1. YIT Corporation Interim Report
January – September 2001 1 1 1 1

2. GROUP STRUCTURE YIT CORPORATION Reino Hanhinen Group Administration
Corporate Services
YIT CONSTRUCTION LTD
Ilpo Jalasjoki
YIT INSTALLATION LTD
Juhani Pitkäkoski
Technical Building Services (HEPACE)
Maintenance and Operation Services for Industry
Investment and Upkeep Services for Industry
Residential Construction
Building Construction
Property Services
Infraservices
International Operations
Net sales Jan-Sep/ EUR 703 mill Net sales Jan-Sep/2001 EUR 460 mill. Personnel Sep/ ,300 Personnel Sep/ ,700

3. CONSOLIDATED INCOME STATEMENT
(EUR million)
Jan -
Sep/
2001
2000
change %
Dec/
Net sales
1,162.9
895.7 30
1,235.4
of which international
operations
210.2
107.2 96
146.4
Operating income and
expenses
1,070.7
811.5 32
1,126.8
Depreciation and write
downs
18.7
13.6 38
18.9
Operating profit
73.5
70.6 4
89.7
% of net sales
6.3
7.9 ..
7.3
Financial income and
expenses, net
8.5
6.9 23
10.2
Profit before
extraordinary items
65.0
63.7 2
79.5
5.6
7.1
6.4
Extraordinary in
come
Extraordinary expenses
0.1
Profit before taxes
79.4
Profit for the report period
45.5
46.2 - 2
54.7
The figures for the comparison period in 2000 are pro forma.

4. CONSOLIDATED BALANCE SHEET
(EUR million)
Sep/
Sep/
change
Dec/
2001
2000 %
2000
ASSETS
Intangible assets
55.3
23.7
133
23.8
Tangible assets
60.2
85.4 - 30
85.2
Investments
Own shares
4.0
6.6 - 39
7.8
Other investments
9.0
13.4 - 33
11.0
Inventories
237.6
215.6 1
249.4
Receivables
484.4
470.3 3
411.0
Marketable
securities
10.9
3.4
221
1.4
Cash and cash
equivalents
15.5
15.1 3
11.2
Total assets
876.9
833.5 5
800.8

5. CONSOLIDATED BALANCE SHEET
(EUR million)
Sep/
Sep/
change
Dec/
2001
2000 %
2000
LIABILITIES
Share capital
58.8
58.8
58.8
Other shareholders’
equity
275.3
243.1 13
250.2
Minority interests
1.7
1.2 42
1.6
Provisions for
liabilities and charges
10.5
6.7 57
6.9
Long -
term liabilities
143.8
125.1 15
92.5
Current liabilities
386.8
398.6 - 3
390.8
Total shareholders’
equity and liabilities
876.9
833.5 5
800.8

6. KEY FIGURES Sep/ Sep/ change Dec/ 2001 2000 % 2000
Earnings per share, EUR
1.58
1.61 - 2
1.90
Equity per share, EUR
11.36
10.28 11
10.52
Net interest -
bearing debt,
EUR million
121.9
162.6 - 25
115.4
Equity ratio, %
40.2
37.9 ..
40.2
Gearing ratio, %
36.7
54.8 ..
38.1
Backlog of orders,
EUR million
737.7
638.5 16
574.7
Average share price
during the period, EUR
12.86
12.71 1
12.73
Market capitalization,
EUR million
327.0
384.9 - 15
389.3
Average personnel
10,105
8,158 24
8,189

7. NET SALES BY DIVISION YIT Construction Subgroup
(EUR million)
Jan -
Sep/
Jan -
Sep/
change
Oct/2000 -
Jan -
Dec/
2001
2000 %
Sep/2001
2000
YIT Construction
Subgroup
YIT Building Construction
422.1
378.5 12
559.7
516.1
YIT Property Services
134.6
92.8 45
167.7
125.9
YIT Infraservices
90.9
96.8 - 6
122. 2
128.1
YIT Internat. Operations
66.5
66.7
98.5
98.7
YIT Installation
Subgroup
460.3
268.1 72
596.6
377.4
Other items -
11.5 -
7.2 60 -
15.1 -
10.8
YIT Group, total
1,162.9
895.7 30
1,502.6
1,235.4

