English Finnish
Published: 2010-02-04 07:00:00 CET
YIT
Financial Statement Release
YIT's Financial Statements for 2009:
YIT CORPORATION   FINANCIAL STATEMENTS BULLETIN      Feb 4, 2010 at 8:00 a.m.  


YIT's Financial Statements for 2009:                                       
    
OPERATING PROFIT IMPROVED IN EVERY QUARTER - YIT ESTIMATES THAT IN 2010
REVENUE 
WILL GROW AND PROFIT BEFORE TAXES WILL GROW SIGNIFICANTLY            
          

Development during October-December compared to previous quarter:
              
- Revenue increased by 18 per cent to EUR 960.5 million
(7-9/2009: EUR 815.0    
million).                                            
                          
- Operating profit increased by 31 per cent to EUR
59.7 million (7-9/2009: EUR  
45.6 million).                                  
                               
- Operating profit margin was 6.2 (7-9/2009:
5.6%)                              
- Profit before taxes increased by 66 per
cent to EUR 49.5 million (7-9/2009:   
EUR 29.9 million).                     
                                        
- Operating cash flow after
investments amounted to EUR 143.8 million (7-9:2009:
EUR 29.5 million).       
                                                      

Development in 2009
compared to previous year:                                  
- Revenue
decreased by 12 per cent to EUR 3,452.4 million (1-12/2008: EUR       
3,939.7
million).                                                               
-
Operating profit decreased by 36 per cent to EUR 165.5 million (EUR 260.6    

million).                                                                    
  
- Operating profit margin was 4.8 (6.6%).                                  
    
- Profit before taxes decreased by 45 per cent to EUR 106.9 million (EUR
193.1  
million).                                                             
         
- Operating cash flow after investments amounted to EUR 211.4
million (EUR -19.4
million).                                                  
                    
- Return on investment was 10.9% (17.5%).                
                      
- Equity ratio was 33.8 per cent (30.7%).              
                        
- Gearing ratio decreased to 62.2% at year's end
(79.8%).                       
- Service and maintenance operations generated
EUR 1,201.3 million (2008: EUR   
1,299.2 million), in other words, 35 per
cent (33%) of Group revenue. The       
Building and Industrial Services
segment accounted for the majority of service  
and maintenance operations; 54
per cent (53 %) of its revenue was generated by  
service and maintenance
operations.                                             
- In Finland, YIT
sold a total of 3,502 (1,920) residential units during the    
year, of which
1,567 (1,462) were own development targeted directly at consumers
and 1,935
(458) were rental housing for investors. YIT started up the          

construction of a total of 3,447 (1,542) residential units in Finland during 
  
2009, of which 1,528 (1,084) were own housing development project aimed at 
    
consumers.                                                               
      
- In Russia, YIT sold a total of 2,612 (2,793) residential units and in
the     
Baltic countries 256 (733) residential units. In Russia, YIT started
up the     
construction of a total of 672 (3,622) residential units. In
Baltic countries   
there were no residential start-ups.                      
                     
- Order backlog decreased by 14 per cent to EUR 2,773.6
million (EUR 3,233.7    
million).                                            
                          
- The number of personnel decreased by 9 per cent
to 23,480 (25,784) at year's  
end.                                           
                                
- The Board of Directors proposes to the
Annual General Meeting that a dividend 
of EUR 0.40 per share (EUR 0.50) be
paid for the 2009 financial year,           
representing 74.9 per cent
(47.6%) of earnings per share.                       

Focus on profitability
and operating cash flow in 2009                          

In 2009's
challenging market situation the Group's actions focused on          

accelerating sales and enhancing profitability and cash flow. The operating  
  
profit and profitability of the Group increased in every quarter of 2009.
The   
operating profit for the fourth quarter was clearly better than for the
previous
quarter or the corresponding period the year before. Operating cash
flow after  
investments was good throughout the year and very strong during
the fourth      
quarter. The company's financial position was good at year's
end.               

Profit improvement during 2009 was affected by the
recovery in residential sales
in Finland and Russia. The profitability of
Building and Industrial Services'   
business operations was stable in
January-September and improved during the     
fourth quarter. The operating
profit of Construction Services Finland remained  
stable throughout the year.
The operating profit of International Construction  
Services remained
negative as a whole, but turned to positive figures during the
third quarter
and improved further in October-December.                         

The
amount of Group's invested capital decreased. Invested capital decreased in

Construction Services Finland. In Russia, the invested capital decreased     
  
slightly during the last quarter. At the end of the year, 40 per cent of
the    
Group's invested capital was tied up in Russia. Group's operations
were         
streamlined by cutting annual fixed costs by approximately EUR
60 million and   
adjusting the number of personnel to match the market
conditions.               

Growth target was raised                         
                              

Revenue and order backlog decreased on the
previous year. A clear decrease in   
business premises construction reduced
the project activity in Building and     
Industrial Services and affected
Construction Services Finland. The demand for  
service and maintenance
operations for buildings and industry as well as        
infrastructure
construction remained relatively stable. Residential demand      
picked up
during the year in both Finland and Russia. In the Baltic countries  

construction activity was clearly at a lower level than the year before.     
  

The Group's annual revenue growth target was increased to 5-10 per cent
on      
average. Previously, the target was positive growth in revenue.
Residential     
start-ups were increased in Finland in each quarter of the
year to secure       
growth. YIT is prepared for growth also in Russia and
new residential projects  
were started up during the later part of the year.
YIT has a versatile portfolio
of apartments under construction both in Finland
and Russia. The company's      
market share has increased due to good
residential sales and increased          
residential start-ups. In Building
and Industrial Services the focus of         
operations has been shifted to
service and maintenance as well as renovation and
modernisation projects,
which offers a good starting point for year 2010.       

Outlook for 2010   
                                                            

YIT Corporation
estimates that the Group's revenue will increase and profit     
before taxes
will increase significantly in 2010 compared to 2009.              

The
demand for housing is expected to remain good in 2010 in Finland as well as

Russia.                                                                      
  

In Finland, the residential demand is supported by low interest rates,
increased
consumer confidence and structural factors, such as migration,
increasing       
population and decreasing family sizes. The price level of
apartments has       
developed positively. There is a low supply of new
residential units in the     
market. YIT has started up new residential
projects in 2009, which offers a     
solid starting point for 2010. At the
end of 2009, YIT had 3,773 residential    
units under construction. There
were 1,061 residential units on sale, of which  
216 had been completed. Good
plot reserves, geographically extensive operations 
and the ability to react
swiftly to changes in the market enable YIT to increase
residential
development activity in 2010.                                       

There
is a great need for new housing in Russia, and therefore the demand      

outlook for residential units aimed at YIT's customer segment is unchanged in
  
the long term. At the end of 2009, housing prices have stabilized and
consumer  
confidence has increased. New residential projects have been
started up in the  
market, but the supply is still limited. At the end of
2009, YIT had 4,174      
residential units under construction. There were
3,603 residential units on     
sale, of which 1,243 had been completed. YIT
has improved its reputation as a   
reliable construction company and
developed its sales process. The company has  
increased the availability of
loans for its customers through co-operation with 
banks. YIT started new
residential projects during the last months of 2009 and  
in 2010 the
residential start-ups are increased responding to the market
demand.

Residential demand is affected by consumer confidence, employment
situation and 
interest rate development both in Finland and Russia.
Additionally, in Russia   
the residential demand is dependent on oil prices
and the exchange rate of the  
ruble.                                         
                                
The opportunities for organic growth in
Building and Industrial Services are    
supported by the need for service and
maintenance as well as renovation and     
public sector projects. There is a
large number of small companies operating in 
building system markets and the
consolidation development provides opportunities
for acquisitions. Industrial
investments are low in Finland, but the demand for 
industrial maintenance
services will continue relatively stable. New investments
in technical
building systems will decrease in all YIT markets, particularly due
to the low
volumes of business premises construction. YIT has an extensive      
network
of local offices in the markets where it operates and a solid market   

position in building system and industrial service and maintenance
operations,  
projects and energy-efficiency services.                        
               

New projects related to transportation will begin in the
Finnish infrastructure 
market in 2010; at the same time the demand in the
municipal sector will        
decrease. Opportunities will also open in
connection with road and regional     
maintenance contracts. YIT has
large-scale route projects underway in           
infrastructure services. The
Group has special expertise in infrastructure and a
solid position as
Finland's largest private provider of road maintenance        
services.      
                                                                

Group key
figures                                                              
     
------------------------------------------------------------------------------
     --
|
              | 1-12 | 1-12 | Change |    | 1-3/0 | 4-6/09 | 7-9/09 | 10-12/
|
|               |  /09 |  /08 |  1-12/ |    |     9 |        |        |    
09 |
|               |      |      |   08 - |    |       |        |        |  
     |
|               |      |      | 1-12/0 |    |       |        |        |
       |
|               |      |      |      9 |    |       |        |       
|       
     |
-----------------------------------------------------------------------------
     ---
|
Revenue, MEUR | 3,45 | 3,93 |   -12% |    | 823.7 |  853.1 |  815.0 |  960.5
|
|               |  2.4 |  9.7 |        |    |       |        |        |     
 
     |
-----------------------------------------------------------------------------
     ---
|
Operating     | 165. | 260. |   -36% |    |  22.1 |   38.1 |   45.6 |   59.7
|
| profit, MEUR  |    5 |    6 |        |    |       |        |        |     
 
     |
-----------------------------------------------------------------------------
     ---
|
Operating     | 4.8% | 6.6% |      - |    |   2.7 |    4.5 |    5.6 |    6.2
|
| profit        |      |      |        |    |       |        |        |     
  |
| margin, %     |      |      |        |    |       |        |        |   
   
     |
-----------------------------------------------------------------------------
     ---
|
Profit before | 106. | 193. |   -45% |    |   2.2 |   25.2 |   29.9 |   49.5
|
| taxes, MEUR   |    9 |    1 |        |    |       |        |        |     
 
     |
-----------------------------------------------------------------------------
     ---
|
Earnings/shar | 0.53 | 1.05 |   -50% |    |  0.02 |   0.12 |   0.15 |   0.24
|
| e, EUR        |      |      |        |    |       |        |        |     
 
     |
-----------------------------------------------------------------------------
     ---
|
Return on     | 10.9 | 17.5 |      - |    |  14.3 |   11.4 |    9.8 |   10.9
|
| investment    |      |      |        |    |       |        |        |     
  |
| (from the     |      |      |        |    |       |        |        |   
    |
| last 12       |      |      |        |    |       |        |        | 
      |
| months), %    |      |      |        |    |       |        |       
|       
     |
-----------------------------------------------------------------------------
     ---
|
Gearing ratio | 62.2 | 79.8 |      - |    |  88.5 |   90.6 |   83.8 |   62.2
|
| at end of     |      |      |        |    |       |        |        |     
  |
| period, %     |      |      |        |    |       |        |        |   
   
     |
-----------------------------------------------------------------------------
     ---
|
Operating     | 211. | -19. |      - |    |  10.3 |   27.8 |   29.5 |  143.8
|
| cash flow     |    4 |    4 |        |    |       |        |        |     
  |
| after         |      |      |        |    |       |        |        |   
    |
| investments,  |      |      |        |    |       |        |        | 
      |
| MEUR.         |      |      |        |    |       |        |       
|       
     |
-----------------------------------------------------------------------------
     ---
|
Order backlog | 2,77 | 3,23 |   -14% |    | 3,045 | 2,916. | 2,800. |  2,773
|
| at end of     |  3.6 |  3.7 |        |    |    .0 |      4 |      8 |    
.6 |
| period, MEUR  |      |      |        |    |       |        |        |  
    
     |
-----------------------------------------------------------------------------
     ---
|
Personnel at  | 23,4 | 25,7 |    -9% |    | 25,23 | 24,763 | 24,003 | 23,480
|
| end of period |   80 |   84 |        |    |     9 |        |        |     
 
     |
-----------------------------------------------------------------------------
     ---

Segment
key figures:                                                           
     
------------------------------------------------------------------------------
     --
|
              | 1-12 | 1-12 | Change |    | 1-3/0 | 4-6/09 | 7-9/09 | 10-12/
|
|               |  /09 |  /08 |  1-12/ |    |     9 |        |        |    
09 |
|               |      |      |   08 - |    |       |        |        |  
     |
|               |      |      | 1-12/0 |    |       |        |        |
       |
|               |      |      |      9 |    |       |        |       
|       
     |
-----------------------------------------------------------------------------
     ---
|
Building and  |      |      |        |    |       |        |        |       
|
| Industrial    |      |      |        |    |       |        |        |     
  |
| Services      |      |      |        |    |       |        |        |   
   
     |
-----------------------------------------------------------------------------
     ---
|
Revenue, MEUR | 2,12 | 2,39 |   -11% |    | 537.9 |  529.2 |  483.9 |  573.9
|
|               |  4.9 |  6.0 |        |    |       |        |        |     
 
     |
-----------------------------------------------------------------------------
     ---
|
Operating     | 119. | 162. |   -26% |    |  28.6 |   28.2 |   24.9 |   37.6
|
| profit, MEUR  |    3 |    0 |        |    |       |        |        |     
 
     |
-----------------------------------------------------------------------------
     ---
|
Operating     | 5.6% | 6.7% |     -  |    |   5.3 |    5.3 |    5.1 |    6.6
|
| profit        |      |      |        |    |       |        |        |     
  |
| margin, %     |      |      |        |    |       |        |        |   
   
     |
-----------------------------------------------------------------------------
     ---
|
Construction  |      |      |        |    |       |        |        |       
|
| Services      |      |      |        |    |       |        |        |     
  |
| Finland       |      |      |        |    |       |        |        |   
   
     |
-----------------------------------------------------------------------------
     ---
|
Revenue, MEUR | 1,02 | 1,14 |   -10% |    | 239.8 |  253.0 |  246.3 |  290.6
|
|               |  9.7 |  7.9 |        |    |       |        |        |     
 
     |
-----------------------------------------------------------------------------
     ---
|
Operating     | 81.9 | 111. |   -27% |    |  20.9 |   19.9 |   20.8 |   20.3
|
| profit, MEUR  |      |    7 |        |    |       |        |        |     
 
     |
-----------------------------------------------------------------------------
     ---
|
Operating     | 8.0% | 9.7% |      - |    |   8.7 |    7.9 |    8.4 |    7.0
|
| profit        |      |      |        |    |       |        |        |     
  |
| margin, %     |      |      |        |    |       |        |        |   
   
     |
-----------------------------------------------------------------------------
     ---
|
International |      |      |        |    |       |        |        |       
|
| Construction  |      |      |        |    |       |        |        |     
  |
| Services      |      |      |        |    |       |        |        |   
   
     |
-----------------------------------------------------------------------------
     ---
|
Revenue, MEUR | 359. | 493. |   -27% |    |  61.4 |   87.4 |   97.6 |  113.0
|
|               |    4 |    5 |        |    |       |        |        |     
 
     |
-----------------------------------------------------------------------------
     ---
|
Operating     | -17. |  9.0 |  -298% |    | -23.8 |   -5.2 |    3.7 |    7.5
|
| profit, MEUR  |    8 |      |        |    |       |        |        |     
 
     |
-----------------------------------------------------------------------------
     ---
|
Operating     | -5.0 | 1.8% |      - |    | -38.7 |   -5.9 |    3.8 |    6.6
|
| profit        |    % |      |        |    |       |        |        |     
  |
| margin, %     |      |      |        |    |       |        |        |   
   
     |
-----------------------------------------------------------------------------
     ---


Information
session, webcast and conference call                                

YIT
will hold an information session for investors, analysts and the media on  

Thursday, February 4, 2010 at 10:00 a.m. (Finnish time, EEST) at YIT's head  
  
office, address Panuntie 11, 00620 Helsinki, Finland. The information
session   
will be held in English. After the session, representatives of the
media can    
also ask questions in Finnish. The presentation materials are
available in      
English and Finnish.                                       
                    

The information session can be viewed live on YIT's
website,                    
www.yitgroup.com/webcast. The webcast replay will
be available at the same      
address starting at approximately 12:00 noon.
Participants are asked to call the
assigned number +44 (0)20 7162 0077 at 9:55
a.m. (Finnish time, EEST) at the    
latest, i.e. a minimum of 5 minutes
before the conference call begins.          

Schedule in different time
zones:                                              
     

----------------------------------------------------------------------------
     ----
|
                     | Financial       | Information      | Recorded webcast
|
|                      | Statements      | session,         | available     
  |
|                      | bulletin        | conference call  |             
    |
|                      | published       | and              |           
      |
|                      |                 | webcast          |         
       
     |
-----------------------------------------------------------------------------
     ---
|
EEST (Helsinki)      | 08:00           | 10:00            | 12:00           
     |
-----------------------------------------------------------------------------
     ---
|
CEST (Paris,         | 07:00           | 09:00            | 11:00           
|
| Stockholm)           |                 |                  |               
 
     |
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     ---
|
BST (London)         | 06:00           | 08:00            | 10:00           
     |
-----------------------------------------------------------------------------
     ---
|
US EDT (New York)    | 01:00           | 03:00            | 05:00           
     |
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     ---

Annual
General Meeting 2010                                                    


YIT Corporation's Annual General Meeting will be held on Wednesday, March
10,   
2010, starting at 1:00 p.m. (Finnish time, EEST) onwards in Finlandia
Hall,     
Conference Wing, Hall A, located at the address: Mannerheimintie
13, Helsinki,  
Finland (entrance through doors M1 and K1). The full notice of
the meeting,     
including the Board of Directors' proposals to the Annual
General Meeting, will 
be published as a separate stock exchange release on
February 4, 2010.          

Financial information in 2010                   
                               

The Annual Report including financial
statements for 2009 and a Corporate       
Governance Statement, will be
published on YIT's Internet site in Finnish and   
English on February 17,
2010. Interim Reports will be published on April 29,    
July 23 and October
27, 2010.                                                   

YIT will apply
the IFRIC15 Agreements for the Construction of Real Estate IFRS 

interpretation as of the financial period starting January 1, 2010, and its  
  
application will change mainly the recognition of YIT Group's housing      
    
development projects to take place at the time of delivery while until
now they 
have been recognised as income based on the principle of percentage
of          
completion multiplied by the percentage of sales. In business
premises          
development the method of income recognition will be
evaluated case by case     
depending on the terms of agreements. Change in
the income recognition will     
cause greater variation between the different
quarters. YIT will publish        
IFRIC15-compliant comparison figures for
the financial year 2009 on March 23,   
2010. Despite of the change in
accounting principle, YIT will publish the       
segment information using
the principle of percentage of completion multiplied  
by the percentage of
sales also in the future.                                  

Financial
reports and other investor information are available on YIT's
website,
www.yitgroup.com/investors. The materials may be ordered via the
Internet site, 
by sending an e-mail to InvestorRelations@yit.fi or by
telephone at +358 20 433 
2467.                                               
                           


YIT CORPORATION                               
                                 

Juhani Pitkäkoski                         
                                     
President and CEO                       
                                       


For further information, please
contact:                                        
Juhani Pitkäkoski, President
and CEO, +358 20 433 3301, juhani.pitkakoski@yit.fi
Timo Lehtinen, Chief
Financial Officer, +358 20 433 2258, timo.lehtinen@yit.fi  


Distribution:
NASDAQ OMX Helsinki, main media, www.yitgroup.com                 
FINANCIAL
STATEMENTS BULLETIN JANUARY 1 - DECEMBER 31, 2009                    


REVENUE EUR 3,452 MILLION                                                  
    

YIT Group's revenue for 2009 decreased by 12 per cent on the previous
year to   
EUR 3,452.4 million (1-12/2008: EUR 3,939.7 million).              
            

