Review of 2010 â USD version - Skanska

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Independent Auditor’s Report To the Board of Directors of Skanska AB (publ) Corporate identity number 556000–4615 We have audited the consolidated financial statements of Skanska AB (publ) on pages 83–156, which comprise the statement of financial position at December 31, 2010, and the income statement, statement of comprehensive income, statement of changes in equity and cash flow statement for the year then ended, and a summary of significant accounting policies and other explanatory notes. Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with International Financial Reporting Standards as adopted by the EU, and for such internal control as management determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error. Auditors' Responsibility Our responsibility is to express an opinion on these consolidated financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the consolidated financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide bases for our audit opinion. Opinion In our opinion, the consolidated financial statements give a true and fair view of the financial position of Skanska AB (publ) as of December 31, 2010, and of its financial performance and its cash flows for the year then ended in accordance with International Financial Reporting Standards as adopted by the EU. Stockholm, April 1, 2011 KPMG AB George Pettersson Authorized Public Accountant 158 Independent Auditors´ Report Skanska Review of 2010 – USD version
Skanska Review of 2010 – USD version 159
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Review of 2010 - USD version
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The Skanska Group Senior Executive
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United States 28% Business streams:
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Johan Karlström, Skanska’s Presi
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Our new office building projects ar
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Skanska’s core businesses Constru
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Profitable growth 2011-2015 Skanska
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Performance analysis The Group Reve
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Capital structure Capital requireme
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projects during tender preparation
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Green Refurbishment for value-secur
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Evaluating managers To provide a be
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Skanska share price movement, Janua
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Construction 25 Aviation hangar bec
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increase due to stricter energy and
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In August, a milestone breakthrough
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The London skyline has reached a ne
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Skanska Review of 2010 - USD versio
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and Texas and all the way west to C
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Residential Development 37 New home
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Stavanger, on the southern coast of
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In Ellös on the isle of Orust alon
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Ullstorps Gårdar — Country life
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0,6 Commercial Property Development
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The City Green Court office buildin
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Green Lustgården started Poland -
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1 4 5 5 Illustration Tyfonen Illust
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Infrastructure Development 55 New K
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At the end of 2010, Skanska signed
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To win the New Karolinska Solna pro
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Two London hospitals, Barts and the
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Skanska Review of 2010 - USD versio
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Sustainable development 64 Blå Jun
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Safety starts with planning Skanska
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The Skanska Color Palette TM is now
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Sustainable procurement Over 80 per
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Skanska Financials 2010 The financi
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North America and Latin America Dur
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Earnings per share USD 1.6 Investme
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Material risks and uncertainty fact
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The members and deputy members of t
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Skanska’s management structure Se
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the World Business Council for Sust
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Consolidated income statement USD M
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Consolidated statement of financial
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Consolidated statement of changes i
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Consolidated operating cash flow st
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Note 01 Consolidated accounting and
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Note 01 Continued IFRS 5, “Non-cu
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Note 01 Continued Further expenditu
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Note 01 Continued The obligation is
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Infrastructure Development Skanska
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Note 03 Continued Statement of comp
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Note 03 Continued Operating cash fl
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Note 03 Continued Segments, January
Page 111 and 112: Note 04 Continued Construction Resi
Page 113 and 114: Note 04 Continued External revenue
Page 115 and 116: Note 06 Continued earnings and cash
Page 117 and 118: Note 06 Continued The role of finan
Page 119 and 120: Note 06 Continued Reconciliation wi
Page 121 and 122: Note 06 Continued Collateral The Gr
Page 123 and 124: Note 12 Depreciation/amortization D
Page 125 and 126: Note Not 16 Income taxes 14 Net fin
Page 127 and 128: Note 17 Property, plant and equipme
Page 129 and 130: Note 18 Continued Goodwill impairme
Page 131 and 132: Note 20 Continued Specification of
Page 133 and 134: Note 22 Current-asset properties/Pr
Page 135 and 136: Note 26 Equity/earnings per share I
Page 137 and 138: Note 27 Financial liabilities Finan
Page 139 and 140: Note 28 Continued Actuarial assumpt
Page 141 and 142: Note 31 Specification of interest-b
Page 143 and 144: Note 33 Assets pledged Assets pledg
Page 145 and 146: Note 34 Continued Consolidated stat
Page 147 and 148: Note 35 Continued Relation between
Page 149 and 150: Note 37 Remuneration to senior exec
Page 151 and 152: Note 37 Continued Remuneration and
Page 153 and 154: Note Business unit Infrastructure D
Page 155 and 156: Note 42 Consolidated quarterly resu
Page 157 and 158: Note 43 Continued Statements of fin
Page 159 and 160: Note 44 Definitions Average capital
Page 161: Statement by the President and Chie
Page 165 and 166: The new environmentally advanced he
Page 167 and 168: Mike McNally Veronica Rörsgård Ro
Page 169 and 170: Richard Hörstedt Helsingborg, born
Page 171 and 172: May - August 2010 5/7/2010 Skanska
Page 173 and 174: November - December 2010 11/2/2010
Page 175 and 176: More information about Skanska Worl
Page 177 and 178: Annual Shareholders’ Meeting Inve
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Review of 2010 â USD version - Skanska