Swedish giant says most of its markets staying flat or getting worse in coming 12 months apart from US

Skanska has warned it expects the UK building and civils market to weaken in the coming year.

The Swedish contractor made the comments as it published its group 2024 results which show turnover and operating income both up.

The firm, which is set to set to start on two major London office schemes in the coming months for Landsec and British Land respectively, said turnover last year was up 13% to SEK177.2bn (拢13.1bn).

skanska

Source: Shutterstock

Skanska said its building and civils work in the UK would weaken in the coming 12 months

Operating income more than doubled 鈥� by 119% 鈥� to SEK7.1bn (拢525m) during the period giving an operating margin of 3.5%.

The construction arm posted revenue up 5% to SEK168.6bn (拢12.5bn) with operating income up 4% to SEK5.9bn (拢437m).

Skanska said work in the coming 12 months across its core markets, which as well as the UK include the Nordic countries and Central Europe, except the US 鈥� where it said strong demand was coming for both its building and civils businesses. Last month it signed a $450m (拢364m) contract to rebuild a road bridge in Columbia, North Carolina, for the state鈥檚 transport department.

The group鈥檚 construction order book was up 12% to a record SEK50bn (拢3.7bn).

Topics