Building and Industrial Services, covering all countries in
which YIT operates, 
generated the majority of the revenue. Revenue decreased
in all segments        
compared to the year before due to the weaker market
conditions. International  
Construction Services revenue increased in all
quarters as the year went on with
a picking up of residential sales. Revenue
for the fourth quarter was the       
all-year high in all segments due to
accelerated residential sales in Russia and
Finland and seasonal fluctuations
typical of the Building and Industrial        
Services segment.              
                                                

Finland accounted for 45%
of revenue (47%), Sweden for 15% (16%), Norway for 12%
(12%), Central Europe
for 11% (5%), Russia for 9% (10%), Denmark for 4% (4%) and
the Baltic
countries for 2% (4%). In local currency terms, the decrease in Group
revenue
was 8 per cent.                                                        


Revenue by segment (MEUR)                                                  
   
     

----------------------------------------------------------------------------
     ----
|
                     |      2009 |           2008 |     Change |    % of the
|
|                      |           |                |            |    
Group's |
|                      |           |                |            |
revenue for |
|                      |           |                |           
|        2009
     |
-----------------------------------------------------------------------------
     ---
|
Building and         |   2,124.9 |    2,396.0 |           -11% |         62%
|
| Industrial Services  |           |            |                |          
  |
| 1)                   |           |            |                |        
   
     |
-----------------------------------------------------------------------------
     ---
|
Construction         |   1,029.7 |        1,147.9 |       -10% |         30%
|
| Services Finland     |           |                |            |          
 
     |
-----------------------------------------------------------------------------
     ---
|
International        |     359.4 |          493.5 |       -27% |         10%
|
| Construction         |           |                |            |          
  |
| Services             |           |                |            |        
   
     |
-----------------------------------------------------------------------------
     ---
|
Other items          |     -61.6 |          -97.7 |       -37% |         -2%
     |
-----------------------------------------------------------------------------
     ---
|
YIT Group, total     |   3,452.4 |        3,939.7 |       -12% |        100%
     |
-----------------------------------------------------------------------------
     ---

1)
The Central European building system operations acquired from Germany,      

Austria, Poland, Czech Republic, Hungary and Romania were transferred to YIT
on 
August 1, 2008. The revenue of these operations for August-December 2008  
     
amounted to EUR 182.6 million.                                          
       

YIT's service chain for customers covers investments, servicing and
maintenance 
as well as the change of premises' purpose of use. The extensive
service chain  
aims at better service capability, business growth and steady
income flow.      
Service and maintenance of buildings, industry and
traditional infrastructure   
accounts for a significant proportion of the
Group's revenue. The target is to  
increase service and maintenance
operations further. In 2009, service and       
maintenance operations
generated EUR 1,201.3 million (2008: EUR 1,299.2         
million), in other
words, 35 per cent (33%) of consolidated revenue. The        
Building and
Industrial Services segment accounted for the majority of service  
and
maintenance operations; 54 per cent (53 %), or EUR 1,151.0 million (EUR    

1,260.2 million), of its revenue was generated by service and maintenance    
  
operations.                                                                
    

OPERATING PROFIT EUR 166 MILLION                                       
        

The Group's operating profit decreased by 36 per cent to EUR 165.5
million (EUR 
260.6 million). Operating profit margin was 4.8 per cent (6.6%).
Return on      
investment was 10.9 per cent (17.5%).                         
                 

The operating profit decreased compared to the previous
year in all segments.   
The operating profit of International Construction
Services remained negative as
a whole. The segment's operating profit was
weakened on account of the volume of
residential sales in the first part of
the year falling short of the previous   
year, housing prices being at a
lower level than last year and the Baltic market
continuing to be weak.       
                                                  

The Group's profitability
and operating profit improved in every quarter.       
Operating profit for
the fourth quarter was clearly better than during the      
previous quarter
or the corresponding period the year before. Profit improvement
during 2009
was affected by the recovery in residential sales in Finland and    
Russia.
The profitability of Building and Industrial Services was stable in    

January-September and improved during the fourth quarter. The operating
profit  
of Construction Services Finland remained stable throughout the year.
The       
operating profit of International Construction Services turned to
positive      
figures during the third quarter and improved further in
October-December.      

Operating profit by segment (MEUR)                  
                          
     

----------------------------------------------------------------------------
     ----
|
                         |      2009 |      2008 |     Change  |  Proportion
|
|                          |           |           |             |        
of  |
|                          |           |           |             | the
Group's |
|                          |           |           |             |  
operating |
|                          |           |           |             |
     profit |
|                          |           |           |            
|        2009
     |
-----------------------------------------------------------------------------
     ---
|
Building and Industrial  |     119.3 |     162.0 |        -26% |         72%
|
| Services 1)              |           |           |             |          
 
     |
-----------------------------------------------------------------------------
     ---
|
Construction Services    |      81.9 |     111.7 |        -27% |         50%
|
| Finland 2)               |           |           |             |          
 
     |
-----------------------------------------------------------------------------
     ---
|
International            |     -17.8 |       9.0 |       -298% |        -11%
|
| Construction Services    |           |           |             |          
 
     |
-----------------------------------------------------------------------------
     ---
|
Other items              |     -17.9 |     -22.0 |        -19% |        -11%
     |
-----------------------------------------------------------------------------
     ---
|
YIT Group, total         |     165.5 |     260.6 |        -36% |        100%
     |
-----------------------------------------------------------------------------
     ---

Operating
profit margin by segment                                             
     

----------------------------------------------------------------------------
     ----
|
                                       |            2009 |              2008
     |
-----------------------------------------------------------------------------
     ---
|
Building and Industrial Services 1)    |            5.6% |              6.8%
     |
-----------------------------------------------------------------------------
     ---
|
Construction Services Finland 2)       |            8.0% |              9.7%
     |
-----------------------------------------------------------------------------
     ---
|
International Construction Services    |           -5.0% |              1.8%
     |
-----------------------------------------------------------------------------
     ---
|
YIT Group, total                       |            4.8% |              6.6%
     |
-----------------------------------------------------------------------------
     ---

1a)
The building system service operations acquired from Central Europe were   

transferred to YIT on August 1, 2008.                                        
  
1b) On September 30, 2009, the court of arbitration issued its ruling in
the    
dispute concerning the mechanical installation contract YIT carried
out for     
Neste Oil's Porvoo oil refinery. The effect of the ruling on
Building and       
Industrial Services' operating profit for 2009 was EUR
-3.2 million.            
2) On March 10, 2008, the Supreme Court issued its
ruling on disputes connected 
with the renovation of SOK's former head office
building. The ruling had a      
positive effect of EUR 3.5 million on
Construction Services Finland's operating 
profit for 2008.                   
                                            

EARNINGS PER SHARE EUR 0.53    
                                                

Profit before taxes
decreased by 45 per cent compared to the year before to EUR 
106.9 million
(EUR 193.1 million). Earnings per share decreased by 50 per cent  
to EUR 0.53
(EUR 1.05).                                                        


Financial expenses decreased compared to the previous year due to a general
    
decrease in interest rates and a decrease in net interest-bearing
liabilities.  

Profit before taxes and earnings per share improved in every
quarter. Profit    
before taxes amounted to EUR 2.2 million for the first
quarter of 2009, EUR 25.2
million for the second quarter, EUR 29.9 million for
the third quarter and EUR  
49.5 for the fourth quarter.                      
                             

DIVIDEND PROPOSAL EUR 0.40                    
                                 

The Board of Directors proposes to the
Annual General Meeting that a dividend of
EUR 0.40 per share (EUR 0.50) be
paid for the 2009 financial year, representing 
74.9 per cent (47.6%) of
earnings per share.                                    

The Board of
Directors' proposal for the use of distributable equity is         
presented
at the end of the financial statements.                               

ORDER
BACKLOG EUR 2,774 MILLION                                                


The Group's order backlog was EUR 2,773.6 million (EUR 3,233.7 million) at
the  
end of the year, or 14 per cent less than a year before. The order
backlog has a
normal margin.                                                  
               

The order backlog of Construction Services Finland increased
particularly due to
increased housing start-ups. The order backlog decreased
in the other business  
segments compared to the year before. The order
backlog of the Building and     
Industrial Services segment declined due to
the decrease in customers'          
investments. The order backlog of
International Construction Services decreased 
as the segment's residential
projects under construction in Russia were         
recognised as income as
construction and sales proceeded. Also new residential  
projects were started
up in Russia.                                             

Due to market
uncertainties, the construction of residential projects in the    
start-up
phase in Russia in projects whose sales had not yet begun was suspended
in
October 2008. Some of the projects were restarted late in 2009. At the end
of
2009, the value of the projects that were still suspended amounted to EUR
282   
million in the order backlog (12/08: EUR 356 million).                 
        

The order backlog was impacted by fluctuations in the exchange
rates of the     
Norwegian krone, Swedish krona and Russian ruble. Also in
local currency terms, 
the decrease in the Group's order backlog was 14 per
cent.                      
                                                  
                             
Order backlog by segment (MEUR)                 
                              
     

----------------------------------------------------------------------------
     ----
|
                         |      2009 |       2008 |   Change  |   Proportion
|
|                          |           |            |           |         
of  |
|                          |           |            |           |  the
Group's |
|                          |           |            |           |   
    order |
|                          |           |            |           | 
    backlog |
|                          |           |            |          
|         2009
     |
-----------------------------------------------------------------------------
     ---
|
Building Systems 1)      |     850.4 |    1,050.2 |      -19% |          31%
     |
-----------------------------------------------------------------------------
     ---
|
Construction Services    |   1,007.5 |      874.2 |       15% |          36%
|
| Finland                  |           |            |           |           
 
     |
-----------------------------------------------------------------------------
     ---
|
International            |     960.1 |    1,369.3 |      -30% |          35%
|
| Construction Services 2) |           |            |           |           
 
     |
-----------------------------------------------------------------------------
     ---
|
Other items              |     -44.4 |      -60.0 |      -26% |          -2%
     |
-----------------------------------------------------------------------------
     ---
|
YIT Group, total         |   2,773.6 |    3,233.7 |      -14% |         100%
     |
-----------------------------------------------------------------------------
     ---

1)
The business operations acquired from Central Europe transferred to YIT on  

August 1, 2008. The order backlog of these operations amounted to EUR 265.6  
  
million at the end of 2008.                                                
    
2) The order backlog includes projects suspended in October 2008. At the
end of 
2009, the value of the projects that were still suspended amounted to
EUR 282   
million in the order backlog (12/08: EUR 356 million).             
            

The order backlog includes that portion of customer orders and
ongoing          
development projects that has not been recognised as
revenue. Contracted        
projects are recognised as income based on the
percentage of completion.        
Residential development projects are
recognised as income by multiplying the    
percentage of completion by
percentage of sale. Commercial real estate          
development projects are
recognised as income using the principle percentage of 
completion multiplied
by percentage of sale multiplied by occupancy rate. As of 
the beginning of
2010, the revenue recognition of the Group's own housing       
development
projects will change so that the projects will be recognised as     
income in
their entirety only upon delivery. In business premises development   
the
method of income recognition will be evaluated case by case depending on
the
terms of agreements. Change in the income recognition will cause greater  
     
variation between the different quarters.                               
       

The order backlog of Building and Industrial Services mainly
comprises contract 
orders and service and maintenance agreements. A
significant part of the        
segment's maintenance and servicing operations
are immediately performed        
assignments that are not included in the
order backlog. All of the additional   
works or alterations are neither
included in the order backlog.                 

In residential and
commercial development projects, YIT assumes the             
responsibility
for the sales of the residential units or the site. Commercial   
real estate
development projects are usually sold to investors either prior to 

construction or during an early phase thereof. In Construction Services
Finland,
more than half of the order backlog at the end of 2009 was sold and
less than   
half unsold production. In International Construction Services,
more than half  
of the order backlog consisted of unsold residential units.  
                  

GOOD FINANCIAL POSITION AT YEAR'S END                    
                      

Operating cash flow after investments was good
throughout the year and very     
strong during the fourth quarter. The cash
flow was strengthened by strong      
residential sales during the second part
of the year and stable profitability in
Building and Industrial Services.
Operating cash flow after investments amounted
to EUR 211.4 million
(1-12:2008: EUR -19.4 million). Operating cash flow after  
investments was
EUR 10.3 million in January-March, EUR 27.8 million in          
April-June,
EUR 29.5 million in July-September and EUR 143.8 million in        

October-December. Cash reserves at the end of the period amounted to EUR
173.1  
million (EUR 201.7 million). Dividends of EUR 63.4 million (EUR 102.0
million)  
were paid. Taxes of EUR 38.7 million were paid during the year.    
            

Of YIT's business operations, building and industrial services
as well as       
infrastructure and other contract construction require
little capital. Capital  
is particularly tied to the plot reserves, their
development and ongoing or     
completed production. At the end of the year,
the Group's invested capital      
amounted to EUR 1,471.4 million (EUR
1,653.9 million). At the end of the year,  
40 per cent (33%), or EUR 582.3
million (EUR 545.2 million), of the Group's     
invested capital was invested
in Russia. The amount of capital invested in      
Russia was increased by
capital tied to unfinished and completed production. The
devaluation of the
ruble decreased the amount of capital invested in Russia by  
EUR 26.4 million
compared to the end of 2008. At the end of the year, EUR 213.9 
million of the
capital invested in Russia comprised debt investments and EUR    
368.5
million were equity investments or similar fixed net investments.
Invested
capital is calculated by deducting non-interest bearing liabilities
from the    
balance sheet total. The balance sheet total at the end of the
year was EUR     
2,626.4 million (EUR 2,973.9 million).                      
                   

The gearing ratio improved to 62.2 per cent (79.8%) at
the end of the year. Net 
financing debt decreased on the previous year to EUR
497.7 million (EUR 644.5   
million). The equity ratio was 33.8 per cent
(30.7%).                           

Net financial expenses decreased to EUR
58.6 million (EUR 67.5 million), or 1.7 
per cent (1.7%) of the Group's
revenue. The exchange rate differences recognised
under net financial
expenses, totalling EUR 28.4 million (EUR 25.0 million),    
were comprised
nearly entirely of costs of hedging debt investments in Russia.  

The loan
portfolio totalled EUR 670.8 million (EUR 846.2 million) at the end of 
the
year, and its average interest rate was 3.6 per cent (4.7%). Fixed-interest

loans accounted for 67 per cent (51%) of the Group's entire loan portfolio.
Of  
the loans, 30 per cent (32%) had been raised directly on the capital and
money  
markets. The maturity distribution of the loans is balanced. The
capital        
structure was reinforced by converting EUR 60.0 million in
short-term loans to  
long-term loans during the first quarter. In addition,
factoring financing for  
Nordic trade receivables was arranged during the
review period, increasing      
available sources of finance by about EUR 100
million. Factoring financing was  
being used at the end of the year for EUR
27.0 million. A bond of EUR 50 million
that fell due in October was paid in
cash assets.                               

The construction-stage contract
receivables sold to financing companies totalled
EUR 78.0 million (EUR 163.3
million) at the end of the year. Of this amount, EUR
37.8 million (EUR 95.5
million) is included in interest-bearing liabilities in  
the balance sheet
and the remainder comprises off-balance sheet items in        
accordance with
IAS 39. Interest expenses on receivables sold to financing      
companies
amounted to EUR 1.8 million (EUR 15.1 million) during the review      
period
and they are fully included in the financial expenses of the reported   

period.                                                                      
  

Participations in the housing corporation loans of unsold completed
residential 
units, EUR 34.5 million (EUR 48.2 million) at year's end, are
included in       
interest-bearing liabilities. The interest of
participations in the housing     
corporation loans, EUR 2.3 million (EUR 2.3
million), is booked in project      
expenses, as it is included in housing
corporation charges.                     

CAPITAL EXPENDITURES AND
ACQUISITIONS                                           

Gross capital
expenditures on non-current assets included in the balance sheet  
totalled
EUR 27.9 million (EUR 85.2 million) during the financial period,      

representing 0.8 per cent (2.2%) of revenue. Investments in construction     
  
equipment amounted to EUR 9.0 million (EUR 14.2 million) and investments in
    
information technology to EUR 7.9 million (EUR 5.5 million). Other
investments, 
including acquisitions, amounted to EUR 11.0 million (EUR 65.5
million).        

No significant acquisitions or divestments were made
during 2009. During the    
latter half of the year, YIT increased its holding
in YIT Kausta in Lithuania to
97.5 per cent and in Russia in YIT Uralstroi to
99.9 per cent and in YIT Don to 
78 per cent in the International Construction
Services segment.                 

GROWTH TARGET FOR THE STRATEGIC PERIOD IS
RAISED                                

YIT Corporation's Board of Directors
confirmed the Group's strategy for         
2010-2012 on August 19, 2009.     
                                             
The key target of the strategy
is profitable growth. The Group's annual revenue 
growth target was increased
to 5-10 per cent on average. Previously, the target 
was positive growth in
revenue. The Group's other strategic target levels remain
unchanged, and they
are: return on investment of 20 per cent, operating cash    
flow after
investments must be sufficient for dividend payout and reduction of  
debt,
equity ratio of 35 per cent and dividend payout of 40 to 60 per cent of   
net
profit for the period.                                                     


CHANGES IN GROUP STRUCTURE                                                 
    

YIT Group's business operations are divided into main business
segments. The    
Building Systems and Industrial Services segments merged
into a single segment, 
Building and Industrial Services, at the beginning of
2009.                     
The other two business segments were Construction
Services Finland and          
International Construction Services.           
                                

CHANGES IN GROUP MANAGEMENT                
                                    

On August 20, 2009, Arne Malonæs was
appointed as President of the YIT Building 
and Industrial Services segment
and Timo Lehtinen as Chief Financial Officer of 
YIT Group. Before this
appointment, Arne Malonæs served as the President of     
YIT's Norwegian
subsidiary, with responsibility for the development of the      
Group's
building system services. Timo Lehtinen was Senior Vice President,     

Finance, with responsibility for both the Construction Services Finland and  
  
International Construction Services segments. Of the Group's Management
Board   
members, the previous CFO, head of Industrial Services and Senior
Vice          
President, Human Resources left YIT's employ during 2009. HR
matters were       
included within the responsibilities of the Senior Vice
President,              
Administration.                                      
                          

RESOLUTIONS PASSED AT THE ANNUAL GENERAL MEETING 
                              

YIT Corporation's Annual General Meeting was
held on March 11, 2009. The Annual 
General Meeting adopted the 2008 financial
statements, discharged the members of
the Board of Directors and the President
and CEO from liability, confirmed a    
dividend of EUR 0.50 (EUR 0.80) per
share, or a total of EUR 62.5 million (EUR  
101.8 million) as proposed by the
Board of Directors. The Annual General Meeting
confirmed the composition of
the Board of Directors, decided to keep the Board  
of Directors' fees
unchanged and elected Henrik Ehrnrooth as Chairman of the    
Board of
Directors, Eino Halonen as Vice Chairman and Kim Gran, Reino Hanhinen, 
Antti
Herlin, Satu Huber and Lauri Ratia as members. The Annual General Meeting

elected PricewaterhouseCoopers Oy, Authorised Public Accountants, as the     
  
company's auditor.                                                         
    

The Annual General Meeting decided to authorise the Board of Directors
to       
purchase the company's shares and to dispose of them, as proposed by
the Board  
of Directors. The authorisation granted to the Board of Directors
covers the    
acquisition of a maximum of 10,100,000 company shares,
purchased with the       
company's unrestricted equity, and the assignment of
a maximum of 12,700,000 of 
the shares bought back for and held by the
company. The authorisation overrides 
the authorisation to purchase and divest
the company's own shares issued by the 
Extraordinary General Meeting on
October 6, 2008.                               

In its organisational
meeting on March 11, 2009, the Board elected Reino        
Hanhinen as
chairman and Satu Huber and Lauri Ratia as members of the audit     
committee
from among its number. The Board elected Henrik Ehrnrooth as chairman 
and
Eino Halonen, Reino Hanhinen and Antti Herlin as members of the nomination 

and rewards committee from among its number.                                 
  

