YIT Oyj has completed the strategic review of its Swedish infrastructure business, which was announced on 20 June 2023. As a result of the review, YIT has decided to close down its infrastructure business in Sweden. In connection with the decision, YIT will recognize a negative booking of EUR 16 million in profit for the fourth quarter of the financial year 2023, related to the decision to close down the operations and its implications to the margin forecasts of the ongoing projects.

The business to be closed down will be recorded in EBIT adjusting items from the beginning of the fourth quarter of the financial year 2023 and the booking will have no impact on YIT?s guidance for the financial year 2023. The company will initiate change negotiations in the Swedish infrastructure business in connection with the decision. There are approximately 125 employees in the scope of the negotiations.

The infrastructure business in Sweden accounted for approximately 4.5% of YIT's revenue in the financial year 2022. The ongoing projects of the business to be closed down are expected to be completed by 2027, after which YIT will no longer have operations in Sweden. The decision to close down the infrastructure operations in Sweden and the previously announced sale of the renewable energy business are part of YIT's transformation program, announced on 10 February 2023.

One of the objectives of the program is to improve YIT?s capital efficiency. The company continues the strategic review, announced on 20 June 2023, regarding certain assets and operations and selected investments, including YIT?s ownership stake in Tripla Mall.