Skanska: Interim report, first quarter 2024

Rhea-AI Summary

Skanska reported strong financial results for the first quarter of 2024, with revenue reaching SEK 36.4 billion and operating income at SEK 0.5 billion. Adjusted for currency effects, revenue increased by 5 percent. Earnings per share stood at SEK 1.28. Order bookings in Construction surged to SEK 46.9 billion, representing an 83 percent increase quarter on quarter. The company achieved a historic high order backlog, resulting in a promising outlook for future growth.

Positive

• Revenue increased by 5 percent when adjusted for currency effects

• Order bookings in Construction rose to SEK 46.9 billion, an 83 percent increase quarter on quarter

• Historic high order backlog indicates strong future growth prospects

Negative

• Operating income in Project Development was negative at SEK -0.1 billion

• Return on capital employed in Project Development was -3.1 percent

STOCKHOLM, May 8, 2024 /PRNewswire/ -- 

Highlights according to segment reporting

• Revenue amounted to SEK 36.4 billion (34.9); adjusted for currency effects, revenue increased 5 percent.
• Operating income amounted to SEK 0.5 billion (0.4); adjusted for currency effects, operating income increased 32 percent.
• Earnings per share amounted to SEK 1.28 (1.04).
• Operating cash flow from operations amounted to SEK -4.9 billion (-2.3) for the period according to IFRS.
• Adjusted interest-bearing net receivables(+)/net debt(-) totaled SEK 4.6 billion (December 31, 2023: 10.4).
• Order bookings in Construction amounted to SEK 46.9 billion (25.8). Adjusted for currency effects, order bookings quarter on quarter increased 83 percent. Rolling 12-month book-to-build ratio was 117 percent (99) with the order backlog reaching a historic high.
• Operating income in Construction amounted to SEK 0.7 billion (1.0), representing an operating margin of 1.8 percent (2.8).
• Operating income in Project Development amounted to SEK -0.1 billion (-0.5).
• Return on capital employed in Project Development was -3.1 percent (4.5).
• Return on equity was 5.9 percent (13.0).

This report will also be presented at a press and audio conference at 10:00 CET on May 8, 2024.

The press conference will be webcast live at www.skanska.com/investors, where a recording of the conference will also be available later.

Participate in the audio conference, with the possibility to ask questions. Preferred connection (web link), for best audio quality, please join the call from your phone via the HD Audio web link here: HD Audio link. If you need to call in via telephone line please dial +46 (0) 8 5051 0031; +44 (0)207 107 06 13 or +1 (1) 631 570 56 13.

This and previous releases can also be found at www.group.skanska.com/investors.

This is information that Skanska AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the Senior Vice President Investor Relations set out below, at 07:30 CET on May 8, 2024.

For further information, please contact:
Magnus Persson, Executive Vice President and CFO, Skanska AB, tel +46 10 448 8900
Antonia Junelind, Senior Vice President, Investor Relations, Skanska AB, tel +46 10 448 6261
Karolina Cederhage, Senior Vice President, Communications, Skanska AB, tel +46 10 448 0880
Jacob Birkeland, Head of Media Relations and Public Affairs, Skanska AB, tel +46 10 449 1957

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/skanska/r/interim-report--first-quarter-2024,c3975305

The following files are available for download:

https://mb.cision.com/Main/95/3975305/2784524.pdf

Skanska Q1 2024 ENG

 

View original content:https://www.prnewswire.com/news-releases/skanska-interim-report-first-quarter-2024-302139270.html

SOURCE Skanska

FAQ

What was Skanska's revenue for the first quarter of 2024?

Skanska's revenue for the first quarter of 2024 amounted to SEK 36.4 billion.

What were Skanska's earnings per share for the first quarter of 2024?

Skanska's earnings per share for the first quarter of 2024 were SEK 1.28.

How much did the order bookings in Construction increase by for Skanska in the first quarter of 2024?

Skanska's order bookings in Construction surged by 83 percent to SEK 46.9 billion in the first quarter of 2024.

What was the operating income in Project Development for Skanska in the first quarter of 2024?

Skanska reported a negative operating income of SEK -0.1 billion in Project Development for the first quarter of 2024.

What was the return on capital employed in Project Development for Skanska in the first quarter of 2024?

The return on capital employed in Project Development for Skanska was -3.1 percent in the first quarter of 2024.