YIT Corporation published stock exchange releases on the resolutions
passed at  
the Annual General Meeting and the organisation of the Board of
Directors on    
March 11, 2009.                                              
                  

LEGAL PROCEEDINGS                                        
                      

The court of arbitration issued its ruling in the
dispute between YIT Industrial
and Network Services and Neste Oil Corporation
on September 30, 2009. The       
dispute concerned the mechanical
installation contract of production line 4 at  
Neste Oil's Porvoo oil
refinery carried out by YIT between 2004 and 2006. The   
court of arbitration
ordered Neste Oil to compensate YIT with EUR 8.7 million on
contracting works
and YIT to compensate Neste Oil with EUR 7.4 million on       
postponement
and other compensation. The effect of the ruling on Building and   
Industrial
Services' operating profit for Q3/2009 was EUR -3.2 million. YIT has

published stock exchange releases concerning the matter on April 1, 2008,    
  
September 1, 2008 and October 1, 2009.                                     
    

NUMBER OF EMPLOYEES 23,480                                             
        

In 2009, the Group employed 24,497 (25,057) people on average. At
the end of the
year, the Group had 23,480 employees (25,784). Of the
personnel, 67 per cent    
(67%) were non-salaried employees and 33 per cent
(33%) salaried employees. A   
total of 89 per cent (89%) were men and 11 per
cent (11%) women.                

In 2009, the number of employees decreased
in all segments. The biggest relative
decrease in the number of personnel took
place in the Baltic countries and      
Russia. Due to the weakened general
market conditions, it was agreed to         
terminate the employment of about
1,200 people in the Group towards the end of  
2008. During 2009, YIT agreed
to terminate the employment of about 1,200 people.
In addition, the Group has
used lay-offs in adjusting the number of personnel.  

Personnel by business
segment                                                  
     

----------------------------------------------------------------------------
     ----
|
                          |   12/2009 |    12/2008 |     Change |   Share of
|
|                           |           |            |            |       
the |
|                           |           |            |            |   
Group's |
|                           |           |            |            | 
employees |
|                           |           |            |           
|    12/2009
     |
-----------------------------------------------------------------------------
     ---
|
Building and Industrial   |    17,557 |     18,888 |        -7% |        75%
|
| Services                  |           |            |            |         
 
     |
-----------------------------------------------------------------------------
     ---
|
Construction Services     |     2,936 |      3,271 |       -10% |        13%
|
| Finland                   |           |            |            |         
 
     |
-----------------------------------------------------------------------------
     ---
|
International             |     2,647 |      3,277 |       -19% |        11%
|
| Construction Services     |           |            |            |         
 
     |
-----------------------------------------------------------------------------
     ---
|
Corporate Services        |       340 |        348 |        -2% |         1%
     |
-----------------------------------------------------------------------------
     ---
|
YIT Group, total          |    23,480 |     25,784 |        -9% |       100%
     |
-----------------------------------------------------------------------------
     ---

Personnel
by country                                                           
     

----------------------------------------------------------------------------
     ----
|
                          |   12/2009 |    12/2008 |     Change |   Share of
|
|                           |           |            |            |       
the |
|                           |           |            |            |   
Group's |
|                           |           |            |            | 
employees |
|                           |           |            |           
|    12/2009
     |
-----------------------------------------------------------------------------
     ---
|
Finland                   |     9,102 |     10,180 |       -11% |        39%
     |
-----------------------------------------------------------------------------
     ---
|
Sweden                    |     4,193 |      4,523 |        -7% |        18%
     |
-----------------------------------------------------------------------------
     ---
|
Norway                    |     3,248 |      3,280 |        -1% |        14%
     |
-----------------------------------------------------------------------------
     ---
|
Russia                    |     2,600 |      3,089 |       -16% |        11%
     |
-----------------------------------------------------------------------------
     ---
|
Germany, Austria, Poland, |     2,160 |      2,094 |         3% |         9%
|
| the Czech Republic,       |           |            |            |         
  |
| Hungary, Romania          |           |            |            |       
   
     |
-----------------------------------------------------------------------------
     ---
|
Denmark                   |     1,269 |      1,448 |       -12% |         5%
     |
-----------------------------------------------------------------------------
     ---
|
Lithuania, Estonia,       |       908 |      1,170 |       -22% |         4%
|
| Latvia                    |           |            |            |         
 
     |
-----------------------------------------------------------------------------
     ---
|
YIT Group, total          |    23,480 |     25,784 |        -9% |       100%
     |
-----------------------------------------------------------------------------
     ---



DEVELOPMENT
BY BUSINESS SEGMENT                                                


BUILDING AND INDUSTRIAL SERVICES                                           
    

The Building and Industrial Services segment was formed at the
beginning of 2009
by merging the Building Systems and Industrial Services
segments into a single  
segment. Revenue of the Industrial Services is mainly
generated in Finland and  
additionally in Sweden and in export countries, and
it amounted to EUR 429.7    
million in 2008. In 2008, YIT acquired Central
European building system         
operations from Germany, Austria, Poland,
Czech Republic, Hungary and Romania   
that were transferred to YIT on August
1, 2008. The revenue of these operations 
for August-December 2008 amounted to
EUR 182.6 million and in 2009 to EUR 362.1 
million. In January 2010, YIT made
three minor acquisitions in Sweden and one in
Norway.                         
                                               

The segment's revenue
decreased by 11 per cent compared to the year before,     
which was
particularly due to a strong decrease in the volume of business      

premises construction. Revenue for the fourth quarter was the all-year high
due 
to the typical seasonal fluctuations in these businesses. The sales focus
was   
shifted from new buildings to renovations and modernisations, from the
private  
sector to the public sector, and from project operations to
maintenance. Of the 
revenue, service and maintenance operations accounted for
54 per cent (53%) or  
EUR 1,151.0 million (EUR 1,260.2 million).             
                        

Finland accounted for 28% of revenue (34%), Sweden
for 25% (27%), Norway for 20%
(20%), Denmark for 7% (7%), Central Europe for
18% (8%), the Baltic countries   
and Russia for 1% (3%) and export countries
for 2% (2%). Revenue decreased      
relatively the most in the Baltic
countries and Russia and Finland.             

Operating profit decreased by
26 per cent compared to the year before due to a  
decrease in customers' new
investments and a tighter market situation. The court
of arbitration issued
its ruling in the third quarter, decreasing the segment's 
operating profit by
EUR 3.2 million. The segment's profitability was stable in  
January-September
and improved during the fourth quarter.                       
               
                                                                
The order
backlog decreased by 19 per cent in particular due to decreased      

industrial investments and business premises construction. A significant part
of
the segment's maintenance and servicing operations are immediately
performed    
assignments that are not included in the order backlog. All of
the additional   
works or alterations are neither included in the order
backlog.                 

The changes in Swedish krona and Norwegian krone
had the most significant       
currency movement impact on the business
segment's figures. Exchange rate       
changes decreased the revenue in 2009
by EUR 93.3 million and on the other hand 
improved the order backlog by EUR
29.8 million compared to the year before. In  
local currency terms, revenue
decreased by 7 per cent and order backlog by 22   
per cent compared to the
year before. The revenue was affected by the average   
exchange rates during
the year end and the order backlog by the exchange rates  
at the year's end. 
                                                            

The Building
and Industrial Services segment's business is personnel-based      
business
that requires little capital. Capital invested in the business segment

amounted to EUR 418.7 million at the end of the year (EUR 346.8 million).
Return
on investment was 31.4 per cent (54.9%).                               
        

The number of personnel in the segment decreased compared to the
year before and
was 17,557 at the end of the year (18,888).                   
                 

Key figures                                               
                    
     

----------------------------------------------------------------------------
     ----
|
              | 1-12 | 1-12 | Change |    | 1-3/0 | 4-6/09 | 7-9/09 | 10-12/
|
|               |  /09 |  /08 |  1-12/ |    |     9 |        |        |    
09 |
|               |      |      |   08 - |    |       |        |        |  
     |
|               |      |      | 1-12/0 |    |       |        |        |
       |
|               |      |      |      9 |    |       |        |       
|       
     |
-----------------------------------------------------------------------------
     ---
|
Revenue, MEUR | 2,12 |    2 |  -11 % |    | 537,9 |  529,2 |  483,9 |  573,9
|
|               |  4.9 | 396, |        |    |       |        |        |     
  |
|               |      |    0 |        |    |       |        |        |   
   
     |
-----------------------------------------------------------------------------
     ---
|
- of which    | 1,15 | 1,26 |    -9% |    | 281.2 |  286.7 |  266.0 |  317.1
|
| service and   |  1.0 |  0.2 |        |    |       |        |        |     
  |
| maintenance,  |      |      |        |    |       |        |        |   
    |
| MEUR          |      |      |        |    |       |        |        | 
     
     |
-----------------------------------------------------------------------------
     ---
|
Operating     | 119. | 162. |   -26% |    |  28.6 |   28.2 |   24.9 |   37.6
|
| profit, MEUR  |    3 |    0 |        |    |       |        |        |     
  |
| 1)            |      |      |        |    |       |        |        |   
   
     |
-----------------------------------------------------------------------------
     ---
|
Operating     | 5.6% | 6.7% |      - |    |   5.3 |    5.3 |    5.1 |    6.6
|
| profit        |      |      |        |    |       |        |        |     
  |
| margin, %     |      |      |        |    |       |        |        |   
   
     |
-----------------------------------------------------------------------------
     ---
|
Order backlog | 850. | 1,05 |   -19% |    | 1,048 |  984.7 |  946.7 |  850.4
|
| at end of     |    4 |  0.2 |        |    |    .3 |        |        |     
  |
| period, MEUR  |      |      |        |    |       |        |        |   
   
     |
-----------------------------------------------------------------------------
     ---
|
Invested      | 418. | 346. |    21% |    | 347.1 |  371.3 |  395.0 |  418.7
|
| capital at    |    7 |    8 |        |    |       |        |        |     
  |
| end of        |      |      |        |    |       |        |        |   
    |
| period, MEUR  |      |      |        |    |       |        |        | 
      |
| 2)            |      |      |        |    |       |        |       
|       
     |
-----------------------------------------------------------------------------
     ---
|
Personnel at  | 17,5 | 18,8 |    -7% |    | 18,52 | 18,208 | 17,849 | 17,557
|
| end of period |   57 |   88 |        |    |     7 |        |        |     
 
     |
-----------------------------------------------------------------------------
     ---

1)
On September 30, 2009, the court of arbitration issued its ruling in the    

dispute concerning the mechanical installation contract YIT carried out for  
  
Neste Oil's Porvoo oil refinery. The effect of the ruling on Building and  
    
Industrial Services' operating profit for Q3/2009 was EUR -3.2 million.  
      
2) When calculating invested capital in business segments, the
interest-bearing 
financial items have been netted.                           
                   

Building and Industrial Services' revenue by country,
MEUR                     
     

----------------------------------------------------------------------------
     ----
|
              | 1-12 | 1-12 | Change |    | 1-3/0 | 4-6/09 | 7-9/09 | 10-12/
|
|               |  /09 |  /08 |  1-12/ |    |     9 |        |        |    
09 |
|               |      |      |   08 - |    |       |        |        |  
     |
|               |      |      | 1-12/0 |    |       |        |        |
       |
|               |      |      |      9 |    |       |        |       
|       
     |
-----------------------------------------------------------------------------
     ---
|
Finland       | 594. | 817. |   -27% |    | 161.2 |  153.5 |  135.4 |  144.4
|
|               |    5 |    9 |        |    |       |        |        |     
 
     |
-----------------------------------------------------------------------------
     ---
|
Sweden        | 532. | 648. |   -18% |    | 122.7 |  135.0 |  116.9 |  157.7
|
|               |    3 |    7 |        |    |       |        |        |     
 
     |
-----------------------------------------------------------------------------
     ---
|
Norway        | 414. | 481. |   -14% |    | 109.8 |   98.9 |   93.4 |  112.5
|
|               |    6 |    6 |        |    |       |        |        |     
 
     |
-----------------------------------------------------------------------------
     ---
|
Denmark       | 145. | 164. |   -11% |    |  39.0 |   38.9 |   30.6 |   37.4
|
|               |    9 |    6 |        |    |       |        |        |     
 
     |
-----------------------------------------------------------------------------
     ---
|
Germany,      | 374. | 183. |   104% |    |  87.3 |   88.8 |   93.9 |  104.6
|
| Austria,      |    6 |    6 |        |    |       |        |        |     
  |
| Poland, the   |      |      |        |    |       |        |        |   
    |
| Czech         |      |      |        |    |       |        |        | 
      |
| Republic,     |      |      |        |    |       |        |       
|        |
| Hungary,      |      |      |        |    |       |        |     
  |        |
| Romania 1)    |      |      |        |    |       |        |   
    |       
     |
-----------------------------------------------------------------------------
     ---
|
Lithuania,    | 28.0 | 63.0 |   -56% |    |   8.8 |    5.1 |    7.9 |    6.2
|
| Estonia,      |      |      |        |    |       |        |        |     
  |
| Latvia and    |      |      |        |    |       |        |        |   
    |
| Russia        |      |      |        |    |       |        |        | 
     
     |
-----------------------------------------------------------------------------
     ---
|
Other         | 35.0 | 36.6 |    -4% |    |   9.1 |    9.0 |    5.8 |   11.1
|
| countries     |      |      |        |    |       |        |        |     
 
     |
-----------------------------------------------------------------------------
     ---
|
Total         | 2,12 | 2,39 |   -11% |    | 537.9 |  529.2 |  483.9 |  573.9
|
|               |  4.9 |  6.0 |        |    |       |        |        |     
 
     |
-----------------------------------------------------------------------------
     ---

1)
The building system service operations acquired from Central Europe were    

transferred to YIT on August 1, 2008.                                        
  

Stable demand for maintenance and energy saving services                 
      

The demand for building system repair and maintenance work and
various kinds of 
service agreements was relatively steady across all
countries where YIT has a   
presence. Agreements were signed on building
system service agreements and      
outsourcing in, e.g., logistics premises
and production plants. Municipalities  
are seeking new solutions for
arranging their maintenance services, especially  
in the Nordic countries.
For instance, technical maintenance of roads and       
tunnels was agreed
upon with the Bodo and Salten municipalities in Norway. In   
Solna, Sweden,
YIT is responsible for the building system servicing and         
maintenance
of approximately one hundred municipality-owned properties.         

The
demand for energy-saving solutions and services picked up in the spring in 

the Nordic countries, Austria and Germany in particular and continued
steadily  
during the rest of the year. Several energy analyses and ESCO
energy saving     
agreements were performed in the private and public
sectors.                    

The demand for industrial plant maintenance
services, solutions that improve    
energy efficiency and energy analysis
services continued to be relatively steady
in Finland.                        
                                            

Decrease in new investments    
                                                

New investments in building
systems decreased across all market areas. The      
renovation and
reconstruction market picked up slightly thanks to the start-up  
of public
sector stimulus projects.                                            


Industrial investments were fewer than during the year before. In
particular,   
investments decreased in process, forest and steel industries,
with the demand  
focusing on the energy industry. An extensive piping project
whereby YIT        
delivers all the pipelines of a power plant to Siemens AG
started at the Severn 
Power natural gas combined cycle power plant in
Uskmouth, United Kingdom.       

CONSTRUCTION SERVICES FINLAND              
                                    

Construction Services Finland's revenue
decreased by 10 per cent compared to the
previous year. Revenue decreased
clearly in the construction of business        
premises. In residential
construction and infrastructure services, revenue      
remained at last
year's level.                                                  

Operating
profit declined by 27 per cent due to a significant decline in the   

construction of business premises and residential sales focusing more on
rental 
housing production during the first months of the year compared to
previous     
year. During the comparison period, the Supreme Court issued a
ruling that had a
positive effect of EUR 3.5 million on the segment's
operating profit for        
Q1/2008.                                         
                              

The order backlog increased by 15 per cent
compared to the end of the previous  
year. The order backlog increased
especially in connection with an increase in  
residential start-ups.         
                                                

In Construction Services
Finland, development production mainly ties up capital 
in the plot reserves,
their development and ongoing production. Infrastructure  
and other contract
construction require only little capital. Capital invested in
the business
segment decreased and amounted to EUR 315.7 million at the end of  
the year
(EUR 482.9 million). Plot investments were decreased in 2009, amounting
to EUR
54.0 million (EUR 61.6 million). Return on investment was 20.5% (28.0%).


The number of personnel in the segment decreased compared to the year
before and
was 2,936 at the end of the year (3,271).                          
            

Key figures                                                    
               
     

----------------------------------------------------------------------------
     ----
|
              | 1-12 | 1-12 | Change |    | 1-3/0 | 4-6/09 | 7-9/09 | 10-12/
|
|               |  /09 |  /08 |  1-12/ |    |     9 |        |        |    
09 |
|               |      |      |   08 - |    |       |        |        |  
     |
|               |      |      | 1-12/0 |    |       |        |        |
       |
|               |      |      |      9 |    |       |        |       
|       
     |
-----------------------------------------------------------------------------
     ---
|
Revenue, MEUR | 1,02 | 1,14 |   -10% |    | 239.8 |  253.0 |  246.3 |  290.6
|
|               |  9.7 |  7.9 |        |    |       |        |        |     
 
     |
-----------------------------------------------------------------------------
     ---
|
- of which    | 71.5 | 68.5 |     4% |    |  19.5 |   15.2 |   20.2 |   16.6
|
| service and   |      |      |        |    |       |        |        |     
  |
| maintenance,  |      |      |        |    |       |        |        |   
    |
| MEUR          |      |      |        |    |       |        |        | 
     
     |
-----------------------------------------------------------------------------
     ---
|
Operating     | 81.9 | 111. |   -27% |    |  20.9 |   19.9 |   20.8 |   20.3
|
| profit, MEUR  |      |    7 |        |    |       |        |        |     
 
     |
-----------------------------------------------------------------------------
     ---
|
Operating     | 8.0% | 9.7% |      - |    |   8.7 |    7.9 |    8.4 |    7.0
|
| profit        |      |      |        |    |       |        |        |     
  |
| margin, %     |      |      |        |    |       |        |        |   
   
     |
-----------------------------------------------------------------------------
     ---
|
Order backlog | 1,00 | 874. |    15% |    | 819.8 |  846.9 |  909.9 |  1,007
|
| at end of     |  7.5 |    2 |        |    |       |        |        |    
.5 |
| period, MEUR  |      |      |        |    |       |        |        |  
    
     |
-----------------------------------------------------------------------------
     ---
|
Invested      | 315. | 482. |   -35% |    | 435.5 |  481.2 |  427.4 |  315.7
|
| capital at    |    7 |    9 |        |    |       |        |        |     
  |
| end of        |      |      |        |    |       |        |        |   
    |
| period, MEUR  |      |      |        |    |       |        |        | 
      |
| 1)            |      |      |        |    |       |        |       
|       
     |
-----------------------------------------------------------------------------
     ---
|
- in plot     | 325. | 350. |    -7% |    | 363.2 |  354.6 | 340.7  |  325.6
|
| reserves,     |    6 |    5 |        |    |       |        |        |     
  |
| MEUR          |      |      |        |    |       |        |        |   
   
     |
-----------------------------------------------------------------------------
     ---
|
Personnel at  | 2,93 | 3,27 |   -10% |    | 3,119 |  3,208 |  2,971 |  2,936
|
| end of period |    6 |    1 |        |    |       |        |        |     
 
     |
-----------------------------------------------------------------------------
     ---

1)
When calculating invested capital in business segments, the interest-bearing

financial items have been netted.                                            
  

At the end of the year the plot reserves included 1,630,000 m2 of floor
area    
(1,770,000 m2 of floor area) of residential plots and 908,000 m2 of
floor area  
(827,000 m2 of floor area) of plots for business premises. Plot
reserves include
off-balance sheet items. Plot reserves include plots that
have been planned and 
an estimate of the potential building rights on areas
that are under land use   
planning. The building rights provided by regional
development agreements made  
with landowners remain as off-balance sheet
items until the construction of each
phase of the plan being implemented
begins or YIT pays for the plots in         
accordance with the agreements.  
                                              

Residential sales picked up  
                                                  

Due to uncertainties in
the market conditions, housing construction focused on  
rental housing
production during the first months of the year. As the           
residential
sales picked up the focus was turned back on own development        
projects.
YIT sold 276 residential units to consumers during the first quarter, 
401
during the second quarter, 380 during the third quarter and 510 during the 

fourth quarter. The price level of housing developed positively at the later 
  
part of the year.                                                          
    

The volume of residential start-ups for consumers was increased in each
quarter 
in order to ensure a sufficient number of apartments on sale.
Geographically    
extensive operations and plot reserves made it possible to
react swiftly to     
changes in the market conditions. At the end of the
year, YIT had on sale a     
total of 1,061 residential units, of which 216
had been completed. The          
residential units on sale consist of
apartments in different sizes. In the      
market the number of own housing
development projects started up was lower than 
during the previous years.    
                                                 

Projects constructed for
investors were started up throughout the year in       
accordance with
previous agreements. The most significant agreement on rental   
housing was
signed in August when YIT sold five rental housing projects with a  
total of
some 300 residential units to ICECAPITAL Housing Fund II for EUR 36.6 

million. An agreement was signed with Tapiola Real Estate on the construction
of
a total of 225 residential units in the Helsinki region and the Uusimaa    
    
province. Agreements were also made with VVO and Tarveasunnot, among
others.    

