Published: 2011-02-04 07:14:12 CET
YIT
Company Announcement

BUILDING SERVICES IN CENTRAL EUROPE WILL BECOME YIT'S FOURTH BUSINESS SEGMENT

Helsinki, 2011-02-04 07:14 CET (GLOBE NEWSWIRE) -- YIT CORPORATION           STOCK EXCHANGE RELEASE       FEB 4, 2011 AT 8:10

 

BUILDING SERVICES IN CENTRAL EUROPE WILL BECOME YIT'S FOURTH BUSINESS SEGMENT 

 

YIT’s Building Services in Central Europe, which have been part of the Building and Industrial Services Business segment, will be separated into a business segment of its own as of March 1, 2011. Building and Industrial Services is divided into two business segments, of which one covers the Nordic countries, Baltic countries and Russia, and the other Central Europe, where YIT currently has business operations in Germany, Austria, Poland, Czech Republic, Hungary and Romania. As of March 1, 2011, YIT’s four business segments will be Building Services Northern Europe, Building Services Central Europe, Construction Services Finland and International Construction Services.

 

Arne Malonæs (53) has been appointed as the Head of Building Services Northern Europe. He has previously acted as the head of the Building and Industrial Services segment. Malonæs will continue as member of the Group Management Board. Karl-Walter Schuster (61) has been appointed as the head of Building Services Central Europe and as member of the Group Management Board. He has previously acted as the head of the Central Europe division within the Building and Industrial Services business segment.

 

YIT is changing its business segment structure due to the growth of building service business operations in Central Europe, their increased share of the Group’s revenue and the significant business development and profitability potential that these operations offer to YIT. YIT's aims to be the leading provider of technical system maintenance and a forerunner in energy-saving services in the Nordic countries and Central Europe. YIT seeks growth by strengthening its local market position and through geographical expansion to new countries. The Group’s potential new market areas in the area of building system services are the United Kingdom, the Netherlands and Belgium.

 

Financial development in line with the new business segment structure (preliminary)

 

 

  2010 2009 2008
Revenue, EUR million      
Building and Industrial Services 2,353.0 2,124.9 2,395.9
- of which Building Services Northern Europe 1,802.8 1,762.8 2,213.3
- of which Building Services Central Europe 550.2 362.1 182.6
       
Operating profit, EUR million      
Building and Industrial Services 105.1 119.3 162.0
- of which Building Services Northern Europe 88.7 106.1 159.1
- of which Building Services Central Europe 16.4 13.2 2.9
       
Operating profit margin, %      
Building and Industrial Services 4.5 5.6 6.8
Building Services Northern Europe 4.9 6.0 7.2
Building Services Central Europe 3.0 3.6 1.6
       
Order backlog, EUR million      
Building and Industrial Services 1,264.4 850.4 1,050.1
- of which Building Services Northern Europe 757.4 626.0 784.5
- of which Building Services Central Europe 507.0 224.4 265.6
       
Personnel      
Building and Industrial Services 19,611 17,557 18,888
- of which Building Services Northern Europe 15,844 15,410 16,805
- of which Building Services Central Europe 3,767 2,147 2,083

 

YIT will publish the comparison figures for 2010 according to the new business segment structure on March 24, 2011. The first Interim Report with the new business segment structure will be published on April 29, 2011.

 

For additional information, please contact:

Juhani Pitkäkoski, President and CEO, +358 20 433 3301, juhani.pitkakoski@yit.fi

Sakari Toikkanen, Senior Vice President, Business Development, +358 40 532 2174, sakari.toikkanen@yit.fi

 

 

YIT Corporation

 

Hanna-Maria Heikkinen

Vice President, Investor Relations

 

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