YIT OyjOMXHEX: YIT

Interim Report Q3/26

· Issued by YIT Oyj

Summary by 6ix AI

YIT Corporation, a construction and residential developer, reported third-quarter 2026 revenue up 14% at EUR 530 million, from EUR 466 million a year earlier. Operating profit fell to EUR 9 million from EUR 25 million, mainly due to a EUR 19 million decrease in the fair value of its stake in Tripla Mall Ky, a partly owned shopping center, reflecting a higher required yield and a profit-sharing agreement.

Key details

  • Adjusted operating profit, which excludes adjusting items such as the Tripla fair-value change, rose to EUR 30 million from EUR 24 million. The result for the quarter was EUR -6 million, against EUR 2 million a year earlier. These figures use YIT's segment reporting.
  • YIT now expects Group adjusted operating profit for continuing operations, on a segment-reporting basis, of EUR 80-90 million in 2026, narrowed from EUR 70-100 million, citing stable financial performance of the businesses in the first nine months.
  • For January-September 2026, revenue rose 7% to EUR 1,400 million from EUR 1,313 million, adjusted operating profit was EUR 60 million against EUR 52 million, and the result for the period was EUR -51 million against EUR -5 million a year earlier.
  • Order book, the value of unfinished contracted work plus unsold self-developed projects, was EUR 3,448 million at the end of September 2026 against EUR 2,929 million a year earlier, under international accounting standards (IFRS). Building Construction's was EUR 1,352 million and Infrastructure's EUR 1,115 million.
  • Net interest-bearing debt was EUR 604 million against EUR 669 million a year earlier, and gearing, net debt relative to equity, was 90% against 85%. Operating cash flow after investments was EUR 19 million in the quarter, against EUR 0 million.

What’s still pending

  • The 2026 adjusted operating profit range is a company expectation, not a final result.
  • YIT says changes in the macroeconomic or global political environment may affect residential demand and the fair value of investments.

6ix AI wrote this summary from the release below and checked it against the release.

‌Q3

YIT Corporation

Interim Report 1-9/2026

‌Table of contents

Interim Report January-September 2026 3

Comments from the President and CEO, Heikki Vuorenmaa 5

Guidance and outlook for 2026 6

Market environment 7

Strategy 8

Results 10

Cash flow 11

Financial position 12

Residential Finland 13

Residential CEE 14

Building Construction 15

Infrastructure 16

Shares 17

Personnel 17

Governance 17

Significant risks and uncertainties 17

Interim Report January-September 2026: Tables 19

‌Interim Report January-September 2026‌ Revenue, profitability and order book increased in the third quarter Third quarter of 2026 in brief
  • Revenue increased 14% to EUR 530 million (466).

  • Adjusted operating profit increased to EUR 30 million (24). Adjusted operating profit margin increased to 5.7% (5.1).

  • Operating profit decreased to EUR 9 million (25). Operating profit was mainly impacted by a change in the fair value of Tripla Mall Ky amounting to EUR -19 million.

  • Operating cash flow after investments was EUR 19 million (0).

  • In Residential Finland, adjusted operating profit decreased to EUR -3 million (0). Consumer apartment sales decreased to 116 (152) apartments. Consumer apartment starts in the quarter decreased to 43 (224). The number of unsold completed apartments decreased to 365 (30 Jun 2026: 373).

  • In Residential CEE, adjusted operating profit increased to EUR 15 million (14). During the quarter, 406 (472) apartments were sold and 148 (390) started. The number of unsold completed apartments decreased to 146 (30 Jun 2026: 179).

  • In Building Construction, adjusted operating profit increased to EUR 11 million (6). Order book increased to EUR 1,352 million (30 Jun 2026: 1,026).

  • In Infrastructure, adjusted operating profit increased to EUR 10 million (7). Order book increased to EUR 1,115 million (30 Jun 2026: 901).

  • Result for the period was EUR -6 million (2).

  • Net interest-bearing debt amounted to EUR 604 million (669), and gearing was 90% (85) at the end of the period.

  • YIT's combined lost time injury frequency was 7.8 (9.6) in the third quarter of 2026.

  • YIT narrows the range for the adjusted operating profit guidance for year 2026 as a result of stable financial performance of the businesses during the first nine months of the year. According to the revised guidance, YIT expects its Group adjusted operating profit for continuing operations to be EUR 80-90 million in 2026. Previously, YIT expected its Group adjusted operating profit for continuing operations to be EUR 70-100 million in 2026.

    ‌January-September 2026 in brief
  • Revenue increased 7% to EUR 1,400 million (1,313).

  • Adjusted operating profit increased to EUR 60 million (52). Adjusted operating profit margin increased to 4.3% (3.9).

  • Operating profit decreased to EUR 4 million (50), mainly impacted by changes in the fair values of Tripla Mall Ky amounting to EUR -39 million and OP Vuokrakoti Ky amounting to EUR -9 million.

  • Operating cash flow after investments was EUR 26 million (-38).

  • In Residential Finland, adjusted operating profit decreased to EUR -12 million (1). Consumer apartment sales decreased to 337 (393) apartments. Consumer apartment starts decreased to 107 (358).

  • In Residential CEE, adjusted operating profit increased to EUR 42 million (29). Year-to-date, 1,346 (1,441) apartments were sold and 1,221 (1,921) started.

  • In Building Construction, adjusted operating profit increased to EUR 21 million (11).

  • In Infrastructure, adjusted operating profit increased to EUR 18 million (15).

  • Result for the period was EUR -51 million (-5).

YIT announced on March 6, 2026, that it will adopt percentage of completion revenue recognition method in segment reporting. Unless otherwise noted, the figures in this report are based on segment reporting. YIT has different revenue recognition method for self-developed projects in its segment reporting compared to IFRS financial reporting. The difference in revenue recognition methods does not impact operating cash flow after investments or net interest-bearing debt. Order book, gearing ratio and equity ratio are presented based on IFRS accounting principles. Segment reporting figures are presented in tables with a gray background. Key figures according to IFRS reporting are presented in the table below. For more information on accounting principles, see Basis of preparation and accounting policies of the Interim Report.

Unless otherwise noted, the figures in brackets in this report refer to the corresponding period in the previous year.

‌Key figures

EUR million 7-9/26 7-9/25 1-9/26 1-9/25 1-12/25

Segment reporting

Revenue

530

466

1,400

1,313

1,803

Adjusted operating profit

30

24

60

52

58

Adjusted operating profit margin, %

5.7

5.1

4.3

3.9

3.2

Operating profit

9

25

4

50

54

Result for the period

-6

2

-51

-5

-17

Earnings per share, EUR

-0.03

0.00

-0.25

-0.05

-0.11

Return on capital employed, % (ROCE, rolling 12 months)

6.7

5.7

6.7

5.7

5.7

Combined lost time injury frequency (cLTIF, rolling 12 months)

7.8

9.6

7.8

9.6

9.6

Customer satisfaction rate (NPS)

55

56

55

56

61

Average number of employees, Group

3,992

4,076

4,052

EUR million

7-9/26

7-9/25

1-9/26

1-9/25

1-12/25

IFRS reporting

Revenue

533

402

1,333

1,200

1,757

Operating profit

12

9

-13

22

45

Result for the period

-4

-10

-65

-28

-24

Earnings per share, EUR

-0.03

-0.05

-0.31

-0.14

-0.14

Operating cash flow after investments

19

0

26

-38

73

Net interest-bearing debt

604

669

604

669

560

Gearing ratio, %

90

85

90

85

71

Equity ratio, %

34

37

34

37

38

Order book

3,448

2,929

3,448

2,929

2,915

‌Comments from the President and CEO, Heikki Vuorenmaa‌

Our growth in revenue, profitability and order book continued during the third quarter of 2026. Our Group revenue increased by 14% during the quarter, as both of our contracting segments delivered strong growth, and the Residential CEE segment maintained its positive momentum. This broad-based growth supported the improvement of YIT's profitability, resulting in a 26% increase in Group adjusted operating profit. Our order book for the contracting segments strengthened significantly, with new orders totaling more than EUR 900 million in the quarter.

While data center construction is our fastest-growing business, growth in the Infrastructure and Building Construction segments came from projects from multiple customer groups. Our operative efficiency continued to improve, supporting a positive profitability trend in the contracting segments, and the growing share of data center construction in our portfolio is expected to provide further support for profitability improvement from 2027 onwards.

We hosted a Capital Markets Update during the quarter to clarify how we are positioned to capitalize on the growth opportunities in the Finnish data center market. We have demonstrated our ability to deliver some of Finland's most advanced projects, and we continue to expand our capacity as the demand grows. Proven delivery capabilities, strong references and integrated execution enable YIT to capture Finland's data center growth and convert it into long-term profitable growth.

Our growth profile is expected to be dominated by data center construction in the coming years. We see a credible path to generating approximately EUR 1 billion in revenue from our data center business in 2029, provided that power availability develops as expected, customer investment activity continues, and projects progress under normal delivery conditions.