8. share of international business EUR 210 million
NET SALES BY DIVISION
Jan – Sep/2001
YIT Building Construction
EUR 422 million (35%)
YIT Property Services
EUR 135 million (11%)
YIT Installation
EUR 460 million (40%)
YIT Infraservices
EUR 91 million (8%)
YIT International Operations
EUR 67 million (6%)
Total EUR 1,163 million
share of international business EUR 210 million

9. OPERATING PROFIT BY DIVISION
(EUR million)
Jan -
Sep/
Jan -
Sep/
change
Oct/2000 -
Jan -
Dec/
2001
2000 %
Sep/2001
2000
YIT Construction
Subgroup
YIT Building Construction
35.5
38.0 - 7
45.2
47.7
YIT Property Services
19.2
12.2 57
20.1
13.1
YIT Infraservices
3.4
2.1 62
3.9
2.6
YIT
Internat. Operations
3.7
2.7 37
5.5
4.5
YIT Construction
Subgroup, total
57.7
54.1 7
70.5
66.9
YIT Installation
18.7
16.2 15
24.0
21.5
Subgroup
Other items -
2.9
0.3 .. -
1.9
1.3
YIT Group, total
73.5
70.6 4
92.6
89.7

10. BACKLOG OF ORDERS BY DIVISION
(EUR million)
Sep/
Sep/
change
Dec/
2001
2000 %
2000
YIT Construction
Subgroup
YIT Building Construction
257.4
253.8 1
221.8
YIT Property Services
138.3
121.0 14
109.0
YIT Infraservices
49.3
57.3 - 14
54.0
YIT Internat. Operations
87.5
52.9 65
50.8
YIT Installation
Subgroup
205.2
153.5 34
139.1
YIT Group, total
737.7
638.5 16
574.7

11. BACKLOG OF ORDERS BY QUARTER 1996 – 2001 EUR million at end of period
800
700
600
500
400
300
200
100
1996
1997
1998
1999
2000
2001

12. STRONG GROWTH IN INDUSTRIAL, PROPERTY AND INFRASTRUCTURE
MAINTENANCE SERVICES
Measures
Facility Management (Rapido, Optum 1999)
Maintenance of infrastructure
- public road maintenance
opened to competition
Industrial maintenance
- Scandinavian Mill
Service
- several acquisitions
Calor
Servicing and maintenance
business
% of
net sales
EUR million

13. TARGET LEVELS FOR FINANCIAL
INDICATORS
Annual growth in net sales %
Return on investment 18%
Equity ratio 45%
Dividend payout % of the annual profit
after taxes and minority interests

14. NET SALES AND OPERATING PROFIT 1996 – Jan - Sep/2001
Net sales (EUR million)
Operating profit (EUR million)
1-9
1-9
1-9
1-9
Target level: Annual growth %

15. RETURN ON INVESTMENT 1996 - 2000 AND EQUITY RATIO 1996 – Sep/2001
9/00
9/01
Target level: 18%
Target level: 45%

16. NET SALES BY QUARTER 2000 – 2001 EUR million 430.3 377.2 355.4 339.7
315.6
298.6
281.5
Figures for 2000 are pro forma.

