ANNUAL REPORT 2006 - Skanska

The Danish unit of Svenska
Handelsbanken (SHB), a major
Swedish-based bank, will
be among the tenants at
Skanska’s new Atrium office
building in Havneholmen,
central Copenhagen. Atrium,
the first of several planned
office projects, will total
15,000 sq. m (108,000 sq. ft.)
on seven floors. SHB’s lease
is for three floors, totaling
some 4,000 sq. m. Skanska is
investing some SEK 325 M in
the project and plans to begin
new projects in Havneholmen,
where it owns approximately
40,000 sq. m (430,000 sq. ft.)
in additional building rights.
%
30
Justerad avkastning på sysselsatt kapital
till marknadsvärde och bokfört värde 1998−2006 1)
Volym i projektutveckling
av kommersiella fastigheter 1)
Färdigställda fastigheter
bokfört värde, 1 januari 2007
Skanska 25 Commercial Development – Carrying amounts and market values
Carrying Carrying Leasable 4 Economic Operating Yield on Yield on Projected rental Average
20
amount amount upon Market value, Surplus space, occupancy net, carrying market value fully lease,
SEK billion Dec 31, 2006 completion Dec 31, 2006 value 000 sq m level, % SEK M amount, % value, % leased, SEK M years7
3
10
0.2
Stockholm, 62%
Skanska Annual Report 2006 Commercial Development 35
Gothenburg, 18%
5
0.1
Malmö/Copenhagen, 20%
0
0
• Central Europe, 0%
Completed 15 projects 2.5 2.5 3.5 2 1.0 291 70 94 3 3.7 2.7 366 5 4.0
Projects completed in 2006 0.4 0.4 0.6 2 0.2 28 2
76 39 4 9.2 6.8 41 5 9.0
Ongoing 10 projects 0.8 2.8 3.6 2 0.8 154 49 218 4 7.8 6.1 Stockholm, 62%
237 6 12.0
Total 3.7 5.7 7.7 2 2.0 473 351 Göteborg, 18%
1
4
5
Development properties 1 1.8
Malmö/Köpenhamn, 20%
0
Total 5.5
0
•
Centraleuropa, 0%
1998 1999 2000 2001 2002 2003 2004 2005 2006
2002 2003 2004 2005 2006
1 “Development properties” refers to land with building rights for commercial use, totaling about 980,000 sq m (10.55 million sq. ft.).
Avkastning på sysselsatt kapital, marknadsvärde
Sålda projekt
2 Internal appraisal on each respective completion date.
3 Estimated Avkastning operating på net sysselsatt before corporate kapital, and bokfört business värde area overhead in 2006 on an annual basis assuming the current occupancy Pågående projekt
rate.
4 Estimated operating net before corporate and business area overhead fully leased in year 1 when the properties are completed.
1) Inklusive driftnetto, upparbetade orealiserade utvecklingsvinster och förändringar i marknadsvärde •
Projekt färdigställda under året
5 Total of contracted rents and estimated rent for unoccupied space.
1) Avser bokfört värde i färdigställda
6 Estimated rental value fully leased in year 1 when the property is completed.
Skanskakoncernens mål för den kommersiella fastighetsverksamheten är en justerad
projekt och bedömt bokfört värde vid
7 Refers to the average duration of leases.
färdigställande i pågående fastighetsprojekt
avkastning på sysselsatt kapital till bokfört värde om minst 15% över en konjunkturcykel.
Adjusted return on capital employed
Volume of Commercial
Completed properties
at market value and carrying amount, 1998−2006 1
Development 1
carrying amount, January 1, 2007
%
SEK bn
30
5
25
4
20
3
15
2
10
Stockholm, 62%
Gothenburg, 18%
1
5
Malmö/Copenhagen, 20%
0
•
Central Europe, 0%
0
1998 1999 2000 2001 2002 2003 2004 2005 2006
2002 2003 2004 2005 2006
Return on capital employed, market value
Projects sold
Return on capital employed, carrying amount
Ongoing projects
1 Including operating net, accrued unrealized development gains as well as changes in market value •
Projects completed during
the year
The Skanska Group's target for commercial property operations is an adjusted return on
1 Refers to carrying amount of completed
projects and projected carrying amount of
capital employed at carrying amount of at least 15 percent over a business cycle.
ongoing real estate projects upon completion
Adjusted return on capital employed
Volume of Commercial
Completed properties
at market value and carrying amount, 1998−2006 1
Development 1
carrying amount, January 1, 2007
%
USD
Commercial
bn
Development 2006
30
Further information about Skanska’s Commercial Development
operations and about the property portfolio can be
0.6
25
0.5 found in “Skanska Commercial Development 2006,” which
can be downloaded from www.skanska.com/investors. The
20
0.4 publication can also be ordered from Skanska AB, Investor
Relations.
15
0.3
1998 1999 2000 2001 2002 2003 2004 2005 2006
2002 2003 2004 2005 2006
Mdr kr
5