Driven by the strong growth in the data center market, we increased our growth targets set for the strategy period. Group financial target for annual revenue growth to be reached by the end of 2029 was doubled to 10%. In conjunction, we increased the annual growth targets for the Infrastructure and Building Construction segments to 15% and 6% respectively.

The Residential CEE segment continued to deliver strong profitability, at 14.3% year-to-date. New residential project starts were moderate during the third quarter, with most project launches in 2026 expected to take place in the final quarter of the year. In this favorable market, the segment's growth potential is more dependent on our ability to allocate capital to the segment over medium-term.

In the Residential Finland segment, we have developed and launched three new customer-centric residential concepts during the year: Formia, Olo and Fiksu. All three concepts are now on the market, and the first projects developed under these concepts have received a positive response from our customers. The cost savings measures implemented as part of the operating model change are already partially reflected in the segment's performance, although low volumes continue to weigh on profitability. We remain committed to restoring the business to profitability, irrespective of market conditions.

Several indicators point to an improving outlook for the Finnish economy. Growth is broad-based, and employment is expected to strengthen. As noted by the Confederation of Finnish Construction Industries RT in its autumn economic outlook, the economic recovery, combined with the decline in residential supply, is creating conditions for a rebound in residential construction in 2027. The market remains consumer-driven, and a broad-based recovery in the residential market remains still some way off.

Elevated interest rates remain a key concern for the real estate sector. This was reflected in the valuation of our partly owned Tripla shopping center, as the applied yield requirement increased. Higher interest rates may also continue to delay the recovery of the residential market, particularly in the investor segment, despite the encouraging signals from other economic indicators related to the consumer market.

The megatrends underpinning our strategy continue to strengthen, reinforcing our positive long-term outlook. Beyond data centers, we see further growth opportunities across our businesses arising from urbanization, the energy transition, and increased investments in infrastructure and defense. YIT has the capabilities, market position and customer relationships to capture these opportunities and translate them into long-term growth.

Our systematic and determined focus on safety has delivered a significant improvement in work safety performance. Achieving meaningful progress requires strong engagement from all parties. Our goal is clear: There should not be any accidents on YIT's worksites. To measure the development, we set a reduction target to halve the cLTIF metric during the strategy period. To achieve this, we need to sustain a collective focus on safety across our supply chain.

Heikki Vuorenmaa President and CEO

‌Guidance and outlook for 2026‌

YIT narrows the range for the adjusted operating profit guidance for year 2026 as a result of stable financial performance of the businesses during the first nine months of the year.

Revised guidance for 2026

YIT expects its Group adjusted operating profit* for continuing operations to be EUR 80-90 million in 2026.

Previous guidance for 2026, issued on February 6, 2026

YIT expects its Group adjusted operating profit* for continuing operations to be EUR 70-100 million in 2026.

Outlook for 2026

The residential market in the Baltic countries and Central Eastern Europe is expected to continue favorable, contributing positively to Residential CEE segment's capability to generate profit.

In Finland, the primary apartment market sales volumes are not expected to increase in 2026. In Building Construction, the operational performance is expected to improve.

In Infrastructure, the operational performance is expected to remain stable.

Changes in the macroeconomic or global political environment may impact the residential market demand and the fair value of investments. The escalation of geopolitical risks reflected in general uncertainty and demand could have a negative impact on the company's financial performance.

*Adjusted operating profit is based on segment reporting.

‌Market environment‌ Residential market, Finland

The primary apartment market sales volumes are not expected to increase in 2026. An economic recovery, combined with the decline in residential supply, is creating conditions for a rebound in residential construction in 2027. The market remains consumer-driven, and a broad-based recovery in the residential market remains still some way off.

In the investor market, transaction volumes have shown early signs of picking up, but the overall level of activity remains low and the timing of a recovery remains uncertain. Higher interest rates may continue to delay the recovery of the residential market, particularly in the investor market, despite the encouraging signals from other economic indicators related to the consumer market.

Residential market, CEE

Residential markets across the CEE and Baltic regions remained broadly resilient during the third quarter, supported by strong long-term residential fundamentals and structural residential undersupply. While geopolitical tensions in the Middle East have increased inflationary risks and contributed to a more cautious interest rate environment, residential demand has remained stable across YIT's operating markets. Overall, residential market conditions continued to normalize. Poland and Czechia remain key markets in the region. In the Baltics, positive sentiment continued in Latvia, while Estonia showed early signs of improvement.

Building construction market

Building construction starts in Finland have started to increase, as a result of the increased volumes in the data center market. Building permits continued to increase, with data centers being the most significant driver. In other private sector, limited availability of financing and global uncertainty continue to delay investment decisions and, consequently, project starts. Public sector investments remain stable, and new delivery models such as lease-based models have become more common in public procurement. Due to the overall low volume, the competitive environment in the market remains intense. Transaction volumes in the real estate market are also being weighed down by constrained financing availability, high yield requirements, and a shift of investments towards other asset classes.

In the Baltic and Central Eastern European countries, overall demand and market activity remained stable, especially supported by private sector demand for new industrial premises and defense sector investments in certain countries. In the Baltic countries, new project starts are facing challenges due to yield requirements.

Infrastructure market

The overall outlook in the Finnish infrastructure market remains positive. Private sector outlook remains strong driven by exceptionally high level of investments focusing on data centers. In addition, investments in renewable energy supply and energy storage are expected to increase, and there are numerous clean transition projects in the planning phase. Public sector demand for traffic infrastructure construction is expected to remain stable with robust pipeline of projects expected to proceed to construction phase. Increasing investments in security of supply and defense are expected to support the market outlook going forward.

Residential market

Building construction

market

Infrastructure market

Finland

Baltic countries

Central Eastern Europe

Q3 market environment Short-term market outlook, next 12 months

Good Normal Weak Improving Stable Weakening

‌Strategy‌

YIT's strategic priorities for the strategy period 2025-2029 are:

  • to deliver industry-leading productivity and financial performance

  • to generate targeted growth and resilience, and

  • to elevate customer and employee experience.

    Industry-leading productivity and financial performance will be delivered by focusing on solid project and cost management, construction lead-time reductions on projects, dynamic pricing models for consumers and developing YIT towards a more data, technology and process-led organization. Moreover, significant benefits are expected to be materialized from the efficiency actions implemented or initiated as a part of the transformation program completed in 2024 and the renewal of the operating model in Residential Finland and Building Construction segments, announced in February 2026.

    YIT aims to generate targeted growth and resilience from its current business portfolio by targeting a more balanced geographical revenue distribution and focusing on businesses providing the greatest potential for profitable, capital-efficient growth.

    To elevate customer and employee experience, YIT aims to build strong differentiation through delivering projects with industry-leading total customer value. In addition, to complement the strategic priority to become more data, technology and process-led organization, YIT will focus on fostering its company culture, strategic capabilities and attracting the best talent. Moreover, the company is aiming to take a step change in work safety to demonstrate YIT's uncompromising commitment to continuous improvement in this focus area.

    Group financial targets

    YIT will assess the success of its strategy with the following group financial targets to be reached by the end of 2029.

  • Adjusted operating profit margin at least 7%

  • Return on capital employed at least 15%

  • Net sales growth of at least 10%, with the compound annual growth rate (CAGR) based on year 2024 (updated on September 24, 2026, previously 5%).

    In addition, YIT has a financial framework and non-financial targets for the strategy period. Financial framework:

  • Dividend payout ratio at least 50%, subject to fulfillment of certain conditions in current financial agreements

  • Net debt to equity (gearing) in the range of 30-70% over the cycle.

    Non-financial targets:

  • Maintain high customer NPS level of over 50 across the operations

  • Employee NPS at least 50

  • Combined lost time injury frequency (cLTIF) below 5 in all operations

  • SBTi commitment implemented by 2030 (scope 1 & 2 CO2 -90% and scope 3 -30%).

The targets set for the strategy period include an assumption of the Finnish residential market recovering to a historical average level during the period. YIT's view of 2010-2020 average self-developed multi-family residential starts in Finland is approximately 16,000 apartments per year.

Segment financial targets

Targets to be achieved by the end of 2029 for the operating segments are:

Residential Finland: Target is to gain market share, achieve at least 10% adjusted operating profit margin, and at least 20% return on capital employed.

Residential CEE: Target is to achieve at least 15% annual growth, at least 15% adjusted operating profit margin, and at least 25% return on capital employed.

Building Construction: Target is to achieve at least 6% compound annual growth (updated on September 24, 2026, previously 4%), at least 6% adjusted operating profit margin and to continuously operate with negative capital employed.

Infrastructure: Target is to achieve at least 15% compound annual growth (updated on September 24, 2026, previously 10%), at least 6% adjusted operating profit margin and to continuously operate with negative capital employed.

Strategy implementation progress

Strategy implementation progress is monitored in detail quarterly for every segment.

