YIT

YIT’s Q1 results were well in line with expectations on an operative level, although one-offs clearly burdened EBIT. We upgrade our rating to ACCUMULATE (REDUCE) following the share price decline since our previous update.

YIT’s Q1 results corresponded to our expectations, with revenue of EUR 399m (Evli EUR 410m) and adj. operating profit of EUR 12m (Evli EUR 14m). Operating profit was affected by notable fair value changes of non-strategic items.