YIT Oyj (OTCPK:YITYY)

$ 1.29 0 (0%) Market Cap: 594.88 Mil Enterprise Value: 1.51 Bil PE Ratio: 0 PB Ratio: 0.66 GF Score: 50/100

Q1 2023 YIT Oyj Earnings Call Transcript

May 03, 2023 / 07:00AM GMT

Release Date Price: $1.23

Transcript

Samu Heikkila

YIT Oyj - IR Manager

Good morning, and welcome to YIT's First Quarter 2023 Results Webcast. My name is Samu Heikkila, and I'm YIT's Investor Relations Manager. The results and highlights of YIT's first quarter will be presented by our CEO, Heikki Vuorenmaa; and our CFO, Tuomas Makipeska. After the presentation, we will be taking questions from the conference call line.

At this point, I would like to hand over to our CEO, Heikki. Please go ahead.

Heikki Vuorenmaa

YIT Oyj - Chairman of the Group Management Team, CEO & President

Thank you, Samu. And welcome all to the Q1 interim report call also from my behalf. This year started under difficult market conditions and the strong headwinds from the market continued throughout the quarter. Consumer demand on the Finland housing market during the first quarter was unprecedentedly low level, over 80% decline year-on-year. What we have observed is that lack of the long-term visibility to the housing interest rate development, energy price fluctuation and the banking sector turbulence during

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