Review of 2010 – USD version - Skanska

34 Effect of changes in foreign exchange rates Closing day exchange rate Change in percent
Note
Exchange rates are dealt with in compliance with IAS 21, “The Effect of Changes in Foreign Exchange Rates.” See “Accounting and valuation
principles,” Note 1.
Average exchange rate Change in percent
Currency Country/zone 2010 2009 2008 2009–2010 2008–2009
ARS Argentina 0.256 0.269 0.316 –5 –15
CZK Czech Republic 0.052 0.053 0.059 0 –10
DKK Denmark 0.178 0.186 0.196 –5 –5
EUR EU euro zone 1.325 1.388 1.461 –5 –5
GBP United Kingdom 1.544 1.558 1.835 –1 –15
NOK Norway 0.165 0.159 0.177 4 –10
PLN Poland 0.332 0.321 0.416 3 –23
SEK Sweden 0.139 0.131 0.152 6 –14
Currency Country/zone 2010 2009 2008 2009–2010 2008–2009
ARS Argentina 0.251 0.262 0.291 –4 –10
CZK Czech Republic 0.052 0.054 0.053 –4 2
DKK Denmark 0.178 0.193 0.190 –8 1
EUR EU euro zone 1.325 1.433 1.417 –8 1
GBP United Kingdom 1.544 1.585 1.449 –3 9
NOK Norway 0.170 0.172 0.143 –1 20
PLN Poland 0.334 0.347 0.341 –4 2
SEK Sweden 0.147 0.139 0.129 6 7
Income statement
During the year, the average USD exchange rate weakened against NOK, PLN and SEK and strengthened against the Group's
other currencies.
Revenue was positively affected in the amount of USD 293.1 M due to exchange rate differences.
Adjusted for currency rate effects, revenue decreased by 8 percent.
Currency rate effect by respective currency
2010 SEK EUR GBP NOK CZK PLN Other Total
Revenue 242.6 –53.4 –18.0 62.1 –2.9 40.1 22.6 293.1
Operating income 21.8 0.2 –0.5 0.5 –0.1 2.6 –2.2 22.3
Income after financial items 21.6 0.3 –0.6 1.1 –0.1 2.8 –1.1 24.0
Profit for the year 18.5 0.4 –0.5 0.7 –0.1 2.3 –0.3 21.0
2009 SEK EUR GBP NOK CZK PLN Other Total
Revenue –602.3 –63.7 –426.9 –182.5 –196.9 –285.2 –84.6 –1,842.1
Operating income –43.9 –1.6 –10.8 –6.6 –11.0 –13.0 –2.3 –89.2
Income after financial items –42.4 –1.5 –10.3 –7.7 –10.9 –14.4 1.7 –85.5
Profit for the year –38.1 –1.4 –6.7 –5.7 –8.2 –11.5 1.6 –70.0
Statement of financial position
On the closing day, the US dollar had strengthened against all other Group currencies except the SEK.
The Group's total assets and liabilities/equity decreased by USD 230.3 M to USD 11,423.2 M (11,653.5). Of the overall decrease,
USD 208.1 M consisted of exchange rate effects. Adjusted for exchange rate effects, the total decreased by 0.2 percent.
140 Notes, including accounting and valuation principles Skanska Review of 2010 – USD version