Three month report, January-March 2018
January-March 2018 compared to January-March 2017
Highlights according to segment reporting
• Revenue increased 8 percent and amounted to SEK 37.0 billion (34.2); adjusted for currency effects revenue increased 11 percent.
• Operating income decreased 65 percent and amounted to SEK 0.7 billion (1.8); adjusted for currency effects operating income decreased 60 percent. As previously announced, restructuring charges were taken during the quarter and totaled SEK 670 M.
• Earnings per share decreased 68 percent to SEK 1.25 (3.90).
• Operating cash flow from operations amounted to SEK –0.6 billion (1.6), according to IFRS.
• Operating net financial assets totaled SEK 9.3 billion (Dec. 31, 2017: 9.7), according to IFRS.
• Order bookings in Construction decreased 14 percent and amounted to SEK 32.9 billion (38.2); adjusted for currency effects order bookings decreased 12 percent. The order backlog amounted to SEK 190.9 billion (Dec. 31, 2017: 188.4).
• Operating income in Construction amounted to SEK –41 M (392) and includes SEK 430 M of the previously announced restructuring charges. Additional project write-downs in the Polish operations of about SEK 600 M are also included. Claims resolutions in the US civil operations and effects from pension curtailments in the UK operations had a positive impact of about SEK 500 M in total.
• Operating income in Project Development (Residential, Commercial Property and Infrastructure) decreased 42 percent and amounted to SEK 1.0 billion (1.7); adjusted for currency effects operating income decreased 43 percent. Comparison period included the SEK 0.9 billion divestment gain from the A1 PPP-project.
• Return on capital employed in Project Development was 14.7 percent (15.9).
• Net investments in Project Development amounted to SEK –1.7 billion (0.7), according to IFRS.
This report will also be presented via a press conference and webcast at 10:00 a.m. (CET) on May 9, 2018. The press conference will be webcasted live at www.skanska.com/investors, where a recording of the conference will also be available later. To participate in the telephone conference, please dial +46 8 505 564 74, +44 203 364 5374, or +1 855 753 2230. This and previous releases can also be found at www.skanska.com/investors.
For further information, please contact:
Magnus Persson, Executive Vice President and CFO, Skanska AB, tel +46 10 448 8900
André Löfgren, Senior Vice President, Investor Relations, Skanska AB, tel +46 10 448 1363
Karolina Cederhage, Senior Vice President, Communications, Skanska AB, tel +46 10 448 0880
Edvard Lind, Group Press Officer, Skanska AB, tel +46 10 448 8808
The information provided herein is such as Skanska AB is obligated to disclose pursuant to the EU market securities act (EU) no. 596/2014.
Skanska is one of the world’s leading construction and project development companies, focused on selected home markets in the Nordics, Europe and USA. Supported by global trends in urbanization and demographics, and by being at the forefront in sustainability, Skanska offers competitive solutions for both simple and the most complex assignments, helping to build a sustainable future for customers and communities.