Skanska Affirms Financial Targets at Capital Markets Day in London

Skanska Affirms Financial Targets at Capital Markets Day in London

(IN BRIEF) Skanska, a construction and development company, reaffirmed its existing financial targets during its Capital Markets Day in London. The Group President and CEO, Anders Danielsson, provided an update on the business strategy and commercial direction moving forward. Skanska highlights its successful efforts in strengthening profitability in the Construction stream and its financial strength as it navigates cyclical property markets in Project Development. The company maintains its financial targets, including an operating margin of ≥3.5% for the Construction stream, a return on capital employed of ≥10% for Project Development streams, a return on capital employed of ≥6% for Investment Properties, and a return on equity of ≥18% for the Group. Additionally, Skanska sets an adjusted net debt limit of SEK -10 billion and a pay-out ratio of 40-70% for the Group.

(PRESS RELEASE) STOCKHOLM, 22-Nov-2023 — /EuropaWire/ — Skanska reiterates its existing financial targets during the Capital Markets Day in London, where the Group President and CEO Anders Danielsson will present an update on the business strategy and the commercial direction going forward.

“We have been on a successful journey strengthening the profitability in our Construction stream. We now have a diversified and stable construction business with a strong and sustainable performance. As a Group, we are financially strong, which means that we own our own decisions when navigating cyclical property markets in Project Development. The build-up of our own portfolio in Investment Properties is developing very well”, says Anders Danielsson.

Group financial targets reiterated:
• Construction stream, Operating margin: ≥3.5%
• Project Development streams, Return on capital employed: ≥10%
• Investment Properties, Return on capital employed: ≥6%
• Group, Return on equity: ≥18%
• Group, Adjusted net debt limit: SEK -10 bn
• Group, Pay-out ratio: 40-70%

The presentations will be held during the afternoon, starting at 1 pm GMT/2 pm CET. To join the Capital Markets Day virtually please click here. The recorded material will be shared afterwards.

This and previous releases can also be found at www.skanska.com.

Skanska Group uses knowledge & foresight to shape the way people live, work, and connect. Over 135 years in the making, we’re one of the world’s largest project development and construction companies, with 2022 revenue totaling SEK 162 billion.

We operate across select markets in the Nordics, Europe, and USA. Together with our customers and the collective expertise of our 28,000 teammates, we create innovative and sustainable solutions that support healthy living beyond our lifetime.

Media Contacts:

Antonia Junelind
SVP Investor Relations
Skanska AB
Tel: +46 (0)10 448 62 61

Jacob Birkeland
Head of Media Relations and Public Affairs
Skanska AB,
Tel: +46 (0)10 449 04 94

Direct line for media
Tel: +46 (0)10 448 88 99

SOURCE: Skanska