YIT reported a net loss of 34 million euros for the first quarter, with management attributing the negative result mainly to fair value movements on non-strategic properties and to costs incurred as part of ongoing restructuring activities.
Group revenue for the quarter was 399 million euros, a slight increase compared with the same quarter in the prior year. Despite the revenue uptick, adjusted operating profit declined year-on-year to 12 million euros, equating to an adjusted EBIT margin of 2.90%. Reported operating profit for the period was negative 18 million euros.
The company identified specific fair value reductions at Tripla Mall Ky and OP Vuokrakoti Ky as material contributors to the net loss, alongside the direct impact of restructuring costs. Management said it has put in place targeted measures intended to reduce the company's indebtedness, naming debt repayment and the release of capital from non-strategic assets as actions taken to strengthen the balance sheet.
Revenue growth during the quarter was led by the Residential CEE, Building Construction and Infrastructure segments. By contrast, the Residential Finland segment experienced a decline in revenue during the same period.
Looking ahead, YIT reiterated guidance for 2026, expecting Group adjusted operating profit for continuing operations to be in the range of 70 million to 100 million euros. The company expects the Baltic and CEE residential markets to remain favorable through 2026, but does not anticipate an increase in Finnish primary apartment sales volumes this year.
Operational context - The items that most affected first-quarter profitability were non-cash fair value changes tied to non-strategic assets and the one-off and transitional costs associated with restructuring. Management is pursuing balance-sheet actions aimed at debt reduction and capital release, while top-line performance showed mixed dynamics across regions and business lines.
Financial outlook - The 2026 guidance range for adjusted operating profit on continuing operations was confirmed at 70-100 million euros, and the company flagged regional variability in market conditions, with Baltic and CEE residential markets seen as supportive but Finnish primary sales not expected to grow.