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; customer and employee NPS also improved.

• Revenue decreased for the full year, but adjusted operating profit and margins increased, driven by operational improvements and lower adjusting items.

• Strategic focus on capital efficiency, with significant capital release and reduction in net debt by EUR 120 million.

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

• 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%).

• Operating profit improved by EUR 100 million year-over-year, with adjusting items of EUR 9 million in 2025.

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

• Net debt reduced by EUR 120 million year-over-year to EUR 560 million; gearing at 71% (down from 88%).

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

Outlook and guidance

• Guidance for 2026: adjusted operating profit for continuing operations expected between EUR 70 million and EUR 100 million.

• Residential CEE expected to benefit from favorable market, with 50% more completions anticipated in 2026; Finnish residential market to stay weak with limited completions.

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

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