The data center market in Finland is experiencing strong growth, as Finland is emerging as one of the most attractive locations for data center investments in Europe. YIT has systematically invested in its capabilities in this growing sector, built extensive expertise and references in delivering demanding data center projects, and established a position as Finland's leading data center builder. The announced and potential data center pipeline represents a significant growth opportunity for YIT during the 2025-2029 strategy period.

As a result, YIT announced on September 24, 2026, that it increases its Group financial target for revenue growth to be reached by the end of 2029 to at least 10%, with the compound annual growth rate (CAGR) based on year 2024. Previously, the corresponding target was a CAGR of at least 5%. The other Group financial targets of adjusted operating profit margin of at least 7% and return on capital employed of at least 15% by the end of 2029 remain unchanged.

In conjunction, YIT also increased the segment specific revenue growth targets for the Building Construction and Infrastructure segments for the strategy period. The new target for the Building Construction segment is to achieve annual growth of at least 6% and for the Infrastructure segment to achieve annual growth of at least 15% by 2029, with the compound annual growth rate (CAGR) based on year 2024. Previously, the Building Construction segment's corresponding target was a CAGR of at least 4% and Infrastructure segment's target a CAGR of at least 10%.

Safety development

YIT's strategy for 2025-2029 sets a target for a combined lost time injury frequency (cLTIF) of below 5 in all operations. YIT's combined lost time injury frequency was 7.8 (9.6) in the third quarter of 2026. YIT has worked systematically to increase the number of observations, and to promote low-threshold intervention, feedback and employee well-being enhancing the strategic importance of work safety.

‌Results‌ July-September

YIT's revenue increased 14% to EUR 530 million (466). Revenue increased in Residential CEE, Infrastructure and Building Construction and decreased in Residential Finland.

Adjusted operating profit for the quarter increased to EUR 30 million (24). Adjusted operating profit margin increased to 5.7% (5.1). Adjusted operating profit increased in Residential CEE, Building Construction and Infrastructure and decreased in Residential Finland.

YIT's operating profit decreased to EUR 9 million (25). Adjusting items amounted to EUR -21 million in the third quarter (1). Adjusting items were mainly related to a change in the fair value of Tripla Mall Ky amounting to EUR -19 million. The change related to Tripla Mall Ky reflects an increase in the yield requirement and a fair value impact of the profit-sharing agreement. Net finance costs amounted to EUR 11 million (14). The result for the period was EUR -6 million (2).

Revenue according to IFRS was EUR 533 million (402). Operating profit according to IFRS amounted to EUR 12 million (9). Result for the period according to IFRS was EUR -4 million (-10). The difference between IFRS and segment reporting is related to timing difference in revenue recognition methods.

‌January-September

YIT's revenue increased 7% to EUR 1,400 million (1,313). Revenue increased in Residential CEE, Infrastructure and Building Construction and decreased in Residential Finland.

YIT's adjusted operating profit increased to EUR 60 million (52) and the adjusted operating profit margin increased to 4.3% (3.9). Adjusted operating profit increased in Residential CEE, Building Construction and Infrastructure and decreased in Residential Finland.

YIT's operating profit decreased to EUR 4 million (50). Adjusting items amounted to EUR -56 million (-2). Adjusting items were mainly related to non-strategic items, including changes in the fair values of Tripla Mall Ky amounting to EUR -39 million and OP Vuokrakoti Ky amounting to EUR -9 million. Net finance costs amounted to EUR 41 million (41). The result for the period amounted to EUR -51 million (-5). Earnings per share was EUR -0.25 (-0.05).

Revenue according to IFRS was EUR 1,333 million (1,200). Operating profit according to IFRS amounted to EUR -13 million (22). Result for the period according to IFRS was EUR -65 million (-28). The difference between IFRS and segment reporting is related to timing difference in revenue recognition methods.

‌Revenue (EURm) Adjusted operating profit and adjusted operating profit margin

600

400

200

0

530

466

490

472

399

3Q25 4Q25 1Q26 2Q26 3Q26

40 8%

30

24

19

7

12

30 6%

20 4%

10 2%

0 0%

3Q25 4Q25 1Q26 2Q26 3Q26

Adj. OP (EURm) Adj. OPM (%),

rolling 12 months

Adjusted operating profit per segment (EURm)

40

30

20

10

0

-10

Residential Finland Residential CEE Building Construction Infra

Other

-20

3Q25 4Q25 1Q26 2Q26 3Q26

‌Cash flow‌ July-September

YIT's operating cash flow after investments amounted to EUR 19 million (0). Cash flow related to plot investments amounted to EUR -19 million (-9).

‌January-September

YIT's operating cash flow after investments amounted to EUR 26 million (-38). Cash flow related to plot investments amounted to EUR -33 million (-18).

‌Operating cash flow after investments (EURm)

200

111

19

19

0

150

100

50

0

-50

-12

3Q25 4Q25 1Q26 2Q26 3Q26

Operating cash flow after investments Operating cash flow after investments,

12 months rolling

‌Financial position‌

At the end of the period, interest-bearing debt amounted to EUR 770 million (827). Net interest-bearing debt amounted to EUR 604 million (669). Net interest-bearing debt included IFRS 16 lease liabilities of EUR 254 million (260), as well as housing company loans of EUR 118 million (138) related to unsold apartments. Gearing ratio was 90% (85). Equity ratio was 34% (37). Equity amounted to EUR 674 million (786).

Cash and cash equivalents amounted to EUR 113 million (71), and YIT had undrawn overdraft facilities amounting to EUR 13 million (13). YIT also had a EUR 200 million (243) committed revolving credit facility, of which EUR 135 million (198) was unused and available at the end of the third quarter. Unutilised and committed housing company loan limits associated with apartment projects amounted to EUR 37 million (39).

Operative capital employed amounted to EUR 1,004 million (1,042) at the end of the quarter (30 Jun 2026: 981). Return on capital employed (rolling 12 months), calculated using operative capital employed, increased to 6.7% (5.7).

Non-strategic items, which are not included in operative capital employed, decreased to EUR 257 million (30 Jun 2026: 298) at the end of the period. The decrease was mainly due to a decrease in the fair value of Tripla Mall Ky and a sale of an office building in Lithuania. The largest singular item included in the non-strategic items is YIT's equity investment in Tripla Mall Ky, which had a fair value of EUR 93 million (30 Jun 2026: 113) at the end of the period.

Investments in plots in the third quarter were EUR 22 million (9). Investments in leased plots, excluding sale and leaseback transactions, were EUR 0 million (0). In January-September, investments in plots were EUR 48 million (13) and investments in leased plots, excluding sale and leaseback transactions, were EUR 0 million (0). The total plot reserve at the end of the period amounted to EUR 719 million (725).

‌Net interest-bearing debt and gearing

669

560

588

618 604

1,000

800

100%

80%

Return on capital employed, (ROCE), %, rolling 12 months

15%

600

400

60%

40%

10%

200 20% 5%

0 0%

3Q25 4Q25 1Q26 2Q26 3Q26

0%

3Q25 4Q25 1Q26 2Q26 3Q26

Net interest-bearing

debt (EURm)

Gearing (%)

Distribution of interest-bearing debt (EURm)

1

254

299

Operative capital employed (EURm)

1,042

976

955

981 1,004

1,250

1,000

750

500

19 118

79

250

0

3Q25 4Q25 1Q26 2Q26 3Q26

IFRS 16 lease liabilities

Housing company loans related to unsold apts.

Loans from financial institutions Commercial papers

Bonds

Other interest-bearing debt

The reconciliation of capital employed is presented in Reconciliation, segment reporting; Reconciliation, Capital employed by segments on page 32.

‌Residential Finland‌

EUR million 7-9/26 7-9/25 1-9/26 1-9/25 1-12/25

Revenue

51

81

167

242

314

Adjusted operating profit

-3

0

-12

1

-9

Adj. operating profit margin, %

-5.2

-0.6

-7.0

0.6

-3.0

Operative capital employed

589

559

589

559

564

Return on capital employed, % (ROCE, rolling 12 months)

-3.9

-1.6

-3.9

-1.6

-1.6

July-September
  • Revenue decreased to EUR 51 million (81).

  • Adjusted operating profit decreased to EUR -3 million (0).

  • Consumer apartment sales decreased to 116 (152) apartments.

  • Consumer apartment starts decreased to 43 (224) apartments.

  • The number of unsold completed apartments decreased to 365 (30 Jun 2026: 373).

  • Operative capital employed at the end of the period amounted to EUR 589 million (559).

  • The land bank in Residential Finland amounted to 973,000 sqm (30 Jun 2026: 943,000). The land bank will enable the construction of approximately 15,000 new homes.

  • YIT announced on July 6, 2026, that YIT and Vaasa Student Housing Foundation had signed an agreement on construction of new student apartments in Vaasa, Finland. The total value of the contract for YIT is approximately EUR 15 million.

  • YIT announced on August 17, 2026, that it had started construction of Asunto Oy Joensuun Sahan Piha, a self-developed residential apartment building in Joensuu, Finland, representing the new YIT Olo concept. The value of the project is approximately EUR 7 million.

