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