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YIT Oyj: YIT to renovate the Laajalahti and Tuomarila schools in Espoo using the life-cycle model

12:30 YIT Corporation Investor News May 23, 2019 at 1:30 p.m. YIT and the City of Espoo have agreed on the renovation of the Laajalahti and Tuomarila primary schools in Espoo as well as the expansion of both schools, carried out as a life-cycle project in partnership with Caverion. YITs share of the total value of the contract is approximately EUR 32 million, which will be entered in the order backlog for the second quarter of the year. The construction work will start with demolition work in the autumn 2019. The project is scheduled to be completed in the autumn 2021, which will also mark the beginning of the maintenance period extending until 2041. At Laajalahti school, the floor area to be renovated is 2,794 gross m2 and the size of the expansion will be 4,596 gross m2. At Tuomarila school, the floor area to be renovated is 1,796 gross m2 and the size of the expansion will be 5,415 gross m2. After long preparations and negotiations, it always feels great when the contract is signed and the project gets off the ground for real. The life-cycle projects are a part of the Fix the schools in Espoo initiative. Our cooperation with YIT has worked out well in previous projects and we naturally expect the same from this project, says Kimmo Martinsen, Head of Design Management Unit at the Premises Department. YIT is responsible for the projects overall planning and construction. Caverion is responsible for the design and implementation of the technical building systems. For the expansions to be built, Caverion will also be responsible for property maintenance and long-term repair plans during the 20-year contract period. At both schools, the sections to be renovated are protected buildings that were built in the 1950s, and the life-cycle responsibility for them will remain with the City of Espoo. Excellent energy efficiency and indoor conditions Adaptability, energy efficiency, indoor air quality, functionality and lifecycle thinking are important priorities in the design of the renovations and expansions. The goal of creating versatile learning environments that can be adapted into diverse learning spaces and learning centres provides a framework for the technical solutions employed in the projects construction and technical building systems. The Laajalahti and Tuomarila schools are designed to be functional, versatile and flexible, serving the changing needs of the city, pupils and school staff well into the future. Espoo is a pioneer in the use of the life-cycle model in public buildings, and we have a long history of strong cooperation. We are currently carrying out renovation work at the Kirsti and Viherlaakso schools using the life-cycle model, and we previously used the same contracting model in the renovation of the Lintuvaara and Päivänkehrä schools, says Esa Neuvonen, EVP, Business Premises segment at YIT. The partnership-based life-cycle model has proved its effectiveness in service construction for municipalities, says Ville Tamminen, Executive Vice President and Head of Division Finland at Caverion. For further information, please contact: Hanna Jaakkola, Vice President, Investor Relations, YIT Corporation, tel. +358 (0)40 566 6070, hanna.jaakkola@yit.fi Esa Neuvonen, EVP, Business Premises and Partnership Properties segments, YIT Corporation, tel. +358 (0)40 500 1003, esa.neuvonen@yit.fi YIT CORPORATION Hanna Jaakkola 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 and living services, business premises and entire areas. We are also specialised in demanding infrastructure construction and paving. Together with our customers, our nearly 10,000 professionals are creating more functional, attractive and sustainable cities and environments. We work in 11 countries: Finland, Russia, Scandinavia, 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 2018 was approximately EUR 3.8 billion. YIT Corporations share is listed on Nasdaq Helsinki Oy. www.yitgroup.com (https://emea01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.yitgroup.com%2Ffi&data=02%7C01%7Channa.malmivaara%40yit.fi%7Cb342fcc00ca54847ba5308d6875edb5c%7Cde5d17d0fbc24c29b0f7d6685b6c3ef0%7C0%7C0%7C636845238807745183&sdata=3klUQYeIboEyGms1JOTgrHw2T%2B637BOU2Sp81NZKqyg%3D&reserved=0) ----------------------------------------------------------- https://news.cision.com/yit-oyj/r/yit-to-renovate-the-laajalahti-and-tuomarila-schools-in-espoo-using-the-life-cycle-model,c2822491 © Cision

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