  • YIT announced on September 8, 2026, that it has started construction work on Asunto Oy Helsingin Heikas, a self-developed residential apartment building project in the Lauttasaari district of Helsinki, Finland, representing the new YIT Formia concept. The value of the project is approximately EUR 15 million.

    ‌January-September
  • Revenue decreased to EUR 167 million (242).

  • Adjusted operating profit decreased to EUR -12 million (1).

  • Consumer apartment sales decreased to 337 (393) apartments.

  • Consumer apartment starts decreased to 107 (358) apartments.

    ‌Revenue (EURm)

    Adjusted operating profit and adjusted operating profit margin

    100

    72

    64

    52

    51

    81

    50

    0

    15

    10

    5

    0

    -5

    -10

    -15

    0

    -3

    -3

    -6

    -11

    10%

    5%

    0%

    -5%

    -10%

    Adj. OP (EURm) Adj. OPM (%),

    rolling 12 months

    3Q25 4Q25 1Q26 2Q26 3Q26

    3Q25 4Q25 1Q26 2Q26 3Q26

    Return on capital employed, (ROCE), %, rolling 12 months

    20%

    15%

    10%

    5%

    0%

    Sold apartments (units)

    250

    200

    150

    100

    50

    Consumer apartments Investor apartments

    -5%

    3Q25 4Q25 1Q26 2Q26 3Q26

    0

    3Q25 4Q25 1Q26 2Q26 3Q26

    ‌Residential CEE‌

    EUR million 7-9/26 7-9/25 1-9/26 1-9/25 1-12/25

    Revenue

    115

    105

    293

    255

    355

    Adjusted operating profit

    15

    14

    42

    29

    39

    Adj. operating profit margin, %

    13.0

    13.8

    14.3

    11.2

    11.0

    Operative capital employed

    347

    324

    347

    324

    329

    Return on capital employed, % (ROCE, rolling 12 months)

    15.8

    14.0

    15.8

    14.0

    11.8

    July-September
  • Revenue increased to EUR 115 million (105).

  • Adjusted operating profit increased to EUR 15 million (14).

  • During the quarter, 406 (472) apartments were sold.

  • Apartment starts decreased to 148 (390) apartments.

  • The number of unsold completed apartments decreased to 146 (30 Jun 2026: 179).

  • The share of results of associated companies and joint ventures was EUR 1 million (-1).

  • Operative capital employed amounted to EUR 347 million (324) at the end of the period.

  • The land bank in Residential CEE amounted to 879,000 sqm (30 Jun 2026: 915,000). The land bank will enable the construction of approximately 14,000 new homes.

  • During the third quarter of 2026, YIT launched the following projects in the Residential CEE segment, with a total value of over EUR 23 million:

    • Matau Kauna 5, Kaunas, Lithuania: fifth house of an extensive area development project with 40 apartments

    • Nurme 2 and 4, Tallinn, Estonia: second and final stage of Nurme project with 36 apartments

    • Kaivas kvartāls 3, Riga, Latvia: third stage of a five-stage area project with 72 apartments

      ‌January-September
  • Revenue increased to EUR 293 million (255).

  • Adjusted operating profit increased to EUR 42 million (29).

  • Year-to-date, 1,346 (1,441) apartments were sold and 1,221 (1,921) started.

  • The share of results of associated companies and joint ventures was EUR 3 million (0).

    ‌Revenue (EURm) Adjusted operating profit and adjusted operating profit margin

    150

    105

    100

    90

    87

    100

    50

    115

    20

    13

    10

    15 14

    10

    5

    14 15

    20%

    15%

    10%

    5%

    Adj. OP (EURm) Adj. OPM (%),

    rolling 12 months

    0

    3Q25 4Q25 1Q26 2Q26 3Q26

    0 0%

    3Q25 4Q25 1Q26 2Q26 3Q26

    Return on capital employed, (ROCE), %, rolling 12 months

    25%

    20%

    15%

    10%

    5%

    Sold apartments (units)

    800

    600

    400

    200

    0%

    3Q25 4Q25 1Q26 2Q26 3Q26

    0

    3Q25 4Q25 1Q26 2Q26 3Q26

    ‌Building Construction‌

    EUR million 7-9/26 7-9/25 1-9/26 1-9/25 1-12/25

    Revenue

    217

    161

    543

    473

    649

    Adjusted operating profit

    11

    6

    21

    11

    13

    Adj. operating profit margin, %

    5.2

    3.5

    3.8

    2.4

    2.0

    Operative capital employed

    -78

    -35

    -78

    -35

    -64

    Order book 1,352 954 1,352 954 978

    July-September
  • Revenue increased to EUR 217 million (161).

  • Adjusted operating profit increased to EUR 11 million (6).

  • Operative capital employed at the end of the period was EUR -78 million (-35).

  • Order book increased to EUR 1,352 million (30 Jun 2026: 1,026). At the end of the quarter, order book included EUR 316 million (30 Jun 2026: 324) of service periods for life cycle projects.

  • YIT announced on July 27, 2026, that YIT had signed an agreement with UAB Lithuania Defense Services for the construction of a production and maintenance plant in Kaunas, Lithuania. The total value of the project is approximately EUR 30 million, and it is recorded in the order book of the third quarter of 2026.

  • YIT announced on August 11, 2026, that YIT had signed a contract with Light Conversion, for the development and construction of a new manufacturing facility in Vilnius, Lithuania. Value of the contract was not disclosed.

  • YIT announced on September 2, 2026, that YIT and the City of Helsinki had signed an agreement for the implementation phase of the Jätkäsaari swimming and sports center. The value of the contract was specified during the development phase at approximately EUR 94 million, which is recorded in the order book of the third quarter of 2026.

  • YIT announced on September 30, 2026, that YIT and the municipality of Tuusula, Finland, had signed an agreement on the construction of a school, daycare center, and youth center using a life cycle model. The total value of the contract for YIT is EUR 70 million and it will be recorded in the order book once the project's building permit has gained legal force.

  • All YIT's data center projects are listed under Infrastructure in this report, but benefit both Infrastructure and Building Construction segments, with a 50%-50% split.

    ‌January-September
  • Revenue increased to EUR 543 million (473).

  • Adjusted operating profit increased to EUR 21 million (11).

    ‌Order book (EURm)

    1,500

    954

    978

    1,016 1,026

    1,250

    1,000

    750

    500

    250

    1,352

    Revenue (EURm)

    250

    175

    186

    161

    140

    200

    150

    100

    50

    217

    0

    3Q25 4Q25 1Q26 2Q26 3Q26

    0

    3Q25 4Q25 1Q26 2Q26 3Q26

    Adjusted operating profit and adjusted operating profit margin

    Operative capital employed (EURm)

    50

    12 11 6%

    7

    6

    3

    2

    10

    8 4% 0

    6

    4

    2% -50

    -35

    2

    0 0%

    -100

    -64

    -78 -78 -78

    3Q25 4Q25 1Q26 2Q26 3Q26 3Q25 4Q25 1Q26 2Q26 3Q26

    Adj. OP (EURm)

    Adj. OPM (%), rolling 12 months

    ‌Infrastructure‌

    EUR million 7-9/26 7-9/25 1-9/26 1-9/25 1-12/25

    Revenue

    157

    127

    426

    365

    517

    Adjusted operating profit

    10

    7

    18

    15

    22

    Adj. operating profit margin, %

    6.1

    5.9

    4.1

    4.2

    4.3

    Operative capital employed

    -95

    -58

    -95

    -58

    -85

    Order book 1,115 759 1,115 759 875

    Operating profits from the businesses to be closed down in Sweden and Norway are recorded in adjusting items and not presented in adjusted operating profit.

    July-September
  • Revenue increased to EUR 157 million (127).

    • Revenue in Finland increased to EUR 149 million (117).

    • Revenue in businesses to be closed down decreased to EUR 8 million (10).

  • Adjusted operating profit increased to EUR 10 million (7)

  • Operative capital employed at the end of the period was EUR -95 million (-58).

  • Order book increased to EUR 1,115 million (30 Jun 2026: 901).

  • YIT announced on July 21, 2026, that YIT and atNorth had agreed on the design and construction of a new data center in Kouvola, Finland. The data center is part of atNorth's FIN04 data center campus. The value of the project is approximately EUR 300 million, and it is recorded in YIT's order book for the third quarter of 2026.

  • YIT announced on August 26, 2026, that YIT had agreed with the Finnish Transport Infrastructure Agency on the implementation of the Oulu Passenger Rail Yard RU2 as an all-in contract with a fixed price. The total value of the contract for YIT is approximately EUR 30 million, and it is recorded in the order book for the third quarter of 2026.

  • YIT announced on August 28, 2026, that YIT and atNorth had agreed on the construction of a new facility in Kouvola, Finland. The data center is part of atNorth's FIN04 data center campus. Value of the contract was not disclosed.

