ANNUAL REPORT 2002 - Skanska

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Proposed allocation of earnings The Board of Directors and the President of Skanska AB propose that the profit for 2002, SEK 1,189,095,018, plus the retained earnings of SEK 4,803,939,865 brought forward from the preceding year, totaling SEK 5,993,034,883, be allocated as follows: A dividend to the shareholders of SEK 2.00 per share SEK 837,106,144 To be carried forward SEK 5,155,928,739 Total SEK 5,993,034,883 Stockholm, February 13, 2003 Sverker Martin-Löf Per-Olof Eriksson Roger Flanagan Sören Gyll Finn Johnsson Eliot R. Cutler Arne Mårtensson Anders Nyrén Folmer Knudsen Gunnar Larsson Nils-Erik Pettersson Stuart Graham President 70 Skanska Annual Report 2002 – Proposed allocation of earnings
Auditors’ Report To the Annual Meeting of Shareholders in Skanska AB (publ.), Swedish corporate identity number 556000-4615 We have examined the annual accounts, the consolidated accounts, the accounting records and the administration of the Board of Directors and the President of Skanska AB (publ) for the year 2002. These accounts and the administration of the Company are the responsibility of the Board of Directors and the President. Our responsibility is to express an opinion on the financial statements and the administration based on our audit. We conducted our audit in accordance with generally accepted auditing standards in Sweden. These standards require that we plan and perform the audit to obtain reasonable assurance that the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the accounts. An audit also includes assessing the accounting principles used and their application by the Board of Directors and the President, as well as evaluating the overall presentation of information in the annual accounts and the consolidated accounts. As a basis for our opinion concerning discharge from liability, we examined significant decisions, actions taken and circumstances of the Company in order to be able to determine the possible liability, if any, to the Company of any Board member or the President. We also examined whether any Board member or the President has, in any other way, acted in contravention of the Swedish Companies Act, the Annual Accounts Act or the Articles of Association. We believe that our audit provides a reasonable basis for our opinion set out below. The annual accounts and the consolidated accounts have been prepared in accordance with the Annual Accounts Act and thereby provide a true and fair picture of the Company’s and the Group’s results of operations and financial position in accordance with generally accepted auditing principles in Sweden. We recommend to the Annual Meeting of Shareholders that the income statements and the balance sheets of the Parent Company and the Group be adopted, that the profit for the Parent Company be dealt with in accordance with the proposal in the Report of the Directors and that the members of the Board of Directors and the President be discharged from liability for the financial year. Stockholm, February 24, 2003 Bernhard Öhrn Authorized Public Accountant Caj Nackstad Authorized Public Accountant Auditor’s Report – Skanska Annual Report 2002 71
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ANNUAL REPORT 2002
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The year 2002 in brief ■ Net sale
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Sweden Finland Norway Denmark Unite
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Looking forward During the summer o
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Focus on performance Result Be trul
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Healthy outlook for PFI in the UK S
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Research and development As a leadi
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term and indirect, which means that
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New life in a forgotten city block
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Construction Residential Commercial
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39% Skanska UK 3% 34% Skanska Polan
Page 23 and 24: The renovation of portions of Pragu
Page 25 and 26: Skanska Oy is a leader in the Finni
Page 27 and 28: Risk management Skanska’s operati
Page 29 and 30: The impossible made possible Over t
Page 31 and 32: Of Swedish shareholders, institutio
Page 33 and 34: Skanska’s accounts in order to sa
Page 35 and 36: Operating income, quarterly Rolling
Page 37 and 38: Return on capital employed declined
Page 39 and 40: ment AB; Mats Guldbrand, Equities M
Page 41 and 42: Comments on the income statement Ne
Page 43 and 44: SEK M Note 2002 2001 SHAREHOLDERS
Page 45 and 46: Consolidated cash flow statement SE
Page 47 and 48: Parent Company balance sheet SEK M
Page 49 and 50: eported according to the proportion
Page 51 and 52: Exchange Rates.” Acquisitions mad
Page 53 and 54: Note 4 Selling and administrative c
Page 55 and 56: Note 12 continued Wages, salaries,
Page 57 and 58: Note 12 continued Note 13 Average n
Page 59 and 60: Note 22 Effect of currency rate cha
Page 61 and 62: Note 27 continued % of votes Book %
Page 63 and 64: Note 40 Distribution of interest-be
Page 65 and 66: Note 51 continued Note 53 Assets pl
Page 67 and 68: Consolidated quarterly results 2002
Page 69 and 70: 2002 2001 SEKM Q4 Q3 Q2 Q1 Q4 Q3 Q2
Page 71 and 72: Core business EBITA margin 1 EBITA
Page 73: SEK M 2002 2001 2000 1999 1998 Bala
Page 77 and 78: Johan Bergman Johan Karlström Thom
Page 79 and 80: More information about Skanska The
Page 81: Addresses Skanska AB Box 1195 SE-11
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ANNUAL REPORT 2002 - Skanska

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