STOCKHOLM, Sweden, Feb. 13, 2003 (PRIMEZONE) -- Skanska (Other OTC:SKSBF) (Stockholm:SKAb):
-- Full-year 2002 operating income in construction-related operations
improved to SEK 2,519 M (370). Operating income improved gradually
during the year, due to a lower volume of project loss provisions
and writedowns of current assets.
-- Consolidated income of the Skanska Group reflects effects from the
strategic review undertaken during the later part of 2002, that was
presented January 14, 2003. During the year, restructuring expenses
and goodwill writedowns totaling SEK -2,016 M, of which SEK -1,645 M
was reported as items affecting comparability, were charged to
operating income.
-- During 2002, the consolidated operating income of the Skanska Group
rose to SEK 2,621 M (2,523), before items affecting comparability
totaling SEK -1,645 M (-230). During the period October-December,
operating income fell to SEK 695 M (1,322).
-- Full-year consolidated income after financial items declined to
SEK 73 M (1,116). This included items affecting comparability
totaling SEK -1,645 M (-230) and capital gains on the sale of
properties totaling SEK 294 M (2,155). During the fourth quarter,
income after financial items fell to SEK -989 M (1,248), including
items affecting comparability totaling SEK -1,645 M (286) and gains
on the sale of property totaling SEK 249 M (741).
-- Order bookings continued to be adversely affected by a weak market
for office construction and by a stronger exchange rate for the
Swedish krona. During the fourth quarter, however, order bookings
rose in all segments compared to the same period of 2001.
-- After the close of the report period, Skanska signed an agreement
with the U.S.-based Blackstone Group on the divestment of ten
properties in Sweden. The sales price totaled SEK 2,060 M, with a
capital gain of SEK 490 M.
-- The Board of Directors proposes a dividend of SEK 2.00 (3.00) per
share for the 2002 financial year.
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