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.

• Focus on holistic change: operating model, structure, and upskilling in procurement, project management, and commercial excellence.

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

Trading performance and revenue trends

• Housing sales strong in Central Eastern Europe, especially in the Baltics, with business progressing according to plan.

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

• Infrastructure and business premises segments maintain positive trends, with strong order books and operational improvements.

Profitability and margins

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

• No major one-offs in Q2 infra results; profitability driven by Finnish operations.

• Business premises segment targets 4% EBIT margin, with potential to exceed this level.