YIT (YIT) Pre-Silent call summary

Executive summary

• Housing market recovery in Central Eastern Europe (CEE) is expected to continue, while Finland remains weak through Q2 and Q3 2024.

• Apartment sales in CEE and Baltics have increased for five consecutive quarters, with over 70% of completions in these regions for 2024.

• Joint ventures with RSJ Investments in Lithuania, Latvia, and Slovakia aim to enhance capital efficiency.

• Finnish housing market shows positive signs in reservations and transactions, but overall activity remains low.

Trading performance and revenue trends

• CEE and Baltic housing sales remain strong, with startups more than doubling in Q1 compared to the previous quarter.

• Business premises segment saw improved operational performance and revenue, supported by a healthy order book.

• Infrastructure segment performance improved, aided by divestments and strong Finnish market activity.

Profitability and margins

• Underlying performance in business premises improved due to lower material costs and better project management.

• Negative margin deviations have decreased significantly year-over-year.