YIT - Results and outlook as expected
YIT’s Q4 results and 2026 guidance were well within our expectations. Growth targets for Infrastructure and Building construction doubled to 10% and 4% respectively.
- Revenue in Q4 was EUR 557m (EUR 521m in Q4/24), quite in line with our and consensus estimates (Evli/cons. EUR 565.5m/576.0m), up 7% y/y.
- The adj. operating profit in Q4 amounted to EUR 25m (EUR 12m in Q4/24), also well in line with our and consensus estimates (Evli/cons. EUR 24.4m/25.3m).
- EPS in Q4 amounted to EUR 0.00 (Evli/cons. EUR 0.03/0.03)
- The order book at the end of Q4 amounted to EUR 2,915m (EUR 2,929m in Q3/25), of which 75% was sold.
- Residential Finland: Revenue in Q4 was EUR 88m, (Evli: EUR 107m) and adj. EBIT EUR -8m (Evli: EUR -5m)
- Residential CEE: Revenue in Q4 was EUR 151m, (Evli: EUR 153m) and adj. EBIT EUR 26m (Evli: EUR 24m)
- Building Construction: Revenue in Q4 was EUR 175m, (Evli: EUR 175m) and adj. EBIT EUR 1m (Evli: EUR 4m)
- Infrastructure: Revenue in Q4 was EUR 152m, (Evli: EUR 140m) and EBIT EUR 7m (Evli: EUR 7m)
- YIT’s outlook for 2026: 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. Our estimate for 2026 ahead of Q4 was EUR 88m, well in line with the guidance.
- YIT raised the growth targets (CAGR) for the strategy period 2025-2029 for Building construction and Infrastructure to 4% (2%) and 10% (5%) respectively due to faster than anticipated growth.
- YIT announced plans to renew its operating model and began change negotiations, seeking inflation-adjusted cost savings of approximately 15 million euros by the end of 2027, compared to 2025.
- YIT’s BoD proposes that no dividend be distributed.