The number of residential units sold and residential units under
construction on
the whole exceeded the previous year considerably with both
rental housing      
production and YIT's own development projects underway.
In Finland, the average 
construction time of a residential project is
approximately one year. About half
of YIT's ongoing projects will be completed
during 2010 and half in 2011.       

Residential construction in Finland in
2009 (2008), number of residential units
     

----------------------------------------------------------------------------
     ----
|
              | 1-12 | 1-12 | Change |    | 1-3/0 | 4-6/09 | 7-9/09 | 10-12/
|
|               |  /09 |  /08 |  1-12/ |    |     9 |        |        |    
09 |
|               |      |      |   08 - |    |       |        |        |  
     |
|               |      |      | 1-12/0 |    |       |        |        |
       |
|               |      |      |      9 |    |       |        |       
|       
     |
-----------------------------------------------------------------------------
     ---
|
Sold          | 3,50 | 1,92 |    82% |    |   436 |    896 |    982 |  1,188
|
|               |    2 |    0 |        |    |       |        |        |     
 
     |
-----------------------------------------------------------------------------
     ---
|
- of which    | 1,56 | 1,46 |     7% |    |   276 |    401 |    380 |    510
|
| directly to   |    7 |    2 |        |    |       |        |        |     
  |
| consumers     |      |      |        |    |       |        |        |   
   
     |
-----------------------------------------------------------------------------
     ---
|
Start-ups     | 3,44 | 1,54 |   124% |    |   239 |    817 |  1,139 |  1,252
|
|               |    7 |    2 |        |    |       |        |        |     
 
     |
-----------------------------------------------------------------------------
     ---
|
- of which    | 1,52 | 1,08 |    41% |    |    90 |    327 |    537 |    574
|
| aimed         |    8 |    4 |        |    |       |        |        |     
  |
| directly to   |      |      |        |    |       |        |        |   
    |
| consumers     |      |      |        |    |       |        |        | 
     
     |
-----------------------------------------------------------------------------
     ---
|
Completed     | 1,56 | 2,46 |   -37% |    |   440 |    409 |    288 |    425
|
|               |    2 |    4 |        |    |       |        |        |     
 
     |
-----------------------------------------------------------------------------
     ---
|
Under         | 3,77 | 1,88 |   100% |    | 1,686 |  2,095 |  2,946 |  3,773
|
| construction  |    3 |    7 |        |    |       |        |        |     
  |
| at the end of |      |      |        |    |       |        |        |   
    |
| the period    |      |      |        |    |       |        |        | 
     
     |
-----------------------------------------------------------------------------
     ---
|
- of which    | 2,92 | 1,13 |   148% |    | 1,141 |  1,563 |  2,215 |  2,928
|
| sold at the   |    8 |    4 |        |    |       |        |        |     
  |
| end of the    |      |      |        |    |       |        |        |   
    |
| period        |      |      |        |    |       |        |        | 
     
     |
-----------------------------------------------------------------------------
     ---
|
Unsold at the | 1,06 | 1,11 |    -5% |    |   921 |    834 |    997 |  1,061
|
| end of the    |    1 |    1 |        |    |       |        |        |     
  |
| period        |      |      |        |    |       |        |        |   
   
     |
-----------------------------------------------------------------------------
     ---
|
- of which    |  216 | 358  |   -40% |    |   366 |    302 |    266 |    216
|
| completed     |      |      |        |    |       |        |        |     
 
     |
-----------------------------------------------------------------------------
     ---

Lower
volume in business premises construction than in the previous year       


The volume of business premises construction decreased clearly compared to
the  
previous year. Construction of offices and industrial premises declined 
       
significantly. Demand for new business and warehouse premises remained
moderate.
The start up of stimulus measures by the public sector increased
slightly the   
demand for renovation and modernisation projects.             
                 

The business focused on completing ongoing projects and
obtaining leaseholders  
for new, ongoing and completed sites. YIT put effort
on the tenant and project  
development activities and in activating investor
sales. Some new development   
projects were started during the year and
contracts were won in competitive     
bidding. In addition, several
renovation and modernisation projects were carried
out.                       
                                                    

With regard to projects
as the Group's own development, the sports and wellness 
centre located in
Salmisaari, Helsinki was sold to Varma Mutual Pension         
Insurance
Company in January. In November, YIT sold a shopping centre located in
Joensuu
to Fennia Mutual Insurance Company after the agreement made in 2007 with
a
Danish real estate investor on the premises had been cancelled.              


The construction of the first low-energy office and commercial building was
    
started in Järvenpää in the autumn.                                      
      
From now on, all new offices constructed by                            
        
YIT will be low-energy offices, consuming less energy than required
by current  
regulations.                                                     
              

Infrastructure construction is steady                        
                  

The demand for infrastructure construction was decreased
by the lower           
construction levels of new housing and business
premises and the impaired state 
of the municipal economy. Several
infrastructure projects concerning basic road 
and railway maintenance started
in Finland, boosted by state stimulus measures. 
The demand for environmental
restoration services was good. Infrastructure      
construction developed
steadily as a whole.                                     

YIT has special
expertise in infrastructure construction in rock excavations,   
maintenance
works and municipal services. As for large-scale road projects, a   
project
of EUR 17 million with bridge and road work was started in the centre
of
Savonlinna. A tunnel for the Kehärata (Ring line) projects was started in  
    
Vantaa. As regards municipal services, the City of Varkaus outsourced the
      
production and maintenance of its streets, water supply and outdoor
lighting. In
addition, lifecycle projects were implemented for municipalities,
covering      
repair investments and maintenance of sites.    
             
                  
INTERNATIONAL CONSTRUCTION SERVICES                        
                    

International Construction Services' revenue decreased
by 27 per cent compared  
to the previous year due to the weaker market
conditions. Revenue decreased by  
17 per cent in Russia and by 63 per cent in
the Baltic countries. Russia        
accounted for 85 per cent (75%) of the
revenue for 2009, the Baltic countries   
for 12 per cent (24%). Revenue
increased during all quarters of the year as     
Russian residential sales
picked up and the construction of sites progressed.   

The segment's
operating profit for 2009 was negative. Operating profit turned   
positive
during the third quarter and continued to improve during the fourth   

quarter. The segment's operating profit was weakened on account of the volume
of
residential sales in the first part of the year falling short of the
previous   
year, housing prices being at a lower level than last year, the
low volume of   
business premises construction in Russia and the Baltic
market continuing to be 
weak. The project margin forecasts of the business
segment were weakened in     
particular during the first quarter. Write-downs
of approximately EUR 7 million 
were recognised during the year for the plot
reserves mainly located in Latvia  
and Lithuania.                            
                                     

The order backlog of International
Construction Services decreased by 30 per    
cent compared to the year
before. Residential projects under construction in    
Russia were recognised
as income as construction and sales proceeded. During the
year there were more
apartments sold than apartment start-ups. Due to market    
uncertainties, the
construction of residential projects in the start-up phase in
Russia in
projects whose sales had not yet begun was suspended in October 2008. 
At the
end of 2009, the value of the projects that were still suspended amounted
to
EUR 282 million in the order backlog (12/08: EUR 356 million).              


Exchange rate changes of the ruble decreased the revenue in 2009 by EUR
65.2    
million and order backlog by EUR 41.1 million compared to the year
before. When 
the figures for Russia are calculated in local currency, the
change in revenue  
for the business segment was -14 per cent and change in
the order backlog was   
-27 per cent compared to the previous year.          
                          

In International Construction Services, capital
has been tied mainly to ongoing,
completed and suspended production and
additionally to the plot reserves and    
their development. Capital invested
in the business segment amounted to EUR     
681.3 million (EUR 653.1 million)
at the end of 2009. No new housing projects   
were started in early 2009, and
investments were decreased considerably. Housing
start-ups were restarted once
sales picked up and the market conditions improved
again in September, and
decisions on a few new plot investments were made during
the fourth quarter.
Return on investment was -2.7 per cent (1.7%).              

The Group's
capital invested in Russia is primarily accounted for by the       

International Construction Services segment. At the end of the year, the
Group's
capital invested in Russia amounted to EUR 582.3 million (EUR 545.2
million).   
The amount of capital invested in Russia was increased by capital
tied to       
unfinished and completed production. The devaluation of the
ruble decreased the 
amount of capital invested in Russia by EUR 26.4 million
compared to the        
previous year.                                        
                         

During the latter half of the year, YIT increased
its holding in YIT Kausta in  
Lithuania to 97.5 per cent, in Russia in YIT
Uralstroi to 99.9 per cent and in  
YIT Don to 78 per cent. In January 2010,
YIT increased its holding in YIT Don to
100 per cent.                         
                                         

Key figures                       
                                            
     

----------------------------------------------------------------------------
     ----
|
              | 1-12 | 1-12 | Change |    | 1-3/0 | 4-6/09 | 7-9/09 | 10-12/
|
|               |  /09 |  /08 |  1-12/ |    |     9 |        |        |    
09 |
|               |      |      |   08 - |    |       |        |        |  
     |
|               |      |      | 1-12/0 |    |       |        |        |
       |
|               |      |      |      9 |    |       |        |       
|       
     |
-----------------------------------------------------------------------------
     ---
|
Revenue, MEUR | 359. | 493. |   -27% |    |  61.4 |   87.4 |   97.6 |  113.0
|
|               |    4 |    5 |        |    |       |        |        |     
 
     |
-----------------------------------------------------------------------------
     ---
|
Operating     | -17. |  9.0 |  -298% |    | -23.8 |   -5.2 |    3.7 |    7.5
|
| profit, MEUR  |    8 |      |        |    |       |        |        |     
 
     |
-----------------------------------------------------------------------------
     ---
|
Operating     | -5.0 | 1.8% |      - |    | -38.7 |   -5.9 |    3.8 |    6.6
|
| profit        |    % |      |        |    |       |        |        |     
  |
| margin, %     |      |      |        |    |       |        |        |   
   
     |
-----------------------------------------------------------------------------
     ---
|
Order backlog | 960. | 1,36 |   -30% |    | 1,239 | 1,126. |  998.4 |  960.1
|
| at end of     |    1 |  9.3 |        |    |    .1 |      8 |        |     
  |
| period, MEUR  |      |      |        |    |       |        |        |   
    |
| 1)            |      |      |        |    |       |        |        | 
     
     |
-----------------------------------------------------------------------------
     ---
|
Invested      | 681. | 653. |     4% |    | 632.8 |  667.9 |  677.1 |  681.3
|
| capital at    |    3 |    1 |        |    |       |        |        |     
  |
| end of        |      |      |        |    |       |        |        |   
    |
| period, MEUR  |      |      |        |    |       |        |        | 
      |
| 2)            |      |      |        |    |       |        |       
|       
     |
-----------------------------------------------------------------------------
     ---
|
- in plot     | 246. | 228. |     8% |    | 218.7 |  235.4 |  244.8 |  246.5
|
| reserves,     |    5 |    9 |        |    |       |        |        |     
  |
| total         |      |      |        |    |       |        |        |   
   
     |
-----------------------------------------------------------------------------
     ---
|
- in plot     | 171. | 145. |    18% |    | 136.1 |  157.8 |  166.9 |  171.7
|
| reserves in   |    7 |    7 |        |    |       |        |        |     
  |
| Russia        |      |      |        |    |       |        |        |   
   
     |
-----------------------------------------------------------------------------
     ---
|
- in plot     | 74.8 | 83.2 |   -10% |    |  82.6 |   77.6 |   77.7 |   74.8
|
| reserves in   |      |      |        |    |       |        |        |     
  |
| the Baltic    |      |      |        |    |       |        |        |   
    |
| countries     |      |      |        |    |       |        |        | 
     
     |
-----------------------------------------------------------------------------
     ---
|
Personnel at  | 2,64 | 3,27 |   -19% |    | 3,214 |  2,965 |  2,841 |  2,647
|
| end of period |    7 |    7 |        |    |       |        |        |     
 
     |
-----------------------------------------------------------------------------
     ---

1)
The order backlog includes residential projects suspended in Russia in      

October 2008. At the end of 2009, the value of the projects that were still  
  
suspended amounted to EUR 282 million in the order backlog (12/08: EUR 356 
    
million).                                                                
      
2) When calculating invested capital in business segments, the
interest-bearing 
financial items have been netted.                           
                   

At the end of the year the plot reserves in Russia
included 1,974,000 m2 of     
floor area (2,256,000 m2 of floor area) of
residential plots and 563,000 m2 of  
floor area (565,000 m2 of floor area) of
plots for business premises. The plot  
reserves in the Baltic countries
included 353,000 m2 of floor area (398,000 m2  
of floor area) of residential
plots and 136,000 m2 of floor area (62,000 m2 of  
floor area) of plots for
business premises.                                     

International
Construction Services' revenue by country, MEUR                  
     

----------------------------------------------------------------------------
     ----
|
              | 1-12 | 1-12 | Change |    | 1-3/0 | 4-6/09 | 7-9/09 | 10-12/
|
|               |  /09 |  /08 |  1-12/ |    |     9 |        |        |    
09 |
|               |      |      |   08 - |    |       |        |        |  
     |
|               |      |      | 1-12/0 |    |       |        |        |
       |
|               |      |      |      9 |    |       |        |       
|       
     |
-----------------------------------------------------------------------------
     ---
|
Russia        | 305. | 368. |   -17% |    |  45.9 |   72.3 |   85.2 |  102.3
|
|               |    7 |    2 |        |    |       |        |        |     
 
     |
-----------------------------------------------------------------------------
     ---
|
Lithuania,    | 44.3 | 118. |   -63% |    |  14.7 |   14.0 |   11.6 |    4.0
|
| Estonia,      |      |    7 |        |    |       |        |        |     
  |
| Latvia        |      |      |        |    |       |        |        |   
   
     |
-----------------------------------------------------------------------------
     ---
|
Other         |  9.4 |  6.6 |    42% |    |   0.8 |    1.1 |    0.8 |    6.7
|
| countries     |      |      |        |    |       |        |        |     
 
     |
-----------------------------------------------------------------------------
     ---
|
Total         | 359. | 493. |   -27% |    |  61.4 |   87.4 |   97.6 |  113.0
|
|               |    4 |    5 |        |    |       |        |        |     
 
     |
-----------------------------------------------------------------------------
     ---

Residential
sales strengthened in Russia as the year advanced                   

YIT is
involved in its own housing development projects in St Petersburg,      

Moscow, cities in the Moscow region, Yekaterinburg, Rostov-on-Don and Kazan. 
  

Housing sales strengthened in Russia during every quarter of 2009. YIT
sold 323 
residential units in Russia during the first quarter, 494 during the
second     
quarter, 829 during the third quarter and 966 during fourth
quarter. A majority 
of the residential units were sold directly to consumers.
In December, YIT sold 
90 residential units in Moscow's surroundings to the
Ministry of Defence in a   
single transaction.                               
                             

Sales received a boost from greater consumer
confidence in YIT, the company's   
own marketing and sales measures, a more
appealing offering when sites are      
completed or are nearing completion
and improved credit availability and terms  
for the customers. In order to
support sales, YIT agreed on cooperation with    
several banks, whereby YIT
customers now have the option to take out a mortgage 
under special terms and
conditions. In St. Petersburg, approximately one-fifth  
of residential sales
made with YIT in October-December were made with loan      
financing. In
other cities where the company operates loan financing was        
utilised
less frequently.                                                      


Housing prices decreased in rubles on average, varying by city,
approximately on
one-fifth between September 2008 and October 2009. The rate
of decline in       
housing prices slowed down during the third quarter of
2009, and prices remained
steady for the rest of the year. The supply of
housing in the market declined in
2009 after numerous constructors had halted
their projects, thereby increasing  
YIT's market share in residential sales.
Some construction companies restarted  
their halted projects towards the end
of the year.                              

YIT started the construction of
672 residential units during the last months of 
the year. The first new
residential site since summer 2008 was started in       
September 2009 in one
of the cities surrounding Moscow, Zhukovsky. Residential  
construction
projects were started up in the Moscow region, Moscow and St.      
Petersburg
during the fourth quarter. The housing sales portfolio improved     

following the completion of sites and new residential start-ups.             
  

The costs of completing the 4,174 residential units under construction
are      
estimated to be approximately EUR 178 million. The residential
start-ups in 2009
account for EUR 42 million of the costs of completion.
Capital is freed up      
simultaneously with the sale of residential units.
In Russia the projects are   
long and the value of them is large. The
majority of the projects under         
construction will be completed during
2010.                                     

Residential construction in
Russia in 2009 (2008), number of residential units 
     

----------------------------------------------------------------------------
     ----
|
              | 1-12 | 1-12 | Change |    | 1-3/0 | 4-6/09 | 7-9/09 | 10-12/
|
|               |  /09 |  /08 |  1-12/ |    |     9 |        |        |    
09 |
|               |      |      |   08 - |    |       |        |        |  
     |
|               |      |      | 1-12/0 |    |       |        |        |
       |
|               |      |      |      9 |    |       |        |       
|       
     |
-----------------------------------------------------------------------------
     ---
|
Sold          | 2,61 | 2,79 |    -6% |    |   323 |    494 |    829 |    966
|
|               |    2 |    3 |        |    |       |        |        |     
 
     |
-----------------------------------------------------------------------------
     ---
|
Start-ups     |  672 | 3,62 |   -81% |    |     0 |      0 |    105 |    567
|
|               |      |    2 |        |    |       |        |        |     
 
     |
-----------------------------------------------------------------------------
     ---
|
Completed     | 4,96 | 2,60 |    91% |    | 1,524 |    937 |      0 |  2,499
|
|               |    0 |    0 |        |    |       |        |        |     
 
     |
-----------------------------------------------------------------------------
     ---
|
Under         | 4,17 | 8,40 |   -50% |    | 6,874 |  5,969 |  6,080 |  4,174
|
| construction  |    4 |    7 |        |    |       |        |        |     
  |
| at the end of |      |      |        |    |       |        |        |   
    |
| the period 1) |      |      |        |    |       |        |        | 
     
     |
-----------------------------------------------------------------------------
     ---
|
- of which    | 1,81 | 3,12 |   -42% |    | 2,523 |  2,004 |  2,532 |  1,814
|
| sold at the   |    4 |    0 |        |    |       |        |        |     
  |
| end of the    |      |      |        |    |       |        |        |   
    |
| period        |      |      |        |    |       |        |        | 
     
     |
-----------------------------------------------------------------------------
     ---
|
Unsold at the | 3,60 | 5,53 |   -35% |    | 5,218 |  4,747 |  4,014 |  3,603
|
| end of the    |    3 |    4 |        |    |       |        |        |     
  |
| period        |      |      |        |    |       |        |        |   
   
     |
-----------------------------------------------------------------------------
     ---
|
- of which    | 1,24 |  247 |   403% |    |   867 |    782 |    466 |  1,243
|
| completed     |    3 |      |        |    |       |        |        |     
 
     |
-----------------------------------------------------------------------------
     ---

1)
Due to the uncertain market situation, YIT made a decision in October 2008
to
suspend the construction of residential projects in the start-up phase in
Russia
in projects whose sales had not yet begun. The residential units whose 
        
construction was suspended are not included in the residential units
under      
construction in the above table, as the restarting of their
construction will be
handled as new building start-ups. Changes in the number
of residential units   
may take place after the start of construction due to
the division or           
combination of residences.                         
                            

Development of the Gorelovo industrial park
continued                           

The development of the Gorelovo
industrial park in St. Petersburg was continued 
in the autumn by starting up
the realisation of production and distribution     
logistics premises used in
packaging cosmetic products for Dermosil. The        
development of business
premise projects was also continued in Moscow and its   
vicinity. YIT signed
a strategic partnership agreement with BPT on business     
premise
development.                                                            

The
water and drain connections of the food plant completed in the Gorelovo
area
were connected in October 2009, and the authorities granted the official
permits
for putting into operation the production plant at the end of
December. Thus,   
YIT's obligations based on the agreements made with the
customer have been      
fulfilled.                                           
                          

Weak market situation in the Baltic countries    
                              
The market situation remained weak in the
Baltic countries. Competition for     
construction projects was tight and
production volumes were low. The market     
price level of housing dropped on
average to approximately half of what it was  
at the end of 2007.            
                                                

The focus of YIT's
operations was shifted from residential construction to      
contracting in
the Baltic countries. Minor construction contracts were won,     
making it
possible to halt the rapid decrease in operational volumes. The       
largest
construction sites were mainly production and logistics premises for   

Western customers in Estonia and Lithuania.                                  
  

