YIT
| YIT Oyj
|
|
|---|---|
 |
|
| legal form | Joint stock company (Finland) |
| ISIN | FI0009800643 |
| founding | 1912 |
| Seat |
Helsinki , Finland
|
| management | Kari Kauniskangas (President and CEO) |
| Number of employees | 9,900 |
| sales | 3.76 billion euros |
| Branch | construction |
| Website | http://www.yitgroup.com/ |
| As of December 31, 2018 | |
YIT ( Yleinen Insinööritoimisto ) is a publicly traded construction company based in Helsinki, Finland. Today's YIT as a pure construction company came into being in July 2013 when the former building technology and facility management division was spun off as an independently listed company under the name Caverion .
Company history
YIT's origins go back to 1912, when the Swedish Allmänna Ingeniörsbyrån (General Engineering Company) opened an office in Helsinki. In 1920 the Finnish branch became independent and has since been called Yleinen Insinööritoimisto (the general engineering office). The first projects were water supply systems for Finnish cities. From the 1970s, the company turned to the construction of buildings. In 1987, YIT merged with Finnish competitor Perusyhtymä Oy to form YIT Corporation (YIT-Yhtymä). In 1995 YIT went public, the share is listed on NASDAQ OMX in Helsinki. Projects outside of Finland and the desire for expansion suggested that the company should internationalize from the 1990s onwards. Here YIT pursued the strategy of growing on two sides at the same time: On the one hand, the company got involved in project development for residential construction, especially in Russia. On the other hand, the share in building technology was expanded. YIT grew here in the 2000s thanks to several acquisitions, the geographical area expanded across northern and central Europe.
The company entered the Austrian market in 2008 with the takeover of MCE Gebäudetechnik. The business activities of the Austrian MCE also extended to Poland, the Czech Republic and Romania, so that YIT expanded far into Central Europe. In 2010, the Caverion Group was acquired, which was spun off from M + W Zander in 2006 . Since then, YIT Germany has been the second largest provider of building technology in Germany and has a turnover of EUR 633 million (2011) with 2,600 employees. On July 1, 2013, the building technology segment and the FM activities were spun off from the YIT Group again and are managed independently under the name Caverion.
Web links
Individual evidence
- ↑ a b c YIT: Financial Statements Bulletin 2018. (PDF) February 1, 2019, accessed on February 6, 2019 (English).