Year-end Report Report 2011 A1, Poland
Y Year-end Report 2011 d R t 2011 − Positive momentum in order Positive momentum in order bookings − Deliver according to business plan − Strategic investments − Profitable divestments − − Opportunities Opportunities − Order backlog − Continued high bid activity − Value creation in Commercial Property Development − Challenges Challenges − Construction Finland and Norway − Residential Development Sweden Gå Gångaren 16 (Visma), 16 (Vi ) Lindhagensterrassen Stockholm 2 February 8, 2012 Skanska Year-end Report 2011
J January − December 2011 in brief D b 2011 i b i f − Order bookings SEK 123.6 bn (130.3) − Up 41% in Q4 2011 compared to Q4 2010 − Up 20% in Q4 2011 compared to Q3 2011 − 107% book-to-build ratio − Backlog of SEK 155.7 bn represents 16 (16) months of construction construction − Revenue in Construction SEK 115.0 bn (113.2) − Up 8% in local currencies − Operating income of SEK 9.1 bn (5.3) − Gains from divestment of properties SEK 1.4 bn (0.9) − Gains from divestment of Autopista Central 4 5 bn Gains from divestment of Autopista Central 4.5 bn − Operating margin in Construction 3.0% (3.9%) 3 February 8, 2012 Skanska Year-end Report 2011
Di id Dividend d − Proposed dividend P d di id d − Regular SEK 6.00 (5.75) per share − Dividend policy: 40–70 percent of the net profit − The sale of the Autopista Central concession generated p g extra dividend of SEK 6.25 per share in 2011 4 February 8, 2012 Skanska Year-end Report 2011
C Construction t ti − Continued improvement in order situation − Mixed market sentiment − Mixed performance − Mixed performance − Good: U.S., Poland, Sweden and U.K. − Weak: Norway and Finland − Acquisitions in U.S., Poland q , and Finland, pro forma 2011 revenue of about SEK 5 bn Capital Health Healthcare R Replacement Hospital l t H it l Pennington, U.S. 5 February 8, 2012 Skanska Year-end Report 2011
N New orders in d i Construction in Q4 − Gas power plant, Rio de Janeiro, Brazil, SEK 3.2 bn − University Medical Center, New Orleans, U.S., SEK 3.0 bn − Bay Area Rapid Transit, California, U.S., SEK 2.2 bn − Railroad, Vestfold, Norway, SEK 1.6 bn − High-tech building, Western U.S., High tech building Western U S SEK 1.1 bn U i University Medical Center, it M di l C t New Orleans, U.S., 6 6 February 8, 2012 Skanska Year-end Report 2011
R Residential id ti l Development − Operating margin 4.0% (7.4) − 3 630 (4 113) homes started 3,630 (4,113) homes started − 3,193 (3,176) homes sold − Adjusting the business to prevailing market conditions − Production started and homes sold in U.K. Limhamns sjöstad, Malmö, Sweden 7 February 8, 2012 Skanska Year-end Report 2011
C Commercial Property i l P t Development − Divestments of SEK 5.0 bn − Gain SEK 1 3 bn Gain SEK 1.3 bn − 32 ongoing projects − SEK 9.1 bn total investment SEK 9 1 bn total investment value − 471,000 sq.m leasable space − 44% pre-leasing rate − 73,000 sq. m leased in Q4 − 221,000 sq.m leased in 2011 Gångaren 11, Lindhagensterrassen Stockholm 8 February 8, 2012 Skanska Year-end Report 2011
I f Infrastructure t t Development − Financial close/Investments − Croydon and Lewisham Street Croydon and Lewisham Street Lighting (Q2) − Sjisjka wind farm (Q2) − Divestments − Autopista Central, Chile (Q2) − Antofagasta (50%), Chile (Q3) − Midlothian schools, U.K (Q4) − High bid activity − Expected Financial Close Midt Midtown tunnel, U.S., H1 2012 t l U S H1 2012 Sjisjka, Gällivare, Sweden 9 February 8, 2012 Skanska Year-end Report 2011
C Construction revenue t ti from Development units Internal revenue 2011 Internal revenue 2011 SEK bn SEK bn Residential Development 4.4 Commercial Property C i l P t Development 1.8 Infrastructure Development Infrastructure Development 8 6 8.6 Total 14.8 Lustgården, Stockholm 10 February 8, 2012 Skanska Year-end Report 2011
C Construction t ti Order situation Jan–Dec Jan–Dec Jan–Dec Jan–Dec Oct–Dec Oct–Dec Oct–Dec Oct–Dec SEK bn 2011 2010 2011 2010 Revenue 115.0 113.2 33.3 30.9 Order bookings 123.6 130.3 41.0 29.0 Order backlog 155.7 145.9 Book-to-build ratio 107% 115% 123% 94% 11 February 8, 2012 Skanska Year-end Report 2011
