Economic|Interim reports
YIT’s full-year and fourth-quarter net sales fell.
Construction company In October-December, YIT’s adjusted operating profit decreased to EUR 45 million from EUR 56 million. Adjusted operating profit for the full year 2021, on the other hand, rose to EUR 114 million from EUR 85 million in the previous year.
Operating profit fell short of expectations, as, for example, according to an analyst consensus compiled by Inderes, adjusted operating profit was expected to rise to EUR 55 million.
The adjusted operating profit margin and profit before taxes also fell far short of market expectations.
The company’s adjusted operating profit margin in October – December was 2.1. Analysts expected the operating margin to be 4.8 at the same time. The company’s profit before taxes was EUR 13 million, while analysts expected it to be EUR 53 million.
Both full-year and fourth-quarter revenue fell. Last year’s turnover was just under EUR 2.9 billion and in October-December just over EUR 900 million.
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