Welcome to our dedicated page for Skanska news (Ticker: SKBSY), a resource for investors and traders seeking the latest updates and insights on Skanska stock.
Skanska AB reports construction contracts, order bookings and investor communications tied to its building and civil infrastructure work in the United States and Europe. Recurring updates include road and junction upgrades, airport modernization, educational-facility renovations and other large public or institutional projects, with contract values reported in local currency and Swedish kronor.
Company news also covers interim-report presentations, capital markets events, governance matters and operating and financial results. These releases connect project awards to regional order bookings and describe the scope of work, customers, construction features and sustainability elements where disclosed.
Skanska AB reported a 10% decrease in revenue for 2020, totaling SEK 158.6 billion. However, operating income surged by 52% to SEK 11.9 billion, driven by divestment activities. Earnings per share rose 45% to SEK 22.46, while the Board proposed a dividend of SEK 9.50 per share. Operating cash flow improved to SEK 14.5 billion. Order bookings reached SEK 149.8 billion, with a backlog of SEK 178.9 billion.
Skanska has secured a contract with University of Virginia for the renovation and expansion of the Alderman library in Charlottesville, Virginia. Valued at USD 112 million (approximately SEK 990 million), this contract will be included in the US order bookings for Q4 2020. The project involves demolishing a 1967 addition and constructing a new six-story concrete framed addition while renovating the existing library to enhance infrastructure and usability. Construction commenced in January 2020 and is expected to be completed by December 2022.
Skanska has secured a contract valued at USD 91 million (approx. SEK 810 million) to design and construct an expansion of an aluminum processing facility in the Southeastern USA. The project includes an 8,000-square-meter addition and remodels of 1,900 square meters of existing space. Construction is set to commence in Q2 2021 with completion aimed for 2023. This facility will incorporate green technology, positioning it as one of the most advanced aluminum processing plants globally.
Skanska has secured a contract valued at USD 144 million (approx. SEK 1.3 billion) with Evergreen Public Schools for the construction of a new Mountain View High School in Vancouver, Washington. The project's scope encompasses the demolition of the existing structure, construction of a 26,000 square-meter building, and the development of new athletic fields and a parking lot. Construction commenced in July 2020 and is expected to conclude in December 2022. This contract will contribute to Skanska's order bookings for Q3 2020.
Skanska has signed a multi-phase contract with Flexential Corp. for the construction of the H3 - Flexential Data Center in Hillsboro, Oregon, valued at USD 64 million (approximately SEK 585 million). The first phase involves constructing a 32,500 square-meter Tier III Data Center with an initial IT capacity of 4.5 megawatts. Construction started in September 2020 and is expected to be completed by September 2021. This contract will positively impact Skanska's order bookings in the US for Q3 2020.
Skanska, in partnership with Manafort Brothers, has secured a USD 212 million contract from the Rhode Island Department of Transportation to replace a section of northbound Interstate 95 in Providence. Skanska's portion amounts to USD 106 million (approximately SEK 932 million), which will be reflected in their Q3 2020 US order bookings. The project aims to enhance traffic operations and includes bridge demolition and reconstruction. Construction commenced in July 2020 and is slated for completion by December 2024.
Skanska has sold a portfolio of five multifamily projects in Skåne, Sweden, for approximately SEK 1.5 billion to KPA Pension. The transaction will impact Skanska Sweden's residential development stream in Q3 2020. Projects include 600 apartments in Malmö, Lund, Helsingborg, and Ängelholm, emphasizing sustainability. Construction timelines are set from 2020 to 2024, with expected handover starting in Q2 2021. Skanska reported sales of around SEK 70 billion in 2019, employing over 15,200 in Nordic operations.
Skanska has secured a NOK 2.88 billion (approximately SEK 2.8 billion) contract with The Agency for Water and Wastewater Services in Oslo for preparatory work on the New Water Supply Oslo project. The contract, set to commence in September 2020 and conclude by May 2024, involves extensive tunneling and rock blasting to enhance Oslo's water supply security. This project will contribute to Skanska's Nordic order bookings in Q3 2020 and showcases the company’s robust presence in civil engineering within the Nordic region.