementation of IAS/IFRS-regulations
YIT starts to report according to IAS/IFRS-regulation starting from 2005.
Central changes in the accounting principles are the elimination of the so-called double net sales related to developer contracting, changes in the recording of income and the recording of 10-year liabilities.
The recording of income will follow the principle of degree of completion multiplied by the degree of sale. Currently projects have been booked in the income statement on the basis of the degree of completion or the degree of sales whichever is lower.
10-year liabilities will be recorded according to IAS as provisions for liabilities and charges in the balance sheet when they currently are recorded as expenses when occurred.
The changes in the recording of income in developer contracting will reduce the total sum of the balance sheet.
20 February |
YIT CORPORATION

54. Financial figures 2003
20 February |
YIT CORPORATION

55. Key Figures 2003 2002 Change Return on investment 16.8% 17.8%
Return on equity
12.5%
12.2%
Net interest-bearing debt, EUR mill.
204.4
104.1
96%
Equity ratio
28.3%
38.2%
Gearing ratio
49.6%
28.2%
Earnings/share, EUR
1.64
1.49
10%
Equity/share, EUR
13.38
12.54 7%
Dividend/share, EUR
1.20*)
0.90
33%
Dividend/earnings
73.2%
60.4%
YIT-share closing rate EUR, 12/31/2003
26.90
16.79
60%
Capital expenditures, MEUR
232.9
60.6
284%
Backlog of orders, EUR million
1,490.1
938.8
59%
Personnel 12/31/2003
21,939
12,633
74%
*) Proposal of Board of Directors
20 February |
YIT CORPORATION

56. Net sales 1994–2003 MEUR International Finland 2,500 2,250 2,000 1,750
2,398.7
2,250
2,000
1,763.0
1,623.1
1,750
1,500
1,717.2
1,222.1
1,235.4
1,167.7
1,250
941.4
876.3
1,376.1
1,000
1,292.6
660.0
750
545.6
967.7
1,056.8
1,089.0
500
718.9
770.3
503.8
410.4
672.5
250
330.5
386.9
135.2
156.2
157.4
171.1
200.0
165.3
146.4
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
International
Finland
20 February |
YIT CORPORATION

57. of which net sales outside Finland 672.5 MEUR
Net sales by business segment 2003
Building Systems 28%
681 MEUR *)
Data Network Services 5%
130 MEUR
Services for Industry 9%
210 MEUR
Construction Services 58%
1,399 MEUR
Total 2,389.7 MEUR,
of which net sales outside Finland MEUR
*) Acquired Building Systems operations are consolidated into YIT Group Aug. 29 – Dec. 31, 2003.
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YIT CORPORATION

58. of which net sales outside Finland 672.5 MEUR
Net sales by country 2003
Finland 72%
1,717 MEUR
Other countries 1%
35 MEUR
Russia 3%
79 MEUR
Baltic countries 5%
112 MEUR
Other Nordic countries 19%
446 MEUR
Total 2,389.7 MEUR,
of which net sales outside Finland MEUR
Acquired Building Systems operations in Finland, Sweden, Norway, Denmark, Russia and the Baltic states are consolidated into YIT Group Aug. 29 – Dec. 31, 2003.
20 February |
YIT CORPORATION

59. Operating profit by business segment 2003
MEUR
Building Systems1)
Construction Services2)
Services for Industry
Data Network Services
Other items
Operating profit 98.6 MEUR
1) Operating profit of Building Systems business segment is burdened by EUR 5.8 million integration costs and EUR 11.5 million downscaling expenses of acquired Building Systems business operations in Sweden.
2) Operating profit of International Operations includes about EUR 30 million in capital gains from the sale of Makroflex. Operating profit of YIT Business Premises was reduced by the sum of EUR 5.7 million recorded as a loss by YIT on the basis of a ruling by the Helsinki District Court. The ruling concerned the conversion and additional works involved in the refurbishing of SOK’s former head office building. YIT has appealed the decision.
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YIT CORPORATION

60. Net sales by quarter
MEUR
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YIT CORPORATION

61. Operating profit by quarter
MEUR
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YIT CORPORATION

62. Order backlog by business segment
December 31, 2003
Building Systems 34%
502 MEUR *)
Data Network Services 7%
103 MEUR
Services for Industry 4%
67 MEUR
Construction Services 55%
818 MEUR
Total order backlog 1,490.1 MEUR,
of which order backlog outside Finland MEUR
* The share of the order backlog accounted for by the acquired Building Systems operations was EUR million 12/2003.
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YIT CORPORATION

63. Order backlog by quarter 1999–2003, MEUR at the end of period
1,600
1,490.1
1,400
1,200
1,000
800
600
400
200
1999
2000
2001
2002
2003
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YIT CORPORATION

64. Average personnel
1999–2003
16,212
11,990
10,118
8,721
8,189
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YIT CORPORATION

65. Personnel by business segment
December 31, 2003
Building Systems 54%
11,812
Corporate services 1%
279
Data Network Services 7%
1,463
Services for Industry 14%
3,117
Construction Services 24%
5,268
Total 21,939
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YIT CORPORATION

66. Personnel by country December 31, 2003 Total 21,939 Finland 55% 12,115
Russia 3% 701
Denmark 5% 1,008
Baltic countries 5%
1,117
Norway 12%
2,719
Sweden 20%
4,279
Total 21,939
20 February |
YIT CORPORATION

67. Corporate Communications
More information
on our site at
Veikko Myllyperkiö
Vice President,
Corporate Communications
tel
mobile
fax
Esko Mäkelä Executive Vice President
tel fax
Petra Thorén Manager, Investor Relations tel mobile fax
20 February |
YIT CORPORATION