YIT - Operative performance near expectations
YIT’s Q1 results corresponded to our expectations, with revenue of EUR 399m (Evli EUR 410m) and adj. operating profit of EUR 12m (Evli EUR 14m). Operating profit was affected by notable fair value changes of non-strategic items.
- Revenue in Q1 was EUR 399m (EUR 391m in Q1/25), fairly in line with our and consensus estimates (Evli/cons. EUR 410m/384m), up 2% y/y.
- The adj. operating profit in Q1 amounted to EUR 12m (EUR 14m in Q1/24), slightly below our and consensus estimates (Evli/cons. EUR 14m).
- EPS in Q1 amounted to EUR -0.16 (Evli/cons. EUR 0.00/-0.02).
- Q1 included adjusting items of EUR 30m, mainly related to changes in fair value of non-strategic items.
- The order book at the end of Q1 amounted to EUR 2,970m (EUR 2,915m in Q4/25).
- Residential Finland: Revenue in Q1 was EUR 64m, (Evli: EUR 59m) and adj. EBIT EUR -3m (Evli: EUR -3m)
- Residential CEE: Revenue in Q1 was EUR 90m, (Evli: EUR 105m) and adj. EBIT EUR 13m (Evli: EUR 12m)
- Building Construction: Revenue in Q1 was EUR 140m, (Evli: EUR 139m) and adj. EBIT EUR 3m (Evli: EUR 2m)
- Infrastructure: Revenue in Q1 was EUR 114m, (Evli: EUR 115m) and EBIT EUR 2m (Evli: EUR 4m)
- YIT’s outlook for 2026 (reiterated): Group adjusted operating profit for continuing operations is expected to be EUR 70-100 million in 2026. Comparative Group adj. operating profit in 2025 was EUR 50m.
- YIT announced the conclusion of change negotiations related to the renewed operating model, estimating EUR 7m cost savings in 2026 and EUR 18m annual savings by the end of 2027.