Review of 2010 – USD version - Skanska

0,6
Commercial Property Development
44
Gårda is the first LEED Platinum
office building in Gothenburg
45
Illustration
Commercial Property Development invests
in and develops Green Commercial Property
projects for leasing and divestment in
Sweden, Norway, Denmark, Finland, Poland,
the Czech Republic, Hungary and the U.S.
City Green Court, a new green
project in Prague
48
Illustration
Universitetsholmen, a new
district in Malmö full of green
projects
Commercial Property Development will increase its investments in
Green Projects in the Nordic countries and Central Europe, start
operations in Oslo, Norway and regional growth centers in Poland
and expand its U.S. operations to Boston, Houston and Seattle.
The target is a return on capital employed amounting to 10–15 percent
annually for Skanska’s three project development streams combined.
USD M 2010 2009
Revenue 645 594
Operating income 128 102
of which gain from divestments of
110 99
properties 1
of which operating net, completed properties 2 54 36
Investment obligations,
projects started during the year 692 110
Investments –437 –562
Divestments 912 560
Operating cash flow from business
operations 3 471 100
Capital employed, USD billion 1.4 1.7
Return on capital employed 4 , % 7.9 10.4
Number of employees 199 187
1 Additional gain included in eliminations was
2 After selling and administrative expenses.
3 Before taxes, financial activities and dividends.
4 Calculated in accordance with the definition of financial targets.
11 11
Properties
Investments, divestments and capital gains
USD bn
0.6
0.4
0.2
0.0
−0.2
−0.4
−0.6
−0.8
2006
2007 2008 2009 2010
• Divestments • Investments • Capital gains
Skanska Review of 2010 – USD version Commercial Property Development 43