{"id":29013,"date":"2025-02-10T12:21:51","date_gmt":"2025-02-10T20:21:51","guid":{"rendered":"https:\/\/essential.construction\/news\/skanska-ceo-sees-very-stable-us-operations\/"},"modified":"2025-02-10T12:21:51","modified_gmt":"2025-02-10T20:21:51","slug":"skanska-ceo-sees-very-stable-us-operations","status":"publish","type":"post","link":"https:\/\/essential.construction\/news\/skanska-ceo-sees-very-stable-us-operations\/","title":{"rendered":"Skanska CEO sees \u2018very stable\u2019 US operations"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"text-to-speech\">\n    <button class=\"text-to-speech__button button\"><\/p>\n<p>            <img decoding=\"async\" class=\"text-to-speech__button__icon\" src=\"https:\/\/www.constructiondive.com\/static\/images\/audio_icon.svg?482016190122\" alt=\"-\"><\/p>\n<p>        Listen to the article<br \/>\n        <span class=\"text-to-speech__button__audio-length\">4 min<\/span><br \/>\n    <\/button><\/p>\n<div class=\"text-to-speech__controls\">\n        <audio controls=\"\" class=\"js-text-to-speech\" preload=\"none\"><source src=\"http:\/\/res.cloudinary.com\/dmgi9movl\/video\/upload\/q_1\/v1739200847\/news\/text_to_speech\/skanska-ceo-us-construction-market_qh0ktl.wav\" type=\"audio\/mp3\"><\/source><\/audio><\/p>\n<div class=\"text-to-speech__controls__text\">\n            This audio is auto-generated. Please let us know if you have <a rel=\"nofollow noopener\" href=\"https:\/\/www.constructiondive.com\/contact\/\" target=\"_blank\">feedback<\/a>.\n        <\/div>\n<\/p><\/div>\n<\/div>\n<p><span><span><span><span><span><span>Sweden-based builder and developer Skanska reported a <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/group.skanska.com\/490770\/siteassets\/investors\/reports-publications\/interim-reports\/2024\/q4-2024\/skanska-q4-2024-en.pdf\" target=\"_blank\"><span><span><span><span><span><span><span>record-high backlog<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span> as its construction division continued to see strong demand, particularly in infrastructure, data centers and public projects.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cWe are well positioned when it comes to [data centers,] especially in the U.S., where we see the strongest activity,\u201d said Skanska CEO Anders Danielsson during the company\u2019s earnings call Friday. \u201cThere are multiple clients, repeat clients, that want to build out.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Danielsson added that other growth sectors within Skanska\u2019s portfolio include traditional infrastructure, schools, hospitals and airports. These sectors have remained <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/www.constructiondive.com\/news\/skanska-earnings-q3-2024-construction\/732232\/\" target=\"_blank\"><span><span><span><span><span><span><span>core areas for Skanska<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span> in the U.S., particularly as public sector funding supports these types of projects.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cWe are strong in other segments as well. We\u2019re in more traditional infrastructure, for example, roads, railways and so on,\u201d said Danielsson during the call. \u201cWe are also strong when it comes to schools, hospitals, university, airports. So, we are in the right places.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The company\u2019s total order backlog reached 285 billion crowns ($26 billion), a 24.1% increase from 229.6 billion crowns a year ago, according to the earnings report. That represents about 20 months worth of production, according to the release.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Revenue for the fourth quarter climbed to 50.6 billion crowns, a 20% increase year over year when adjusted for currency fluctuations, according to the report. For the full year, revenue reached 177.2 billion crowns, up 13% when adjusted for exchange rates.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<figure class=\"image-right inside_story\">\n<div class=\"figure_content\">\n<div><img decoding=\"async\" alt=\"headshot of Anders Danielsson\" data-imagemodel=\"174254\" src=\"https:\/\/imgproxy.divecdn.com\/87mvtN7uPp2DiaACY07BDXoDq460ibg2aeuOEfe1Z5s\/g:nowe:185:0\/c:440:550\/rs:fit:0:860\/Z3M6Ly9kaXZlc2l0ZS1zdG9yYWdlL2RpdmVpbWFnZS9hbmRlcnMtZGFuaWVsc3Nvbi5wbmc=.webp\"\/><\/div>\n<\/div><figcaption class=\"inside_story_caption\">\n<p>Anders Danielsson<\/p>\n<p>Courtesy of Skanska<\/p>\n<p>\u00a0<\/p>\n<\/figcaption><\/figure>\n<p><span><span><span><span><span><span>\u201cWe have larger projects in the U.S.,\u201d said Danielsson during the call. \u201cThe market continues to be strong, definitely.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>An analyst asked whether Skanska had experienced any disruptions in federal project payments or if the company anticipated that future government contracts might become less favorable for private firms under the new administration. Danielsson responded Skanska has not seen any issues with its U.S. public sector work.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cWe have a very stable operation. We have good contracts with repeat clients in the U.S. on the public side,\u201d said Danielsson. \u201cWe don\u2019t see any trend downwards when it comes to the pipeline, either. It continues to be strong and stable.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<h3 class=\"standard-heading\"><span><span><span><strong><span><span>High interest rates<\/span><\/span><\/strong><\/span><\/span><\/span><\/h3>\n<p><span><span><span><span><span><span>While overall construction activity remains strong, Danielsson noted U.S. commercial property development is lagging other parts of the world due to the <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/www.constructiondive.com\/news\/charts-construction-contractors-watch-2025\/736569\/\" target=\"_blank\"><span><span><span><span><span><span><span>high interest rate environment<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span>.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cFor commercial property development, we see transaction market is coming back somewhat in Europe. Could see our divestment there lagging a bit in the U.S. due to the interest rate situation there,\u201d said Danielsson. \u201cBut the leasing market is stable in Europe and also improving in the U.S., so that\u2019s encouraging.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Companies bringing employees back to the office full-time have contributed to some improvement, but demand remains mixed in that sector.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cIt is a polarized market,\u201d said Danielsson. \u201cFlight to quality is really clear and that\u2019s exactly what the type of product we can offer the market. That\u2019s beneficial for us.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>To diversify beyond office buildings, Skanska is looking to expand its work in life sciences and multifamily rental property construction in the U.S. as well, said Danielsson.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cIn the commercial development operation, we continue to believe in the office market long term,\u201d said Danielsson during the call. \u201cBut we also have said that we will try to diversify the portfolio. We are looking into life science, for example, in parts of the U.S. We also have started residential for rental use, that\u2019s also a good market.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.constructiondive.com\/news\/skanska-ceo-us-construction-market\/739613\/\" rel=\"nofollow noopener\" target=\"_blank\">This article was originally posted at Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Listen to the article 4 min This audio is auto-generated. Please let us know if you have feedback. Sweden-based &#8230; <a title=\"Skanska CEO sees \u2018very stable\u2019 US operations\" class=\"read-more\" href=\"https:\/\/essential.construction\/news\/skanska-ceo-sees-very-stable-us-operations\/\" aria-label=\"Read more about Skanska CEO sees \u2018very stable\u2019 US operations\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[457],"tags":[],"class_list":["post-29013","post","type-post","status-publish","format-standard","hentry","category-construction-dive","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts\/29013","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/comments?post=29013"}],"version-history":[{"count":0,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts\/29013\/revisions"}],"wp:attachment":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/media?parent=29013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/categories?post=29013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/tags?post=29013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}