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Skanska (SKA) investor relations material
Skanska Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Robust second quarter with strong construction margins, healthy order intake, and a solid project portfolio, especially in Central Europe; Nordic residential markets remained weak.
Commercial Property Development saw one major divestment in Bucharest; Investment Properties delivered stable performance.
Financial position remains solid, with significant carbon emissions reduction since 2015.
Revenue for Q2 was SEK 44.6 billion, down 6% year-over-year; currency-adjusted, revenue was flat.
Operating income fell 30% to SEK 1.8 billion, mainly due to fewer property divestments.
Financial highlights
Construction operating margin reached 3.9% (up from 3.5%); group rolling 12-month margin at 3.7%.
Return on equity (rolling 12 months) was 9.5%, up from 7.3% a year ago.
Operating cash flow from operations was SEK 1.3 billion, up from SEK 0.3 billion year-over-year.
Adjusted interest-bearing net receivables at SEK 9.7 billion at quarter-end.
Dividend of SEK 3.3 billion distributed during the quarter.
Outlook and guidance
US civil and building markets remain strong and well-funded; European and Nordic civil markets more active than building markets.
Central European residential market outlook upgraded to strong; Nordic recovery remains slow.
Commercial property transaction activity improving in Europe and Nordics, but US market remains subdued.
Demand for high-quality, sustainable spaces outpaces older stock.
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