Vision, strategy and values
Our vision
YIT is the expert partner in developing sustainable homes, spaces and cities - for a good life
For over 110 years, YIT has been building urban spaces. We have created iconic landmarks and efficient infrastructure to improve the quality of life. We’ve constructed buildings where people can do their best and we have built homes where people can thrive in their own unique ways.
Today, YIT employs more than 4,100 professionals in eight countries: Finland, Sweden, Estonia, Latvia, Lithuania, the Czech Republic, Slovakia and Poland. We are focused on building highly functional and sustainable homes and living environments in growing cities, building and renovating schools, hospitals, and industrial, commercial and public premises as well as building rails, roads, bridges, tunnels, and infrastructure facilities to enable sustainable living.
Megatrends support YIT’s business in many ways. Urbanization and demographic changes increase the demand for sustainable and vibrant living environments. Climate change and energy transition place demands for sustainable construction and green infrastructure in Europe. Digitalization and artificial intelligence require investments in data centers and global security needs have risen across our operating countries.
Our vision
We are the expert partner in developing sustainable homes, spaces and cities - for a good life
YIT's vision offers us a clear, shared goal and looks beyond the current day-to-day into the future. It paints a picture of what success will look like in the future. The vision outlines our essential topics, provides inspiration and guides our plans and strategy. It is an important tool that allows us to ensure that the actions we take are guiding us in the right direction.
YIT's success builds on nurturing and attracting professionals with diverse expertise. We want to find and employ the best professionals so that we can offer our customers a broad range of expertise, with technical, technological, social, economic, and societal understanding and insights. In an increasingly digitalized world, we want to ensure that YIT has the most competent people.
YIT aims to be the expert partner. We work closely with our customers, aiming to understand their needs, even those that are not always said aloud. Our relationship with our customers is close and collaborative. We cherish our strong reputation as a creative, collaborative, and constructive partner that delivers on its promises and more.
For YIT, sustainability is not just about being green; it’s all the ecological, social, and governance considerations. Sustainability guides all operations at YIT; we not only follow trends and standards but strive to be one step ahead in development. Through technological innovations, decades of expertise, and the extensive know-how of our teams, we are ready to challenge the obvious.
At YIT, we understand our customers – businesses, public representatives, and city residents alike – who create their living environment and live in the homes we build, move around in cities, and work in the premises we build. We do not offer one-size-fits-all solutions but build our work on deep understanding and diverse knowledge of good life.
For a good life – also from the viewpoint of our employees. We want to offer a safe working environment and the opportunity to learn, develop, and grow together with YIT.
YIT strategy 2025–2029: Strong performance in all market conditions
With the new strategy, YIT improves its resilience over the next five years and provides value creation to all its stakeholders.
There are three strategic priorities for 2025–2029:
- to deliver industry-leading productivity and financial performance,
- generate targeted growth and resilience,
- and elevate customer and employee experience.
Group-level targets
YIT will assess the success of its strategy with the following group financial targets to be reached by the end of 2029.
Financial targets:
- Adjusted operating profit margin at least 7%
- Return on capital employed at least 15%
- Annual net sales growth of at least 5%, with the compound annual growth rate (CAGR) based on year 2024.
In addition, YIT will introduce a financial framework and non-financial targets for the strategy period.
Financial framework:
- Dividend payout ratio at least 50%, subject to fulfillment of certain conditions in current financial agreements
- Net debt to equity (gearing) in the range of 30-70% over the cycle
Non-financial targets:
- Maintain high customer NPS level of over 50 across the operations
- Employee NPS at least 50
- Combined Lost Time Injury Frequency (cLTIF) below 5 in all operations
- SBTi commitment implemented by 2030 (scope 1 & 2 CO2 -90% and scope 3 -30%)
The targets set for the strategy period include an assumption of the Finnish residential market recovering to a historical average level during the period. YIT’s view of 2010-2020 average self-developed multi-family residential starts in Finland is 16,000 apartments per year.
To ensure and support the targeted growth and resilience, YIT has decided to change its segment structure. From January 1, 2025 onwards, YIT will have four segments as the former Housing segment will be renamed and divided into two separate segments Residential Finland and Residential CEE. The name of the former Business Premises segment is updated to Building Construction segment to better illustrate the content of the operations.
