Skanska Three month report, 2003

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Skanska Three month report, 2003
Annika Holmgren, Bookstore Manager of
Akademibokhandeln in the newly renovated
CityCronan building
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Highlights from Q1, 2003

• Order bookings of SEK 33.7 bn
• up 10 on 2002
• Exceeds net sales for the first time in seven
  quarters
• Significant improvement in US Civil, UK, Finland
  and Norway
• Negative currency effect of 12
• EBIT of SEK 720 M (234)
• o/w gain on sale of properties 488 (40)
• Increase in net debt of SEK 0.4 bn. Pension
  liabilities increased by SEK 1.3 bn due to new
  accounting principles (RR 29)

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Performance analysis Group
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Income statement
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Balance sheet
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Change in net debt
Last day of quarter
SEK M
12,000
10,000
8,000
6,000
4,000
2,000
0
Q1
Q2
Q3
Q4
2002
2003
2001
7
Financial position update
8
Cash flow
9
Group order bookings, net sales and order backlog
SEK bn
10
Business mix in order backlog
Dec 31, 2002
Mar 31, 2003
Civil construction
Residential building
Services
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Investments by quarter
SEK M
12
Net investments by quarter
SEK M
13
Residential Project Development
14
Commercial Project Development
Land bank increase was due to internal transfer
from Construction units
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Market outlook

• Construction investments are continuing to
  decline in most markets
• Commercial and industrial construction still weak
• Civil construction expected to be stable
• Increase in Nordics, Czech Rep. and Poland. U.S.
  uncertain
• Residential construction increasing in Czech
  Rep., Finland and Russia while shrinking in
  Sweden and Norway
• Rising vacancy rates will mean lower PD activity
• Growing PFI volume in the UK

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