Skanska (SKA) Q4 2024 earnings summary

Executive summary

• Q4 delivered strong performance, especially in construction, with record high order backlog and improved sales in Residential and Commercial Property Development amid market recovery.

• Robust operational cash flow and financial position support a proposed dividend increase to SEK 8.00 per share.

• All primary markets contributed positively, with the US market offering significant growth opportunities.

• Continued focus on sustainability, with a 61% reduction in scope 1 and 2 emissions since 2015.

Financial highlights

• Q4 revenue: SEK 50.6 bn (up 21% YoY); full-year revenue: SEK 177.2 bn (up 13% YoY).

• Q4 operating income: SEK 2.7 bn (up 189% YoY); full-year operating income: SEK 7.1 bn (up 121% YoY).

• Q4 EPS: SEK 5.54 (2.48); full-year EPS: SEK 14.12 (7.89).

• Operating cash flow from operations: SEK 5.1 bn in Q4; SEK 6.7 bn for the year.

• Adjusted interest-bearing net receivables: SEK 12.0 bn at year-end.

Outlook and guidance

• US construction market expected to remain strong, with stable civil markets in Europe and gradual improvement in Finland and the Nordics.

• Residential and commercial development markets in the Nordics and Europe remain weak but show early signs of improvement; Central Europe stable.

• Commercial property transaction activity returning in Europe, lagging in the USA; demand for high-quality space increasing.