First quarter
Skanska received another assignment as part of the reconstruction of the World Trade Center site in New York City. Skanska will be responsible for erecting the steel structure for the Oculus building at the new World Trade Center Transportation Hub. The contract is worth SEK 1.3 billion.
In California, Skanska was awarded a contract to extend the light rail system in Los Angeles County, worth SEK 2.4 billion. The customer is the Los Angeles County Metropolitan Transportation Authority (METRO).
In Norway, Skanska was contracted to expand Oslo Gardermoen Airport for SEK 780 M.
In Rio de Janeiro, Brazil, Skanska was awarded a contract to modernize and construct lubricant plants for SEK 590 M.
A severe winter with heavy snow and very cold temperatures affected the timetable of projects in a number of Skanska’s geographic markets.
At the end of the quarter, Skanska reported sales totaling SEK 24.8 billion, operating income of SEK 451 M and order bookings of SEK 21.6 billion.
Second quarter
Skanska invested in and received a contract to build a project-financed wind farm in Gällivare Municipality, Sweden. The total cost will be about SEK 1.1 billion, and Skanska’s holding is 50 percent. It will be one of the largest land-based wind farms in Sweden, with an annual electricity production of about 200 gigawatt hours.
A sizable order during the quarter was an assignment to extend the subway system in Prague, Czech Republic, which will add four new stations. Skanska’s contract is for the technical part of the extension project and is worth about SEK 1.3 billion.
One of the year’s largest assignments in the healthcare sector is an expansion of the Nemours/Alfred I. duPont Hospital for Children in Wilmington, Delaware, U.S.A. for SEK 1.3 billion.
Skanska reached financial close for the Croydon and Lewisham street lighting project in the United Kingdom. The construction contract is worth SEK 760 M, and Skanska’s own investment in the project will total SEK 46 M.
Skanska disbursed an extra dividend of SEK 6.25 after the divestment of its holding in the Autopista Central highway in Santiago, Chile had been completed.
The Sunday Times newspaper named Skanska the greenest company in the U.K. Skanska ranked number one out of all companies surveyed in the newspaper’s Best Green Companies Award. The survey was conducted for the fourth year in a row. In 2010 Skanska UK was ranked the greenest company in the construction sector.
Financial market turmoil spread, in response to the debt crisis and political instability in the United States and Europe. Stock markets fell worldwide.
At the end of the second quarter, Skanska reported accumulated sales of SEK 53.9 billion in 2011, operating income of SEK 6.1 billion and order bookings of SEK 48.4 billion.
Third quarter
Skanska was awarded a contract from the State of New York to complete the final phase of a campus expansion at the City University of New York. The order was worth SEK 2.4 billion.
In the transportation sector, Skanska received two assignments
in New York City. One was a contract to furnish and install finishes and systems in the No. 7 Line subway extension, valued at about SEK 2.4 billion. Skanska was also awarded a contract worth SEK 1.3 billion for preparatory structural work for a new subway station. The Metropolitan Transportation Authority of the State of New York is the customer for both projects.
In July, Skanska received an assignment to construct a new office building for Statoil in Bergen, in accordance with Skanska’s Green Workplace concept. The order, worth SEK 1.5 billion, is one of Skanska’s largest-ever individual construction projects in Norway.
One of Skanska’s high-profile properties, the ÅF Building, Hagaporten 3 in Solna, Sweden was divested for SEK 1.1 billion. The property, which was completed in 2008, was constructed with high green ambitions and was one of the first to be classified as a European Union GreenBuilding in Sweden.
Skanska held its annual Management Meeting, this time in San Antonio, Texas, with nearly 700 employees attending.
The European debt crisis escalated, as did political instability. There was a new stock market slump.
In Sweden, real estate agents and home sellers held their big annual Open House Weekend late in August. Potential home buyers could visit a large number of open homes. Skanska participated, showing its newly constructed homes to possible future residents.
At the end of the third quarter, Skanska reported accumulated sales of SEK 86.0 billion in 2011, operating income of SEK 7.8 billion and order bookings of SEK 82.6 billion.
Fourth quarter
Skanska was awarded a contract to build a natural gas thermal power plant in Rio de Janeiro, Brazil. The order is worth about SEK 3.2 billion. The customer is the Petrobras energy company, a repeat customer of Skanska.
Skanska secured an assignment from the Norwegian National Rail Administration to build portions of the Vestfold Line between Drammen and Porsgrunn. The contract amounts to about SEK 1.6 billion.
Three office buildings in the Kungsholmen district of Stockholm were divested for a total of more than SEK 2 billion. The leasable space in these properties totaled more than 56,000 sq. m (602,000 sq. ft.).
In New Orleans, Louisiana, U.S.A., Skanska was contracted to build a hospital for about SEK 3 billion.
The world’s largest occupational health and safety event by a single company, Skanska’s annual Safety Week, took place. Some 53,000 employees and tens of thousands of subcontractors at more than 10,000 work sites in 18 countries were involved in activities that focused on occupational health and safety.
Poland’s big A1 highway project was inaugurated ahead of schedule. The project was procured and financed as a public-private partnership (PPP).
Skanska signed agreements to acquire three companies: Industrial Contractors Inc. in the U.S with 2,400 employees and sales of about SEK 3.2 billion; Finland’s Soraset Yhtiöt Oy, with 270 employees and sales of about SEK 900 M; and Poland’s PUDiZ Group, with 450 employees and sales of about SEK 350 M.
Skanska won five of the seven safety awards from the Swedish Transport Administration, aimed at encouraging systematic occupational health and safety programs and efforts to reduce work site accidents.
At the end of the fourth quarter, Skanska reported accumulated sales of SEK 122.5 billion in 2011, operating income of SEK 9.1 billion and order bookings of SEK 123.6 billion.