No new residential projects were started up during 2009, but the
preparation of 
new projects continued. In 2009, 256 (1-12/08: 733)
residential units were sold 
in Lithuania, Estonia and Latvia. Of these units,
53 were sold during the first 
quarter, 147 during the second quarter, 50
during the third quarter and 6 during
the fourth quarter. 592 (736)
residential units were completed during the       
period. No residential
units were under construction at year's end (12/08: 592).
At the end of the
year, YIT had 40 (296) unsold residential units.              

SHARES, SHARE
OPTIONS AND SHAREHOLDERS                                          

The
company has one series of shares. Each share carries one vote and confers
an
equal right to a dividend.                                                 
    

Shares could be subscribed for in 2009 under the Series M and N share
options   
issued in 2006 between April 1 and November 30, 2009. The
subscription period   
under the Series M share options ended on November 30,
2009.                    

Share capital and number of shares                
                             

YIT Corporation's share capital was EUR
149,216,748.22 at the beginning of the  
review period, and the number of
shares outstanding was 127,223,422. The share  
capital and number of shares
did not change during the year.                    

Own shares and
authorisations of the Board of Directors                         

In
accordance with the Companies Act, the General Meeting decides on the
buyback
and conveyance of shares, as well as any decisions leading to changes
in the    
share capital.                                                     
            

At the beginning of 2009, YIT Corporation held 1,425,000 of its
own shares,     
purchased based on the authorisation given by the General
Meeting of October 6, 
2008.                                                  
                        

The Annual General Meeting of YIT Corporation
resolved on March 11, 2009, to    
authorise the Board of Directors to
purchase the company's shares and to dispose
of them, as proposed by the Board
of Directors. The authorisation granted to the
Board of Directors covers the
acquisition of a maximum of 10,100,000 company    
shares, purchased with the
company's unrestricted equity, and the assignment of 
a maximum of 12,700,000
of the shares bought back for and held by the company.  
The authorisation
overrides the authorisation to purchase and divest the        
company's own
shares issued by the Extraordinary General Meeting on October 6,  
2008.      
                                                                    

Between
February 10 and February 23, 2009, YIT purchased 720,000 of its own    

shares at an average price of EUR 5.6. At the end of 2009, YIT Corporation
held 
2,145,000 of its own shares. During the period, no shares in the parent
company 
were owned by subsidiaries.                                          
          

There were no share issues during the year and the company did
not float        
convertible bonds or bonds with warrants. At the end of the
period, the parent  
company's Board of Directors did not have valid share
issue authorisations or   
authorisations to issue convertible bonds or bonds
with warrants.               

Trading in the shares and share options       
                                 

At the end of 2009, the closing rate of
YIT's share was EUR 14.45 (2008: EUR    
4.58). YIT's share price increased by
216 per cent during 2009. The highest     
price of the share during 2009 was
EUR 14.49 (EUR 19.99), the lowest EUR 4.31   
(EUR 3.70). The average price
was EUR 8.52 (EUR 10.89).                         

Market capitalisation at
the end of the year was EUR 1,807.4 million (EUR 576.2 
million). The market
capitalisation at the end of year has been calculated      
excluding the
shares held by the company.                                       

Share
turnover in 2009 amounted to 190,057,125 shares (295,155,593). The value  
of
share turnover was EUR 1,631.4 million (EUR 3,221.4 million). The average   

daily turnover was 757,200 shares (1,166,623).                               
  

No Series M or N share options issued in 2006 were traded in 2009.       
      

Number of shareholders: 29,678                                       
          

The number of registered shareholders was 25,515 (15,265) at the
beginning of   
the review period and 29,678 (25,515) at the end of the
period. The number of   
households among the owners increased by 4,070. At
the beginning of the year, a 
total of 36.5 per cent (52.9%) of the shares
were owned by nominee-registered   
and non-Finnish investors, while this
figure was 38.7 per cent (36.5%) at year's
end.                               
                                            

During 2009, one notification
of changes in holdings was made in accordance with
Chapter 2, section 9 of the
Securities Market Act. Suomi Mutual Life Assurance  
Company notified that its
holdings have decreased to below 5 per cent of YIT    
Corporation's shares
and votes following a share transaction on April 3, 2009.  
The company held a
total of 6,184,119 YIT shares, which equals 4.86 per cent of 
YIT
Corporation's shares.                                                      


ESTIMATE OF FUTURE DEVELOPMENT                                             
    

Market outlook                                                         
        

In the Building and Industrial Services segment, the slight
increase in the     
demand for service and maintenance operations for
building systems will         
continue. The increasing amount of technology
in buildings and low new          
investments will increase the need for
service and maintenance operations. The  
economic recession will open new
opportunities for outsourcing real estate      
services. The demand for
energy-efficiency services will increase in the next   
few years in the
Nordic countries, Germany and Austria in particular with public
sector
stimulus measures and renewed environmental legislation. New investments 
in
office and retail properties will remain slight. In new construction        

projects, public sector investments will be realised. The increase in the
demand
for renovation and reconstruction projects will continue with the
support of    
public sector stimulus measures and renovation subsidies.
Industrial investments
are low in Finland, but the demand for industrial
maintenance services will     
continue relatively stable.                    
                                

With regard to Construction Services
Finland, housing demand is expected to     
remain good, construction of
business premises to decrease and infrastructure   
construction to remain
relatively steady. The demand for owner-occupied housing 
will be supported by
low interest rates, an increase in consumer confidence and 
the limited
housing supply. The need for new housing is also maintained by the 

decreasing family sizes, migration and increasing population. Decreased      
  
employment rates and rising interest rates may increase insecurity in the  
    
housing market in the future. With regard to the business premises
market,      
construction of offices and industrial premises will decline.
Demand for retail 
and warehouse premises will remain moderate. The need for
renovation is rising  
steadily. State stimulus measures will increase the
public sector construction  
projects, but the weakness of municipal finances
leads to uncertainty concerning
the number of public sector construction
projects. New projects related to      
transportation will begin in the
Finnish infrastructure market in 2010; at the  
same time the demand in the
municipal sector will decrease. Opportunities will  
also open in connection
with road and regional maintenance contracts. Capacity  
underutilisation in
infrastructure construction keeps the competitive situation 
tight.           
                                                              

As for
International Construction Services, housing demand in Russia is expected
to
remain good, and a slight recovery can be expected in the Baltic countries. 

There is still a great need for housing in Russia, and the demand outlook for
  
residential units aimed at YIT's customer segment is unchanged in the long
term.
Russia's economic situation and consumer behaviour are strongly
dependent on the
development of oil prices and the ruble exchange rate. In
addition the          
development of the functionality of housing finance,
employment rates, interest 
rates and purchasing power affect residential
sales. The construction market has
reached an extremely low level in the
Baltic countries. Due to the extensive    
impact of the recession, no
significant recovery of the market conditions can be
expected in the near
future; however there are signs of a recovery in the       
housing market and
there have been some new project start-ups in the market. In 
Russia, the
underutilisation rate of offices is high and their construction is  
low, but
the demand for industrial and retail premises is increasing. Minor    

business premise projects are underway in the Baltic market.                 
  

Strategic targets                                                        
      

YIT Corporation's Board of Directors confirmed the Group's strategy
for         
2010-2012 on August 19, 2009. The Group's strategic target levels
are: average  
annual revenue growth of 5-10 per cent, return on investment of
20 per cent,    
operating cash flow after investments must be sufficient for
dividend payout and
reduction of debt, equity ratio of 35 per cent and
dividend payout of 40 to 60  
per cent of net profit for the period.          
                               

In Building and Industrial Services, YIT
aims to be the leading provider of     
technical system maintenance in the
Nordic countries and Central Europe and a   
forerunner in energy-saving
services. The target is to increase the service and 
maintenance operations
faster than other operations. Growth is sought both      
organically and
through acquisitions.                                           

In
Construction Services Finland, YIT's aim is to strengthen its position in
all
of its three key construction areas - housing, business premises and      
     
infrastructure. With regard to residential construction, development
projects   
will be increased so that the turnover of capital is accelerated.
In business   
premises, the focus will be on developing and repairing
existing properties     
during the beginning of the strategy period. In
infrastructure services, the    
market position will be reinforced and
maintenance activity will be increased.  

In International Construction
Services, YIT aims to increase its residential    
production responding to
the market demand. The strong need for housing has not 
decreased, and the
demand outlook for residential units aimed at YIT's customer 
segment is
favourable in the long term, which provides opportunities for growth.
Also in
the Baltic countries and Central Eastern Europe, YIT will aim to take  

advantage of emerging market opportunities. Additionally, YIT seeks to boost
the
capital efficiency and higher profitability in the business segment.      
     

Major business risks and uncertainties                                
         

YIT has specified the major risk factors and their management from
the point of 
view of the Group as a whole, taking the special characteristics
of YIT's       
business operations and environment into consideration. Risks
are divided into  
strategic, operational, financial and event risks. A more
detailed account of   
YIT's risk management policy and the most significant
risks is published in the 
Annual Report 2009. Financing risks are described
in more detail in the notes to
the financial statements for 2009.             
                                

The most significant operational short-term
business risks and uncertainties are
connected with the continuity of the
favourable development of residential sales
and the sales and price risk of
the order backlog mainly due to unsold          
residential units. At the end
of the year, YIT's residential units under        
construction or completed
but unsold totalled 3,603 in Russia, 1,061 in Finland 
and 40 in the Baltic
countries. In addition, there are 2,145 residential units  
in Russia whose
construction has been suspended. YIT manages sales risk by      
matching the
number of housing start-ups with the estimated residential demand  
and the
number of unsold residential units. Housing start-ups were increased   

towards the end of the year in order to ensure a sufficient number of
apartments
on sale. A more detailed account of the structure of the order
backlog is       
presented above under Order Backlog. An account of housing
production and       
related measures can be found under Development by
business segment.            

There is a currency risk related to
investments in ruble terms. The Group's     
invested capital in Russia
amounted to EUR 582.3 million at year's end. At the  
turn of the year
2008-2009, net equity investments in Russia were increased by  
classifying a
part of the loans given to the subsidiaries as fixed net         

investments. Net investments totalled EUR 368.5 million at the end of the
year. 
Net investments in the Russian subsidiaries are unhedged in accordance
with the 
finance policy, and the possible devaluation of the ruble would have
a negative 
impact equal to the amount of decrease in equity on the Group's
shareholders'   
equity. Debt investments amounted to EUR 213.9 million at the
end of the year,  
and this exposure was hedged in full. The difference in the
interest rates      
between the euro and ruble has an effect on hedging costs
and therefore net     
financial expenses.                                    
                        

YIT tests the value of its plots as required by the
IFRS accounting principles. 
Plot reserves are measured at acquisition cost
and the value is impaired when it
is estimated that the building being
constructed on the plot will be sold at a  
price lower than the sum of the
price of the plot and the construction costs.   
Write-downs of approximately
EUR 7 million were recognised during the yearly    
mainly for the plot
reserves in Latvia and Lithuania.                           

OUTLOOK FOR
2010                                                                

YIT
Corporation estimates that the Group's revenue will increase and profit    

before taxes will increase significantly in 2010 compared to 2009.           
  

The demand for housing is expected to remain good in 2010 in Finland as
well as 
Russia.                                                              
          

In Finland, the residential demand is supported by low interest
rates, increased
consumer confidence and structural factors, such as
migration, increasing       
population and decreasing family sizes. The price
level of apartments has       
developed positively. There is a low supply of
new residential units in the     
market. YIT has started up new residential
projects in 2009, which offers a     
solid starting point for 2010. At the
end of 2009, YIT had 3,773 residential    
units under construction. There
were 1,061 residential units on sale, of which  
216 had been completed. Good
plot reserves, geographically extensive operations 
and the ability to react
swiftly to changes in the market enable YIT to increase
residential
development activity in 2010.                                       

There
is a great need for new housing in Russia, and therefore the demand      

outlook for residential units aimed at YIT's customer segment is unchanged in
  
the long term. At the end of 2009, housing prices have stabilized and
consumer  
confidence has increased. New residential projects have been
started up in the  
market, but the supply is still limited. At the end of
2009, YIT had 4,174      
residential units under construction. There were
3,603 residential units on     
sale, of which 1,243 had been completed. YIT
has improved its reputation as a   
reliable construction company and
developed its sales process. The company has  
increased the availability of
loans for its customers through co-operation with 
banks. YIT started new
residential projects during the last months of 2009 and  
in 2010 the
residential start-ups are increased responding to the market
demand.

Residential demand is affected by consumer confidence, employment
situation and 
interest rate development both in Finland and Russia.
Additionally, in Russia   
the residential demand is dependent on oil prices
and the exchange rate of the  
ruble.                                         
                                

The opportunities for organic growth in
Building and Industrial Services are    
supported by the need for service and
maintenance as well as renovation and     
public sector projects. There is a
large number of small companies operating in 
building system markets and the
consolidation development provides opportunities
for acquisitions. Industrial
investments are low in Finland, but the demand for 
industrial maintenance
services will continue relatively stable. New investments
in technical
building systems will decrease in all YIT markets, particularly due
to the low
volumes of business premises construction. YIT has an extensive      
network
of local offices in the markets where it operates and a solid market   

position in building system and industrial service and maintenance
operations,  
projects and energy-efficiency services.                        
               

New projects related to transportation will begin in the
Finnish infrastructure 
market in 2010; at the same time the demand in the
municipal sector will        
decrease. Opportunities will also open in
connection with road and regional     
maintenance contracts. YIT has
large-scale route projects underway in           
infrastructure services. The
Group has special expertise in infrastructure and a
solid position as
Finland's largest private provider of road maintenance        
services.      
                                                                

BOARD OF
DIRECTORS' PROPOSAL FOR THE USE OF DISTRIBUTABLE EQUITY               



The distributable equity of YIT Corporation on December 31, 2009 amounts 
      
228,281,847.21 euros, of which profit for the financial year 2009 is   
        
54,474,447.59 euros.                                                 
          


The Board of directors proposes that the profit be disposed of
as follows:      

Payment of a dividend                                     
                     
EUR 0.40 per share to shareholders    50,031,368.80     
                       
Remains in distributable equity      178,250,478.41   
                    
                                     228,281,847.21     



Further the Board of Directors proposes that the Annual General Meeting
grants  
the Board the authority to donate the sum of no more than EUR 500,000
to support
activities of colleges and universities and, in the same context,
that the Board
of Directors be authorised to decide the schedule of payments
and any other     
terms and conditions governing the donations.              
                    

No significant changes have taken place in the
company's financial position     
after the end of the financial year. The
company's liquidity is good and in the 
view of Board of Directors the
proposed dividend payout does not jeopardise the 
company's solvency.         
                                                   

Helsinki, February 3,
2010                                                      


Henrik
Ehrnrooth                         Eino Halonen                  
Chairman     
                           Vice chairman 

Reino Hanhinen                    
      Antti Herlin                           


Satu Huber                  
            Lauri Ratia                        


Kim Gran	                 
              Juhani Pitkäkoski	                
                             
           President and CEO


                                             
                                  

FINANCIAL STATEMENTS BULLETIN JAN 1 - DEC
31, 2009: TABLES	                     
(The financial statements bulletin is
based on the audited financial statements 
for 2009.)                         
                                            

1. Key figures of YIT Group    
                                                

Key figures                
                                                    
YIT Group figures by
quarter                                                    
Segment
information by quarter                                                  

2.
Consolidated financial statements January 1 - December 31, 2009             


Consolidated income statement January 1 - December 31, 2009                
    
Statement of comprehensive income January 1 - December 31, 2009          
      
Consolidated income statement October 1 - December 31, 2009            
        
Consolidated balance sheet                                           
          
Consolidated statement of changes in equity                        
            
Consolidated cash flow statement                                 
              

3. Notes                                                     
                  

Accounting principles of the financial statements
bulletin                      
Financial risk management                      
                                
Segment information                          
                                  
Unusual items affecting operating profit   
                                    
Acquired and divested businesses         
                                      
Changes in property, plant and
equipment                                        
Inventories                 
                                                   
Notes on equity           
                                                     
Interest-bearing
liabilities                                                    
Change in
contingent liabilities and assets and commitments                    

Transactions with associated companies                                       
  

1. KEY FIGURES OF YIT GROUP                                              
      

KEY FIGURES                                                          
         
     

----------------------------------------------------------------------------
     ----
|
                                      |    12/2009 |    12/2008 |     change
     |
-----------------------------------------------------------------------------
     ---
|
Earnings per share, EUR               |       0.53 |       1.05 |       -50%
     |
-----------------------------------------------------------------------------
     ---
|
Diluted earnings per share, EUR       |       0.53 |       1.05 |       -50%
     |
-----------------------------------------------------------------------------
     ---
|
Equity per share, EUR                 |       6.38 |       6.38 |          -
     |
-----------------------------------------------------------------------------
     ---
|
Average share price during the        |       8.52 |      10.89 |       -22%
|
| period, EUR                           |            |            |         
 
     |
-----------------------------------------------------------------------------
     ---
|
Share price at end of period, EUR     |      14.45 |       4.58 |       216%
     |
-----------------------------------------------------------------------------
     ---
|
Market capitalization at end of       |    1,807.4 |      576.2 |       214%
|
| period, MEUR                          |            |            |         
 
     |
-----------------------------------------------------------------------------
     ---
|
Weighted average share-issue adjusted |    125,167 |    127,104 |        -2%
|
| number of shares outstanding,         |            |            |         
  |
| thousands                             |            |            |       
   
     |
-----------------------------------------------------------------------------
     ---
|
Weighted average share-issue adjusted |    125,167 |    127,104 |        -2%
|
| number of shares outstanding,         |            |            |         
  |
| thousands, diluted                    |            |            |       
   
     |
-----------------------------------------------------------------------------
     ---
|
Share-issue adjusted number of shares |    125,078 |    125,798 |        -1%
|
| outstanding at end of period,         |            |            |         
  |
| thousands                             |            |            |       
   
     |
-----------------------------------------------------------------------------
     ---
|
Net interest-bearing debt at end of   |      497.7 |      644.5 |       -23%
|
| period, MEUR                          |            |            |         
 
     |
-----------------------------------------------------------------------------
     ---
|
Return on investment, from the last   |       10.9 |       17.5 |       -38%
|
| 12 months, %                          |            |            |         
 
     |
-----------------------------------------------------------------------------
     ---
|
Return on equity, %                   |        8.2 |       16.5 |       -50%
     |
-----------------------------------------------------------------------------
     ---
|
Equity ratio, %                       |       33.8 |       30.7 |        10%
     |
-----------------------------------------------------------------------------
     ---
|
Gearing ratio, %                      |       62.2 |       79.8 |       -22%
     |
-----------------------------------------------------------------------------
     ---
|
Gross capital expenditures, MEUR      |       27.7 |       85.2 |       -67%
     |
-----------------------------------------------------------------------------
     ---
|
  % of revenue                        |        0.8 |        2.2 |       -64%
     |
-----------------------------------------------------------------------------
     ---
|
Order backlog at end of period, MEUR  |    2,773.6 |    3,233.7 |       -14%
|
| 1)                                    |            |            |         
 
     |
-----------------------------------------------------------------------------
     ---
|
of which order backlog outside        |    1,549.0 |    2,118.9 |       -27%
|
| Finland                               |            |            |         
 
     |
-----------------------------------------------------------------------------
     ---
|
Average number of personnel           |     24,497 |     25,057 |        -2%
     |
-----------------------------------------------------------------------------
     ---

