YIT Capital Markets Day in St.Petersburg
YIT arranged a Capital Markets Day for investors, analysts and key partners in St Petersburg, Russia on September 22, 2011. The aim of the event was to provide insight into the 2012-2014 strategy, the operations of the business segments, and how YIT intends to set further growth at existing and future regional markets. The event was held at the famous century old Astoria hotel which in late 1980s was renovated by YIT.
Balanced and profitable growth is the key company goal. As to YIT Corporation business pattern, engineering systems of real estate, maintenance support and residential construction remain its main avenues of development.
It is plain to see that the Finnish Corporation with its high reputation and a half-century expertise in Russia has managed to achieve a lot in the past decade. Since 2000 the Corporation gradually widened its world presence with new units in 10 other countries. Over this period YIT has more than tripled its profit, operational income has doubled. The employee number has grown 3 times over the same period.
The President and CEO of YIT Corporation Juhani Pitkäkoski noted at the CMD that the Russian market had great potential and positive trends and it could be safely predicted that YIT growth in Russia would exceed 10% yearly.
Mikhail Voziyanov, General Director of YIT Lentek, gave his presentation among the members of the Corporation top management.
Mr. Voziyanov informed that in the last year YIT Lentek sold some 1 600 apartments and today the number of apartments in progress exceeds the last year figure by 200 apartments. The company profit in 2010 constitutes 285 Me. In the fourth quarter of 2010 the company market share of sold apartments was 5.5%, and in the second quarter of 2011 it amounted 7 %. YIT mortgage share in St. Petersburg is now close to 50 %. Thus, today the company enjoys stable market position and continues profitable growth in St. Petersburg.
After the official part of the event the guests visited the construction site of Vita Nova housing development in Primorsky district of St. Petersburg. At the site they had the opportunity to witness the high quality of construction, compliance to labor and fire safety norms and regulations as well as environment protection.
Kind regards,
YIT PR-service
Let us remind you that this year YIT celebrates its 50 anniversary in Russia. The Finnish Construction Corporation is a solid company with a century old reputation on the market and what is important it is also a highly socially responsible organization. Unsurprisingly during the recent Capital Markets Day it initiated a charitable event. Each participant of the CMD received a souvenir - a Russian doll «matrioshka» with a note that 50 Euros were allocated for Children Help Fund «Teply Dom» (Warm house). A total of 65 matrioshkas were presented to the guests and 130,342 rubles were transferred to Fund programs of support for socially challenged children.
It must be noted that this souvenir was not picked by chance. This wooden doll is a well known Russian craft and at the same time it is symbolic as a house and a hearth talisman. Matrioshka can include different number of pieces which together symbolize family members including children of different age.
YIT's help will contribute to the improvement of children's quality of life in various districts of St. Petersburg. The money received will be spent on creativity lessons for the children, food products for families in hardship and entertaining learning events at the family center «Warm island».
