YEAR-END REPORT, JANUARY-DECEMBER 2004

Fourth quarter of 2004 compared to fourth quarter of 2003 - Net sales of the Skanska Group amounted to SEK 30,616 M (35,605), a decline of 14 percent. Adjusted for currency rate effects, net sales declined by 3 percent. - Operating income amounted to SEK 101 M (1,278). The European operations showed good results. These are however overshadowed by project writedowns in the United States and the United Kingdom totaling SEK 1,095 M. - Income after financial items amounted to SEK 144 M (1,189). - Net profit amounted to SEK 87 M (760) and net profit per share in the fourth quarter amounted to SEK 0.21 (1.82). January-December 2004 compared to January-December 2003 - Net sales of the Skanska Group amounted to SEK 121,263 M (132,879), a decline of 9 percent. Adjusted for currency rate effects, net sales declined by 4 percent. - Operating income amounted to SEK 3,853 M (4,532). - Gain from divestments of properties in Commercial Project Development amounted to SEK 1,515 M (2,399). - Operating income from discontinuing operations amounted to SEK 768 M (169). - Income after financial items amounted to SEK 3,819 M (4,072). - Net profit amounted to SEK 2,648 M (2,761) and net profit per share for the full year 2004 amounted to SEK 6.33 (6.60). - Order bookings exceeded net sales in Construction by SEK 8 bn. - Capital employed shrank to SEK 21.1 billion (24.5). - Construction investments in several of Skanska’s markets are continuing to show signs of recovery. - The Board of Directors proposes a dividend of SEK 4.00 (3.00) per share for the 2004 financial year.