1)
Portion of binding orders and own development projects not recognized as    

income.                                                                      
  


YIT GROUP FIGURES BY QUARTER                                           
       
     

----------------------------------------------------------------------------
     ----
|
                | I/20 | II/2 | III/ | IV/20 | I/200 | II/20 | III/2 | IV/20
|
|                 |   08 |  008 | 2008 |    08 |     9 |    09 |   009 |   
09
     |
-----------------------------------------------------------------------------
     ---
|
Revenue, MEUR   | 927. | 991. | 970. | 1,050 | 823.7 | 853.1 | 815.0 | 960.5
|
|                 |    0 |    2 |    8 |    .7 |       |       |       |    
 
     |
-----------------------------------------------------------------------------
     ---
|
Operating       | 78.6 | 70.5 | 63.1 |  48.4 |  22.1 |  38.1 |  45.6 |  59.7
|
| profit, MEUR    |      |      |      |       |       |       |       |    
 
     |
-----------------------------------------------------------------------------
     ---
|
  % of revenue  |  8.5 |  7.1 |  6.5 |   4.6 |   2.7 |   4.5 |   5.6 |   6.2
     |
-----------------------------------------------------------------------------
     ---
|
Financial       |  3.2 |  0.6 |  0.9 |   1.2 |   1.3 |   0.4 |   0.9 |   1.9
|
| income, MEUR    |      |      |      |       |       |       |       |    
 
     |
-----------------------------------------------------------------------------
     ---
|
Exchange rate   | -0.8 | -2.6 |  6.0 | -27.6 |  -9.6 |  -5.1 |  -7.8 |  -5.9
|
| differences,    |      |      |      |       |       |       |       |    
  |
| MEUR            |      |      |      |       |       |       |       |  
   
     |
-----------------------------------------------------------------------------
     ---
|
Financial       | -10. | -8.0 | -13. | -16.7 | -11.6 |  -8.2 |  -8.8 |  -6.1
|
| expenses, MEUR  |    7 |      |    0 |       |       |       |       |    
 
     |
-----------------------------------------------------------------------------
     ---
|
Profit before   | 70.3 | 60.5 | 56.9 |   5.4 |   2.2 |  25.2 |  29.9 |  49.6
|
| taxes, MEUR     |      |      |      |       |       |       |       |    
 
     |
-----------------------------------------------------------------------------
     ---
|
  % of revenue  | 7.6, |  6.1 |  5.9 |   0.5 |   0.3 |   3.0 |   3.7 |   5.2
     |
-----------------------------------------------------------------------------
          ---
---------------------------------------------------------------------------
     -----
|
Balance sheet   | 2,52 | 2,60 | 2,86 | 2,973 | 2,839 | 2,837 | 2,845 | 2,626
|
| total, MEUR     |  5.8 |  5.5 |  8.5 |    .9 |    .7 |    .9 |    .9 |   
.4
     |
-----------------------------------------------------------------------------
          ---
---------------------------------------------------------------------------
     -----
|
Earnings per    | 0.40 | 0.33 | 0.29 |  0.03 |  0.02 |  0.12 |  0.15 |  0.26
|
| share, EUR      |      |      |      |       |       |       |       |    
 
     |
-----------------------------------------------------------------------------
     ---
|
Equity per      | 5.97 | 6.32 | 6.61 |  6.38 |  5.70 |  5.90 |  6.09 |  6.38
|
| share, EUR      |      |      |      |       |       |       |       |    
 
     |
-----------------------------------------------------------------------------
     ---
|
Share price at  | 17.9 | 15.9 | 7.30 |  4.58 |  5.05 |  7.40 | 13.01 | 14.45
|
| end of period,  |    7 |    8 |      |       |       |       |       |    
  |
| EUR             |      |      |      |       |       |       |       |  
   
     |
-----------------------------------------------------------------------------
     ---
|
Market          | 2,28 | 2,03 | 928. | 576.2 | 631.6 | 925.6 | 1,627 | 1,807
|
| capitalization  |  6.1 |  3.0 |    7 |       |       |       |    .3 |   
.4 |
| at end of       |      |      |      |       |       |       |       | 
     |
| period, MEUR    |      |      |      |       |       |       |      
|      
     |
-----------------------------------------------------------------------------
          ---
---------------------------------------------------------------------------
     -----
|
Return on       | 28.1 | 25.6 | 21.9 |  17.5 |  14.3 |  11.4 |   9.8 |  10.9
|
| investment,     |      |      |      |       |       |       |       |    
  |
| from the last   |      |      |      |       |       |       |       |  
    |
| 12 months, %    |      |      |      |       |       |       |       |
     
     |
-----------------------------------------------------------------------------
     ---
|
Equity ratio, % | 33.3 | 34.5 | 33.4 |  30.7 |  28.3 |  29.3 |  29.7 |  33.8
     |
-----------------------------------------------------------------------------
     ---
|
Net             | 462. | 625. | 696. | 644.5 | 635.2 | 671.4 | 640.4 | 497.7
|
| interest-bearin |    7 |    2 |    9 |       |       |       |       |    
  |
| g debt at end   |      |      |      |       |       |       |       |  
    |
| of period, MEUR |      |      |      |       |       |       |       |
     
     |
-----------------------------------------------------------------------------
     ---
|
Gearing ratio,  | 60.6 | 77.2 | 82.5 |  79.8 |  88.5 |  90.6 |  83.8 |  62.2
|
| %               |      |      |      |       |       |       |       |    
 
     |
-----------------------------------------------------------------------------
          ---
---------------------------------------------------------------------------
     -----
|
Gross capital   | 11.8 | 14.0 | 51.1 |   8.3 |   6.7 |   3.9 |   5.1 |  12.0
|
| expenditures,   |      |      |      |       |       |       |       |    
  |
| MEUR            |      |      |      |       |       |       |       |  
   
     |
-----------------------------------------------------------------------------
     ---
|
Order backlog   | 3,62 | 3,67 | 3,96 | 3,233 | 3,045 | 2,916 | 2,800 | 2,773
|
| at end of       |  7.0 |  0.4 |  4.9 |    .7 |    .0 |    .4 |    .8 |   
.6 |
| period, MEUR    |      |      |      |       |       |       |       | 
    
     |
-----------------------------------------------------------------------------
     ---
|
Personnel at    | 23,6 | 24,9 | 26,6 | 25,78 | 25,23 | 24,76 | 24,00 | 23,48
|
| end of period   |   44 |   78 |   88 |     4 |     9 |     3 |     3 |    
0
     |
-----------------------------------------------------------------------------
     ---


SEGMENT
INFORMATION BY QUARTER                                                 


Revenue by business segment (EUR million)                                  
   
     

----------------------------------------------------------------------------
     ----
|
                 | I/2 | II/2 | III/ | IV/20 | I/200 | II/20 | III/2 | IV/20
|
|                  | 008 |  008 | 2008 |    08 |     9 |    09 |   009 |   
09
     |
-----------------------------------------------------------------------------
     ---
|
Building and     | 507 | 589. | 586. | 713.0 | 537.9 | 529.2 | 483.9 | 573.9
|
| Industrial       |  .8 |    1 |    1 |       |       |       |       |    
  |
| Services 1)      |     |      |      |       |       |       |       |  
   
     |
-----------------------------------------------------------------------------
     ---
|
Construction     | 284 | 308. | 285. | 268.6 | 239.8 | 253.0 | 246.3 | 290.6
|
| Services Finland |  .9 |    6 |    8 |       |       |       |       |    
 
     |
-----------------------------------------------------------------------------
     ---
|
International    | 154 | 119. | 123. |  96.4 |  61.4 |  87.4 |  97.6 | 113.0
|
| Construction     |  .3 |    5 |    3 |       |       |       |       |    
  |
| Services         |     |      |      |       |       |       |       |  
   
     |
-----------------------------------------------------------------------------
     ---
|
Other items      | -20 | -26. | -24. | -27.3 | -15.5 | -16.4 | -12.8 | -17.0
|
|                  |  .0 |    0 |    4 |       |       |       |       |    
 
     |
-----------------------------------------------------------------------------
     ---
|
YIT Group, total | 927 | 991. | 970. |     1 | 823.7 | 853.1 | 815.0 | 960.5
|
|                  |  .0 |    2 |    8 | 050.7 |       |       |       |    
 
     |
-----------------------------------------------------------------------------
     ---

1)
The building system operations acquired from Central Europe transferred to  

YIT on August 1, 2008. The revenue of these operations for August-December
2008 
amounted to EUR 182.6 million.                                          
       

Operating profit by business segment (EUR million)                  
          
     

----------------------------------------------------------------------------
     ----
|
                 | I/2 | II/2 | III/ | IV/20 | I/200 | II/20 | III/2 | IV/20
|
|                  | 008 |  008 | 2008 |    08 |     9 |    09 |   009 |   
09
     |
-----------------------------------------------------------------------------
     ---
|
Building and     | 31. | 41.0 | 43.5 |  46.0 |  28.6 |  28.2 |  24.9 |  37.6
|
| Industrial       |   5 |      |      |       |       |       |       |    
  |
| Services 1)      |     |      |      |       |       |       |       |  
   
     |
-----------------------------------------------------------------------------
     ---
|
Construction     | 35. | 29.4 | 28.1 |  18.8 |  20.9 |  19.9 |  20.8 |  20.3
|
| Services Finland |   4 |      |      |       |       |       |       |    
  |
| 2)               |     |      |      |       |       |       |       |  
   
     |
-----------------------------------------------------------------------------
     ---
|
International    | 16. |  6.1 | -4.0 |  -9.2 | -23.8 |  -5.2 |   3.7 |   7.5
|
| Construction     |   1 |      |      |       |       |       |       |    
  |
| Services         |     |      |      |       |       |       |       |  
   
     |
-----------------------------------------------------------------------------
     ---
|
Other items      | -4. | -6.0 | -4.5 |  -7.1 |  -3.6 |  -4.8 |  -3.8 |  -5.7
|
|                  |   4 |      |      |       |       |       |       |    
 
     |
-----------------------------------------------------------------------------
     ---
|
YIT Group, total | 78. | 70.5 | 63.1 |  48.5 |  22.1 |  38.1 |  45.6 |  59.7
|
|                  |   6 |      |      |       |       |       |       |    
 
     |
-----------------------------------------------------------------------------
     ---

Operating
profit margin by business segment (%)                                
     

----------------------------------------------------------------------------
     ----
|
                 | I/2 | II/2 | III/ | IV/20 | I/200 | II/20 | III/2 | IV/20
|
|                  | 008 |  008 | 2008 |    08 |     9 |    09 |   009 |   
09
     |
-----------------------------------------------------------------------------
     ---
|
Building and     | 6.2 | 7.0% | 7.4% |  6.5% |  5.3% |  5.3% |  5.1% |  6.6%
|
| Industrial       |   % |      |      |       |       |       |       |    
  |
| Services 1)      |     |      |      |       |       |       |       |  
   
     |
-----------------------------------------------------------------------------
     ---
|
Construction     | 12. | 9.5% | 9.8% |  7.0% |  8.7% |  7.9% |  8.4% |  7.0%
|
| Services Finland |  4% |      |      |       |       |       |       |    
  |
| 2)               |     |      |      |       |       |       |       |  
   
     |
-----------------------------------------------------------------------------
     ---
|
International    | 10. | 5.1% | -3.2 | -9.5% | -38.7 | -5.9% |  3.8% |  6.6%
|
| Construction     |  4% |      |    % |       |     % |       |       |    
  |
| Services         |     |      |      |       |       |       |       |  
   
     |
-----------------------------------------------------------------------------
     ---
|
YIT Group, total | 8.5 | 7.1% | 6.5% |  4.6% |  2.7% |  4.5% |  5.6% |  6.2%
|
|                  |   % |      |      |       |       |       |       |    
 
     |
-----------------------------------------------------------------------------
     ---

1a)
The building system operations acquired from Central Europe transferred to 

YIT on August 1, 2008.                                                       
  
1b) On September 30, 2009, the court of arbitration issued its ruling in
the    
dispute concerning the mechanical installation contract YIT carried
out for     
Neste Oil's Porvoo oil refinery. The effect of the ruling on
Building and       
Industrial Services' operating profit for Q3/2009 was EUR
-3.2 million.         
2) The Supreme Court issued its ruling on disputes
connected with the renovation
of SOK's former head office building on March
10, 2008. The ruling had a        
positive effect of EUR 3.5 million on the
Construction Services Finland         
operating profit for Q1/2008.          
                                        

Order backlog by business segment
at end of period (EUR million)               
     

----------------------------------------------------------------------------
     ----
|
                 | I/20 | II/2 | III/ | IV/2 | I/200 | II/20 | III/2 | IV/20
|
|                  |   08 |  008 | 2008 |  008 |     9 |    09 |   009 |   
09
     |
-----------------------------------------------------------------------------
     ---
|
Building and     | 1,04 | 1,02 | 1,28 | 1,05 | 1,048 | 984.7 | 946.7 | 850.4
|
| Industrial       |  8.0 |  1.3 |  4.1 |  0.2 |    .3 |       |       |    
  |
| Services 1)      |      |      |      |      |       |       |       |  
   
     |
-----------------------------------------------------------------------------
     ---
|
Construction     | 1,30 | 1,26 | 1,08 | 874. | 819.8 | 846.9 | 909.9 | 1,007
|
| Services Finland |  6.4 |  4.8 |  5.9 |    2 |       |       |       |   
.5
     |
-----------------------------------------------------------------------------
     ---
|
International    | 1,38 | 1,48 | 1,67 | 1,36 | 1,239 | 1,126 | 998.4 | 960.1
|
| Construction     |  1.7 |  3.7 |  8.2 |  9.3 |    .1 |    .8 |       |    
  |
| Services 2)      |      |      |      |      |       |       |       |  
   
     |
-----------------------------------------------------------------------------
     ---
|
Other items      | -109 | -99. | -83. | -60. | -62.1 | -42.0 | -54.2 | -44.4
|
|                  |   .1 |    4 |    3 |    0 |       |       |       |    
 
     |
-----------------------------------------------------------------------------
     ---
|
YIT Group, total | 3,62 | 3,67 | 3,96 | 3,23 | 3,045 | 2,916 | 2,800 | 2,773
|
|                  |  7.0 |  0.4 |  4.9 |  3.7 |    .0 |    .4 |    .8 |   
.6
     |
-----------------------------------------------------------------------------
     ---

1)
The business operations acquired from Central Europe transferred to YIT on  

August 1, 2008. The order backlog of these operations amounted to EUR 265.6  
  
million at the end of 2008.                                                
    
2) The order backlog includes residential projects suspended in Russia in
      
October 2008. At the end of 2009, the value of the projects that were
still     
suspended amounted to EUR 282 million in the order backlog (12/08:
EUR 356      
million).                                                       
               

2. CONSOLIDATED FINANCIAL STATEMENTS JAN 1 - DEC 31, 2009   
                   

CONSOLIDATED INCOME STATEMENT JAN 1 - DEC 31, 2009 (EUR
million)               
     

----------------------------------------------------------------------------
     ----
|
                                      |  1-12/2009 |  1-12/2008 |     change
     |
-----------------------------------------------------------------------------
     ---
|
Revenue                               |    3,452.4 |    3,939.7 |       -12%
     |
-----------------------------------------------------------------------------
     ---
|
  of which activities outside Finland |    1,885.7 |    2,072.9 |        -9%
     |
-----------------------------------------------------------------------------
     ---
|
Other operating income and expenses   |   -3,252.6 |   -3,647.1 |       -11%
     |
-----------------------------------------------------------------------------
     ---
|
Share of results of associated        |       -0.6 |       -0.1 |       500%
|
| companies                             |            |            |         
 
     |
-----------------------------------------------------------------------------
     ---
|
Depreciation and write-downs          |      -33.6 |      -31.8 |         6%
     |
-----------------------------------------------------------------------------
     ---
|
Operating profit 1)                   |      165.5 |      260.6 |       -36%
     |
-----------------------------------------------------------------------------
     ---
|
  % of revenue                        |        4.8 |        6.6 |       -27%
     |
-----------------------------------------------------------------------------
     ---
|
Financial income 2)                   |        4.5 |        5.9 |       -24%
     |
-----------------------------------------------------------------------------
     ---
|
Exchange rate differences             |      -28.4 |      -25.0 |        14%
     |
-----------------------------------------------------------------------------
     ---
|
Financial expenses                    |      -34.7 |      -48.4 |       -28%
     |
-----------------------------------------------------------------------------
     ---
|
Profit before taxes                   |      106.9 |      193.1 |       -45%
     |
-----------------------------------------------------------------------------
     ---
|
  % of revenue                        |        3.1 |        4.9 |       -37%
     |
-----------------------------------------------------------------------------
     ---
|
Income taxes 3)                       |      -40.7 |      -58.8 |       -30%
     |
-----------------------------------------------------------------------------
     ---
|
Profit for the report period          |       66.2 |      134.3 |       -51%
     |
-----------------------------------------------------------------------------
     ---
|
  % of revenue                        |        2.0 |        3.4 |       -41%
     |
-----------------------------------------------------------------------------
          ---
---------------------------------------------------------------------------
     -----
|
Attributable to                       |            |            |           
     |
-----------------------------------------------------------------------------
     ---
|
Equity holders of the parent company  |       66.8 |      132.9 |       -50%
     |
-----------------------------------------------------------------------------
     ---
|
Minority interests                    |       -0.6 |        1.4 |      -136%
     |
-----------------------------------------------------------------------------
          ---
---------------------------------------------------------------------------
     -----
|
Earnings per share attributable to    |            |            |           
|
| the equity holders of the parent      |            |            |         
  |
| company                               |            |            |       
   
     |
-----------------------------------------------------------------------------
     ---
|
Earnings per share, EUR               |       0.53 |       1.05 |       -50%
     |
-----------------------------------------------------------------------------
     ---
|
Diluted earnings per share, EUR       |       0.53 |       1.05 |       -50%
     |
-----------------------------------------------------------------------------
     ---

1)
The operating profit 2009 includes EUR -3.2 million due to the ruling issued

by the court of arbitration on September 30, 2009 concerning the mechanical  
  
installation contract YIT carried out for Neste Oil's Porvoo oil refinery. 
    