  • YIT announced on September 25, 2026, that YIT and XTX Markets had signed an agreement for the interior finishing phase, building services engineering (MEP), and commissioning of the third data center in Kajaani. The agreement follows the successful completion of the shell and core phase for the facility. Value of the contract was not disclosed.

  • All YIT's data center projects benefit both Infrastructure and Building Construction segments, with a 50%-50% split.

    ‌January-September
  • Revenue increased to EUR 426 million (365).

    • Revenue in Finland increased to EUR 400 million (330).

    • Revenue in businesses to be closed down decreased to EUR 26 million (35).

  • Adjusted operating profit increased to EUR 18 million (15).

‌Order book (EURm)

875

922 901

759

1,200

1,000

800

1,115

Revenue (EURm)

200

152

127

114

150

154 157

600 100

400

50

200

0

3Q25 4Q25 1Q26 2Q26 3Q26

0

3Q25 4Q25 1Q26 2Q26 3Q26

Adjusted operating profit and adjusted operating profit margin Operative capital employed (EURm)

12 6% 50

10

7

7

6

2

10

8 4% 0

6

4 2%

2

0 0%

3Q25 4Q25 1Q26 2Q26 3Q26

-50

-100

-150

-58

-85 -77 -79

-95

Adj. OP (EURm)

Adj. OPM (%), rolling 12 months

3Q25 4Q25 1Q26 2Q26 3Q26

‌Shares‌

YIT Corporation's share capital and the number of shares remained unchanged during the third quarter of 2026.

At the end of the reporting period, YIT's share capital was EUR 149,716,748.22 (31 Dec 2025: 149,716,748.22), and the number of shares outstanding was 230,718,566 (31 Dec 2025: 230,646,061).

‌Personnel‌

During January-September, the Group employed an average of 3,992 people (4,076) in continuing operations. Personnel expenses in July-September totalled EUR 60 million (57) and in January-September EUR 198 million (185).

‌Governance‌ Changes in the YIT Leadership Team

YIT announced on March 17, 2026, that Erkka Repo had been appointed as CFO and a member of YIT's Leadership Team. Erkka Repo started in his position in August 2026.

Resolutions passed at the Annual General Meeting 2026

The Annual General Meeting of YIT Corporation held on March 19, 2026, adopted the 2025 financial statements and discharged the members of the Board of Directors and the President and CEO from liability. The Annual General Meeting approved the remuneration report for the company's governing bodies for the financial year 2025. The Annual General Meeting also resolved on the composition of the Board of Directors and their remuneration, as well as authorizing the Board of Directors to resolve on the repurchase of company shares and share issues.

The Annual General Meeting resolved, in accordance with the proposal of the Board of Directors, to not distribute dividend.

The Annual General Meeting resolved to elect a Chairperson, Vice Chairperson and four (4) ordinary members to the Board of Directors for a term of office ending at the conclusion of the next Annual General Meeting following their election, namely: Jyri Luomakoski re-elected as the Chairperson, Casimir Lindholm re-elected as the Vice Chairperson and Anders Dahlblom, Sami Laine, Kerttu Tuomas and Leena Vainiomäki re-elected as members.

The stock exchange releases on the resolutions of the Annual General Meeting and on the organizational meeting of the Board of Directors were published on March 19, 2026. The stock exchange releases and introductions of the members of the Board of Directors are available at YIT's website.

‌Significant risks and uncertainties‌

The goal of YIT's risk management is to ensure the achievement of the company's strategic and financial objectives and to safeguard business continuity under all circumstances. Risk management is an integral part of the Group's management and planning processes and is based on the risk management policy approved by the Board of Directors. The Board directs and oversees the planning and implementation of risk management and approves the company's risk appetite and tolerance. The President and CEO has overall responsibility for risk management. Risks are identified, assessed, and managed systematically at both Group and segment levels. YIT classifies significant risks related to its operations into strategic, operational, project, financial, and event risks.

YIT's business is project-based, which makes uncertainty related to project portfolios and individual projects a key focus of risk management.

Detailed descriptions of risks, their impacts and risk management practices are available in the Report of the Board of Directors for 2025, published on February 6, 2026.

‌YIT Corporation Board of Directors

Helsinki, October 30, 2026

‌Interim Report January-September 2026: Tables‌

Table of contents

Primary Financial Statements

Consolidated income statement, IFRS 20

Consolidated statement of comprehensive income, IFRS 21

Consolidated statement of financial position, IFRS 22

Consolidated cash flow statement, IFRS 23

Consolidated statement of changes in equity, IFRS 24

Basis of preparation and accounting policies of the Interim Report 26

Basis of preparation 26

Accounting policies 26

Most relevant currency exchange rates used in the Interim Report 26

Notes 28

Adjustments concerning prior periods 28

Segment information 29

Inventories, IFRS 32

Derivative contracts, IFRS 32

Contingent liabilities and assets, IFRS 33

IFRS Accounting Standards, interpretations and amendments not yet effective 34

Additional information 35

Reconciliation of certain key figures 35

Definitions of financial key performance indicators 36

‌Primary Financial Statements‌

Consolidated income statement, IFRS

EUR million

7-9/26

7-9/25

1-9/26

1-9/25

1-12/25

Revenue

533

402

1,333

1,200

1,757

Other operating income

1

-

5

6

7

Change in inventories of finished goods and in work in progress

-49

9

5

23

-39

Materials and supplies

-73

-60

-220

-231

-301

External services

-273

-254

-777

-712

-992

Personnel expenses

-60

-57

-198

-185

-254

Other operating expenses

-46

-28

-102

-72

-122

Changes in fair value of financial assets

-19

3

-47

7

8

Share of results of associated companies and joint ventures

2

-

2

-

-2

Depreciation, amortization and impairment

-5

-5

-13

-14

-19

Operating profit

12

9

-13

22

45

Finance Income

3

2

5

5

7

Exchange rate differences (net)

-

-

-

-1

-2

Finance expenses

-14

-15

-46

-45

-60

Finance income and expenses, total

-11

-14

-41

-41

-55

Result before taxes

0

-4

-53

-19

-10

Income taxes

-4

-5

-11

-9

-14

Result for the period

-4

-10

-65

-28

-24

Attributable to

Owners of YIT Corporation

-4

-10

-65

-28

-24

Earnings per share, attributable to the equity holders of the parent company, EUR

Basic, total

-0.03

-0.05

-0.31

-0.14

-0.14

Diluted, total

-0.03

-0.05

-0.31

-0.14

-0.14

‌Consolidated statement of comprehensive income, IFRS‌

EUR million

7-9/26

7-9/25

1-9/26

1-9/25

1-12/25

Result for the period -4

-10

-65

-28

-24

Items that may be reclassified to income statement

Cash flow hedges, net of tax 4

1

6

-

1

Change in translation differences -2

-

-4

2

4

Items that may be reclassified to income statement, total 2

1

1

2

5

Items that will not be reclassified to income statement

Change in fair value of defined benefit pension, net of tax -

-

-

-

-

Change in fair value of financial assets measured through other comprehensive income, net of tax

-

-

-

Items that will not be reclassified to income statement,

total -

-

-

-

-

Other comprehensive income, total 2

2

1

3

5

Total comprehensive income -2

-8

-63

-25

-19

Attributable to

Owners of YIT Corporation -2

-8

-63

-25

-19

‌Consolidated statement of financial position, IFRS‌

EUR million

9/26

9/25

12/25

ASSETS

Non-current assets

Property, plant and equipment

16

18

18

Leased property, plant and equipment

41

35

38

Goodwill

248

248

248

Other intangible assets

1

2

1

Investments in associated companies and joint ventures

62

52

52

Equity investments

105

218

167

Interest-bearing receivables

47

49

49

Trade and other receivables

37

39

34

Deferred tax assets

55

56

54

Non-current assets total

613

715

661

Current assets

Inventories

1,121

1,172

1,100

Leased inventories

205

212

208

Trade and other receivables

216

173

168

Interest-bearing receivables

5

38

38

Income tax receivables

7

5

5

Cash and cash equivalents

113

71

116

Current assets total

1,668

1,671

1,635

Total assets

2,280

2,386

2,296

EQUITY AND LIABILITIES

Equity attributable to owners of the parent company

576

641

647

Hybrid bond

98

144

144

Equity total

674

786

792

Non-current liabilities

Deferred tax liabilities

12

2

5

Pension obligations

1

1

1

Provisions

45

67

66

Interest-bearing liabilities

364

360

298

Lease liabilities

236

243

240

Contract liabilities, advances received

-

4

5

Trade and other payables

28

18

17

Non-current liabilities total

686

696

632

Current liabilities

Contract liabilities, advances received

277

233

192

Other contract liabilities

12

12

4

Trade and other payables

411

377

395

Income tax payables

3

-

-

Provisions

47

59

56

Interest-bearing liabilities

152

207

208

Lease liabilities

18

17

18

Current liabilities total

920

905

873

Liabilities total

1,606

1,600

1,505

Total equity and liabilities

2,280

2,386

2,296

‌Consolidated cash flow statement, IFRS‌

EUR million

7-9/26

7-9/25

1-9/26

1-9/25

1-12/25

Result for the period

-4

-10

-65

-28

-24

Reversal of accrual-based items

28

15

85

51

73

Change in trade and other receivables

-16

-6

-46

-4

8

Change in inventories

35

-21

-26

16

90

Change in current liabilities

-13

34

118

-23

-56

Change in working capital, total

7

7

45

-10

41

Cash flow of financial items

-12

-14

-41

-45

-60

Taxes paid (-)