New segments from January 1, 2025 onwards and their financial targets to be reached by the end of 2029 are:
Residential Finland, focusing on residential development and construction in Finnish growth centers for consumers and investors.
- Target is to gain market share, achieve at least 10% adjusted operating margin, and at least 20% return on capital employed.
- The financial targets set for the strategy period include an assumption of the Finnish residential market recovering to a historical average level during the period.
- YIT’s view of 2010-2020 average self-developed multi-family residential starts in Finland is 16,000 apartments per year.
Residential CEE, focusing on residential development and construction for consumers and investors in growth areas in CEE countries (Poland, Slovakia, Czechia, Estonia, Lithuania and Latvia).
- Target is to achieve at least 15% annual growth, at least 15% adjusted operating margin, and at least 25% return on capital employed.
Building Construction, focusing on contracting and selective development of commercial premises in Finland and in CEE countries for public sector and investor clients.
- Target is to achieve at least 2% annual growth, at least 6% adjusted operating profit margin and to continuously operate with negative capital employed.
Infrastructure focusing on infrastructure construction in Finland for public sector and private industrial clients.
- Target is to achieve at least 5% annual growth, at least 6% adjusted operating margin and to continuously operate with negative capital employed.
Strategic priorities
Industry-leading productivity and financial performance will be delivered by focusing on solid project and cost management, construction lead-time reductions on projects, dynamic pricing models for consumers and developing YIT towards more data, technology and process-led organization.
Moreover, significant benefits are expected to be materialized from the efficiency actions already implemented or initiated as a part of the ongoing transformation program ending in 2024.
YIT aims to generate targeted growth and resilience from its current business portfolio by targeting a more balanced geographical revenue distribution and focusing on businesses providing the greatest potential for profitable, capital-efficient growth.
To underline this, a new business segment Residential CEE will be established where the plan is to achieve significant growth. Simultaneously, the new Residential Finland business segment continues to seek operational efficiencies and build readiness to capture market share when market recovery in the Finnish housing market starts.
The newly named Building Construction business segment will target growing industry sector investments, growing its own capabilities in building technology and focusing on growth in CEE countries. Growth in the Infrastructure business segment will be mainly driven by energy and industrial construction, rail infrastructure and defense sector. All YIT businesses and selected focus areas will be strongly supported by the key global megatrends such as urbanization and demographic changes, climate change and energy transition, digitalization, and rising focus on global security.
To elevate customer and employee experience, YIT aims to build strong differentiation through delivering projects with industry-leading total customer value. In addition, to complement the strategic priority to become more data, technology and process-led organization, YIT will focus on fostering its company culture, strategic capabilities and attracting the best talent.
Moreover, the company is aiming to take a step change in work safety to demonstrate YIT’s uncompromising commitment to continuous improvement in this focus area.
Commitment to sustainability
One of key enablers of the new strategy is sustainability. In line with YIT’s vision, sustainability is an integral part of good life and considered a key competitive advantage for the company.
In terms of environmental criteria, we are committed to the Science Based Targets (SBTi) initiative to limit global warming to 1.5 degrees Celsius in line with the Paris Climate Agreement. In November 2021, YIT became the first Finnish construction company to commit to the Science Based Targets (SBTi). The Science Based Targets (SBTi) validated YIT's emission targets in June 2023. With this commitment, we are strengthening our climate work and aiming to reduce both our own and our customers' emissions.
In terms of social criteria, we will continue our work to improve society and build a better living environment. We aim to halve the amount of workplace accidents by the end of the strategy period, and we will invest in strengthening well-being at work and personal growth.
On governance criteria, we continue our rigorous approach to the grey economy. We do not tolerate corruption, labour exploitation or discrimination. We promote our sustainability objectives throughout our supply chain. We hold our suppliers to the same environmental, social and governance standards we have set ourselves.
Values
Respect
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We care about our customers and personnel
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We look for environmentally sustainable solutions
Cooperation
- We are open and share knowledge
- We involve and partner to succeed
Creativity
- We trust and build a positive spirit
- We empower people to innovate and challenge
Passion
- We aim high with quality, expertise and results
- We work ethically and keep our promises
