September 26th, 2007
YITS Capital Markets Day in London, Sept. 26, 2007:
YIT continues to pursue its set targets
YIT Corporations Board of Directors has confirmed the Groups strategy and financial targets for the period 2008-2010. The YIT Groups strategic target is profitable growth. Over the next few years, the Group will bolster its operations in its current business countries. In addition, the Group will seek to expand its geographical scope during the strategy period.
Strategic target levels are unchanged
The YIT Groups financial target levels were confirmed unchanged for the 2008-2010 strategy period. The targets are: average annual revenue growth of 10 per cent, operating profit of 9 per cent of revenue, return on investment of 22 per cent, equity ratio of 35 per cent and a dividend payout ratio of 40-60 per cent of earnings after taxes and minority interest. In addition, YIT has set the target of increasing revenue in Russia by an average of 50 per cent annually during the 2006-2009 period.
Bolstering business operations in current business countries
The Building Systems business segment aims to increase its market share in its whole territory: the Nordic and Baltic countries and Russia. Growth focuses on the Nordic countries. Service portfolios will be rounded out both organically and through acquisitions.
In Construction Services, growth focuses on Russia and increasing the real estate development projects. Residential development will be increased in Russia by strengthening YITs presence in its current business cities and carrying on with expansion into other Russian cities with populations in excess of a million.
The strategic focus of the Industrial and Network Services business segment is maintenance services outsourced by industry in Finland.
In Construction Services the aim is to expand operations geographically during the strategy period by setting up joint ventures or through acquisitions. The aim is to start up residential development in central Eastern Europe, where, as in Russia, there is a need to improve living conditions. Building Systems will assess opportunities for enlarging its offerings in Western Europe through acquisitions. Geographical expansion is geared towards establishing a presence in growing markets and maintaining a balanced business structure.
About Nokia Siemens Networks
Konecranes is a world-leading group of Lifting Businesses', serving a broad range of customers, including manufacturing and process industries, shipyards, ports and terminals. Konecranes provides productivity-enhancing lifting solutions and services for lifting equipment of every make. In 2006, Group sales totalled EUR 1483 million. The Group has 7,800 employees, at more than 370 locations in 41 countries. Konecranes is listed on the OMX Helsinki Stock Exchange (symbol: KCR1V).
Capital Markets Day materials
Today, September 26, 2007, YIT will hold a Capital Markets Day for investors and analysts in London. At the event, Group CEO Hannu Leinonen and the heads of the business segments will present YITs strategy. YITs Capital Markets Day materials are available on the companys Internet site at www.yitgroup.com/investors.
Sakari Toikkanen, Executive Vice President, YIT Corporation, tel. +358 20 433 2336, firstname.lastname@example.org
Petra Thorén, Vice President, Investor Relations, YIT Corporation, tel. +358 40 764 5462, email@example.com
OMX Nordic Exchange in Helsinki,
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