17. OPERATING PROFIT BY QUARTER 2000 - 2001
EUR million
30.2
29.4
24.6
19.3
19.5
21.1
19.0

18. NET SALES BY QUARTER 1999 - 2001 EUR million
Figures for 1999 and 2000 are pro forma.

19. OPERATING PROFIT BY QUARTER 1999 - 2001
EUR million

20. EARNINGS PER SHARE AND EQUITY PER SHARE 1996 – Sep/2001
Earnings per share, EUR
Equity per share, EUR
9/00
9/01
9/00
9/01

21. NET INTEREST-BEARING DEBT AND GEARING RATIO 1996 –Sep/2001
Net debt (EUR mill.)
Gearing ratio, %
9/00
9/01
9/00
9/01

22. PRINCIPAL SHAREHOLDERS
October 31, 2001
No %
1. Tapiola Group 4,532,
2. Sampo Group 2,767,
3. Pohjola Group 2,730,
4. Suomi Companies ,347,
5. Varma-Sampo Mutual Pension Ins.Co 2,161,
6. Fidelity Investments (nominee-registered) 1,674,
7. Ilmarinen Mutual Pension Ins.Co 1,175,
8. Local Government Pensions Inst ,
9. Kaleva Mutual Insurance Company ,
10. OKOBANK Group ,
11. YIT Corporation ,
Other nominee-registered 2,592,
Other shareholders 7,025,
Total ,383,
Total number of shareholders 2,959. Nominal value of the share 2 euros.
Share capital EUR 58,767,370.

23. YIT SHARE AND HEX PORTFOLIO INDEX,
RELATIVE DEVELOPMENT
YIT
HEX

24. DIVIDEND PAYOUT 1996 - 2000 Dividend per share, EUR Dividend payout
% of annual profit
YIT’s dividend policy:
% of the annual profit after
taxes and minority interests

25. Vol.index 1985 = 100, season adjusted
TOTAL OUTPUT
BY MAIN BRANCHES
Vol.index 1985 = 100, season adjusted
Industry
GDP
Services
Construction
Source: Statistics Finland/TT, the Confederation of Finnish Industry
and Employers, Oct. 2001

26. Quarterly, Seasonally Adjusted
TOTAL OUTPUT
Quarterly, Seasonally Adjusted
FIM bn
FIM bn
Source: Etla, the Research Institute of the Finnish Economy, Sept. 2001

27. GDP AND CONSTRUCTION IN FINLAND
Change from the previous year % 20 15 14 11 10 10 10
5.5 6 5
5.3
5.7
4.5 5
4.8 5 4 5
3.5 3
4.2 2
1.5 2 -1 -5 -3 -1 -3
-3.5
-10 -7
-15
-15
-16
-20
-17
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001*
2002*
*estimate
GDP
Construction
Source: Statistics Finland/Confederation of Finnish Construction
Industries’ estimate, Oct. 2001

28. MUNICIPALITIES IN FINLAND
MIGRATION BETWEEN
MUNICIPALITIES IN FINLAND
persons
1-9/2001:
225,600
1-9/2000:
201,500
(increase
12%)
Source: Statistics Finland/Confederation of
Finnish Construction Industries, Oct. 2001

29. HOUSING PRODUCTION IN FINLAND 1970 - 2002
Number of completed
housing units E
Source: Confederation of Finnish Construction
Industries, Sept. 2001

30. NEW HOUSING LOAN LENDING RATES AND WITHDRAWALS
FIM mill. %
Source: Bank of Finland, Oct

31. CONSUMERS’ ESTIMATE OF THEIR OWN HOUSEHOLDS’ AND FINLAND’S ECONOMIC
SITUATION IN 12 MONTHS’ TIME
Balance figure
Economy becomes
better
Economy becomes
weaker
Source: Statistics Finland’s Consumer Survey,
Oct. 2001

32. FINNISH HOUSEHOLDS’ INTENTIONS TO PURCHASE OR CHANGE A DWELLING
IN THE NEXT 12 MONTHS
Percentage of
households
Source: Statistics Finland’s Consumer Survey,
Oct. 2001

