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YIT Oyj Lowers FY 2013 Operating Profit Guidance and Maintains FY 2013 Revenue Outlook; Repeats FY 2013 Guidance for Revenue and Operating Profit of Continuing Operations

Tuesday, 25 Jun 2013 07:00am EDT 

YIT Oyj announced that the Company has decided to lower its fiscal year 2013 operating profit guidance. The Company estimates that the revenue and operating profit based on segment reporting for the fiscal year 2013 will remain at the level of the year 2012. In its guidance issued in connection with the financial statements bulletin for 2012 on February 5, 2013, YIT estimated that the Company's revenue based on segment reporting will remain at the level of 2012 and the operating profit will grow in 2013. For the fiscal year 2012, the Company reported revenue of EUR 4,705.90 million and operating profit of EUR 259.20 million. According to I/B/E/S Estimates analysts on average are expecting YIT to report revenue of EUR 4,635.41 million for the fiscal year 2013. Additionally, the Company repeated the estimate announced on June 4, 2013, according to which the revenue and operating profit of the Company’s continuing operations based on segment reporting for the fiscal year 2013 will remain at the level of 2012, excluding non-recurring items. YIT’s Construction Services business will form the continuing operations. The guidance is based on the non-IFRS information released on May 21, 2013 and does not include non-recurring costs associated with the demerger. 

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