Yit Oyj Unsp/Adr (YITYY) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hi, everyone. Welcome to YIT's second quarter 2025 results webcast. My name is Essi Nikitin and I'm heading the investor relations at YIT. Together with me today are our CEO Heikki Vuoremaa and CFO Tuomas Mäkipeska. But now, without further ado, I will hand over to Heikki to go through the latest developments in the company. Please go ahead, Heikki. Good morning all, and thank you, Essi, for opening the second quarter investor call. Second quarter was a positive quarter for YIT. Overall, we delivered solid performance amid company results were largely driven by contracting segments, as both residential segments had zero completions during the quarter. The Finnish residential market recovery continued. Mortgage drawdowns are up by 18% year on year in the first five months. And we are launching new projects with good reservation rates. Markets in Central Eastern Europe are, on the other hand, already in a full swing. Number of apartments under construction exceeded 3,000 units, which will support our coming year profits. Today we will highlight three main areas. I will start with the detailed performance of each segment and market conditions. Tuomas then will cover our financials and the strength of our balance sheet. And then I will close with a view on how we're actually progressing as we implement our strategy. Let's get going. And we start with our financials for the second quarter. Our second quarter group adjusted operating profit increased to 10 million euros. Revenue declined to 412 million, and our adjusted operating profit margin increased to 2.4%. As there were no completions in the residential segments, revenue and profit were muted accordingly. although both segments' operative performance was solid during the quarter. Contracting segments, infrastructure ...