C Construction t ti Order bookings Change Book- Jan–Dec Jan–Dec in local to-build, SEK bn 2011 2010 currency, % R-12, % Sweden Sweden 24 5 24.5 39.5 39 5 -38 38 91 91 Norway 42 17.8 12.9 142 Finland 8.4 8.7 3 103 Poland Poland 45 45 9.1 9 1 6 9 6.9 88 88 Czech Republic 6.0 6.8 -9 90 UK 9.1 15.0 -35 72 USA Building USA Building 25 9 25.9 25 6 25.6 13 13 122 122 USA Civil 13.1 7.1 105 129 Latin America 9.6 8.0 33 159 123.6 123 6 130 3 130.3 Total Total 1 1 107 107 12 February 8, 2012 Skanska Year-end Report 2011
C Construction t ti Income statement Jan–Dec Jan–Dec Oct –Dec Oct–Dec SEK bn 2011 2010 2011 2010 Revenue 115.0 113.2 33.3 30.9 9.3 2.5 Gross income 10.1 2.9 Selling and administrative expenses -5.9 -5.8 -1.7 -1.6 Operating income 3.5 4.4 0.8 1.3 Gross margin, % 8.1 9.0 7.5 9.4 Selling and admin. expenses, % -5.1 -5.1 -5.1 -5.2 Operating margin, % 3.0 3.9 2.4 4.2 13 February 8, 2012 Skanska Year-end Report 2011
C Construction t ti Operating income Operating margin SEK M % Jan–Dec Jan–Dec Jan–Dec Jan–Dec 2011 2011 2010 2010 2011 2011 2010 2010 Sweden 1,287 1,225 4.8 5.3 Norway -333 182 neg 1.6 Finland -349 -79 neg neg Poland 937 593 9.1 6.6 Czech Republic 54 397 0.8 4.6 UK 421 425 3.3 3.0 USA Building 394 418 1.8 1.8 USA Civil USA Civil 939 939 944 944 9.2 9.2 8.2 8.2 Latin America 117 284 1.9 5.0 Total 3,467 4,388 3.0 3.9 14 February 8, 2012 Skanska Year-end Report 2011
R Residential Development id ti l D l t Income statement, segment reporting Jan–Dec Jan–Dec Oct –Dec Oct–Dec SEK M 2011 2010 2011 2010 Revenue 8,550 7,581 2,518 2,392 1,030 1,095 271 307 Gross income Selling and administrative expenses -681 -589 -182 -178 Income from joint ventures and Income from joint ventures and associated companies -5 53 -2 -3 Operating income 345 559 87 126 Gross margin, % 12.0 14.4 10.8 12.9 Selling and admin. expenses, % -8.0 -7.8 -7.2 -7.2 Operating margin % Operating margin, % 4 0 4.0 7 4 7.4 3 5 3.5 5 5 5.5 15 February 8, 2012 Skanska Year-end Report 2011
R Residential Development id ti l D l t Segment reporting Operating income Operating margin SEK M % Jan–Dec Jan–Dec Jan–Dec Jan–Dec 2011 2011 2010 2010 2011 2011 2010 2010 Sweden 121 293 3.4 8.9 Norway 100 51 5.7 3.6 Finland Finland 168 168 169 169 6 3 6.3 7 1 7.1 Nordics 389 513 4.9 7.3 Czech Republic Czech Republic 3 3 46 46 0 6 0.6 9.0 9 0 Other¹ ) -47 0 - - Total 345 559 4.0 7.4 1) Start-ups − Development gain only, construction margin reported under Construction d C t ti 16 February 8, 2012 Skanska Year-end Report 2011
R Residential Development id ti l D l t Homes under Of which Completed construction sold, % unsold homes Q4, 2011 Q3, 2011 Q4, 2011 Q3, 2011 Q4, 2011 Q3, 2011 S Sweden d 2 244 2,244 1,942 1 942 57 61 61 49 49 39 39 Norway 676 524 59 69 11 1 Finland 1,906 1,844 62 63 29 33 N Nordics di 4 826 4,826 4 310 4,310 59 59 63 63 89 89 73 73 Czech Republic 534 675 48 52 95 97 Other 85 - 46 - 0 - Total 5,445 4,985 58 62 184 170 17 February 8, 2012 Skanska Year-end Report 2011
R Residential Development id ti l D l t Homes started Homes sold Jan–Dec Jan–Dec Oct–Dec Oct–Dec Jan–Dec Jan–Dec Oct–Dec Oct–Dec 2011 2011 2010 2010 2011 2011 2010 2010 2011 2011 2010 2010 2011 2011 2010 2010 Sweden 1,293 1,681 580 503 1,147 1,227 344 367 Norway 540 461 287 192 408 396 166 158 Finland Finland 1,298 1,298 1,556 1,556 321 321 530 530 1,192 1,192 1,138 1,138 284 284 300 300 Nordics 3,131 3,698 1,188 1,225 2,747 2,761 794 825 Czech Republic 414 415 0 0 407 415 46 101 Oth Other 85 85 - 85 85 - 39 39 - 39 39 - Total 3,630 4,113 1,273 1,225 3,193 3,176 879 926 18 February 8, 2012 Skanska Year-end Report 2011
R Residential Development id ti l D l t Sold and started R-12 months 5 000 4 500 4 500 4 000 Started units 3 500 Sold units 3 000 2 500 2 000 1 500 1 000 500 0 10 10 10 10 11 11 11 11 03 05 06 06 07 08 09 09 Q4 0 Q2 0 Q1 0 Q4 0 Q3 0 Q2 0 Q1 0 Q4 0 Mar June Sept 20 Dec 20 Mar 20 June 20 Sep 20 Dec 20 19 February 8, 2012 Skanska Year-end Report 2011
Number of unsold homes R Residential Development February 8, 2012 20 1 000 1,000 1,500 2,000 2,500 3,000 500 0 Q4 03 Ongoing Q4 04 id Q1 05 Q2 05 Skanska Year-end Report 2011 Q3 05 ti l D Q4 05 Completed Q1 06 Q2 06 Q3 06 Q4 06 Q1 07 Q2 07 Q3 07 l Q4 07 Q1 08 Q2 08 Q3 08 Q4 08 Q1 09 Q2 09 t Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 July 11 Aug 11 Sep 11 Oct 11 Nov 11 Dec 11 184
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