Q2 2024 YIT Oyj Earnings Call Transcript

Jul 26, 2024

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Jul 26, 2024 / 07:00AM GMT
Essi Nikitin - YIT Oyj - Vice President - Investor Relations

Good morning, everyone, and welcome to YIT's second-quarter 2024 results webcast. My name is Essi Nikitin, and I'm Heading the Investor Relations at YIT. Together with me here are our CEO, Heikki Vuorenmaa; and our CFO, Tuomas Makipeska. At this point, I will hand over to Heikki. Please go ahead.

Heikki Vuorenmaa - YIT Oyj - Chairman of the Group Management Team, President, Chief Executive Officer

Thank you, Essi, and welcome all to the webcast also from my behalf. We launched our transformation program February 10, '23. At that time, we expected to reach our savings target by the end of '24. Today, I'm happy to announce that we have already implemented the measures needed to save EUR40 million annually from our operations. The achievement does not mark the end of our effort.

We continue to optimize our operational efficiency to identify further cost savings. Our profit for the second quarter was driven by Infrastructure, Business Premises, and Baltics and CEE performance as the Housing

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