2

-2

-3

-8

-9

Net cash generated from operating activities

21

-3

21

-39

21

Cash flow from investing activities

Sale of subsidiaries, net of cash

-

-

-

5

5

Investments in associated companies and joint ventures

-3

-

-5

-1

-2

Proceeds from sale of associated companies and joint ventures

-

1

1

2

2

Purchases of tangible assets

-2

-1

-3

-2

-3

Purchases of intangible assets

-

-

-

-

-

Proceeds from tangible and intangible assets

-

-

3

3

3

Proceeds from sale of investments

-

-

-

Purchases of other investments

-

-

-

-

-

Dividends received (from associated companies and joint ventures)

1

3

2

5

5

Return of capital from equity investments

1

2

14

2

54

Increase in interest-bearing receivables

-3

-8

-22

-24

-32

Decrease in interest-bearing receivables

2

5

16

12

21

Net cash used in investing activities

-2

3

6

2

52

Operating cash flow after investments

19

0

26

-38

73

Cash flow from financing activities

Proceeds from non-current interest-bearing liabilities

20

45

270

255

290

Repayments of non-current interest-bearing liabilities

-20

-25

-220

-256

-350

Proceeds from current interest-bearing liabilities

34

14

103

59

79

Repayments of current interest-bearing liabilities

-23

-46

-108

-111

-134

Payments of lease liabilities

-5

-5

-14

-14

-18

Proceeds from hybrid bond

100

100

Repayments of hybrid bond

-46

-54

-54

Hybrid bond interest and expenses

-11

-8

-8

Net cash used in financing activities

5

-17

-26

-29

-95

Net change in cash and cash equivalents

24

-17

1

-67

-22

Cash and cash equivalents at the beginning of the period

90

89

116

137

137

Foreign exchange differences

-1

-

-3

-

1

Cash and cash equivalents at the end of the period

113

71

113

71

116

792

-65

6

-4

-63

1

1

-46

-9

674

-46

-

98

144

647

-65

6

-4

-63

1

1

-

-9

576

-9

-162

-7

4

5

586

150

-65

1

1

-

-

6

-4

-4

6

-7 -89

-65

-2

9

150 586

Equity on 1 January 2026

Result for the period

Cash flow hedges, net of tax Translation differences

Comprehensive income for the period, total

Share-based incentive schemes

Transactions with owners, total

Repayments of hybrid bond

Hybrid bond interests and expenses

Equity on 30 September 2026

EUR million

-25

1

1

100

-54

-7

786

100

-54

-1

144

-25

1

1

-

-

-5

641

-5

-92

-7

-2

7

586

150

-27

-

-

-

-

-

2

-

-

-

671 99 770

-28 -28

- -

2 2

2

-

-7 -60

-28

-2

5

586

150

Equity on 1 January 2025

Result for the period

Cash flow hedges, net of tax Translation differences

Change in fair value of financial assets measured through other comprehensive income, net of tax

Comprehensive income for the period, total

Share-based incentive schemes

Transactions with owners, total

Proceeds from hybrid bond Repayments of hybrid bond

Hybrid bond interests and expenses

Equity on 30 September 2025

EUR million

Share capital

Share capital

Unrestricted equity reserve

Unrestricted equity reserve

Translation differences

Translation differences

Fair value and other reserves

Fair value and other reserves

Treasury shares

Treasury shares

Retained earnings

Retained earnings

Equity attributable to owners of parent company

Equity attributable to owners of parent company

Hybrid bond

Hybrid bond

Equity total

Equity total

‌Consolidated statement of changes in equity, IFRS‌

-

-19

1

1

100

-54

-7

792

100

-54

-1

144

-

-19

1

1

-

-

-5

647

-5

-89

-7

-2

9

586

150

-24

1

1

-

-

-

1

4

671 99 770

-24 -24

1 1

- -

4 4

4

-

1

-7 -60

-24

-2

5

586

150

Equity on 1 January 2025

Result for the period

Cash flow hedges, net of tax

Change in fair value of defined benefit pension, net of tax Translation differences

Change in fair value of financial assets measured through other comprehensive income, net of tax

Comprehensive income for the period, total

Share-based incentive schemes

Transactions with owners, total Proceeds from hybrid bond Repayments of hybrid bond

Hybrid bond interests and expenses

Equity on 31 December 2025

EUR million

Share capital

Unrestricted equity reserve

Translation differences

Fair value and other reserves

Treasury shares

Retained earnings

Equity attributable to owners of parent company

Hybrid bond

Equity total

‌Basis of preparation and accounting policies of the Interim Report‌ Basis of preparation

This Interim Report has been prepared in accordance with IFRS Accounting Standards recognition and measurement principles, but not all the requirements of IAS 34 Interim Financial Reporting standard have been applied. This Interim Report should be read together with YIT's consolidated Financial Statements 2025. The figures presented in the Interim Report are unaudited. In the Interim Report, the figures are presented in million euros doing the rounding on each line, which may cause some rounding inaccuracies in columns and total sums.

Accounting policies

The same IFRS Accounting Standards recognition and measurement principles have been applied in the preparation of this Interim Report as in YIT's consolidated Financial Statements 2025, except for the amendments to the IFRS Accounting Standards effective as of January 1, 2026 and the change in segment reporting described in the following paragraphs. The IFRS Accounting Standard amendments had no impact on the consolidated financial statements.

Percentage of completion revenue recognition method in segment reporting

Starting from the first quarter of 2026, YIT reports self-developed projects using the new revenue recognition method in segment reporting. Going forward, revenue from sales of self-developed projects will be reported using the percentage of completion method, in contrast to the previously used method where revenue was reported upon project completion, when control is transferred to the customer.

Figures reported to the chief operating decision maker (CODM) are based on segment reporting. YIT's segment reporting aligns with IFRS accounting principles, except for revenue recognition in self-developed projects, where an over time revenue recognition method-also called the percentage of completion (POC) method-is applied. The difference between IFRS accounting principle and segment reporting primarily affects the segments involved in self-developed real estate construction.

Under IFRS 15 Revenue from Contracts with Customers, revenue from self-developed projects is recognized at a point in time, typically when the control of the asset is transferred to the customer, which usually occurs upon completion. For segment reporting, YIT applies over time revenue recognition for self-developed projects. This method recognizes revenue over time based on the project's progress and sales performance. Recognition is determined by two key factors:

  • Completion rate, reflecting the progress of the construction project

  • Sales rate, reflecting the proportion of projects sales rate.

Completion rate is measured using the same methodology applied to customer contracts where revenue is recognized over time under IFRS accounting principles, and also the same management judgment and estimates consistently apply for segment reporting. These judgments involve forecasted revenues and costs, determining performance obligations and estimating the transaction price.

Percentage of completion method is not applied in segment reporting for self-developed projects in joint ventures or associated companies; instead, revenue in these entities is recognized in accordance with IFRS 15, i.e., at a point in time when control is transferred. Income taxes are adjusted based on the segment reporting for the purpose of calculating result for the period.

Result for the period and earnings per share are included in segment reporting only at the group level. Operative capital employed is reported as part of segment reporting reflecting items aligned with the company's strategy and revenue recognition method applied in segment reporting.

The differences between IFRS and segment reporting are disclosed in the notes below. Reconciliations are provided to align segment reporting and IFRS figures. Segment reporting figures are presented in tables with a gray background.

Significant management judgments

In preparing this Interim Report, significant judgments made by management in applying the accounting policies and the key sources of estimation uncertainty were the same as those described in the consolidated Financial Statements for the year ended 31 December 2025.

Most relevant currency exchange rates used in the Interim Report

Average rates

End Rates

1-9/26

1-9/25

9/26

9/25

1 EUR =

CZK

24.2836

24.8275

24.4400

24.3350

PLN

4.2705

4.2405

4.3690

4.2698

‌Notes‌ ‌Adjustments concerning prior periods‌ Adjustment to the presentation of consolidated cash flow statement

YIT has adjusted the presentation of consolidated cash flow statement between net cash generated from operating activities and net cash used in financing activities in Q1/2026. Paid interests and expenses from hybrid bonds, previously presented in net cash generated from operating activities, are now presented in net cash used in financing activities. The table below presents the adjustments for Q1-Q4/2025.

