Review of 2010 â USD version - Skanska

More documents

Recommendations

Info

Contents Group overview 2010 in brief 2 Comments by the President and CEO 4 Mission, goals and strategy 6 Profitable Growth, 2011–2015 9 Segment reporting 10 Financial and qualitative targets 12 Risk management 14 New Karolinska Solna 16 Green Refurbishments 17 Employees 18 Share data 20 Business streams Construction 22 Residential Development 34 Commercial Property Development 42 Infrastructure Development 50 Sustainable development 60 Financial information Report of the Directors 69 Corporate governance report 76 Consolidated income statement 83 Consolidated statement of comprehensive income 84 Consolidated statement of financial position 85 Consolidated statement of changes in equity 87 Consolidated cash flow statement 88 Notes, table of contents 90 Statement by the President and Chief Executive Officer 157 Independent Auditors’ Report 158 Senior Executive Team 162 Board of Directors 164 Major events during 2010 166 Definitions and abbreviations 170 More information about Skanska 171 Addresses 172 Annual Shareholders’ Meeting 173 Investors 173 The financial statements presented in this Review have been prepared in USD (United States dollars) as the presentation currency. As the functional currency of the Parent Company is SEK (Swedish kronor), Skanska’s statutory Annual Report including the consolidated financial statements and the financial statements of the Parent Company has been prepared using Swedish kronor (SEK) as the presentation currency. For currency exchange rates, see page 140. Skanska’s largest-ever project, New Karolinska Solna − a new university hospital in Sweden − as it will look when completed. Reporting of earnings, revenue and key ratios in the first part of the Review of 2010 (pages 1–68) complies with the segment reporting method described on page 10.
The Skanska Group Senior Executive Team Skanska Financial Services Group Staff Units Construction Residential Development Commercial Property Development Infrastructure Development Skanska Sweden Skanska Norway Skanska Residential Development Nordic Skanska Commercial Development Nordic Skanska Infrastructure Development Skanska Finland Skanska Poland Skanska Czech Republic Skanska Resid. Development Poland Skanska Commercial Development Europe Skanska UK Skanska Resid. Development UK Skanska USA Building Skanska USA Civil Skanska Commercial Development USA Skanska Latin America Construction refers to building construction (both non-residential and residential) and civil construction. It is Skanska’s largest business stream. The Construction business stream operates through nine business units in selected home markets − Sweden, Norway, Finland, Estonia, Poland, the Czech Republic and Slovakia, the United Kingdom, the United States and Latin America. In addition, there is a pan-Nordic business unit for construction-related industrial production. The Residential Development business stream initiates and develops residential projects for sale. Homes are designed for selected customer categories. Skanska, one of the leading residential developers in the Nordic countries, also has a sizeable presence in the Czech Republic and Slovakia. The business stream operates in Sweden, Norway, Finland and Estonia, the Czech Republic and Slovakia. Residential Development business units are now also being started in the United Kingdom and Poland. Commercial Property Development initiates, develops, leases and divests commercial property projects, with a focus on office buildings, shopping malls and logistics properties. The business stream operates in markets where Skanska has construction business units in the Nordic countries, Central Europe and the United States, as well as in Denmark and Hungary. Infrastructure Development develops, manages and divests privately financed infrastructure projects such as highways, hospitals, schools and power generating plants. The business stream focuses on creating new potential for projects in markets where Skanska has construction business units. It works through the Skanska Infrastructure Development business unit. Revenue USD 15,707 M EUR 11,854 M SEK 113,213 M Share of Group 90% Revenue USD 1,052 M EUR 794 M SEK 7,581 M Share of Group 6% Revenue USD 645 M EUR 487 M SEK 4,648 M Share of Group 4% Revenue USD 44 M EUR 33 M SEK 319 M Share of Group 0% Operating income USD 609 M EUR 459 M SEK 4,388 M Share of Group 71% Operating income USD 78 M EUR 59 M SEK 559 M Share of Group 9% Operating income USD 128 M EUR 96 M SEK 920 M Share of Group 15% Operating income USD 41 M EUR 31 M SEK 297 M Share of Group 5%
Page 1: Review of 2010 - USD version
Page 5 and 6: United States 28% Business streams:
Page 7 and 8: Johan Karlström, Skanska’s Presi
Page 9 and 10: Our new office building projects ar
Page 11 and 12: Skanska’s core businesses Constru
Page 13 and 14: Profitable growth 2011-2015 Skanska
Page 15 and 16: Performance analysis The Group Reve
Page 17 and 18: Capital structure Capital requireme
Page 19 and 20: projects during tender preparation
Page 21 and 22: Green Refurbishment for value-secur
Page 23 and 24: Evaluating managers To provide a be
Page 25 and 26: Skanska share price movement, Janua
Page 27 and 28: Construction 25 Aviation hangar bec
Page 29 and 30: increase due to stricter energy and
Page 31 and 32: In August, a milestone breakthrough
Page 33 and 34: The London skyline has reached a ne
Page 35 and 36: Skanska Review of 2010 - USD versio
Page 37 and 38: and Texas and all the way west to C
Page 39 and 40: Residential Development 37 New home
Page 41 and 42: Stavanger, on the southern coast of
Page 43 and 44: In Ellös on the isle of Orust alon
Page 45 and 46: Ullstorps Gårdar — Country life
Page 47 and 48: 0,6 Commercial Property Development
Page 49 and 50: The City Green Court office buildin
Page 51 and 52: Green Lustgården started Poland -
Page 53 and 54:
1 4 5 5 Illustration Tyfonen Illust
Page 55 and 56:
Infrastructure Development 55 New K
Page 57 and 58:
At the end of 2010, Skanska signed
Page 59 and 60:
To win the New Karolinska Solna pro
Page 61 and 62:
Two London hospitals, Barts and the
Page 63 and 64:
Skanska Review of 2010 - USD versio
Page 65 and 66:
Sustainable development 64 Blå Jun
Page 67 and 68:
Safety starts with planning Skanska
Page 69 and 70:
The Skanska Color Palette TM is now
Page 71 and 72:
Sustainable procurement Over 80 per
Page 73 and 74:
Skanska Financials 2010 The financi
Page 75 and 76:
North America and Latin America Dur
Page 77 and 78:
Earnings per share USD 1.6 Investme
Page 79 and 80:
Material risks and uncertainty fact
Page 81 and 82:
The members and deputy members of t
Page 83 and 84:
Skanska’s management structure Se
Page 85 and 86:
the World Business Council for Sust
Page 87 and 88:
Consolidated income statement USD M
Page 89 and 90:
Consolidated statement of financial
Page 91 and 92:
Consolidated statement of changes i
Page 93 and 94:
Consolidated operating cash flow st
Page 95 and 96:
Note 01 Consolidated accounting and
Page 97 and 98:
Note 01 Continued IFRS 5, “Non-cu
Page 99 and 100:
Note 01 Continued Further expenditu
Page 101 and 102:
Note 01 Continued The obligation is
Page 103 and 104:
Infrastructure Development Skanska
Page 105 and 106:
Note 03 Continued Statement of comp
Page 107 and 108:
Note 03 Continued Operating cash fl
Page 109 and 110:
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 and 162:
Statement by the President and Chie
Page 163 and 164:
Skanska Review of 2010 - USD versio
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
show all

Review of 2010 â USD version - Skanska

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?

Review of 2010 â USD version - Skanska