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  • Jaunumi
  • 4/30/2021

YIT’s Interim report January—March 2021

YIT’s Interim report January—March 2021

Group’s adjusted operating profit improved to EUR 21 million. Gearing at target level.

  • YIT’s adjusted operating profit improved to EUR 21 million (8).
  • Solid performance in the housing segments continued.
  • Result stabilised in the Business premises segment.
  • Operating cash flow after investments was strong at EUR 70 million (-48) supported by strong apartment sales and decreased capital employed in Housing Finland and CEE.
  • Net interest-bearing debt decreased to EUR 439 million (942) driven by hybrid bond issuance and strong cash flow.
  • Gearing was 44% (105) reaching the target level of <50%.
  • YIT took significant steps towards its climate and sustainability targets by launching a Green Finance Framework and converting a significant part of its funding to green instruments with the successful issue of three green bonds.
  • Strong residential sales led to a record-low number of unsold completed apartments.
  • Successful work with customers continued as YIT received the highest score for customer satisfaction in new residential construction in EPSI rating survey in Finland.
  • Markku Moilanen started as the President and CEO of YIT Corporation on 1 April 2021.

Nordic paving and mineral aggregates businesses sold on 1 April 2020, are reported as discontinued operations. Unless otherwise noted, the figures in brackets refer to the corresponding period in the previous year.

Stock exchange release: https://www.yitgroup.com/en/news-repository/stock-exchange-releases/yits-interim-report-januarymarch-2021

Full report and materials: https://www.yitgroup.com/en/investors/reports-and-releases