EUR million

1-3/25

Adjustment

Adjusted 1-3/25

1-6/25

Adjustment

Adjusted 1-6/25

Net cash generated from operating activities

-17

6

-11

-44

8

-36

Net cash used in financing activities

-20

-6

-26

-4

-8

-12

EUR million

1-9/25

Adjustment

Adjusted 1-9/25

1-12/25

Adjustment

Adjusted 1-12/25

Net cash generated from operating activities

-47

8

-39

13

8

21

Net cash used in financing activities

-21

-8

-29

-87

-8

-95

‌Segment information‌ Segment financial information

7-9/26

EUR million

Residential

Finland

Residential

CEE

Building Construction

Infrastructure

Other Items

Group

Revenue

51

115

217

157

-11

530

Revenue from external customers

46

114

213

157

-

530

Revenue Group internal

6

-

5

0

-10

Depreciation, amortization and impairment

-

-1

-1

-1

-1

-5

Adjusted operating profit

-3

15

11

10

-3

30

Adjusted operating profit margin, %

-5.2

13.0

5.2

6.1

5.7

Adjusting items

0

-20

0

-

-21

Operating profit

-3

15

-9

9

-3

9

Result for the period

-6

Earnings per share, EUR

-0.03

7-9/25

EUR million

Residential

Finland

Residential

CEE

Building Construction

Infrastructure

Other Items

Group

Revenue

81

105

161

127

-7

466

Revenue from external customers

75

105

160

126

-

466

Revenue Group internal

5

1

1

-7

Depreciation, amortization and impairment

-

-1

-1

-1

-2

-5

Adjusted operating profit

0

14

6

7

-3

24

Adjusted operating profit margin, %

-0.6

13.8

3.5

5.9

5.1

Adjusting items

2

2

-2

-

1

Operating profit

1

14

7

5

-4

25

Result for the period

2

Earnings per share, EUR

0.00

1-9/26

EUR million

Residential

Finland

Residential

CEE

Building Construction

Infrastructure

Other Items

Group

Revenue

167

293

543

426

-28

1,400

Revenue from external customers

151

292

535

420

3

1,400

Revenue Group internal

16

1

8

6

-31

Depreciation, amortization and impairment

-1

-2

-3

-4

-3

-13

Adjusted operating profit

-12

42

21

18

-8

60

Adjusted operating profit margin, %

-7.0

14.3

3.8

4.1

4.3

Adjusting items

-10

-43

-3

-

-56

Operating profit

-22

42

-23

15

-8

4

Result for the period

-51

Earnings per share, EUR

-0.25

1-9/25

EUR million

Residential

Finland

Residential

CEE

Building Construction

Infrastructure

Other Items

Group

Revenue

242

255

473

365

-23

1,313

Revenue from external customers

227

255

471

360

-

1,313

Revenue Group internal

16

2

5

-23

Depreciation, amortization and impairment

-1

-2

-3

-4

-5

-14

Adjusted operating profit

1

29

11

15

-5

52

Adjusted operating profit margin, %

0.6

11.2

2.4

4.2

3.9

Adjusting items

1

4

-4

-3

-2

Operating profit

3

29

15

12

-8

50

Result for the period

-5

Earnings per share, EUR

-0.05

1-12/25

EUR million

Residential

Finland

Residential

CEE

Building Construction

Infrastructure

Other Items

Group

Revenue

314

355

649

517

-32

1,803

Revenue from external customers

293

355

646

511

-

1,803

Revenue Group internal

21

3

7

-31

Depreciation, amortization and impairment

-1

-3

-4

-5

-7

-19

Adjusted operating profit

-9

39

13

22

-6

58

Adjusted operating profit margin, %

-3.0

11.0

2.0

4.3

3.2

Adjusting items

1

3

-5

-4

-5

Operating profit

-8

39

16

17

-10

54

Result for the period

-17

Earnings per share, EUR

-0.11

Operative capital employed by segments

EUR million

9/26 9/25 12/25

Residential Finland

Residential CEE Building Construction Infrastructure

Other Items

Operative capital employed, total

589

347

-78

-95

241

1,004

559

324

-35

-58

252

1,042

564

329

-64

-85

231

976

‌Reconciliation, segment reporting Reconciliation, Revenue

EUR million

7-9/26

7-9/25

1-9/26

1-9/25

1-12/25

Revenue, segment reporting

530

466

1,400

1,313

1,803

Timing difference in revenue recognition

4

-64

-67

-113

-46

Revenue, IFRS 533

402

1,333

1,200

1,757

Reconciliation, Operating profit

EUR million

7-9/26

7-9/25

1-9/26

1-9/25

1-12/25

Adjusted operating profit, segment reporting

30

24

60

52

58

Adjusting items

Gains and losses on disposal of businesses

-

-2

-

-2

Operating profit from operations to be closed

-

-2

-

-3

-4

Items related to non-core businesses

-

-2

-2

Non-strategic items related costs, profits, gains and losses

-20

3

-51

5

4

Items related to restructuring, efficiency and adaptation measures, and other non-recurring costs related to Group management team

-

-3

Depreciation, amortization and impairment from PPA*

-

-1

-1

Adjusting items, total

-21

1

-56

-2

-5

Operating profit, segment reporting

9

25

4

50

54

Timing difference in revenue recognition

2

-15

-17

-28

-8

Operating profit, IFRS

*PPA refers to merger-related fair value adjustments.

12

9

-13

22

45

Reconciliation, Result for the period

EUR million

7-9/26

7-9/25

1-9/26

1-9/25

1-12/25

Result for the period, segment reporting

-6

2

-51

-5

-17

Timing difference in revenue recognition

2

-12

-14

-22

-7

Result for the period, IFRS

-4

-10

-65

-28

-24

Reconciliation, Capital employed by segments

EUR million

9/26

9/25

12/25

Operative capital employed, segment reporting 1,004 1,042 976

Non-strategic items 257 396 343

Capital employed, segment reporting 1,261 1,438 1,320

Timing difference in revenue recognition

-34

-37

-17

Capital employed total, IFRS

1,226

1,401

1,302

‌Inventories, IFRS‌

EUR million

9/26

9/25

12/25

Raw materials and consumables

7

7

5

Work in progress

347

304

240

Plot reserve

557

554

549

Completed apartments and real estate

199

288

293

Advance payments

9

18

12

Other inventories

2

1

1

Inventories

1,121

1,172

1,100

Plot reserve

162

171

163

Plots, work in progress

18

12

16

Plots, completed apartments and real estate

25

29

28

Leased inventories

205

212

208

During January-September 2026, YIT recognized inventory write-downs related to the Residential Finland segment amounting to EUR 1 million and Building Construction segment amounting to EUR 1 million. In 2025, YIT recognized inventory write-downs related to the Residential Finland segment amounting to EUR 2 million and Building Construction segment amounting to EUR 1 million.

‌Derivative contracts, IFRS‌

EUR million

9/26

9/25

12/25

Value of underlying instruments

Interest rate derivatives (hedge accounting applied)

270

220

220

Interest rate derivatives (hedge accounting not applied)

100

140

115

Foreign exchange derivatives

89

96

127

Fair value

Interest rate derivatives (hedge accounting applied)

5

-3

-2

Interest rate derivatives (hedge accounting not applied)

1

-1

-

Foreign exchange derivatives

-

-

-

‌Contingent liabilities and assets, IFRS‌

EUR Million

9/26

9/25

12/25

Guarantees given

Guarantees on behalf of others

-

-

-

Guarantees on behalf of consortia

6

10

4

Guarantees on behalf of parent and other Group companies

928

746

835

Guarantees given are typical in construction industry including, for example, performance and warranty guarantees.

As a result of the partial demerger registered on 30 June, 2013, YIT has a secondary liability for guarantees transferred to Caverion Corporation, with a maximum total amount of EUR 1 million (1) on 30 September 2026.

EUR million

9/26

9/25

12/25

Collateral given

Nominal amount of financial liabilities covered by collateral

349

357

299

Collateral related to financial liabilities above

Plots and real estate properties in inventories

158

162

159

Equity investments

93

187

136

Interest-bearing receivables

4

6

Subsidiary shares*

1,468

1,481

1,468

Subsidiary loan receivables*

126

145

101

*Book values of subsidiary shares in the separate financial statements of the owning group company and subsidiary loan receivables in the lender's balance sheet.

The collaterals given are mainly share, partnership interest or real estate pledges provided as collateral for YIT's financial liabilities. The pledge terms are conventional pledge terms in accordance with market practice.

EUR Million

9/26

9/25

12/25

Other

Investment commitments*

197

105

171

Purchase commitments

191

229

225

Option agreements, plots**

61

Accrued interest on the hybrid bonds, unrecognized

3

4

7

*The increase in investment commitments compared to the comparison period primarily reflects the return of capital from Tripla Mall Ky.

**Remaining unavoidable option fees under the existing contracts, assuming the options are not exercised.

Investment commitments are related to joint ventures, associated companies and equity investments.

