Strong first half for Skanska

By Sarah McCay18 July 2014

Skanska has posted increases in order bookings and backlog for the first half of this year, up to June 30, 2014.

The Sweden-based contractor saw order bookings in construction total SEK 70.4 billion (€7.63 billion), up from SEK 60.3 billion (€6.53 billion) for the first half of 2013. Adjusted for currency effects, the firm said order bookings increased by +16%.

Skanska’s order backlog also swelled, achieving SEK 155.4 billion (€16.8 billion), up from SEK 145.7 billion (€15.8 billion) at the end of the first quarter 2014. Adjusted for currency effects, the order backlog increased by +4%.

However, operating income dropped -22%, to SEK 1.6 billion (€175 million), down from SEK 2 billion (€215 million) in 2013. This included writedowns and restructuring provisions in the Latin American operations of SEK 500 million (€54 million) in the second quarter.

Revenue was also marginally down, at SEK 62.4 billion (€6.76 billion), -1% on 2013’s figure of SEK 62.8 billion (€6.8 billion).

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