YIT (YIT) Q4 2025 earnings summary

Executive summary

• Achieved progress in adjusted operating profit margin, return on capital employed, and gearing, with strengthened financial position and improved financing terms; completed the first year of the 2025-2029 strategy and improved customer and employee NPS.

• Net debt reduced by EUR 120 million year-over-year, reflecting strong operational cash flow and capital efficiency initiatives.

• Industry investment pipeline in Finland materialized, especially in digital infrastructure, reinforcing leadership in data center construction.

• Q4 revenue and adjusted operating profit increased year-over-year, driven by completions in Residential CEE and strong Infrastructure performance.

• Apartment sales in the Baltic and CEE regions rose over 30%, while Finnish residential sales remained weak due to market stagnation.

Financial highlights

• Full-year 2025 revenue was EUR 1,757 million (down from 1,820); adjusted operating profit rose to EUR 54 million (3.1% margin, up from 1.7%).

• Q4 revenue increased to EUR 557 million (from 521); adjusted operating profit to EUR 25 million (from 13), margin 4.5%.

• Net debt at year-end was EUR 560 million (down from 680), gearing at 71% (down from 88%).

• Operating cash flow after investments was EUR 65 million for the year and EUR 111 million in Q4.

• Result for the period improved to EUR -24 million (from -112); no dividend proposed for 2025.

Outlook and guidance

• Adjusted operating profit for continuing operations expected at EUR 70–100 million in 2026.

• Residential CEE market to remain favorable; Finnish residential market to stay weak with limited completions.

• Infrastructure and building construction segments expected to see improved or stable operational performance.

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