Skanska Year-End Report, 1999 Bokslutskommunike 1999; Strong Growth and Sharply Higher Earnings.Business Editors
STOCKHOLM, Sweden--(BUSINESS WIRE)--Feb. 24, 2000
-- Order bookings rose by 25 percent to SEK 96,894 M (77,383) -- Net sales rose by 27 percent to SEK 79,128 M (62,435) -- Income from operations, gross, rose by 61 percent to SEK 2,259 M (1,407) -- Earnings per share amounted to SEK 37.6 (24.4) -- Proposed regular dividend of SEK 12 per share (12) -- Proposed extra dividend of SEK 4 per share -- Proposal concerning buy-backs of shares
"On the whole, 1999 was a very good year for Skanska," says Skanska's President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Claes Bjork in a comment to the Group's 1999 Year-End Report.
"We had strong growth in construction operations, at the same time as our margins improved significantly. Through acquisitions, we entered new geographic markets with attractive potential. We have also established ourselves as a large-scale supplier of construction-related services within telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. and information technology. Here, as in facilities management The management of a user's computer installation by an outside organization. All operations including systems, programming and the datacenter can be performed by the facilities management organization on the user's premises. , I see good opportunities to further enlarge TO ENLARGE. To extend; as, to enlarge a rule to plead, is to extend the time during which a defendant may plead. To enlarge, means also to set at liberty; as, the prisoner was enlarged on giving bail. our operations over the next few years.
"Our project development operations also expanded. Altogether we invested nearly SEK SEK
In currencies, this is the abbreviation for the Swedish Krona.
The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 6 billion in new commercial and residential projects last year. Another important element of our strategy is to sell the projects and properties that we develop. Last year we sold nearly SEK 4 billion worth of properties, with capital gains totaling SEK 1 billion. Our remaining property portfolio and ongoing projects still have substantial surplus value that we will realize over time.
"We are continuing to focus increasingly on our core business. Having divested our shares in Scancem last year and our holding in SKF SKF Svenska Kullagerfabriken
SKF Svenska Klätterförbundet (Sweden)
SKF Smithsonian Kite Festival
SKF San Antonio Kelly Field Annex (Lackland AFB, Texas) early this year, our last significant non-core shareholdings have been sold, in both cases with good capital gains.
"The capital thus freed up will be invested primarily in our core business. Meanwhile we must continuously adjust our capital structure to the needs of our operations. The Board's proposal concerning buy-backs of Skanska shares should, among other things, be viewed in this light."
Stockholm den 4 november 1999 Skanska AB Koncernstab Kommunikation
Enclosed en·close also in·close
tr.v. en·closed, en·clos·ing, en·clos·es
1. To surround on all sides; close in.
2. To fence in so as to prevent common use: enclosed the pasture. : Skanska Group, Year-End Report, 1999 Results This and previous press releases are also available at www.skanska.com
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