The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Anssi Raussi - SEB - Analyst
: A couple of questions from me and I start with the guidance. So what makes you so confident that you will actually reach a positive cash flow after
investments this year? Like, is it relying on your business -- underlying business, or do you see something, let's say, extraordinary happening in H2?
Question: Anssi Raussi - SEB - Analyst
: Okay. And another one is about your Infra business, as you mentioned, that one. Like, can you remind us about the schedule about or regarding
the close down of the Infra business in Sweden? And what kind of gradual decline we are going to see? And also, if it's going to trigger any onetime
costs or not?
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JULY 26, 2024 / 7:00AM, YIT.HE - Q2 2024 YIT Oyj Earnings Call
Question: Svante Krokfors - Nordea Bank Abp - Analyst
: A couple of questions. Also a question regarding the guidance, specifically the EBIT guidance of EUR20 million to EUR60 million, which is unchanged.
Could you elaborate a bit on the logic here as you basically downgraded the Q4 outlook for Housing Finland? Q4 has typically been an important
quarter and obviously, you have completions in Finland also there. So should we interpret this as CEE -- Baltics and CEE, Infra, and Business Premises
outlook is better for H2 than earlier?
Question: Svante Krokfors - Nordea Bank Abp - Analyst
: Okay. Then a question regarding land plot investments worth EUR39 million in Q2. It's very difficult for us to see what is coming up for the coming
quarters or years when it comes to timing. I think you have disclosed the total amounts, but can you comment anything about potential commitments
that you need to meet during the near future?
Question: Svante Krokfors - Nordea Bank Abp - Analyst
: And then on Housing, still the completion issues or postponements that you had in CEE, is it similar reasons as earlier?
Question: Svante Krokfors - Nordea Bank Abp - Analyst
: And then looking at the housing and investor side, do you see any demand in the near future for the good start investor projects on the Housing
side?
Question: Svante Krokfors - Nordea Bank Abp - Analyst
: And the last question regarding your headquarters sublease, EUR20 million impact. Could you -- at least I have missed that. I might have read the
news a bit. I haven't seen that announced earlier. So could you elaborate a bit on what that includes?
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JULY 26, 2024 / 7:00AM, YIT.HE - Q2 2024 YIT Oyj Earnings Call
Question: Emil Immonen - Carnegie Investment Bank - Analyst
: Just to continue on the housing side, I saw that some competitors have sold apartments to investors. Could you also do that if you wanted to in
Finland? Or is it still closed off?
Question: Emil Immonen - Carnegie Investment Bank - Analyst
: Okay. In that case, I assume that with consumers you get higher prices. You haven't sold at a loss yet, even though in Finland you were loss-making
on adjusted EBIT?
Question: Emil Immonen - Carnegie Investment Bank - Analyst
: Okay. Can you just remind me how would you expect the joint ventures then in CEE to impact your profitability?
Question: Olli Koponen - Inderes Oy - Analyst
: I have a few questions left for myself. I don't know if you answered already to this, but can you elaborate more? Was there something kind of out
of ordinary in Infra's operating profitability in Q2?
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JULY 26, 2024 / 7:00AM, YIT.HE - Q2 2024 YIT Oyj Earnings Call
Question: Olli Koponen - Inderes Oy - Analyst
: And can I ask one more question on the Infra segment? Do you think -- or is your assumption that like normally in Infra business, the Q2 and Q3
are the best quarters?
Question: Olli Koponen - Inderes Oy - Analyst
: Okay. Then lastly, just a question about debt structure now going forward. Could you kind of remind us what are your covenants in your existing
debt now? And how are you kind of handling those at the moment? Like, could there be a problem with those if you cannot improve your profitability
by the year-end, which might have been the kind of assumption when the year started?
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