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YIT and Autodesk pull out of Russia

For Ukraine
Finnish construction group YIT has announced that it is pulling out of Russia, while Autodesk, a producer of software for the construction and engineering industries, is also withdrawing from the country.

The Russian military attack has led to great human distress and suffering in Ukraine and our sympathy is with the Ukrainian people. We are deeply shocked by these recent events. The situation in Ukraine has sped up the review of our Russian operations, which we initiated last November.
Markku Moilanen, the president and CEO of YIT

YIT’s Russian residential division generated EUR 204 mln in revenue in 2021, representing 7 pct of the group’s total income for the year. The company had been employing around 1,500 people in Russia. In addition, the group had been purchasing building materials in Russia, mostly wooden products, but has now decided to discontinue these imports.

American software developer Autodesk has also announced its withdrawal from Russia. The company, which provides software for the construction, engineering and architectural sectors, among others, was responsible for the development of the AutoCAD and the 3ds Max platforms. According to a company statement: “Autodesk is suspending our business in Russia immediately and continuing to comply fully with all sanctions currently in place. We’ll consider further limits to our business in the region should sanctions expand, and as the situation develops.”

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Edition 1 (285) January 2024

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