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.