New reporting structure and recent divestments of properties
New reporting structure and recent divestments of properties On Thursday, August 30, Skanska AB will publish its results for the first half of 2001. Earlier this year, a reorganization occurred at Skanska, and the Group's reporting structure will thus be changed. New reporting structure To reflect the new organizational structure, which is divided into 18 business units, the operations of the Group are reported in three main segments: Construction-related services, Project Development and BOT and Services and Telecom. The first of these, construction-related services, is divided into four markets: 1. Scandinavia Sweden, Norway and Denmark 2. Europe Finland, Great Britain, Poland, the Czech Republic and Russia 3. USA The United States 4. Other markets Argentina, Hong Kong, India and project exports to other countries Reporting of key figures For the four markets under construction-related services and for Project Development and BOT, as well as for Services and Telecom, the following key figures will be reported: net sales, operating income, operating margin, order bookings and order backlog. These will be reported for the first half of 2001, and for the second quarter separately. Year-earlier comparative figures will be reported for these periods, as well as on a twelve month rolling basis and for the full year 2000. Beginning on January 1, return on capital employed and earnings before interest, taxes, depreciation and amortization (EBITDA) will both be included as key figures for each of these six segments/markets. It is also Skanska's intention to report construction-related services broken down into building construction and civil construction. Capital gains on the sale of properties For the first half of 2001, the Skanska Group will report capital gains of SEK 1,322 M on the sale of properties. As stated in earlier press releases, Skanska recently sold properties and projects to the Swedish real estate company Vasakronan. Of a total capital gain of just over SEK 1 billion on this transaction, SEK 790 M represented a gain on the sale of properties, while the remaining gain is attributable to the Kista Entré project in northern Stockholm. The capital gain on the Kista Entré project is being realized in the accounts of Skanska's Sweden business unit on a percentage of completion basis during the period through June 2003, when the completed project will be taken over by Vasakronan. After the close of the report period, the Lammet property in the Norrmalm district of central Stockholm was sold at a price of SEK 197 M. Skanska's capital gain on this sale amounted to SEK 91 M. The property was acquired in 1999. Skanska's aim is to maintain a high property turnover rate in its project development operations. For further information, please contact: Peter Wallin, Senior Vice President, Investor Relations, +46 (0)8-753 88 00 Johanna Zador, Deputy Manager, Investor Relations, +46 (0)8-753 88 00 This and previous releases can also be found at www.skanska.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/08/24/20010824BIT00260/bit0001.doc http://www.waymaker.net/bitonline/2001/08/24/20010824BIT00260/bit0001.pdf