This Is Skanska Addresses

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This Is Skanska Addresses SKANSKA ANNUAL REPORT 2006 ANNUAL REPORT 2006 This is Skanska Addresses Skanska is one of the world’s largest construction companies, with a leading position in a number of home Skanska AB Skanska Czech Republic Skanska Residential Development Nordic SE-169 83 Solna Kubánské námestí 1391/11 SE-169 83 Solna markets in Europe, the United States and Latin America. Skanska also carries out project development in Sweden CZ-100 05 Prague 10 Sweden Street address: Råsundavägen 2 Czech Republic Street address: Råsundavägen 2 selected geographic markets in the residential and commercial property fields, as well as in infrastructure Tel: +46 8 753 88 00 Tel: +420 2 67 310 476 Tel: +46 8 504 350 00 Fax: +46 8 755 12 56 Fax: +420 2 67 310 644 Fax: +46 8 504 361 99 by means of public-private partnerships. Skanska focuses on finding innovative solutions through close www.skanska.com www.skanska.cz www.skanska.com/residentialnordic collaboration with its customers and by combining the Group’s international expertise with a local presence. Skanska Sweden Skanska UK Skanska Commercial Development Nordic The Skanska Group has 56,000 employees, and in 2006 its revenue totaled SEK 126 billion. SE-169 83 Solna Maple Cross House SE-169 83 Solna Sweden Denham Way, Maple Cross Sweden Street address: Råsundavägen 2 Rickmansworth Street address: Råsundavägen 2 Tel: +46 8 504 350 00 Hertfordshire WD3 9SW Tel: +46 8 504 350 00 Fax: +46 8 755 63 17 United Kingdom Fax: +46 8 504 361 99 Customer service: 020-30 30 40 (from inside Tel: +44 1923 776 666 www.skanska.se/fastigheter Skanska in 2006 Sweden only) Fax: +44 1923 423 900 www.skanska.se www.skanska.co.uk Skanska Commercial Development Europe SE-169 83 Solna Skanska Norway Skanska USA Building Sweden • Construction showed an improved operating margin overall, with good earnings and margins in Sweden, Postbox 1175 Sentrum 1633 Littleton Road Street address: Råsundavägen 2 Norway, Poland, the United Kingdom and Latin America as well as improved earnings and margins in the NO-0107 Oslo Parsippany, NJ 07054 Tel: +46 8 504 350 00 Norway U.S.A. Fax: +46 8 504 361 99 United States Street address: Drammensveien 60 Tel: +1 973 753 3500 www.skanska.com/property Tel: +47 40 00 64 00 Fax: +1 973 753 3499 Fax: +47 23 27 17 30 www.skanska.com Skanska Infrastructure Development • Residential Development showed profitable growth in a strong Nordic housing market www.skanska.no SE-169 83 Solna Skanska USA Civil Sweden • Commercial Development benefited from continued healthy demand for completed projects from financial Skanska Denmark 16-16 Whitestone Expressway Street address: Råsundavägen 2 Baltorpvej 158 Whitestone NY 11357 Tel: +46 8 504 350 00 investors, while the demand for new premises by the business sector and public agencies increased DK-2750 Ballerup U.S.A. Fax +46 8 755 13 96 Denmark Tel: +1 718 747 34 54 www.skanska.com/id Tel: +45 44 77 99 99 Fax: +1 718 747 34 58 • The Infrastructure Development project portfolio gained a major addition due to a large new hospital Fax: +45 44 77 98 99 www.skanska.com Skanska Financial Services www.skanska.dk SE-169 83 Solna project in the United Kingdom and had good overall value growth during the year Skanska Latin America Sweden Skanska Finland Av. Pte. Roque S. Peña 555-8 Piso Street address: Råsundavägen 2 P.O.Box 114 C1035AAA Buenos Aires Tel: +46 8 504 350 00 FI-00101 Helsinki Argentina Fax: +46 8 753 18 52 Finland Tel: +54 11 4341 7000 www.skanska.com Resultat och utdelning per aktie Street address: Paciuksenkatu 25 Fax: +54 11 4341 7503 Kr Tel: +358 9 6152 21 www.skanska.com.ar Skanska Project Support 10 Fax: +358 9 6152 2271 SE-169 83 Solna www.skanska.fi Sweden 8 Street address: Råsundavägen 2 6 Skanska Poland Tel: +46 8 504 350 00 Gen. J. Zajaczka 9 Fax: +46 8 753 48 42 4 PL-01-518 Warsaw www.skanska.com/projectsupport Poland 2 Tel: +48 22 561 3000 0 Fax: +48 22 561 3001 For other addresses: www.skanska.pl www.skanska.com –2 –4 2002 2003 2004 2005 20061) • Resultat per aktie • Utdelning per aktie • Extrautdelning per aktie 1) Styrelsens förslag Greater industrialization is a key factor in improving quality, safety and profitability. Here the Clarion Hotel is being built at Norra Bantorget in downtown Stockholm. Highlights Earnings and dividend per share SEK SEK M EUR M 10 Revenue 125,603 13,574 8 Operating income 4,762 515 6 Income after financial items 4,985 539 4 Earnings per share SEK/EUR 8.68 0.94 2 Return on equity, % 19.3 19.3 0 Return on capital employed, % 22.5 22.5 –2 1 Order bookings 134,125 14,495 –4 2002 2003 2004 2005 20061 1 Order backlog 135,106 14,942 • Earnings per share • Dividend per share • Extra dividend per share 1 Refers to Construction operations 1 Proposed by the Board of Directors Earnings and dividend per share USD 1.4 1.2 1.0 0.8 0.6 0.4 0.2 0.0 –0.2 –0.4 2002 2003 2004 2005 20061 • Earnings per share • Dividend per share • Extra dividend per share 1 Proposed by the Board of Directors Earnings and dividend per share EURO 1.2 1.0 0.8 0.6 0.4 0.2 0.0 –0.2 –0.4 2002 2003 2004 2005 20061 • Earnings per share • Dividend per share • Extra dividend per share 1 Proposed by the Board of Directors Business streams and organization Contents Skanska Financial Services GROUP OVERVIEW Group staff units Senior Executive Team 1 Business streams and organization Skanska Project Support 2 Comments by the President and CEO 4 Mission, vision, goals and strategy 7 Financial targets Construction Residential Commercial Infrastructure Development Development Development 8 Risk management 10 Human resources Skanska Sweden Skanska Residential Skanska Commercial Skanska Infrastructure 12 Share data Skanska Denmark Development Nordic Development Nordic Development Skanska Finland BUSINESS STREAMS Skanska Norway 14 Construction 24 Residential Development Skanska Poland 30 Commercial Development Skanska Czech Republic Skanska Commercial 38 Infrastructure Development Skanska UK Development Europe Skanska USA Building 46 SUSTAINABLE DEVELOPMENT Skanska USA Civil 47 The environmental challenge 50 Sustainability in action Skanska Latin America 53 REPORT OF THE DIRECTORS 62 Consolidated income statement Construction refers to The Residential Commercial Development In Infrastructure 63 Consolidated balance sheet building construction Development business initiates, develops, leases and Development, Skanska 64 Consolidated statement of recognized (both non-residential stream initiates and divests commercial property develops and invests income and expenses and residential) and civil develops residential projects projects, with a focus on office in privately financed 65 Consolidated cash flow statement construction. It is Skanska’s for sale. Housing units buildings, shopping malls and infrastructure projects such 66 Parent Company income statement largest business stream. are tailored for selected logistics properties. as roads, hospitals, schools 67 Parent Company balance sheet The Construction customer categories. The business stream and power generating plants. 68 Parent Company changes in equity business stream operates Skanska is one of works through two The business stream through ten business units the leading residential business units: Skanska focuses on creating new in selected home markets – developers in the Nordic Commercial Development potential for projects in 69 NOTES, TABLE OF CONTENTS Sweden, Norway, Denmark, countries and also has a Nordic in Stockholm, markets where Skanska has 131 Proposed allocation of earnings Finland and Estonia, sizeable presence in the Gothenburg, Öresund construction business units. 132 Auditors’ Report Poland, the Czech Republic Czech Republic. The business (Malmö/Copenhagen) as It works through the Skanska and Slovakia, the United stream operates through its well as in Helsinki; Skanska Infrastructure Development CORPORATE GOVERNANCE Kingdom, the United States own Nordic business unit Commercial Development business unit. 133 Corporate governance report and Latin America. and as part of Construction Europe in Warsaw, Wrocław, 137 Senior Executive Team in the Czech Republic. Prague and Budapest. 138 Board of Directors Revenue, SEK M 118,710 Revenue, SEK M 6,788 Revenue, SEK M 3,425 Revenue, SEK M 151 Share of Group 92% Share of Group 5% Share of Group 3% Share of Group 0% 140 Annual Shareholders’ Meeting 141 More information about Skanska 142 Abbreviations 143 Definitions Operating income, SEK M 3,336 Operating income, SEK M 852 Operating income, SEK M 1,210 Operating income, SEK M –8 Share of Group 62% Share of Group 16% Share of Group 22% Share of Group 0% This document is in all respects a translation of the Swedish original Annual Report. In the event of any differences between this translation and the Swedish original, the latter Revenue by shall prevail. geographic area % Norway Finland Sweden 21 United Kingdom Estonia Other Nordic United States countries 20 Sweden Denmark Other European Poland countries 25 Czech Republic Slovakia United States 30 The new Rica Hotel rises 18 stories Latin America Hungary above Stockholm International Other markets 4 Fairs. The building is 14,800 sq. m (159,00 sq. ft.) in all. The hotel, with 248 rooms including suites, was completed in 2006. Skanska Annual Report 2006 1 Comments by the President and CEO With nine of Skanska´s fourteen business units achieving or exceeding their 2006 “Outperform” targets, and with continued favorable market conditions, we are in a good position to achieve our long-range “Outperform” targets in 2007. In 2006 all of our four business streams performed well, with the over 2005. Operation margin increased to 12.6 percent and return three development streams – Residential, Commercial and Infra- on capital employed to 27.5 percent.
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