Interim reports YIT will reduce its loss-making infrastructure business, and the Group’s result improved

YIT’s net sales improved to EUR 733 million, compared to EUR 700 million a year earlier.

Construction company YIT intends to reduce its infrastructure business, which was the only segment to make a loss in the second quarter.

YIT’s adjusted operating profit for April – June improved to EUR 30 million from five million a year ago. Net sales rose to EUR 733 million from 700 million a year earlier.

The group says it has performed well in the housing segments, but the CEO Markku Moilanen expressed dissatisfaction with the economic development of the infrastructure segment.

Infra’s result fell to a loss of EUR 12 million, compared to a profit of EUR 4 million a year earlier. In the future, the company intends to be more selective with regard to projects related to the segment.

“From now on, it is essential to focus on the core of our expertise, such as rock construction, foundation construction and rail projects, as well as bridges in urban environments and water and beach construction,” Moilanen said in a press release.

Housing Operating profit in Finland and Eastern and Central Europe more than doubled to EUR 41 million and increased to EUR 6 million in Russia. The company says it has significantly accelerated housing starts.

The result of the business premises was a million positive, when it was a loss of EUR 14 million last year.

“Business premises continued to improve. Last year, the segment’s profitability was burdened by certain financial statements, and the positive adjusted operating profit for the second quarter of this year is an indication that we are moving in the right direction,” Moilanen said.

Moilanen started in YIT’s management at the start of the last quarter, ie at the beginning of April.

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