YIT (YIT) Pre-Silent call summary

Executive summary

• Transformation program progressing faster than expected, with €40 million annualized cost savings to be fully realized by end of 2024.

• Capital Markets Day scheduled for mid-November will introduce updated strategy and new financial targets.

• Focus remains on operational efficiency, capital release, and leveraging a strong asset base.

Trading performance and revenue trends

• Housing sales in Central Eastern Europe and the Baltics are on a positive trajectory, with strong pre-marketing reservations.

• Finnish housing market shows gradual improvement in consumer sales and reservations, though overall market remains subdued.

• Infrastructure and business premises segments report active tendering and multiple large projects in the pipeline.

Profitability and margins

• Infrastructure segment achieved over 6% adjusted operating profit in Q2, with a rolling 12-month EBIT margin above 4%, driven by Finnish operations.

• Business premises segment targets a 4% EBIT margin, with potential to exceed this level as operational performance improves.

• No major one-offs impacted Q2 infra profitability.