Skanska Stock Price, News & Analysis

Skanska has sold the office building Two Drydock in Boston for USD 234.5 million (approximately SEK 2.0 billion). The transaction will be reflected in Skanska USA's fourth-quarter results for 2021. Two Drydock, a 13-story Class-A office building, offers 21,800 square meters of space with LEED Gold and Fitwel certifications. This sale marks Skanska's continued investment in sustainable developments, having invested USD 3.2 billion since 2009 in projects across the U.S.

Skanska has secured a contract worth SEK 1.2 billion with The Stockholm Regional Council for the construction of a new metro stage in Nacka, Sweden. The project involves a 1,200-meter tunnel, platform space, and two ticket halls for Nacka station, part of the Blue Line extension. Construction is set to begin in the first quarter of 2022 and is expected to finish by the first quarter of 2026. The project prioritizes climate impact minimization and aims for a CEEQUAL environmental rating of 'Very Good.'

Skanska AB reported a revenue of SEK 103.2 billion, a decline of 6% when adjusted for currency effects. Operating income rose to SEK 6.2 billion, marking a 21% increase, while earnings per share was SEK 12.35. Operating cash flow decreased significantly to SEK 1.7 billion from 4.9 billion. Order bookings in Construction increased by 6% to SEK 111.3 billion, with an order backlog of SEK 197.6 billion. Operating income in Construction was SEK 3.4 billion, representing an operating margin of 3.6%.

Skanska has announced a significant investment of USD 128M (approximately SEK 1.1 billion) in the OZMA multi-family development project located in Washington, DC. The construction contract, worth USD 96M (about SEK 800M), will contribute to the US order bookings for Q3 2021. The project will feature a 13-story building with 275 units, including 5,200 square meters of amenities and 2,400 square meters of retail space. Construction begins in October 2021, with completion slated for 2024.

Skanska is divesting a portfolio of six logistics projects in Sweden to Barings, valuing the first phase at SEK 1.1 billion. The initial transfer includes two projects, scheduled for completion in 2022 and 2023. The entire portfolio spans approximately 128,000 square meters across cities like Stockholm, Gothenburg, Malmö, and Helsingborg. The subsequent phase, valued at SEK 1.0 billion, will be recorded in 2022. All projects are designed with a green profile, set to meet 'GreenBuilding' certification standards.

Skanska has secured a contract worth USD 159M for corporate office improvements in the western USA, with their share totaling USD 80M (approximately SEK 680M). This contract will contribute to the US order bookings for Q3 2021. Construction is currently underway and is set to be completed by December 2023. In 2020, Skanska USA reported sales of SEK 66 billion and employed around 7,600 people, solidifying its position as a leading player in the construction and project development sector in the U.S.

Skanska has secured a USD 82M contract from the Florida Department of Transportation to design and construct a new interchange at Interstate 75 and Big Bend Road in Hillsborough County, Florida. This project, expected to enhance traffic flow, involves widening Big Bend Road and reconfiguring I-75 ramps. Construction commenced in August 2021 and is projected to conclude by August 2024. The contract will be included in Skanska's US order bookings for Q3 2021.

ÖSTERSUND, Sweden, Sept. 16, 2021 /PRNewswire/ -- Skanska has revised its climate target to a 70% reduction in its own carbon emissions by 2030, up from a previous target of 50%. This change reflects the urgency for greater efforts towards a carbon-neutral society. Skanska achieved a 40% reduction in emissions compared to 2015, contributing to an increase in revenue during the same period. The firm aims for net-zero emissions by 2045, with additional initiatives for sustainable construction and climate-smart solutions.

Skanska has secured a USD 96M contract with the San Gabriel Valley Council of Governments for the Fullerton Road Grade Separation Project in California. The project aims to lower Fullerton Road beneath existing railroad tracks and includes constructing a six-lane underpass and a bridge spanning Fullerton Road. Construction is set to begin in Q3 2021, with completion expected by Q4 2024. This contract will contribute to Skanska's US order bookings for the third quarter of 2021.