Review of 2010 – USD version - Skanska

Note
03 Continued
Segments, January-December 2009
The change by business stream during 2009 consists of three steps:
– Change of principles due to the introduction of IFRIC 12 and IFRIC 15, which affects the whole Group.
– The transfer from Construction to Residential Development and Commercial Property Development of the portion of Swedish construction operations that is also
affected by IFRIC 15 and the new segment reporting method. This change also resulted in effects on Group eliminations.
– The bridge from IFRIC 15 to segment reporting.
USD M
Change
According to
previous
reporting IFRIC 12 IFRIC 15
Intra-Group
transfer
Bridge to
segment
reporting
According to
new segment
reporting
Construction
Revenue 17,090.3 –56.7 3.9 17,037.5
Gross income 1,488.6 0.0 –13.6 –13.6 0.0 1,461.4
Selling and administrative expenses –829.5 4.1 –825.4
Income from joint ventures and associated companies 0.4 0.4
Operating income 659.5 0.0 –13.6 –9.5 0.0 636.4
Gross margin, % 8.7 8.6
Selling and administrative expenses, % –4.9 –4.8
Operating margin, % 3.9 3.7
Residential Development
Revenue 847.6 348.6 37.1 –378.3 855.1
Gross income 95.5 0.0 31.2 6.7 –57.9 75.5
Selling and administrative expenses –75.3 –1.8 –77.1
Income from joint ventures and associated companies –0.5 –0.5
Operating income 19.7 0.0 31.2 4.8 –57.9 –2.1
Operating margin, % 2.3 –0.2
Commercial Property Development
Revenue 542.0 60.5 44.9 –53.4 594.0
Gross income 150.7 0.0 40.4 9.1 –54.6 145.6
Selling and administrative expenses –41.4 –2.2 –43.6
Income from joint ventures and associated companies 0.0 0.0
Operating income 109.2 0.0 40.4 6.9 –54.6 101.9
Infrastructure Development
Revenue 19.7 19.7
Gross income –11.4 3.7 0.0 0.0 0.0 –7.7
Selling and administrative expenses –20.3 –20.3
Income from joint ventures and associated companies 16.6 35.8 52.4
Operating income –15.0 39.5 0.0 0.0 0.0 24.4
Central and eliminations
Revenue –623.9 –49.1 –86.0 –759.0
Gross income –4.2 8.5 1.7 –2.2 0.0 3.8
Selling and administrative expenses –89.1 –89.1
Income from joint ventures and associated companies 2.2 –1.7 0.5
Operating income –91.1 6.8 1.7 –2.2 0.0 –84.8
Group
Revenue 17,876 303 18,179 –432 17,747
Gross income 1,719 12 60 1,791 –113 1,679
Selling and administrative expenses –1,056 –1,056 –1,056
Income from joint ventures and associated companies 19 34 53 53
Operating income 682 46 60 788 –113 676
Net financial items –26 –4 –30 –30
Income after financial items 656 46 56 758 –113 645
Taxes –182 –10 –14 –206 31 –176
Profit for the year 474 36 42 552 –82 470
Earnings per share for the year after repurchases
and conversion, USD 1.14 1.33 1.13
Return on equity, % 18.6 22.3 19.4
Skanska Review of 2010 – USD version Notes, including accounting and valuation principles 105