YIT (YIT) Q1 2026 earnings summary

Executive summary

• Revenue increased to EUR 399 million from EUR 391 million year-over-year, with growth in Residential CEE, Building Construction, and Infrastructure, but a decline in Residential Finland.

• Residential CEE delivered strong profitability with an adjusted operating profit margin of 13.8% and became a key profit driver.

• Building Construction and Infra segments reported revenue growth and improved order books, with Building Construction's order book exceeding EUR 1 billion.

• Operating profit was impacted by one-off items, including fair value changes in Tripla Mall and OP Vuokrakoti Ky, and restructuring costs, totaling -€30 million.

• Operating cash flow after investments improved to EUR 19 million from EUR -10 million year-over-year.

Financial highlights

• Group revenue grew to EUR 399 million from EUR 391 million year-over-year; adjusted operating profit margin was 2.9% (down from 3.5%).

• Net interest-bearing debt decreased to EUR 588 million from EUR 689 million; gearing improved to 83% from 91%.

• Operating cash flow after investments was EUR 19 million (up from EUR -10 million year-over-year).

• Return on capital employed (ROCE, rolling 12 months) improved to 5.6% from 4.8%.

• YIT redeemed its EUR 46 million hybrid bond, reducing gearing by 11 percentage points.

Outlook and guidance

• Adjusted operating profit for 2026 is expected to be EUR 70–100 million.

• Residential CEE and Baltic markets expected to remain favorable; Finnish residential market recovery remains stagnant with no expected volume increase in 2026.

• Building Construction performance expected to improve; Infrastructure to remain stable.

• Positive gains from new operating model expected to reach EUR 7 million in 2026 and EUR 18 million by 2027.

• Macroeconomic and geopolitical risks could impact demand and asset values.