Research: identified the largest developers in Latvia
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YIT Corporation Investor News 25 April 2019, at 08:00 a.m.
YIT has been successful in winning seven large traffic infrastructure contracts in Estonia, Latvia and Lithuania during the beginning of the year.
The total value of these contracts is approximately EUR 53 million. EUR 39 million of the contracts won will be recorded in the order backlog for the first quarter of the year. EUR 14 million of the contracts won will be recorded in the order backlog for the second quarter of the year.
In Estonia YIT has won traffic infrastructure contracts worth approximately EUR 23 million. Three projects were won for Estonian Road Administration. First is the reconstruction of road no 22 Rakvere-Väike-Maarja-Vägeva in Eastern Estonia. The project includes milling and paving works. The project has started in March 2019 and will be finished in August 2019.
Second project is the reconstruction of Tallinn ringroad, Luige-Saku section. The project includes reconstruction of the existing road, construction of 3 multi-level intersections, stabilization and paving works, installation of traffic signs, road markings and landscaping work. The project is connected to the Rail Baltica project in Estonia. The project will start in May 2019 and will be finished in May 2021.
Third project is the reconstruction of road no 6 Valga-Uulu in South-Eastern Estonia. The project includes earthworks, stabilization and paving works, construction of drainage, installation of traffic management devices and landscaping works. The project will start in April 2019 and will be finished in August 2019.
In Estonia YIT has also won a road construction project for the City of Rakvere. The project includes e.g. earthworks, paving works, landscaping works and construction of pedestrian overpass and parking lots. The project will start in April 2019 and will be finished in May 2020.
In Latvia YIT has won a road reconstruction project for LCC Binders. The project includes reconstruction of the section of existing main road A3 and junction with main road A2 including earthworks, stabilization works, paving works and installation of traffic signs and barriers. The value of the contract is approximately EUR 4 million. The project will start in April 2019 and will be finished in August 2020.
In Lithuania YIT has won two projects for Lithuanian Road Administration. First is the reconstruction of road no A14 Vilnius-Utena. The project includes earthworks, paving works and construction of a viaduct and a pedestrian underpass. The value of the contract is slightly over EUR 16 million. The project started in March 2019 and will be finished in October 2019.
Another project is a reconstruction of road no 165 Šilalė–Šilutė. The project includes construction of bicycle road. The value of the contract is slightly over EUR 10 million. The project started in March 2019 and will be finished in December 2019.
For further information, please contact:
Hanna Jaakkola, Vice President, Investor Relations, YIT Corporation, tel. +358 40 566 6070, email@example.com
Harri Kailasalo, Executive Vice President, Infrastructure projects, YIT Corporation, tel. +358 400 401 538, firstname.lastname@example.org
Vice President, Investor Relations
Distribution: Nasdaq Helsinki, major media, www.yitgroup.com
YIT is the largest Finnish and significant North European construction company. We develop and build apartments, business premises and entire areas. We are also specialised in demanding infrastructure construction and paving. Together with our customers, our 10,000 professionals are creating more functional, more attractive and more sustainable cities and environments. We work in 11 countries: Finland, Russia, Scandinavia, the Baltic Countries, the Czech Republic, Slovakia and Poland. The new YIT was born when over 100-year-old YIT Corporation and Lemminkäinen Corporation merged on February 1, 2018. Our pro forma revenue for 2017 was over EUR 3.8 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com