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Skanska reports first quarter 2023 results

Revenue for the quarter amounted to SEK 34.9 billion (37.8); adjusted for currency effects, revenue decreased 13 percent.

Operating income amounted to SEK 0.4 billion (1.9); adjusted for currency effects, operating income decreased 81 percent. Operating income in Residential Development was impacted by low sales volumes and a negative result of SEK -331 M in BoKlok related to the weak market and turnaround measures. In Commercial Property Development, no significant transactions were recorded in the first quarter.

Earnings per share amounted to SEK 1.04 (3.62).

Operating cash flow from operations amounted to SEK -2.3 billion (-2.8) according to IFRS.

Adjusted interest-bearing net receivables(+)/net debt(-) totaled SEK 9.5 billion (December 31, 2022: 12.1).

Order bookings in Construction amounted to SEK 25.8 billion (30.0). Adjusted for currency effects, order bookings quarter over quarter decreased 18 percent. Rolling 12-month book-to-build ratio was 99 percent (109).

Operating income in Construction amounted to SEK 1.0 billion (0.8), representing an operating margin of 2.8 percent (2.3).

Operating income in Project Development amounted to SEK -0.5 billion (1.3).

Return on capital employed in Project Development was 4.5 percent (10.8).

Return on equity was 13.0 percent (18.4).



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