Yit Oyj Unsp/Adr (YITYY) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hi everyone. Welcome to YIT's Half Year 2026 results webcast. My name is Essi Nikitin and I'm heading the investor relations at YIT. Together with me here are our CEO Heikki Vuorenmaa and Interim CFO Markus Pietikainen. We will first hear Heikki to go through the second quarter developments in the company. Following that, Markus will walk you through the latest financial development. Last but not least, Heikki will wrap up the presentation with a short update on our strategy progress. After the presentation, the participants will have an opportunity to ask questions from Heikki and Markus. But now, Without further ado, I will hand over the floor to Heikki. Thank you very much, Essi, and welcome to this second quarter 26 webcast also from my behalf. And let's start the webcast with some key highlights from the quarter. We made positive progress during the second quarter as our revenue and profitability continued to improve. The residential operation in CEE continued strong. Revenue increased by over 30%, and the project pipeline improved as we launched a new project worth of 160 million during the quarter. Infrastructure revenue increased by over 20% compared to last year, and the market continues favorable. Additionally, our focus to continuous improvement and efficiency gains progressed well. We recorded a total of 15 million euros worth of annual cost saving actions by end of Q2. And as we have discussed earlier, our target is to achieve 18 million total cost efficiency savings. When we look at our group level numbers, the revenue grew by 3.5% and stood at 472 million euros during the quarter. Our adjusted operating profit increased to 19 million and was 3.9% of the revenue. Maturity of the operating profit improvement came from the residential CEE segment. reporti...