SKANSKA AB S/ADR - SKBSY STOCK NEWS

Skanska has announced the divestment of its C.F. Møllers Have multi-family rental property in Copenhagen, Denmark, to Home.Earth Group Holding A/S for DKK 520M (SEK 800M). The transaction will be recorded in Q4 2024, with property transfer scheduled for January 31, 2025.

The property, located in Ørestad near the metro line, spans 12,000 square meters and features 156 fully-leased rental apartments and two commercial spaces. Completed in December 2023, the DGNB Gold-certified building includes amenities such as a shared courtyard, orangery, and private balconies or terraces. The development also includes an underground bicycle parking and a 30-year lease agreement with By & Havn for 125 public parking spaces.

Skanska has secured a USD 450M (SEK 4.7 billion) contract with Massachusetts Port Authority for significant improvements at Boston's Logan Airport. The project, part of Massport's NCEC Program, includes constructing a new 67,400 square meter Terminal E Parking Garage with 5,000 parking spaces. The development features vehicular and pedestrian bridge connections, roadway modifications, and sustainable elements including solar PV panels. Construction will commence in Q1 2025 with completion expected in 2028. The contract value will be recorded in US order bookings for Q4 2024.

Skanska has announced the divestment of its rental residential project Arkaden in Lund, Sweden, to LF Skåne Hyresfastigheter for approximately SEK 520M. The project comprises 139 rental apartments and a grocery store, with about 11,000 square meters of leasable space. The transaction will be recorded in Q4 2024, with ownership transfer scheduled for Q2 2027. The construction contract, valued at SEK 340M, will be included in Skanska Sweden's Q4 2024 order bookings.

Located in Råbylund, about three kilometers from Lund's city centre, the project will be 20% more energy efficient than standard requirements, achieving energy class B. Construction is set to begin in spring 2025 with completion planned for Q2 2027.

Skanska (SKBSY) has announced its upcoming Capital Markets Day, scheduled for November 18, 2025, to be held in Seattle, Washington state, USA. The event will welcome investors, analysts, and financial media representatives. Registration details and a comprehensive agenda will be made available closer to the event date on the company's investor relations website. The company has provided contact information for investor relations, communications, and media inquiries for those seeking additional information.

Skanska is investing SEK 530M in the Mandelblomman residential project in Täby Park, Stockholm. The project includes 156 apartments ranging from one to five rooms, 75 parking spaces, and two premises. The construction contract is valued at SEK 350M and will be included in Q4 2024 bookings. The building features sustainable elements including solar cells covering 55% of the roof, climate-improved concrete, and energy usage 15% below regulatory requirements. The project will be Nordic Ecolabel certified and includes innovative battery storage generating income for the condominium association. Construction begins December 2024 with completion expected between summer 2026 and April 2027.

Skanska reported strong Q3 2024 results with revenue reaching SEK 42.8 billion, a 9% increase adjusted for currency effects. Operating income rose significantly to SEK 1.3 billion, showing a 138% increase. Construction segment performed well with operating income of SEK 1.5 billion and a 3.6% margin. Order bookings surged 63% to SEK 50.8 billion with a book-to-build ratio of 124%. However, Project Development faced challenges with SEK -0.3 billion operating income and negative returns due to weak property markets. Operating cash flow improved substantially to SEK 6.2 billion, while earnings per share increased to SEK 2.28.

Skanska has secured a USD 435 million contract with Lee Health to construct a new hospital and medical office building in Fort Myers, Florida. The project encompasses a 38,600 square meter five-story hospital, a central energy plant, and a 11,600 square meter medical office building with an ambulatory surgery center. The facility will feature multiple operating rooms, a rehabilitation gymnasium, and specialty clinics for orthopedics, spine, rheumatology care, and infectious diseases. Construction has begun with utility work, and the project is set for completion in Q4 2027.

Skanska has secured an additional contract worth USD 153 million (approximately SEK 1.6 billion) with Columbia Memorial Hospital for a hospital expansion project in Astoria, Oregon, USA. This contract will be included in the US order bookings for Q4 2024. The project involves a four-story, 16,900 square meter expansion to the existing hospital, featuring an enlarged emergency department, improved operating rooms, and larger patient rooms.

Earlier in 2024, Skanska signed an initial contract for this project valued at USD 74 million, bringing the total contract value to USD 227 million (about SEK 2.4 billion). The expansion aims to enable Columbia Memorial Hospital to offer new services and cutting-edge medical technology. Construction began on September 6, 2024, with an expected completion date in November 2027.

Skanska has signed a USD 54 million (SEK 570 million) contract with Harris Health System to construct a new healthcare building in Houston, Texas. The project, which will be included in the US order bookings for Q3 2024, involves building a four-story facility to house the Harris Health Central Fill Pharmacy and associated departments. The new structure will also include flexible spaces on the first two levels for future expansion of clinical areas.

Construction is scheduled to begin in November 2024 and is expected to be completed by May 2026. This strategic project aims to enhance healthcare services and adapt to evolving needs in the future.