Skanska Analysis

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Year-end report 2012 Y d t

Hunts Library, North Carolina State University, U.S.

Year-end report 2012 Y d t
− R Revenue growth i C th in Construction t ti − Earnings in Construction at the same level as 2011 including writewrite downs in Latin America − Construction Norway and Finland y back on track − Profitable divestments in CD and ID − Strong cash flow in the last quarter − Good outlook and strong position in the U.S. − Unchanged dividend SEK 6.00 (6.00) (6 00) per share Green Towers, Wrocław, Poland

2 February 7, 2013 Skanska Year-end Report 2012

Construction C t ti
− Revenue SEK 124.5 bn (115.0) − Operating income in Construction SEK 3.5 bn (3.5) − Project write-downs in Latin America of SEK 860 M − Strong development of free working capital in Q4 − Order bookings SEK 120.1 bn (123.6), − U.S. market strong

Norra Länken (The Northern Link), Stockholm
3 February 7, 2013 Skanska Year-end Report 2012

New orders i N d in Construction in Q4
SEK M − Maintenance, U.K: 2,100 (8,600 in total) − Highway U K : 1 680 Highway, U.K.: 1,680 − Building, U.S.: 1,400 − H Hospital, U S 1 000 it l U.S.: 1,000 − Transfer facility, U.S.: 990 − Shopping center, Finland: 960

M 25, UK
4 February 7, 2013 Skanska Year-end Report 2012

Residential R id ti l Development
− Revenue SEK 8.7 bn (8.6)
− 3,060 (3,193) homes sold − 2,993 (3,630) homes started

− Operating income SEK -114 M (345)
− Q4 SEK 128 M (87)

− Restructuring process of the Nordics
− Organization in place − Enhanced efficiency of production and land bank

Park Ostrobramska, Poland
5 February 7, 2013 Skanska Year-end Report 2012

Commercial P C i l Property t Development
− Divestments of SEK 6.3 bn (5.0)
− Divestments of SEK 3.0 bn in Q4

− Income from divestments SEK 1.7 1 7 bn (1 3) (1.3) − 13 project starts − 4 project starts in Q4

− 25 ongoing projects Jan 1, 2013
− SEK 8.1 bn in investment value − 61% pre-leasing rate

− 230,000 sq. m leased in 2012
− 65,000 sq. m in Q4
6 February 7, 2013 Skanska Year-end Report 2012

Green Corner, Warsaw, Poland

Infrastructure I f t t Development
− Divestments of four hospitals and one highway − Financial close − Midt Midtown T Tunnel, U S l U.S. − Mullberg wind farm, Sweden − Woodlands school, U.K.

London Hospital, U.K.
7 February 7, 2013 Skanska Year-end Report 2012

Synergies i Sk S i in Skanska’s b i k ’ business model d l Free working capital Investment opportunities Revenue clients

Construction
Internal contracts 12% of revenue in Construction

Project Development

Return on equity 18-20%

Dividend 40 70% of profit 40-70%

Internal revenue, SEK bn

Jan–Dec 2012

Jan–Dec 2011

Residential Development Commercial Property Development p Infrastructure Development Total 8 February 7, 2013 Skanska Year-end Report 2012

4.5 2.8 7.6 14.9

4.4 1.8 8.6 14.8

Construction C t ti
SEK bn 175 150 125 100 75 50 25 0

Order bookings and Order backlog
Book-to-build 96%

Order backlog Order bookings, rolling 12 month basis Revenue, rolling 12 month basis Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 08 08 08 08 09 09 09 09 10 10 10 10 11 11 11 11 12 12 12 12 Order bookings per quarter

SEK bn

Jan–Dec 2012

Jan–Dec 2011

Revenue Order bookings Order backlog
9 February 7, 2013 Skanska Year-end Report 2012

124.5 120.1 146.7

115.0 123.6 155.7

Construction C t ti
Order bookings
Jan–Dec 2012 Jan–Dec 2011 Change in local currency, % Bookto-build, R-12, %

SEK bn

Sweden Norway Finland Poland Czech Republic UK USA Building USA Civil Latin America Total

25.7 10.2 6.6 7.6 3.8 11.5 28.0 17.7 9.0 90 120.1

24.5 17.8 8.4 9.1 6.0 9.1 25.9 13.1 9.6 96 123.6

5 -43 -19 -13 -33 23 3 29 -9 9 -4

91 72 84 85 68 92 105 142 110 96

10 February 7, 2013

Skanska Year-end Report 2012

Construction C t ti
% 5.0 4.5 4.0 3.5 3.0 2.5 2.0

Income statement
SEK bn 160.0 120.0 80.0 40.0 0.0 Rolling 12 months Operating margin O...
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