YIT (YIT) Pre-Silent call summary

Executive summary

• Data center growth is expected to accelerate from 2027; the base case sees a credible path to EUR 1bn revenue in 2029.

• Revised 2029 group revenue growth target to at least 10% CAGR from 2024, up from at least 5%; adjusted operating profit margin and ROCE targets remain at 7% and 15%.

Trading performance and revenue trends

• Finnish data centers had just under 400 MW operating capacity in 2025; announced extensions exceed 5 GW by end-2029, with up to EUR 15bn additional construction opportunity.

• Three data center projects were announced in Q3: two for atNorth and one for XTX; ongoing-project market share was measured by capacity and megawatts.

• Contracting order books were described as strong; new projects included Lithuanian production facilities, Helsinki’s Jätkäsaari sports center and an Oulu rail yard.

• Residential CEE Q3 starts totaled 148 apartments worth EUR 23m; management attributed the lower count to project readiness and timing, not a change in growth plans.

• Residential CEE apartment sales rose over 30% YoY in Q2; two self-developed Finnish residential projects and one student housing project started in Q3.

Profitability and margins

• 2029 targets remain adjusted operating profit margin of at least 7% and return on capital employed of at least 15%; data center growth is expected to support profitability.

• FY EBIT guidance is EUR 70m–100m; outcome depends on Finnish residential conditions, CEE project completion timing and execution pace in contracting.