Q3 earnings, margin beats boost YIT shares

YIT Oyj

31/10/2024 08:55

** Shares in YIT rise 13% after the Finnish construction and
development company's earnings beat estimates in Q3
    ** Despite a decrease on net sales line, YIT's adj. EBIT
rose to EUR 26 million in the quarter, beating estimate of EUR
11.6 million seen in Vara Research consensus
    **  Inderes analysts Olli Koponen says earnings developed
better than expected thanks to residential sales in the CEE
countries and one-off items
    ** Koponen also highlights Q3 margin which increased to 5.7%
from 3.0% a year ago and came in "well above consensus and our
expectations" 
    ** YIT kept its guidance unchanged, adding that housing
market recovery in the Baltic countries and Central Eastern
Europe is expected to continue, while staying on the same level
in Finland
        ** The stock is on track for its best day since May,
when it closed 17.7% higher  


($1 = 0.9210 euros)

 (Reporting by)
 ((Agnieszka.Olenska@thomsonreuters.com;))