The                                                                      
      
operating profit 2008 includes EUR 3.5 million due to the ruling of the
Supreme 
Court of disputes over the refurbishing of SOK's former head office
in Finland. 
2) The financial income of the 2008 period includes EUR +2.2
million due to the 
ruling of the Supreme Court of disputes over the
refurbishing of SOK's former   
head office in Finland.                       
                                 
3) During 2009 the Group's tax rate was 38.1
per cent (2008: 30.4%). Increase in
tax rate was mainly due to negative
profits in several companies in Baltic      
countries and Russia.            
                                              
STATEMENT OF COMPREHENSIVE
INCOME JAN 1 - DEC 31, 2009 (EUR million)           
     

----------------------------------------------------------------------------
     ----
|
                                               |   1-12/2009 |     1-12/2008
     |
-----------------------------------------------------------------------------
     ---
|
Profit for the report period                   |        66.2 |         134.3
     |
-----------------------------------------------------------------------------
     ---
|
Other comprehensive income and expenses        |             |              
     |
-----------------------------------------------------------------------------
     ---
|
- Change in the fair value of interest         |        -3.1 |          -4.7
|
| derivatives                                    |             |            
 
     |
-----------------------------------------------------------------------------
     ---
|
-- Deferred tax                                |         0.0 |           1.2
     |
-----------------------------------------------------------------------------
     ---
|
-- Transferred to income statement             |         3.1 |           0.0
     |
-----------------------------------------------------------------------------
     ---
|
- Change in translation differences            |        -5.9 |         -35.8
     |
-----------------------------------------------------------------------------
     ---
|
- Other change                                 |        -0.6 |          -0.3
     |
-----------------------------------------------------------------------------
     ---
|
Other comprehensive income, total              |        -6.4 |         -39.6
     |
-----------------------------------------------------------------------------
     ---
|
Total comprehensive income                     |        59.7 |          94.7
     |
-----------------------------------------------------------------------------
          ---
---------------------------------------------------------------------------
     -----
|
Attributable to                                |             |              
     |
-----------------------------------------------------------------------------
     ---
|
Equity holders of the parent company           |        60.9 |          93.7
     |
-----------------------------------------------------------------------------
     ---
|
Minority interests                             |        -1.2 |           1.0
     |
-----------------------------------------------------------------------------
     ---

CONSOLIDATED
INCOME STATEMENT OCT 1 - DEC 31, 2009 (EUR million)               
     

----------------------------------------------------------------------------
     ----
|
                                      | 10-12/2009 | 10-12/2008 |     change
     |
-----------------------------------------------------------------------------
     ---
|
Revenue                               |      960.5 |    1 050.7 |        -9%
     |
-----------------------------------------------------------------------------
     ---
|
  of which activities outside Finland |      543.0 |      586.8 |        -7%
     |
-----------------------------------------------------------------------------
     ---
|
Other operating income and expenses   |     -892.3 |     -993.5 |       -10%
     |
-----------------------------------------------------------------------------
     ---
|
Depreciation and write-downs          |       -0.6 |       -0.1 |       500%
     |
-----------------------------------------------------------------------------
     ---
|
Operating profit                      |       -8.4 |       -8.7 |        -3%
     |
-----------------------------------------------------------------------------
     ---
|
  % of revenue                        |       59.7 |       48.4 |        23%
     |
-----------------------------------------------------------------------------
     ---
|
Financial income 1)                   |        6.2 |        4.6 |        35%
     |
-----------------------------------------------------------------------------
     ---
|
Exchange rate differences             |        1.9 |        1.2 |        58%
     |
-----------------------------------------------------------------------------
     ---
|
Financial expenses                    |       -5.9 |      -27.6 |       -79%
     |
-----------------------------------------------------------------------------
     ---
|
Profit before taxes                   |       -6.2 |      -16.7 |       -63%
     |
-----------------------------------------------------------------------------
     ---
|
  % of revenue                        |       49.5 |        5.3 |       834%
     |
-----------------------------------------------------------------------------
     ---
|
Income taxes 2)                       |        5.2 |        0.5 |       931%
     |
-----------------------------------------------------------------------------
     ---
|
Profit for the report period          |      -19.2 |       -2.6 |       654%
     |
-----------------------------------------------------------------------------
     ---
|
  % of revenue                        |       30.2 |        2.8 |      1007%
     |
-----------------------------------------------------------------------------
     ---
|
                                      |        3.2 |        0.3 |      1223%
     |
-----------------------------------------------------------------------------
     ---
|
Attributable to                       |            |            |           
     |
-----------------------------------------------------------------------------
     ---
|
Equity holders of the parent company  |            |            |           
     |
-----------------------------------------------------------------------------
     ---
|
Minority interests                    |       30.3 |        2.7 |      1004%
     |
-----------------------------------------------------------------------------
     ---
|
                                      |       -0.1 |        0.1 |      -200%
     |
-----------------------------------------------------------------------------
     ---
|
Earnings per share attributable to    |            |            |           
|
| the equity holders of the parent      |            |            |         
  |
| company                               |            |            |       
   
     |
-----------------------------------------------------------------------------
     ---
|
Earnings per share, EUR               |       0.24 |       0.03 |       700%
     |
-----------------------------------------------------------------------------
     ---
|
Diluted earnings per share, EUR       |       0.24 |       0.03 |       700%
     |
-----------------------------------------------------------------------------
     ---


CONSOLIDATED
BALANCE SHEET (EUR million)                                       
     

----------------------------------------------------------------------------
     ----
|
                                      |    12/2009 |    12/2008 |     change
     |
-----------------------------------------------------------------------------
     ---
|
ASSETS                                |            |            |           
     |
-----------------------------------------------------------------------------
          ---
---------------------------------------------------------------------------
     -----
|
Non-current assets                    |            |            |           
     |
-----------------------------------------------------------------------------
     ---
|
Property, plant and equipment         |       99.8 |      104.6 |        -5%
     |
-----------------------------------------------------------------------------
     ---
|
Goodwill                              |      291.0 |      291.0 |         0%
     |
-----------------------------------------------------------------------------
     ---
|
Other intangible assets               |       32.8 |       35.1 |        -7%
     |
-----------------------------------------------------------------------------
     ---
|
Shares in associated companies        |        3.2 |        3.8 |       -16%
     |
-----------------------------------------------------------------------------
     ---
|
Investments                           |        2.0 |        2.5 |       -20%
     |
-----------------------------------------------------------------------------
     ---
|
Receivables                           |       14.4 |       12.7 |        13%
     |
-----------------------------------------------------------------------------
     ---
|
Deferred tax assets                   |       39.8 |       34.6 |        14%
     |
-----------------------------------------------------------------------------
          ---
---------------------------------------------------------------------------
     -----
|
Current assets                        |            |            |           
     |
-----------------------------------------------------------------------------
     ---
|
Inventories                           |    1,309.5 |    1,509.9 |       -13%
     |
-----------------------------------------------------------------------------
     ---
|
Trade and other receivables           |      660.8 |      778.0 |       -15%
     |
-----------------------------------------------------------------------------
     ---
|
Cash and cash equivalents             |      173.1 |      201.7 |       -14%
     |
-----------------------------------------------------------------------------
          ---
---------------------------------------------------------------------------
     -----
|
Total assets                          |    2,626.4 |    2,973.9 |       -12%
     |
-----------------------------------------------------------------------------
          ---
---------------------------------------------------------------------------
     -----
|
EQUITY AND LIABILITIES                |            |            |           
     |
-----------------------------------------------------------------------------
          ---
---------------------------------------------------------------------------
     -----
|
Equity attributable to equity holders |            |            |           
|
| of the parent company                 |            |            |         
 
     |
-----------------------------------------------------------------------------
     ---
|
Share capital                         |      149.2 |      149.2 |          -
     |
-----------------------------------------------------------------------------
     ---
|
Other equity                          |      648.8 |      653.9 |        -1%
     |
-----------------------------------------------------------------------------
          ---
---------------------------------------------------------------------------
     -----
|
Minority interests                    |        2.6 |        4.6 |       -43%
     |
-----------------------------------------------------------------------------
          ---
---------------------------------------------------------------------------
     -----
|
Total equity                          |      800.6 |      807.7 |        -1%
     |
-----------------------------------------------------------------------------
          ---
---------------------------------------------------------------------------
     -----
|
Non-current liabilities               |            |            |           
     |
-----------------------------------------------------------------------------
     ---
|
Deferred tax liabilities              |       73.6 |       68.4 |         8%
     |
-----------------------------------------------------------------------------
     ---
|
Pension liabilities                   |       17.6 |       19.7 |       -11%
     |
-----------------------------------------------------------------------------
     ---
|
Provisions                            |       49.0 |       45.0 |         9%
     |
-----------------------------------------------------------------------------
     ---
|
Interest-bearing liabilities          |      502.0 |      516.2 |        -3%
     |
-----------------------------------------------------------------------------
     ---
|
Other liabilities                     |        3.3 |        4.0 |       -18%
     |
-----------------------------------------------------------------------------
          ---
---------------------------------------------------------------------------
     -----
|
Current liabilities                   |            |            |           
     |
-----------------------------------------------------------------------------
     ---
|
Trade and other payables              |      971.5 |    1 140.8 |       -15%
     |
-----------------------------------------------------------------------------
     ---
|
Provisions                            |       40.0 |       42.0 |        -5%
     |
-----------------------------------------------------------------------------
     ---
|
Interest-bearing current liabilities  |      168.8 |      330.1 |       -49%
     |
-----------------------------------------------------------------------------
          ---
---------------------------------------------------------------------------
     -----
|
Total equity and liabilities          |    2,626.4 |    2,973.9 |       -12%
     |
-----------------------------------------------------------------------------
     ---


CONSOLIDATED
STATEMENT OF CHANGES IN EQUITY (EUR million)                      
     

----------------------------------------------------------------------------
     ----
|
         | Shar | Lega | Othe | Cumul | Fair | Trea | Retain | Minor | Total
|
|          | e    | l    | r    | ative | valu | sury | ed     | ity   |
equit |
|          | capi | rese | rese | trans | e    | shar | earnin | inter
| y     |
|          | tal  | rve  | rve  | latio | rese | es   | gs     | est
  |       |
|          |      |      |      | n     | rve  |      |        |  
    |       |
|          |      |      |      | diffe |      |      |        |
      |       |
|          |      |      |      | rence |      |      |       
|       |       |
|          |      |      |      | s     |      |      |     
  |       |      
     |
-----------------------------------------------------------------------------
     ---
|
Equity   | 149. |  1.4 | 13.9 | -35.2 | -1.7 | -6.6 |  682.1 |   4.6 | 807.7
|
| on Jan   |    2 |      |      |       |      |      |        |       |    
  |
| 1, 2009  |      |      |      |       |      |      |        |       |  
   
     |
-----------------------------------------------------------------------------
     ---
|
Dividend |    - |    - |    - |     - |    - |      |  -62.5 |  -0.8 | -63.3
|
| paid,    |      |      |      |       |      |      |        |       |    
  |
| EUR      |      |      |      |       |      |      |        |       |  
    |
| 0.50/sha |      |      |      |       |      |      |        |       |
      |
| re       |      |      |      |       |      |      |        |      
|      
     |
-----------------------------------------------------------------------------
     ---
|
Purchase |    - |    - |    - |     - |    - | -4.0 |      - |     - |  -4.0
|
| of       |      |      |      |       |      |      |        |       |    
  |
| treasury |      |      |      |       |      |      |        |       |  
    |
| shares   |      |      |      |       |      |      |        |       |
     
     |
-----------------------------------------------------------------------------
     ---
|
Shares   |    - |    - |    - |     - |    - |    - |      - |     - |      
|
| subscrib |      |      |      |       |      |      |        |       |    
  |
| ed with  |      |      |      |       |      |      |        |       |  
    |
| options  |      |      |      |       |      |      |        |       |
     
     |
-----------------------------------------------------------------------------
     ---
|
Employee |    - |    - | -2.3 |     - |    - |    - |    2.8 |     - |   0.5
|
| share    |      |      |      |       |      |      |        |       |    
  |
| option   |      |      |      |       |      |      |        |       |  
    |
| scheme   |      |      |      |       |      |      |        |       |
     
     |
-----------------------------------------------------------------------------
     ---
|
Transfer |    - |  0.3 |    - |     - |    - |    - |   -0.3 |     - |   0.0
|
| from     |      |      |      |       |      |      |        |       |    
  |
| retained |      |      |      |       |      |      |        |       |  
    |
| earnings |      |      |      |       |      |      |        |       |
     
     |
-----------------------------------------------------------------------------
     ---
|
Other    |    - |    - |    - |  -7.3 |  0.0 |    - |   68.2 |  -1.2 |  59.7
|
| comprehe |      |      |      |       |      |      |        |       |    
  |
| nsive    |      |      |      |       |      |      |        |       |  
    |
| income,  |      |      |      |       |      |      |        |       |
      |
| total    |      |      |      |       |      |      |        |      
|      
     |
-----------------------------------------------------------------------------
     ---
|
Equity   | 149. |  1.7 | 11.6 | -42.5 | -1.7 | -10. |  690.3 |   2.6 | 800.6
|
| on Dec   |    2 |      |      |       |      |    6 |        |       |    
  |
| 31, 2009 |      |      |      |       |      |      |        |       |  
   
     |
-----------------------------------------------------------------------------
     ---
|
         | Shar | Lega | Othe | Cumul | Fair | Trea | Retain | Minor | Total
|
|          | e    | l    | r    | ative | valu | sury | ed     | ity   |
equit |
|          | capi | rese | rese | trans | e    | shar | earnin | inter
| y     |
|          | tal  | rve  | rve  | latio | rese | es   | gs     | est
  |       |
|          |      |      |      | n     | rve  |      |        |  
    |       |
|          |      |      |      | diffe |      |      |        |
      |       |
|          |      |      |      | rence |      |      |       
|       |       |
|          |      |      |      | s     |      |      |     
  |       |      
     |
-----------------------------------------------------------------------------
     ---
|
Equity   | 149. |  1.0 | 13.9 |  -9.0 |  2.0 |  0.0 |  657.6 |   3.8 | 818.4
|
| on Jan   |    1 |      |      |       |      |      |        |       |    
  |
| 1, 2008  |      |      |      |       |      |      |        |       |  
   
     |
-----------------------------------------------------------------------------
     ---
|
Dividend |    - |    - |    - |     - |    - |    - | -101.8 |  -0.2 | -102.
|
| paid,    |      |      |      |       |      |      |        |       |    
0 |
| EUR      |      |      |      |       |      |      |        |       |  
    |
| 0.80/sha |      |      |      |       |      |      |        |       |
      |
| re       |      |      |      |       |      |      |        |      
|      
     |
-----------------------------------------------------------------------------
     ---
|
Purchase |    - |    - |    - |     - |    - | -6.6 |      - |     - |  -6.6
|
| of       |      |      |      |       |      |      |        |       |    
  |
| treasury |      |      |      |       |      |      |        |       |  
    |
| shares   |      |      |      |       |      |      |        |       |
     
     |
-----------------------------------------------------------------------------
     ---
|
Shares   |  0.1 |    - |    - |     - |   -  |    - |      - |     - |   0.1
|
| subscrib |      |      |      |       |      |      |        |       |    
  |
| ed with  |      |      |      |       |      |      |        |       |  
    |
| options  |      |      |      |       |      |      |        |       |
     
     |
-----------------------------------------------------------------------------
     ---
|
Employee |    - |    - |    - |     - |    - |    - |    3.2 |     - |   3.2
|
| share    |      |      |      |       |      |      |        |       |    
  |
| option   |      |      |      |       |      |      |        |       |  
    |
| scheme   |      |      |      |       |      |      |        |       |
     
     |
-----------------------------------------------------------------------------
     ---
|
Transfer |    - |  0.4 |    - |     - |    - |    - |   -0.4 |     - |   0.0
|
| from     |      |      |      |       |      |      |        |       |    
  |
| retained |      |      |      |       |      |      |        |       |  
    |
| earnings |      |      |      |       |      |      |        |       |
     
     |
-----------------------------------------------------------------------------
     ---
|
Other    |    - |   -  |  0.0 | -26.2 | -3.7 |    - |  123.5 |   1.0 |  94.6
|
| comprehe |      |      |      |       |      |      |        |       |    
  |
| nsive    |      |      |      |       |      |      |        |       |  
    |
| income,  |      |      |      |       |      |      |        |       |
      |
| total    |      |      |      |       |      |      |        |      
|      
     |
-----------------------------------------------------------------------------
     ---
|
Equity   | 149. |  1.4 | 13.9 | -35.2 | -1.7 | -6.6 |  682.1 |   4.6 | 807.7
|
| on Dec   |    2 |      |      |       |      |      |        |       |    
  |
| 31, 2008 |      |      |      |       |      |      |        |       |  
   
     |
-----------------------------------------------------------------------------
     ---




CONSOLIDATED
CASH FLOW STATEMENT (EUR million)                                 
     

----------------------------------------------------------------------------
     ----
|
                                      |  1-12/2009 |  1-12/2008 |     change
     |
-----------------------------------------------------------------------------
     ---
|
Cash flows from operating activities  |            |            |           
     |
-----------------------------------------------------------------------------
     ---
|
Net profit for the period             |       65.9 |      134.3 |       -51%
     |
-----------------------------------------------------------------------------
     ---
|
Reversal of accrual-based items       |      165.2 |      197.1 |       -16%
     |
-----------------------------------------------------------------------------
     ---
|
Change in working capital             |            |            |           
     |
-----------------------------------------------------------------------------
     ---
|
Change in trade and other receivables |      124.3 |        4.5 |      2662%
     |
-----------------------------------------------------------------------------
     ---
|
Change in inventories                 |      148.7 |     -318.2 |      -147%
     |
-----------------------------------------------------------------------------
     ---
|
Change in current liabilities         |     -170.3 |      132.4 |      -229%
     |
-----------------------------------------------------------------------------
     ---
|
Change in working capital, total      |      102.7 |     -181.3 |      -157%
     |
-----------------------------------------------------------------------------
     ---
|
Interest paid                         |      -35.3 |      -45.5 |       -22%
     |
-----------------------------------------------------------------------------
     ---
|
Realised exchange rate gain or losses |      -22.0 |        2.7 |      -915%
     |
-----------------------------------------------------------------------------
     ---
|
Interest received                     |        4.7 |        5.8 |       -18%
     |
-----------------------------------------------------------------------------
     ---
|
Taxes paid                            |      -38.7 |      -65.3 |       -41%
     |
-----------------------------------------------------------------------------
     ---
|
Net cash generated from operating     |      242.5 |       47.8 |       407%
|
| activities                            |            |            |         
 
     |
-----------------------------------------------------------------------------
          ---
---------------------------------------------------------------------------
     -----
|
Cash flows from investing activities  |            |            |           
     |
-----------------------------------------------------------------------------
     ---
|
Acquisition of subsidiaries, net of   |       -7.5 |      -38.9 |       -81%
|
| cash                                  |            |            |         
 
     |
-----------------------------------------------------------------------------
     ---
|
Acquisition of shares in associated   |        0.0 |       -0.2 |     -100% 
|
| companies                             |            |            |         
 
     |
-----------------------------------------------------------------------------
     ---
|
Purchase of property, plant and       |      -20.8 |      -33.5 |       -38%
|
| equipment                             |            |            |         
 
     |
-----------------------------------------------------------------------------
     ---
|
Purchase of intangible assets         |       -7.2 |       -4.1 |        76%
     |
-----------------------------------------------------------------------------
     ---
|
Disposals of subsidiaries and         |        0.0 |        4.2 |      -100%
|
| businesses                            |            |            |         
 
     |
-----------------------------------------------------------------------------
     ---
|
Proceeds from sale of tangible and    |        4.1 |        4.7 |       -13%
|
| intangible assets                     |            |            |         
 
     |
-----------------------------------------------------------------------------
     ---
|
Proceeds from sale of other           |        0.3 |        0.6 |       -50%
|
| investments                           |            |            |         
 
     |
-----------------------------------------------------------------------------
     ---
|
Net cash used in investing activities |      -31.1 |      -67.2 |       -54%
     |
-----------------------------------------------------------------------------
          ---
---------------------------------------------------------------------------
     -----
|
Operating cash flow after investments |      211.4 |      -19.4 |          -
     |
-----------------------------------------------------------------------------
          ---
---------------------------------------------------------------------------
     -----
|
Cash flow from financing activities   |            |            |           
     |
-----------------------------------------------------------------------------
     ---
|
Proceeds from share issues            |        0.0 |        0.1 |      -100%
     |
-----------------------------------------------------------------------------
     ---
|
Change in current liabilities         |     -120.2 |      103.3 |      -216%
     |
-----------------------------------------------------------------------------
     ---
|
Proceeds from borrowings              |       60.0 |      265.0 |       -77%
     |
-----------------------------------------------------------------------------
     ---
|
Repayments of borrowings              |     -110.6 |      -97.5 |        13%
     |
-----------------------------------------------------------------------------
     ---
|
Payments of financial leasing debts   |       -0.3 |       -0.5 |       -40%
     |
-----------------------------------------------------------------------------
     ---
|
Purchase of treasury shares           |       -4.0 |       -6.6 |       -39%
     |
-----------------------------------------------------------------------------
     ---
|
Dividends paid                        |      -63.4 |     -102.0 |       -38%
     |
-----------------------------------------------------------------------------
     ---
|
Net cash used in financing activities |     -238.5 |      161.8 |      -247%
     |
-----------------------------------------------------------------------------
          ---
---------------------------------------------------------------------------
     -----
|
Net change in cash and cash           |      -27.1 |      142.4 |      -119%
|
| equivalents                           |            |            |         
 
     |
-----------------------------------------------------------------------------
     ---
|
Cash and cash equivalents at the      |      197.7 |       59.2 |       234%
|
| beginning of the period               |            |            |         
 
     |
-----------------------------------------------------------------------------
     ---
|
Change in the fair value of the cash  |        2.5 |       -3.9 |      -164%
|
| equivalents                           |            |            |         
 
     |
-----------------------------------------------------------------------------
     ---
|
Cash and cash equivalents at the end  |      173.1 |      197.7 |       -12%
|
| of the period                         |            |            |         
 
     |
-----------------------------------------------------------------------------
     ---





3.
NOTES                                                                       


ACCOUNTING PRINCIPLES OF THE FINANCIAL STATEMENTS BULLETIN                 
    

YIT Corporation's financial statements for January 1 - December 31,
2009 have   
been drafted in line with the IAS 34 Interim Financial Reporting
standard. The  
consolidated financial statements have been drafted in
compliance with the      
International Financial Reporting Standards, and the
IAS/IFRS standards approved
by the EU Commission by December 31, 2009 and SIC
and IFRIC interpretations have
been complied with in the drafting of the
statements. Standard amendments or new
interpretations that took effect in
2009 have not had a significant effect on   
the Group's financial statements
for 2009. The financial statements bulletin is 
based on the audited financial
statements for 2009.                             