33. HOUSEHOLDS’ DISPOSABLE INCOME
PRICES OF DWELLINGS/
HOUSEHOLDS’ DISPOSABLE INCOME
Standardized price/square meter
0.20
0.18
0.16
0.14
0.12
0.10
0.08
0.06
Source: Bank of Finland, Aug. 2001

34. VACANCY RATES IN THE GREATER HELSINKI AREA 1990 - 2001
Source: Catella Property Consultants, Sept

35. CONSTRUCTION OUTPUT IN SWEDEN 1995 – 2005
Forecasts
SEK bn
Residences
Offices, hospitals etc.
Industry
Source: Sveriges Byggindustrier

36. INDUSTRY’S INVESTMENTS Tangible investments/Statistics Finland
FIM billion, current prices
TT’s Investment Survey
Tangible investments/Statistics Finland
Source: Statistics Finland and TT, June 2001

37. STRENGTHENING OF YIT INSTALLATION’S POSITION IN THE NORDIC MARKET
Finland
- several acquisitions
- e.g. technical building
service systems
- industrial piping and tanks
Other Nordic countries
- Calor, Sweden
- YIT Industrier AS, Bergen,
Norway

38. YIT CONSTRUCTION LTD’S SUBSIDIARIES
IN RUSSIA AND IN THE BALTIC COUNTRIES
Russia
ZAO Lentek, St. Petersburg
ZAO YIT Peter, St. Petersburg
ZAO YIT Genstroi, Moscow
ZAO Makroflex, Moscow
Baltic countries and Poland
AS FKSM, Tallinn, Estonia
AS Makroflex, Tallinn, Estonia
YIT Universaalehituse AS,
Tallinn, Estonia
YIT Latvija SIA, Riga, Latvia
AB Kausta, Kaunas, Lithuania
YIT UAB, Vilnius, Lithuania
YIT Polska sp. zo.o.,
Crakow, Poland
Personnel about 1,100

39. FROM THE CONSTRUCTOR TO THE SERVICE COMPANY OF THE 2000’S
YIT’s strategic path
Sale of surface treatment
business 2001
Sale of steel sturcture
business 1999
Calor AB (1/2001)
YIT Building Warranty (10/2000)
Sale of asphalting
business1997
YIT Smart (9/2000)
Sonera Living Oy (6/2000)
Facility Management (Rapido 5/1999, Optum 6/1999 etc.)
YIT Home –service concept (from 1998)
Maintenance of infrastructure (1995)
HEPACE (several acquisitions, first acquisition Huber 1995)
Yleinen Insinööritoimisto, establ. 1912
Capital investment services and maintenance for industry (PPTH 1976, Huber 1995)

40. EXAMPLES OF P/E MULTIPLES IN COMPARABLE COMPANIES Construction/Service Companies
2000
2001E
ACS, Spain
15.4
14.3
Amec, Great Britain
20.5
17.8
Balfour Beatty, Great Br.
11.3
12.0
Carillion, Great Britain
12.1
Dragados, Spain
11.9
John Mowlem, Great Br.
25.9
13.0
VWS, Netherlands
7.5
6.7
Average
15.3
12.6
YIT
7.2
6.5
Skanska, Sweden
7.3
20.8
Source: ABN AMRO/Alfred Berg, Sept. 2001

41. YIT’S BASIC MESSAGES YIT shares provide a good yield.
Membership of EMU has significantly lessened the construction industry’s cyclical sensitivity.
YIT is less affected by cyclical fluctuations than the construction industry.
A significant and growing share of YIT’s net sales is generated by its maintenance business
Over half of YIT’s 10,000 employees work in industrial and property technology installation and maintenance tasks.
YIT’s services encompass the entire life cycle on an investment.
YIT’s business operations are growing in the Nordic installation market and the Baltic construction market.
YIT has operated in Russia for 40 years, and is thus well poised to tap into large potential markets.
2,600 YIT employees work abroad (7,600 in Finland).
YIT is the technology leader in its field of business.

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