Yit Oyj · OMXHEX:YIT
Yit Oyj — Q1 2025 Earnings Presentation
32 slides from Yit Oyj's earnings presentation, Apr 30, 2025
Slide 1: Q1/2025 Interim Report January – March 2025
Q1/2025 Interim Report January – March 2025 Heikki Vuorenmaa, President and CEO Tuomas Mäkipeska, CFO Ranta-Tampella, Tampere, Finland
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by, and the information contained herein (unless otherwise indicated) has been provided by YIT Corporation (the “Company”). By attending the meeting or event where this presentation is made, or by reading the presentation slides, you agree to be bound b
Slide 3: Adjusted operating profit increased in all segments
Adjusted operating profit increased in all segments Residential CEE apartment Residential OngoingFinland actionsprofitability to AllCash segments flowcontributed to improvements sales increased; the market improved supported by improved profitability, supported remains favorable improve capital byon
Slide 4: Financial performance in Q1
Financial performance in Q1 YIT Group, Q1/2025, EUR million • Improved sales mix and efficiency supported Residential Finland profitability improvement Adj. operating profit Revenue Adj. OP, % • Strong growth in revenue in Residential CEE • 8 (-14) 386 (412) 1.9 (-3.4) • Infrastructure continued its
Slide 5: Residential Finland: Improved sales mix and efficiency
Residential Finland: Improved sales mix and efficiency Revenue, Target: Adjusted operating profit, Capital employed, EUR million Increase market share EUR million EUR million Margin 118 target 705 695 698 106 650 645 99 103 5 >10% ROCE 626 target 522 81 >20% 431 427 390 -3.8% -1 -1.8% -4.7% -3.8% -6
Slide 6: Inventory of unsold completed apartments is declining
The inventory of unsold completed apartments is declining and is projected to return to normal levels by the end of 2025 Unsold completed apartments in Finland, Unsold completed apartments in Finland by region, units units 1,000 Apartments distributed across 55 projects 867 771 490 700 682 74 89 9 2
Slide 7: Consumer apartment starts and sales in Residential Finland
Consumer apartment starts and sales in Residential Finland Consumer apartments in Residential Finland, Consumer apartments in Residential Finland, quarterly, units rolling 12 months, units 1,200 174 154 160 1,000 135 126 800 108 600 83 400 200 0 0 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1/24 Q2/24 Q3/24 Q4/
Slide 8: Low amount of completions during 2025 will limit profit
Low amount of completions during 2025 will limit the Residential Finland segment’s capability to generate profit Consumer apartment completions in Residential Finland, units 1,336 • 74 apartments were completed during the first quarter 200 • No completions expected during Q2 or Q3/25 520 274 • Next
Slide 9: Residential CEE: Growth story continued
Residential CEE: Growth story continued Revenue, Target: >15% growth Adjusted operating profit, Capital employed, EUR million (CAGR from 2024 baseline) EUR million EUR million 127 ROCE 329 25 target 312 304 >25% 362 377 366 262 258 343 Margin 309 82 76 target >15% 11.8% 11.2% 13.4% 14.2% 10.7% 10.1%
Slide 10: Consumer apartment starts and sales in Residential CEE
Consumer apartment starts and sales in Residential CEE Consumer apartments in Residential CEE, Consumer apartments in Residential CEE, quarterly, units rolling 12 months, units 546 1,400 478 1,200 1,000 335 800 300 237 251 600 198 186 400 200 57 62 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1/24 Q2/24 Q3/24 Q4/2
Slide 11: Majority of the completions in Residential CEE in 2025 will take place in Q4
Majority of the completions in Residential CEE in 2025 will take place in Q4 Consumer apartment completions in Residential CEE, units • 278 apartments were completed during the first quarter 1,266 1,028 750 • No completions expected 950 during Q2 or Q3/25 • Year 2025 will have the same strong season
Slide 12: Apartments sold by associated companies and joint ventures increased
Apartments sold by associated companies and joint ventures increased Apartments sold by associated Completions of apartments under construction in associated companies companies and joint ventures*, units and joint ventures, units Total of 105 (end of Q4/24: 88) unsold completed apartments in associ
Slide 13: Infrastructure: Revenue and adjusted operating profit increased
Infrastructure: Revenue and adjusted operating profit increased Revenue, Target: >5% growth Adjusted operating profit, Capital employed, EUR million (CAGR from 2024 baseline) EUR million EUR million 116 110 6 6 94 98 Margin 5 5 85 419 393 4.3% 4.3% 4.6% target Target: >6% Negative 414 396 399 3.4% 5
Slide 14: Infrastructure order book remained strong
Infrastructure order book remained strong Infrastructure order book, • Strong order book corresponding to EUR million approximately 24 months of work 880 • Public sector demand is expected to 803 808 805 836 773 remain at a relatively stable level, with 743 722 731 many investments currently in the
Slide 15: Building Construction: Profitability improved from the weak comparison period
Building Construction: Profitability improved from the weak comparison period Revenue, Target: >2% growth Adjusted operating profit, Capital employed, EUR million (CAGR from 2024 baseline) EUR million EUR million Margin 205 target 6 184 5 >6% 169 175 258 2 2 257 256 257 2.2% 245 125 852 853 0.4% 789
