Skanska’s year-to-date revenues rise

An increase in Skanska’s group year-to-date revenues of 3% to SEK 97.6 billion (€10.59 billion) has bolstered its third quarter statement.

The Swedish-based contractor has also recorded a 19% upturn in its order book, which stood at SEK86.5 billion (€9.38 billion).

There has been a 20% growth in the company’s construction revenues to SEK3.06 billion (€330 million), which made up the bulk of its operations. Group profit margins for Skanska increased 1% year to date with figures of SEK2.41 billion (€261 million).

In September, the company was named as the preferred contractor for €753 million UK project regenerating the Battersea Power Station building in London.

It also achieved a €111 million deal for hospital facilities at Uppsala, Sweden, and engaged in a €624 million project to provide onshore wind schemes within the UK over the next five years.

The firm’s infrastructure development also showed growth, rising 11% to SEK361 million (€39.15 million), though its overall operating income fell by 1% to SEK 3.45 billion (€370 million).

CEO Johan Karlstrom said, “In the third quarter we continued to deliver strong order bookings, increased revenues and operating income grew by 27%, as we realized impressive development gains. This contributed to a solid cash flow during the quarter, further improving the financial position of the group.

“The positive development in the construction business stream continues, with strong order bookings and growth in revenues. Order bookings were especially strong in the Swedish, U.S civil, UK and Polish construction operations during the third quarter. The operating margin increased due to the very strong performance in the Swedish, Finnish and Polish operations.”