Purchase commitments are mainly pre-contracts for plot acquisitions, the realization of which typically depends on the implementation of zoning. The value of the plot purchase commitments is an estimate which is subject to zoning, amount of building rights and changes in cost indexes. In addition, the amount presented in the notes is based on the estimated acquisition value of the plot, despite conditionalities or possible termination clauses in the contract.

YIT has entered into option agreements related to plots, under which YIT obtains a contractual right, but not an obligation, to acquire the land once the conditions to exercise the option are met. Upon signing, YIT does not assume a present obligation to acquire the land or to continue the contract beyond the current option period. However, the agreements may involve potential future outflows, such as the payment of option fees, and a risk that the contract could later become onerous if the option is not exercised and YIT is unable to transfer or otherwise exit the arrangement. Accordingly, the arrangements are disclosed as contingent liabilities.

‌IFRS Accounting Standards, interpretations and amendments not yet effective‌ IFRS 18 Presentation and Disclosure in Financial Statements

IFRS 18 Presentation and Disclosure in Financial Statements introduces new requirements for the presentation of financial performance and related disclosures. The standard replaces IAS 1 Presentation of Financial Statements and is effective for annual reporting periods beginning on or after 1 January 2027. IFRS 18 will be applied retrospectively, and YIT is preparing for the adoption of the standard and the related restatement of comparative financial information.

IFRS 18 introduces a defined structure for the statement of profit or loss, including operating, investing and financing categories and the new required subtotals operating profit and profit before financing and income taxes. The standard also introduces disclosure requirements for management-defined performance measures and enhanced principles for the aggregation and disaggregation of information. The consequential amendments to IAS 7 will also result in changes to the presentation of the statement of cash flows.

Based on YIT's implementation work to date, the main changes in the statement of profit or loss relate to the classification of certain items. The share of results of associated companies and joint ventures, fair value changes in financial assets and certain income and expenses arising from financial assets will be presented in the investing category. Income and expenses arising from financing liabilities, including the effects of discounting provisions, will be presented in the financing category. Foreign exchange differences will be classified in the same category as the income or expense arising from the underlying item. The changes will affect operating profit and certain other subtotals but not YIT's revenue, result for the period or equity.

The consequential amendments to IAS 7 will also change the presentation of YIT's statement of cash flows. As YIT presents cash flows from operating activities using the indirect method, operating profit will be used as the starting point. Interest paid will be classified as a financing cash flow, while interest and dividends received will be classified as investing cash flows. These changes will affect the allocation of cash flows between operating, investing and financing activities but will not affect the total net change in cash and cash equivalents.

The Group has assessed the performance measures used in its public financial communications against the IFRS 18 requirements concerning management-defined performance measures. The assessment will be finalized before the publication of the Group's first interim report for 2027, in which IFRS 18 will be applied for the first time.

‌Additional information‌ ‌Reconciliation of certain key figures‌ Reconciliation of adjusted EBITDA, segment reporting, rolling 12 months

EUR million

9/26

Adjusted operating profit

67

Depreciation and amortization

19

Depreciation, amortization and impairment from PPA

-

Adjusted EBITDA 85

Reconciliation of order book, IFRS

EUR million

9/26

9/25

12/25

Partially or fully unsatisfied performance obligations

2,912

2,208

2,223

Unsold self-developed projects

536

721

692

Order book

3,448

2,929

2,915

Reconciliation of adjusted interest-bearing debt, IFRS

EUR million

9/26

9/25

12/25

Interest-bearing debt

770

827

764

Housing company loans (related to unsold apartments)

-118

-138

-130

Lease liabilities

-254

-260

-258

Adjusted interest-bearing debt

398

429

376

‌Definitions of financial key performance indicators‌

Key figure Definition Reason for use

Operating profit Result for the period before taxes and finance expenses and

finance income equalling the subtotal presented in the consolidated income statement.

Operating profit represents the result generated by operating activities excluding finance and tax-related items.

Adjusted operating profit Operating profit excluding adjusting items. Adjusted operating profit is presented

in addition to operating profit to reflect the underlying core business performance and to enhance comparability from period to period. Management believes that this alternative performance measure provides meaningful supplemental information by excluding items not part of YIT's core business operations thus improving comparability from period to period.

Adjusting items Adjusting items are material items outside ordinary course of

business such as write-down of inventories, impairment of goodwill, fair value changes related to redemption liability of non-controlling interests, integration costs and expenses related to merger, transaction costs and expenses related to merger, costs, expenses, compensations and reimbursements related to claims and litigations, costs, expenses, profits, gains and losses related to non-strategic items, write downs related to non-core businesses, operating profit from businesses to be closed down, gains or losses arising from the divestments of a business or part of a business, items related to restructuring, efficiency and adaptation measures and other non-recurring costs arising from agreements with the Group management team, impacts of the fair value adjustments from purchase price allocation, such as fair value adjustments on acquired inventory, depreciation of fair value adjustments on acquired property, plant and equipment, and amortization of fair value adjustments on acquired intangible assets relating to business combination accounting under the provisions of IFRS 3, referred to as purchase price allocation ("PPA").

(Starting from January 1, 2026, the definition of adjusting items has been expanded to include non-strategic items.)

Capital employed Capital employed includes tangible and intangible assets,

shares in associates and joint ventures, investments, inventories, trade receivables and other non-interest bearing receivables, provisions, advance payments and other non-interest bearing debts excluding items related to taxes, finance items and profit distribution. Capital employed is calculated from the total capital employed of the segments.

Operative capital employed Capital employed less non-strategic items.

(Operative capital employed key figure has been adopted as of January 1, 2026.)

Interest-bearing debt Non-current and current interest-bearing liabilities including

non-current and current lease liabilities.

Adjusted interest-bearing debt Non-current and current interest-bearing liabilities less Finnish

housing company loans and other project loans related to self-developed construction projects.

Net interest-bearing debt Interest-bearing debt less cash and cash equivalents and

interest-bearing receivables.

Capital employed presents capital employed of segment's business operations

Operative capital employed represents the segment's

strategy-aligned capital employed, excluding non-strategic items.

Interest-bearing debt is a key figure for measuring YIT's total debt financing.

Adjusted interest-bearing debt describes the YIT's total debt financing excluding lease liabilities, Finnish housing company loans and other project loans related to self-developed construction projects. The key figure provides useful information on the amount of YIT's financial debt.

Net interest-bearing debt is an indicator for measuring YIT's net debt financing.

Adjusted net interest-bearing debt

Adjusted interest-bearing debt less cash and cash equivalents and interest-bearing receivables.

Adjusted net interest-bearing debt describes the YIT's net debt excluding lease liabilities, Finnish housing company loans and other project loans related to self-developed construction projects. The key figure provides useful information on the amount of YIT 's financial net debt.

Equity ratio, % Equity total/total assets less advances received. Equity ratio is a key figure for

measuring the relative proportion of equity used to finance YIT's assets.

Key figure

Definition

Reason for use

Gearing ratio, %

Interest-bearing debt less cash and cash equivalents and interest-bearing receivables/total equity.

Gearing ratio is one of YIT's key longterm financial targets. It helps to understand how much debt YIT is using to finance its assets relative to the value of its equity.

Gearing ratio, %, adjusted

Adjusted interest-bearing debt less cash and cash equivalents and interest-bearing receivables/total equity.

The key figure provides useful information on the debt/equity ratio excluding lease liabilities, Finnish housing company loans and other project loans related to self-developed construction projects.

Return on capital employed,

Rolling 12 months adjusted operating profit / average

Return on capital employed, % is one

(ROCE), %, rolling 12 months

operative capital employed

Group:

of YIT's key long-term financial

targets. Key figure describes segment's relative profitability, in

Rolling 12 months adjusted operating profit / average

operative capital employed, segments total.

other words, the profit received from

operative capital employed.

Starting from January 1, 2026 return on capital employed, % is based on operative capital employed.

Return on equity, %

Result for the period, 12 months rolling/equity total average

Key figure describes YIT's relative profitability.

Operating cash flow after investments

Operating cash flow presented in cash flow statement after investments.

Order book

Transaction price allocated to performance obligations that are partially or fully unsatisfied and estimated transaction price related to unsold self-developed projects.

Order book presents estimated transaction price for all projects.

Gross capital expenditures

Investments in tangible and intangible assets.

Equity per share

Equity total divided by number of outstanding shares at the end of the period.

Net debt/adjusted EBITDA ratio

Net debt/rolling 12 months adjusted operating profit before

Net debt to adjusted EBITDA gives

(rolling 12 months)

depreciations and amortisations added

investor information on ability to

service debt.

Interest cover ratio

Adjusted operating profit before depreciations and amortisations/ (net finance costs - net exchange currency differences), rolling 12 months

Interest cover ratio gives investors information on YIT's ability to service debt

Market capitalisation

(Number of shares - treasury shares) multiplied by share price on the closing date by share series.

Average share price

EUR value of shares traded during period divided by number of shares traded during period.

‌YIT Corporation‌

P.O. Box 36, Panuntie 11 FI-00621 Helsinki

Tel. +358 20 433 111

www.yitgroup.com

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