ANNUAL REPORT 2004 - Skanska

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Skanska in brief • Skanska is one of the world’s leading companies in constructionrelated services and project development. • Skanska’s 2004 sales were SEK 121 billion. • Operations take place in selected “home markets.” • Skanska has 54,000 employees. Skanska’s construction operations focus on selected home markets. In the Nordic countries as well as in the Czech Republic and in St. Petersburg, the Group also performs residential project development. Commercial project development is performed by specialized units in Sweden, Denmark, Poland, the Czech Republic and Hungary. BOT operations focus on Skanska’s home markets, with an emphasis on Great Britain and Latin America. Norway Finland Net sales by geographic area, 2004 1 United Kingdom Estonia Other markets, 3% Sweden, 23% Denmark Sweden Poland USA United States Slovakia Czech Republic Hungary USA, 34% Other Nordic countries, 18% Other European countries, 22% 1 Continuing operations Latin America Venezuela Skanska in brief – Skanska Annual Report 2004
Skanska’s four business streams Construction refers to building construction (both non-residential and residential) and civil construction. It is Skanska’s largest business stream. Construction business units also perform contracting assignments for the three other business streams. Residential Project Development develops residential projects for immediate sale. Housing units are tailored for selected customer categories. The construction assignments are normally carried out by Skanska’s construction units in each respective market. Skanska is one of the largest residential developers in the Nordic countries and also has a sizeable presence in the Czech Republic and St. Petersburg, Russia. Commercial Project Development initiates, develops, leases and divests commercial property projects. Its operations focus on office buildings, shopping centers and logistics properties in the Swedish cities of Stockholm and Gothenburg, the Öresund region (Malmö, Sweden/ Copenhagen,Denmark), Warsaw (Poland), Prague (Czech Republic) and Budapest (Hungary). It works through two business units: Skanska Project Development Sweden and Skanska Project Development Europe. BOT (Build Own/Operate Transfer) develops and invests in privately financed infrastructure projects such as roads, hospitals and power generation plants. Its operations focus on creating new potential for projects in markets where Skanska has construction business units. Net sales, 2004 SEK 121,263 M Operating income, 2004 SEK 3,853 M Capital employed, 2004 SEK 21,105 M Operating cash flow, 2004 SEK 9,218 M 88% 12% 1% 31% 28% 18% 17% 44% 42% 11% 7% 5% 5% 2% Byggrelaterade tjänster och Services, 89% 14% 36% 36% 3% Construction Residential Project Development Commercial Project Development BOT Central, eliminations and discontinuing operations Pms 129 Skanska Annual Report 2004 – Skanska’s four business streams Projektutveckling bostäder, 5% Projektutveckling kommersiella lokaler, 6%
Page 1 and 2: ANNUAL REPORT 2004
Page 3: The year in brief Nordic residentia
Page 7 and 8: STRONG RESULTS IN PROJECT DEVELOPME
Page 9 and 10: The units of the Skanska Group coll
Page 11 and 12: Financial targets and their fulfill
Page 13 and 14: Non-residential building and civil
Page 15 and 16: Currently under construction in sub
Page 17 and 18: International energy companies are
Page 19 and 20: Skanska is one of the largest resid
Page 21 and 22: Botanica, a new residential area in
Page 23 and 24: Commercial Project Development is o
Page 25 and 26: Skanska Project Development - Book
Page 27 and 28: In Derby, construction is underway
Page 29 and 30: Sustainable development Our vision
Page 31 and 32: Employees It is the thousands of in
Page 33 and 34: Skanska’s Series B shares are als
Page 35 and 36: the Group’s core business will be
Page 37 and 38: Net sales and percentage outside Sw
Page 39 and 40: Net divestments in project developm
Page 41 and 42: employees. Of the members elected b
Page 43 and 44: Consolidated income statement Conti
Page 45 and 46: SEK M Note 2004 2003 SHAREHOLDERS
Page 47 and 48: Consolidated cash flow statement SE
Page 49 and 50: Parent Company balance sheet SEK M
Page 51 and 52: Notes, including accounting and val
Page 53 and 54: es the exchange rate effect when tr
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In connection with contracting assi
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Note 2 Effects of changes in accoun
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Note 3 Segment reporting The divisi
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Note 3 continued B. Secondary segme
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Credit risk Credit and counterparty
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Note 4 continued The Group’s unre
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Note 6 continued Net sales by type
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Note 11 Depreciation/amortization D
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Note 14 Borrowing costs Borrowing c
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Note 17 continued Information about
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Note 19 continued Receivables from
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Note 22 Associated companies Associ
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Note 26 continued Number of shares
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Note 28 continued Provisions for pe
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Note 31 Expected recovery periods o
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Note 32 continued Assets pledged fo
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Note 33 continued Consolidated bala
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Note 34 continued Relation between
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Note 35 continued Terms for the Boa
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Note 35 continued Absence from work
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Note 40 continued Discontinuing ope
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Note 42 Five-year Group financial s
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Note 43 Definitions Interest-bearin
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Auditors’ Report To the Annual Me
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Corporate governance Skanska AB is
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Annual Shareholders’ Meeting The
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Addresses Skanska AB SE-169 83 Soln
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Production: Skanska Investor Relati
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ANNUAL REPORT 2004 - Skanska

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