Yit Oyj Unsp/Adr (YITYY) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hi, everyone. Welcome to YIT's third quarter 2025 results webcast. My name is Essi Nikitin and I'm heading the investor relations at YIT. The results will be presented to you by our CEO, Heikki Vuorenmaa, and CFO, Tuomas Mäkipeska. Without further ado, I will hand over to Heikki now to go through the latest developments in the company. Please go ahead, Heikki. Thank you very much, Essi, and welcome also from my behalf to the third quarter 25 webcast. In third quarter, we overall delivered solid performance in line with our expectations. The contracting segment's profitability continues to improve, and they were the main profit drivers during the third quarter. Our apartment sales and production keeps increasing in the residential segments. And CEE has taken the role as our primary market in terms of revenue, volume and profits. Order book for the contracting segments are developing well and broader demand environment remains healthy as we move into the fourth quarter. In fact, our next year order book is stronger than in the recent years. Our recently executed employee survey indicates strong commitment from the team towards our new strategy. And supported by the good operative progress, we revised our full year guidance. But let me share numbers and some key highlights from the quarter. The low amount of apartment completions in the residential business impacted our numbers on a group level as expected. The revenue declined to 402 million euros burdened by the residential segment volumes. Also, it impacted our adjusted operating profit, which was on the level of 12 million euros. What we are really pleased is that our contracting segments trend is improving all the time and the contribution to profitability is increasing. Infra revenues continues to increase during ...