Yit Oyj · OMXHEX:YIT
Yit Oyj — Investor Day (September 2019)
19 slides from Yit Oyj's investor day presentation, September 2019
Slide 1: Maintaining Financial Stability
MAINTAINING FINANCIAL STABILITY ILKKA SALONEN, CFO
Slide 2: Contents
Contents 1 Financing update 2 Financial targets 3 Update on financial topics 4 Guidance
Slide 3: Financing update
1 Financing update TRIPLA, HELSINKI, FINLAND
Slide 4: Financing activities during 2018-2019 (-2021)
Financing activities during 2018-2019 (-2021) February 1, 2018 May 31, 2018 August 8, 2018 January 2020 New EUR 240m bridge JV Regenero Extending maturity Estimated EUR 240 m financing available; new issues a 3-year of the EUR 300 m cash proceeds from the EUR 300 m RCF EUR 100 m senior RCF by 1 year
Slide 5: Balanced debt portfolio
Balanced debt portfolio INTEREST-BEARING DEBT PORTFOLIO1 AT END OF 06/19, MATURITY STRUCTURE, NOMINAL AMOUNTS2 (EUR MILLION) EUR 846 MILLION AT END OF 06/19 Bonds, 41% Housing corporation loans, 24% 150 159 Loans from financial institutions, 15% 129 109 Commercial papers, 9% Pension loans, 6% Other
Slide 6: Net debt/Adjusted EBITDA and gearing
Net debt/Adjusted EBITDA and gearing ADJUSTED NET DEBT / ADJUSTED PRO FORMA EBITDA (multiple, x) GEARING1 (%) 132.1 127.2 129.9 12.3 12.3 123.7 117.3 118.9 109.8 130.4 115.7 112.3 106.1 108.6 107.3 10.3 112.0 104.8 98.7 101.1 96.6 8.1 8.6 79.8 75.5 80.3 70.7 6.1 6 5.6 73.4 4.8 4.8 59.9 Pro forma 53.
Slide 7: Financial targets
2 Financial targets ACCOUNTOR TOWER, KEILANIEMI, ESPOO, FINLAND
Slide 8: Strategic financial targets intact
Strategic financial targets intact Financial target Long-term target level Status at year end 2018 ROCE >12% 5.6%3 Gearing 30-50%1 53.6%4 Dividend per share Growing annually2 EUR 0.27 (0.25) 1 Including the impact of IFRS 16 by the end of the strategy period. 2 The Board of Directors has decided to
Slide 9: Capital allocation rules and targets in the long term
Capital allocation rules and targets in the long term Cash flow and • Dividend policy as previously: annually growing dividend per share dividend policy • BoD’s proposal to the AGM: annual dividends to be paid in two tranches • To maintain strong balance sheet, on average annually positive cashflow
Slide 10: Update on financial topics
3 Update on financial topics TRIPLA, HELSINKI, FINLAND
Slide 11: Closing integration synergies and integration costs follow-up
Closing integration synergies and integration costs follow-up CUMULATIVE SYNERGIES INTEGRATION COSTS 2 Measures done EBIT impact MAIN SOURCES OF SYNERGIES1 EUR million EUR million Cumulative integration tasks 60 60 Automatisation 48 48 External 46 46 services 41 Harmonisation 40 Overlaps 40 34 35 30
Slide 12: Strong order backlog
Strong order backlog ORDER BACKLOG PER SEGMENT, EUR million ESTIMATED SHARE OF REVENUE TO BE RECOGNISED 4,773 4,806 4,652 4,400 4,286 4,302 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 2019 2020 2021 and after Housing FIN & CEE Housing Russia Business premises Infra projects Partnership properties 12 26.9.2019 Cap
Slide 13: Impact of IFRS 16 adoption in 2019 for YIT
Impact of IFRS 16 adoption in 2019 for YIT ESTIMATED ANNUAL IMPACT ON INCOME STATEMENT* IMPACT ON BALANCE SHEET ON 1 JAN 2019 IFRS 16 impact IFRS 16 impact EUR million except for EPS EUR million Revenue No material impact Assets +306 Property plant and equipment, incl. EBITDA +45 +119 leased Operati
Slide 14: Recent structural changes and changes in reporting
Recent structural changes and changes in reporting Continuing operations Discontinued operations Housing Business Infrastructure Partnership Discontinued Housing Russia Other FI&CEE premises projects properties operations Residential Original structure of Original structure of Original structure of
Slide 15: Repurchases of YIT's shares
Repurchases of YIT’s shares • March 12, 2019: • YIT’s AGM authorised BoD to decide on repurchase of max. 21,000,000 of the company’s own shares (~10% of all shares of the company) with funds from the company’s unrestricted shareholders’ equity • July 25, 2019: • BoD decided on repurchase • July 26 -
Slide 16: Guidance
4 Guidance TRIGONI, PASILA, HELSINKI, FINLAND
Slide 17: Estimates of housing starts for 3Q19 and completions by end of 2020
Estimates of housing starts for 3Q19 and completions by end of 2020 • Residential consumer demand stable on a normal level in Finland and Russia; brisk in the CEE countries • Stable outlook in all market areas • Residential housing starts for consumers in 3Q19: • Finland ~600 units • CEE countries ~
Slide 18: Guidance for 2019 unchanged (as given on July 25, 2019)
Guidance for 2019 unchanged (as given on July 25, 2019) The Group revenue of continuing operations for 2019 is estimated to be in the range of +5% and -3% compared to the 2018 combined revenue of continuing operations (pro forma, restated 2018: EUR 3,201.0 million). Previously the company estimated
Slide 19: Together we can do it.
Together we can do it.