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Skanska Three month report, 2004

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April 2004. Order bookings. Jan-Dec. 2003. Apr 2003- Mar 2004. Jan-Mar. 2003. Jan-Mar. 2004 ... April 2004. BOT. 52. 49. 16. 13. Share of income in associated ... – PowerPoint PPT presentation

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Title: Skanska Three month report, 2004


1
Skanska Three month report, 2004
Miguel Dobrzniecki, Director of Operation and
Maintenance, Breitener Emergency Power Plant,
Brazil

2
Highlights from Q1, 2004
  • Construction Services
  • Continued improvements in Nordics
  • Still worries about U.S./U.K. markets
  • Continued pressure on margins in the U.S.
  • Project development
  • Improved earnings and increased number of
    building starts for Residential Project
    Development in most markets
  • Fewer transactions and lower sales volume in
    Commercial Project Development

3
Highlights from Q1, 2004
  • Order bookings of SEK 31.4 bn
  • up 3 on 2003 adjusted for currency
  • Bookings up in Sweden and Poland
  • Decline in USA Civil and in the U.K.
  • Net sales in Construction Services of
    SEK 24.8 bn (26.8)
  • Flat sales in local currencies
  • Operating income of SEK 456 M (720)
  • of which, gain on sale of properties 126 (488)
  • Cash flow in Construction Services of SEK 11 M
    (-1,008)
  • Increase of SEK 0.3 bn in net debt

4
Order situation Construction Services
5
Order bookings
6
Market outlook Construction
  • Construction investments remain weak
  • Exceptions are Czech Republic, PFI projects in
    the U.K., Norway and certain civil markets
  • Continued pressure on industrial and commercial
    building in most markets
  • Demand in the U.S. still at a low level

7
Market outlook Project Development
  • Residential PD activity maintained a high level
    in the Czech Republic and Finland
  • In most markets there is an increased volume of
    planned housing starts in the medium and lower
    price segments
  • Stabilizing vacancy rates but still a cautious
    approach to new investments in Commercial PD
  • Continued strong interest from investors in
    office, retail and logistics markets

8
Construction Services
9
Residential Project Development
10
Residential Project Development
All sold units include reserved units in this
summary.
11
Commercial Project Development
12
Commercial Project Development
13
BOT
14
Income analysis Group
15
Group net investments/divestments
15
16
Operating cash flow and change in net debt
16
17
Change in interest-bearing assets and liabilities
Last day of quarter, SEK M
2002
2003
2004
18
Balance sheet
19
Summary
  • Volumes in local currencies comparable to last
    year
  • Net sales down 5
  • Order bookings up 3
  • Margin improvement
  • EBITA margin of 1.4 (0.9) in Construction
    Services despite problems in US market
  • Capital employed further reduced
  • SEK 23.6 bn (Dec. 2003 24.5)
  • Increase of SEK 0.3 in net debt
  • Continued cautious market outlook

20
(No Transcript)
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