Impact of new standards or
interpretations                                      
The following revised
standards that have come into force in 2009 had an impact 
on YIT Group's
financial reporting:                                             

IFRS 8
Operating Segments: According to standard, the segment figures presented 
must
be based on the internal reports regularly reviewed by the entity's       

management. Adopting this standard 2009 has not changed significantly Group's
  
segment reporting, as already previously published segment information was
based
on internal reporting structure.                                        
       
IAS 23 (revised) Borrowing cost: Standard provides, that borrowing
costs        
directly attributable to certain qualified assets, e.g.
construction project,   
shall be capitalised as part of the cost of that
asset. Previously all borrowing
costs could be recognised as an expense
immediately. Borrowing costs            
attributable to construction projects
that begin on January 1, 2009 or later    
will be capitalised in the balance
sheet and are recognised to Profit and loss  
account when project revenue is
recognised.                                     
IAS 1 (revised) Presentation
of financial statements: The change in accounting  
policy only impacts
presentation of profit and loss account and the statement of
changes in equity
as well as some terms in the financial statements. Non-owner  
changes in
equity are presented in a comprehensive income statement. In 2009    
Group
has disclosed two separate calculations Income statement and
Comprehensive
income statement. Also comparative information has been
re-presented.           

Evaluation of the future impact of new
interpretations                          

IFRIC 15 Agreements for the
Construction of Real Estate: The interpretation     
provides guidance on when
to account for revenue from the construction of real  
estate based on
delivery according to the IAS 18 standard and when the          
percentage of
completion method can be used in accordance with the IAS 11       
standard.
The entry into force of the interpretation will change YIT Group's    
revenue
recognition in Construction Services Finland and International         

Construction Services segments from housing developer contracting to take
place 
mainly at the time of delivery, while so far revenue and operating
profit have  
been recognized based on the percentage of completion and
percentage of sale.   
Application of the percentage of completion method
according to IAS 11 may      
possibly continue contract specific in
construction of business premises. The   
application will mainly have an
impact on the reporting of revenue, operating   
profit, profit for the
period, inventories, trade receivables, advances         
received,
interest-bearing liabilities, deferred taxes, shareholders' equity and
balance
sheet total. The amendment will also have an impact on the key figures. 
The
interpretation shall be applied to the financial period starting on January

1, 2010. YIT Group has analyzed the impact of the implementation of IFRIC 15
for
Group's key figures, using preliminary comparative figures for the year
2009.   
The adjusted revenue for the year 2009 is about EUR 3,486 million
(effect EUR   
+33 million, +1.0%), adjusted profit before taxes EUR 110
million (effect EUR +3
million, +2.5%), adjusted retained earnings about EUR
654 million (effect EUR   
-37 million, -5.3% ), adjusted equity ratio 32.4%
(effect -1.4 %-units),        
adjusted return on investment 10.8% (effect
-0.1 %-units), adjusted operating   
cash flow after investments about EUR 230
million (effect EUR +18 million,      
corresponding negative effect in cash
flow from financing activities and no     
effect on total net change in
cash), adjusted dividend payout ratio according to
Board of Directors proposal
73.2% (effect -1.7 %-units). The effect of the      
IFRIC15 adoption will
fluctuate significantly in reporting periods depending on 
the amount of
completions of different construction projects during that period.
The
adoption of IFRIC15 will not change the management's segment reporting or  

the accounting principles in there.                                          
  

Other applied or future standards, amendments or interpretations have
minor     
effects on YIT Group's reporting.                                  
            
The effects are fully described in the financial statements 2009.
              

Currency exchange rates used in the Financial Statements     
                 
     

----------------------------------------------------------------------------
     ----
|
       |      |    Average |     Balance |    |     Average |  Balance sheet
|
|        |      |       rate |  sheet rate |    |        rate |          
rate |
|        |      |  1-12/2009 |    December |    |   1-12/2008 |  
December 31, |
|        |      |            |    31, 2009 |    |             |
          2008
     |
-----------------------------------------------------------------------------
     ---
|
1 EUR  | SEK  |    10.6189 |     10.2520 |    |      9.6101 |        10.8700
|
| =      |      |            |             |    |             |             
 
     |
-----------------------------------------------------------------------------
     ---
|
       | NOK  |     8.7287 |      8.3000 |    |      8.2181 |         9.7500
     |
-----------------------------------------------------------------------------
     ---
|
       | DKK  |     7.4463 |      7.4418 |    |      7.4560 |         7.4506
     |
-----------------------------------------------------------------------------
     ---
|
       | EEK  |    15.6466 |     15.6466 |    |     15.6466 |        15.6466
     |
-----------------------------------------------------------------------------
     ---
|
       | LVL  |     0.7028 |      0.7028 |    |      0.7028 |         0.7028
     |
-----------------------------------------------------------------------------
     ---
|
       | LTL  |     3.4528 |      3.4528 |    |      3.4528 |         3.4528
     |
-----------------------------------------------------------------------------
     ---
|
       | RUB  |    44.1306 |     43.1540 |    |     36.3922 |        41.2830
     |
-----------------------------------------------------------------------------
     ---
|
       | HUF  |     280.39 |      270.42 |    |      253.20 |         266.70
     |
-----------------------------------------------------------------------------
     ---
|
       | CZK  |     26.436 |      26.473 |    |      24.833 |         26.875
     |
-----------------------------------------------------------------------------
     ---
|
       | PLN  |     4.3270 |      4.1045 |    |      3.5883 |         4.1535
     |
-----------------------------------------------------------------------------
     ---


FINANCIAL
RISK MANAGEMENT                                                      


Financial risks include liquidity, interest rate, currency and credit risk,
and 
their management is a part of the Group's financing policy. The Board of 
      
Directors has approved the Corporate Finance Policy. The Group's
Finance        
Department is responsible for the practical implementation of
the policy in     
association with the business segments and groups.         
                    

The Group's strategic financial targets guide the use
and management of the     
Group's capital. Achieving the strategic targets is
supported by maintaining an 
optimum Group capital structure. Capital
structure is mainly influenced by      
controlling the investments and the
amount of working capital tied to business  
operations.                      
                                              

A more detailed account of
financial risks will be published in the notes to the
financial statements for
2009.                                                  

SEGMENT INFORMATION 
                                                           

As of the
beginning of 2009, the operations of YIT Group have been divided into 
three
business segments: Building and Industrial Services, Construction
Services
Finland and International Construction Services. The segment
structure was      
adjusted at the beginning of the year by merging the
Building Systems and       
Industrial Services segments into a single
segment, Building and Industrial     
Services.                               
                                       

The figures for 2008 are comparison
figures calculated as the business segment  
structure changed on January 1,
2009. YIT published the comparison figures for  
2008 according to the new
segment structure in a stock exchange release on March
23, 2009.              
                                                        

The chief operating
decision-maker has been identified as the YIT Group's       
Management Board,
which review the Group's internal reporting in order to assess
performance and
allocate resources to the segments.                             

Revenue by
business segment (EUR million)                                      
     

----------------------------------------------------------------------------
     ----
|
                                      |  1-12/2009 |  1-12/2008 |     change
     |
-----------------------------------------------------------------------------
     ---
|
Building and Industrial Services 1)   |    2,124.9 |    2,396.0 |       -11%
     |
-----------------------------------------------------------------------------
     ---
|
- Group internal                      |      -58.6 |      -90.2 |       -35%
     |
-----------------------------------------------------------------------------
     ---
|
- external                            |    2,066.3 |    2,305.8 |       -10%
     |
-----------------------------------------------------------------------------
     ---
|
Construction Services Finland         |    1,029.7 |    1,147.9 |       -10%
     |
-----------------------------------------------------------------------------
     ---
|
- Group internal                      |       -1.8 |       -3.7 |       -51%
     |
-----------------------------------------------------------------------------
     ---
|
- external                            |    1,028.0 |    1,144.2 |       -10%
     |
-----------------------------------------------------------------------------
     ---
|
International Construction Services   |      359.4 |      493.5 |       -27%
     |
-----------------------------------------------------------------------------
     ---
|
- Group internal                      |       -3.1 |       -6.4 |       -52%
     |
-----------------------------------------------------------------------------
     ---
|
- external                            |      356.3 |      487.1 |       -27%
     |
-----------------------------------------------------------------------------
     ---
|
Other items                           |        1.8 |        2.6 |       -37%
     |
-----------------------------------------------------------------------------
     ---
|
YIT Group -external                   |    3,452.4 |    3,939.7 |       -12%
     |
-----------------------------------------------------------------------------
     ---

1)
The building system operations acquired from Central Europe transferred to  

YIT on August 1, 2008. The revenue of these operations for August-December
2008 
amounted to EUR 182.6 million.                                          
       

Operating profit by business segment (EUR million)                  
          
     

----------------------------------------------------------------------------
     ----
|
                                      |  1-12/2009 |  1-12/2008 |     change
     |
-----------------------------------------------------------------------------
     ---
|
Building and Industrial Services 1)   |      119.3 |      162.0 |       -26%
     |
-----------------------------------------------------------------------------
     ---
|
Construction Services Finland 2)      |       81.9 |      111.7 |       -27%
     |
-----------------------------------------------------------------------------
     ---
|
International Construction Services   |      -17.8 |        9.0 |      -298%
     |
-----------------------------------------------------------------------------
     ---
|
Other items                           |      -17.9 |      -22.0 |       -19%
     |
-----------------------------------------------------------------------------
     ---
|
YIT Group, total                      |      165.5 |      260.6 |       -36%
     |
-----------------------------------------------------------------------------
     ---

1a)
The building system operations acquired from Central Europe transferred to 

YIT on August 1, 2008.                                                       
  
1b) On September 30, 2009, the court of arbitration                        
    
issued its ruling in the dispute concerning the mechanical installation
contract
YIT carried out for Neste Oil's Porvoo oil refinery. The effect of
the ruling on
Building and Industrial Services' operating profit for 2009 was
EUR -3.2        
million.                                                     
                  
2) The Supreme Court issued its ruling on disputes
connected with the renovation
of SOK's former head office building on March
10, 2008. The ruling had a        
positive effect of EUR 3.5 million on the
Construction Services Finland         
operating profit for 2008.             
                                        

Order backlog by business segment
at end of period (EUR million)               
     

----------------------------------------------------------------------------
     ----
|
                                      |    12/2009 |    12/2008 |     change
     |
-----------------------------------------------------------------------------
     ---
|
Building and Industrial Services 1)   |      850.4 |    1,050.2 |       -19%
     |
-----------------------------------------------------------------------------
     ---
|
Construction Services Finland         |    1,007.5 |      874.2 |        15%
     |
-----------------------------------------------------------------------------
     ---
|
International Construction Services   |      960.1 |    1,369.3 |       -30%
|
| 2)                                    |            |            |         
 
     |
-----------------------------------------------------------------------------
     ---
|
Other items                           |      -44.4 |      -60.0 |       -26%
     |
-----------------------------------------------------------------------------
     ---
|
YIT Group, total                      |    2,773.6 |    3,233.7 |       -14%
     |
-----------------------------------------------------------------------------
     ---

1)
The business operations acquired from Central Europe transferred to YIT on  

August 1, 2008. The order backlog of these operations amounted to EUR 265.6  
  
million at the end of 2008.                                                
    
2) The order backlog includes projects suspended in October 2008. At the
end of 
2009, the value of the projects that were still suspended amounted to
EUR 282   
million in the order backlog (12/08: EUR 356 million).             
            

UNUSUAL ITEMS AFFECTING OPERATING PROFIT (EUR million)         
               
     

----------------------------------------------------------------------------
     ----
|
                                               |    1-12/2009 |    1-12/2008
     |
-----------------------------------------------------------------------------
     ---
|
Building and Industrial Services 1)            |         -3.2 |            -
     |
-----------------------------------------------------------------------------
     ---
|
Construction Services Finland 2)               |            - |          3.5
     |
-----------------------------------------------------------------------------
     ---
|
YIT Group, total                               |         -3.2 |          3.5
     |
-----------------------------------------------------------------------------
     ---

1)
On September 30, 2009, the court of arbitration issued its ruling in the    

dispute concerning the mechanical installation contract YIT carried out for  
  
Neste Oil's Porvoo oil refinery. The effect of the ruling on Building and  
    
Industrial Services' operating profit for 2009 was EUR -3.2 million.     
      

2) The Supreme Court issued its ruling on disputes connected with the
renovation
of SOK's former head office building on March 10, 2008. The ruling
had a        
positive effect of EUR 3.5 million on the Construction Services
Finland         
operating profit for 2008.                                   
                  

ACQUIRED AND DIVESTED BUSINESSES (EUR million)           
                      

During the review period there were no acquisitions
or major divestments.       

The cash flow effect of the business acquired
in 2008 was EUR 7.5 million for   
the review period. In 2008, YIT acquired
building systems operations in Germany,
Austria, Poland, the Czech Republic,
Hungary and Romania and they were          
transferred to YIT on August 1,
2008.                                           

CHANGES IN PROPERTY, PLANT
AND EQUIPMENT (EUR million)                         
     

----------------------------------------------------------------------------
     ----
|
                                      |  1-12/2009 |  1-12/2008 |     change
     |
-----------------------------------------------------------------------------
     ---
|
Carrying value at the beginning of    |      104.6 |       92.5 |        13%
|
| period                                |            |            |         
 
     |
-----------------------------------------------------------------------------
     ---
|
Increase                              |       21.5 |       33.2 |       -35%
     |
-----------------------------------------------------------------------------
     ---
|
Increase through acquisitions         |        0.0 |        6.2 |      -100%
     |
-----------------------------------------------------------------------------
     ---
|
Decrease                              |       -3.4 |       -3.4 |          -
     |
-----------------------------------------------------------------------------
     ---
|
Depreciation and value adjustments    |      -22.9 |      -24.6 |        -7%
     |
-----------------------------------------------------------------------------
     ---
|
Reclassification                      |        0.0 |        0.7 |      -100%
     |
-----------------------------------------------------------------------------
     ---
|
Carrying value at the end of period   |       99.8 |      104.6 |        -5%
     |
-----------------------------------------------------------------------------
     ---

INVENTORIES
(EUR million)                                                      
     

----------------------------------------------------------------------------
     ----
|
                                      |    12/2009 |    12/2008 |     change
     |
-----------------------------------------------------------------------------
     ---
|
Raw materials and consumables         |       18.8 |       20.1 |        -6%
     |
-----------------------------------------------------------------------------
     ---
|
Work in progress                      |      441.9 |      690.5 |       -36%
     |
-----------------------------------------------------------------------------
     ---
|
Land areas and plot owing companies   |      572.1 |      579.3 |        -1%
     |
-----------------------------------------------------------------------------
     ---
|
Shares in completed housing and real  |      224.8 |      135.9 |        65%
|
| estate companies                      |            |            |         
 
     |
-----------------------------------------------------------------------------
     ---
|
Advance payments                      |       51.5 |       83.7 |       -38%
     |
-----------------------------------------------------------------------------
     ---
|
Other inventories                     |        0.4 |        0.4 |         0%
     |
-----------------------------------------------------------------------------
     ---
|
Total inventories                     |    1,309.5 |    1,509.9 |       -13%
     |
-----------------------------------------------------------------------------
     ---

NOTES
ON EQUITY (EUR million)                                                  
     

----------------------------------------------------------------------------
     ----
|
Share capital and share premium | Number of |  Share |  Treasury |     Total
|
| reserve                         |   shares, | capita |    shares |        
  |
|                                 |      1000 |      l |           |      
   
     |
-----------------------------------------------------------------------------
     ---
|
Jan 1, 2009                     | 125,798,4 |  149.2 | 125,798,4 |      -6.6
|
|                                 |        22 |        |        22 |        
 
     |
-----------------------------------------------------------------------------
     ---
|
Purchase of own shares          |  -720,000 |        |  -720,000 |      -4.0
     |
-----------------------------------------------------------------------------
     ---
|
Dec 31, 2009                    | 125,078,4 |  149.2 | 125,078,4 |     -10.6
|
|                                 |        22 |        |        22 |        
 
     |
-----------------------------------------------------------------------------
     ---

INTEREST-BEARING
LIABILITIES (EUR million)                                      

No new
long-term bonds were issued during the review period.                   


CHANGE IN CONTINGENT LIABILITIES AND ASSETS AND COMMITMENTS (EUR million)  
   
     

----------------------------------------------------------------------------
     ----
|
                                      |    12/2009 |    12/2008 |     change
     |
-----------------------------------------------------------------------------
     ---
|
Collateral given for own commitments  |            |            |           
     |
-----------------------------------------------------------------------------
     ---
|
- Corporate mortgages                 |       29.3 |       29.3 |         0%
     |
-----------------------------------------------------------------------------
     ---
|
- Other mortgages                     |       45.2 |          - |           
     |
-----------------------------------------------------------------------------
     ---
|
Other commitments                     |            |            |           
     |
-----------------------------------------------------------------------------
     ---
|
- Repurchase commitments              |      106.4 |      139.1 |       -24%
     |
-----------------------------------------------------------------------------
     ---
|
- Operating leases                    |      321.9 |      352.2 |        -9%
     |
-----------------------------------------------------------------------------
     ---
|
- Rental guarantees for clients       |        9.2 |       11.0 |       -16%
     |
-----------------------------------------------------------------------------
     ---
|
- Other contingent liabilities        |        0.4 |        0.6 |      -33% 
     |
-----------------------------------------------------------------------------
     ---
|
Liability under derivative contracts  |            |            |           
     |
-----------------------------------------------------------------------------
     ---
|
- Value of underlying instruments     |            |            |           
     |
-----------------------------------------------------------------------------
     ---
|
-- Interest rate derivatives          |      362.3 |      239.2 |        51%
     |
-----------------------------------------------------------------------------
     ---
|
-- Foreign currency forward contracts |       83.5 |      213.7 |       -61%
     |
-----------------------------------------------------------------------------
     ---
|
- Market value                        |            |            |           
     |
-----------------------------------------------------------------------------
     ---
|
-- Interest rate forward contracts    |       -5.9 |       -5.3 |        11%
     |
-----------------------------------------------------------------------------
     ---
|
- Foreign currency forward contracts  |       -9.4 |       26.8 |      -135%
     |
-----------------------------------------------------------------------------
     ---

TRANSACTIONS
WITH ASSOCIATED COMPANIES (EUR million)                           
     

----------------------------------------------------------------------------
     ----
|
                                      |  1-12/2009 |  1-12/2008 |     change
     |
-----------------------------------------------------------------------------
     ---
|
Sales to associated companies         |        1.3 |        3.6 |       -64%
     |
-----------------------------------------------------------------------------
     ---
|
Purchases from associated companies   |        0.2 |       14.4 |       -99%
     |
-----------------------------------------------------------------------------
     ---
|
Trade and other receivables           |        0.1 |        0.1 |          -
     |
-----------------------------------------------------------------------------
     ---
|
Trade and other liabilities           |        0.1 |        0.5 |       -80%
     |
-----------------------------------------------------------------------------
     ---
 


yit financial statements bulletin 2009.pdf