Slide 16: Building Construction order book increased
Building Construction order book increased Building Construction order book, • Order book corresponds to EUR million approximately 18 months of work 1,391 1,384 • Order book increased during Q1 despite 1,313 the highly competitive market 1,244 1,251 1,165 1,119 1,077 1,026 • Main orders booked for Q
Slide 17: Key operational metrics
Key operational metrics Apartments under construction for Project margin net deviations, Supply chain status, consumers and investors, units rolling 12 months availability 3,186 2,956 2,982 2,618 2,770 Steel structures 2,235 2,147 2,162 1,889 1,894 0 Concrete structures 53% 55% 49% 49% 50% Building
Slide 18: Market environment remained stable
Market environment Building remained stable; Residential market construction market Infrastructure market the primary apartment Finland market sales volumes Baltic countries Central Eastern Europe are expected to slightly increase during 2025 in Q1 market environment Short-term market outlook Good N
Slide 19: Stable financial performance in the first quarter
Stable financial performance in the first quarter Capital employed Operating cash flow amounted to after investments was EUR 1,393 million EUR -16 million (Q1/24: 1,591) (Q1/24: 1) Net debt at Gearing at EUR 689 million 91% (Q1/24: 768) (Q1/24: 89%) (Q4/24: 680) (Q4/24: 88%) 19 Picture: Rakennusteol
Slide 20: ROCE on a positive trend
ROCE on a positive trend supported by improved adjusted operating profit and capital efficiency across all businesses Capital employed, ROCE %, YIT Group, EUR million YIT Group, rolling 12 months 1,591 Target 1,546 1,542 >15% 1,401 1,393 3.6% 1.8% 1.4% 2.0% 2.1% Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q1/24 Q
Slide 21: Rolling 12 months operating cash flow after investments positive
Rolling 12 months operating cash flow after investments positive for the last five quarters Operating cash flow after investments, EUR million • Operating cash flow after investments was EUR -16 million 200 reflecting the typical seasonality of 114 the business 100 67 14 1 2 • 12 months rolling oper
Slide 22: Net interest-bearing debt decreased from the comparison period
Net interest-bearing debt decreased from the comparison period Net interest-bearing debt, EUR million • Net debt decreased to EUR 689 104% 105% 101% 97% 98% million (768) 94% 89% 88% 91% 865 869 837 795 788 789 • Gearing increased to 91% (89%) 768 680 689 • Adjusted net debt remained 536 543 520 516
Slide 23: Maturity structure of interest-bearing debt extended significantly
Maturity structure of interest-bearing debt extended significantly, balance sheet remains asset rich Assets and net debt breakdown, EUR million, at the end of Q1/25 Finland: 682 apts. Tripla valued CEE: 273 apts. at 185 million Assets 585 175 201 401 272 1,635 Owned plots Leased plots Production Com
Slide 24: YIT expects adjusted operating profit of EUR 20–60 million in 2025
• The residential market in the Baltic countries and Central Eastern Europe is expected to continue favorable, contributing positively to Residential CEE YIT expects its Group segment's capability to generate profit. Timing of the residential project completions may deviate from the original estimat
Slide 25: Solid start for the year in line with our plans
Solid start for the year in line with our plans Improved adjusted operating Ongoing Sales actions improvement to in capital Cash structure Maturity flow improvements of interest- profit across all businesses intensive improveresidential capital bearing on a debt goodwas significantly track, impacted
Slide 26: Progress towards the strategic targets
Progress towards the strategic targets Revenue, Adjusted operating profit margin %, ROCE %, EUR million rolling 12 months rolling 12 months 521 26 1,591 453 1,546 1,542 434 412 3.0% 386 13 1,401 1,393 2,120 1.4% 1.7% 1.7% 8 1,996 7 1,896 1,820 1,794 1.1% 3.6% 1.8% 2.0% 2.1% 1.4% -14 Q1/24 Q2/24 Q3/2
Slide 27: Strategy execution highlight from Q1/2025
Strategy execution highlight from Q1/2025 Strategic priorities Expansion towards wider coverage of the Czech Republic residential market Deliver industry-leading productivity and financial • YIT announced on March 3 that it has launched its first residential performance project in the city of Kladno
Slide 28: Additional information
Additional information YIT Investor Relations investorrelations@yit.fi Essi Nikitin Arttu Hakala-Ranta VP, Investor Relations Investor Relations Manager +358 50 581 1455 +358 40 076 1775 essi.nikitin@yit.fi arttu.hakala-ranta@yit.fi YIT’s Half-Year Financial Report Q2/2025 will be published on Frida
Slide 29: Appendices
Appendices I. Key figures II. Apartment sales 29
Slide 30: I. Key figures
I. Key figures EUR million 1–3/25 1–3/24 1–12/24 Revenue 386 412 1,820 Operating profit 6 -8 -55 Operating profit, % 1.5 -2.0 -3.0 Adjusted operating profit 8 -14 32 Adjusted operating profit margin, % 1.9 -3.4 1.7 Result before taxes -8 -22 -118 Result for the period -9 -16 -112 Earnings per share,
Slide 31: II. Apartment sales
II. Apartment sales Sold apartment units, Residential Finland Sold apartment units, Residential CEE 1,131 583 1,007 932 955 951 946 427 267 390 588 565 683 657 653 654 623 665 263 422 353 438 500 523 100 580 479 480 440 449 548 565 523 523 420 294 209 195 372 374 420 310 335 324 321 275 85 256 235 3
Slide 32: Together we can do it.
Together we can do it.