Skanska AB Stock

Skanska AB is a multinational construction and development company headquartered in Sweden. Founded in 1887 as a manufacturer of concrete products, Skanska has evolved into a global leader in the industry.

Noteworthy Projects:

Skanska has undertaken numerous major projects across Europe and the United States. In Europe, notable projects include the Øresund Bridge connecting Sweden and Denmark (completed in 2000), the Queen Elizabeth Hospital in London (2001), the Golden Jubilee wing at King's College Hospital (2002), 30 St Mary Axe in London (2004), the refurbishment of the MoD Main Building (2004), the University Hospital Coventry (2006), the Mater Dei Hospital in Malta (2007), the Royal Derby Hospital (2010), Walsall Manor Hospital (2010), the Heron Tower (2011), King's Mill Hospital in Ashfield (2011), Brent Civic Centre (2013), new facilities for the Royal London Hospital (2015), and the redevelopment of St Bartholomew's Hospital (2016). Skanska is also involved in the HS2 project, working as part of a joint venture on lots S1 and S2, scheduled for completion in 2031.

In the United States, Skanska's notable projects include the MetLife Stadium (home to the Giants and Jets NFL franchises), completed in 2010. In 2010, the company secured a $115 million contract for the construction of a new State Route 99 roadway in downtown Seattle, Washington, as part of the Alaskan Way Viaduct replacement project. Skanska has also developed various commercial and residential buildings in the Seattle region, including the upcoming 2&U high-rise office building in downtown Seattle. Other significant projects include the renovation and expansion of the United Nations headquarters (2014), the restoration of the World Trade Center site, including the removal of debris, the reconstruction of the Port Authority Trans-Hudson and New York City Subway tunnels, and the creation of the World Trade Center Transportation Hub (2015) - encompassing the "Oculus" station entrance designed by Santiago Calatrava. Further projects include the Second Avenue Subway tunneling project (2016) and Moynihan Train Hall (2020). Skanska was also part of a joint venture with Stacy and Witbeck on the Sixth Street Viaduct Replacement Project, completed in 2022.

Skanska USA CEO and president, Richard Kennedy, was recognized as the Construction Dive Awards Executive of the Year in 2019. Skanska was also honored for its membership in the Predictive Analytics Strategic Council, and named the 2019 Innovator of the Year by Construction Dive.

Aktiebolaget Skånska Cementgjuteriet (Scanian Cement Casting Ltd) was founded in Malmö, Sweden, in 1887 by Rudolf Fredrik Berg, initially specializing in the production of concrete products.  The company rapidly expanded its operations to encompass construction services, securing its first international order within a decade of its establishment.  Skånska Cementgjuteriet played a pivotal role in the development of Sweden's infrastructure, contributing significantly to the construction of roads, power plants, offices, and housing.

Following its success in Sweden, Skånska Cementgjuteriet embarked on a path of international expansion. The mid-1950s marked a significant shift toward global markets, with the company establishing a presence in South America, Africa, and Asia. In 1971, Skånska Cementgjuteriet entered the United States market, where it currently stands as one of the leading players in its industry.  The company was listed on the Stockholm Stock Exchange A-list in 1965. By 1984, the name "Skanska," already widely recognized internationally, became the official name of the group.

During the latter half of the 1990s, Skanska experienced substantial growth through both organic expansion and strategic acquisitions.  In August 2000, the company acquired the construction division of Kvaerner.

In mid-2004, Skanska decided to divest its Asian investments, selling its Indian subsidiary to the Thailand-based construction firm Italian Thai Development Company.

In 2011, Skanska acquired Industrial Contractors, Inc., based in Evansville, Indiana, United States.

Skanska's operations are organized into 4 main revenue streams:

Construction: This is the largest business stream in terms of revenue and employee count, generating an average of SEK 116,152 million in annual revenue over the five-year period from 2010 to 2014.

Residential Development: Skanska develops residential properties, generating an average of SEK 8,721 million in annual revenue over the same period.

Commercial Property Development: This stream focuses on developing commercial properties, contributing an average of SEK 6,691 million in annual revenue from 2010 to 2014.

Infrastructure Development:  This stream primarily involves investments in projects that are developed and later divested. It often includes public-private partnerships (PPPs) and generated an average of SEK 219 million in annual revenue over the five years.

Skanska's operations are geographically distributed through local business units. 

Skanska USA

Skanska's presence in the United States was established through acquisitions of established local companies. Initially, the acquired companies maintained their legacy names alongside the Skanska brand (e.g., Slattery-Skanska). In 2007, Skanska implemented a plan to integrate and rebrand most of these acquired entities under the Skanska USA banner. This reorganization united entities based on business sector, geographic region, and district, creating three distinct regions: Northeast, Southeast, and Western.

Skanska has consistently demonstrated a strong commitment to sustainability and environmental responsibility. In 2007, the company was recognized as the No. 1 "Green Builder" in the United States, followed by a No. 3 ranking as a "Green Contractor" in 2008. Skanska's dedication to environmental practices extended beyond the US, earning them the title of the greenest company in the United Kingdom in 2011, despite operating in a sector typically associated with a significant environmental footprint. In 2014, the company received the Financial Times and ArcelorMittal "Boldness in Business Award" for its dedication to corporate responsibility and environmental stewardship.

The Financial Times acknowledged Skanska's ambition to become the "greenest contractor in the world," highlighting the company's vast network of employees, suppliers, and subcontractors who contribute to delivering over 10,000 projects annually. Skanska's vision encompasses "the five zeros": zero loss-making projects, work site accidents, environmental incidents, ethical breaches, and defects.

To further promote sustainability within its supply chain, Skanska established the "Supply Chain Sustainability School" in the United Kingdom, an e-learning initiative that educates construction suppliers on sustainable practices. Recognizing the shared nature of suppliers across the industry, the school is managed collaboratively with several competitors. Skanska's commitment to sustainability also led them to withdraw from the United States Chamber of Commerce in July 2013, in protest of the chamber's opposition to reformed LEED standards for sustainable buildings.

Skanska's pioneering spirit is evident in its early adoption of ISO 14000 standards globally. All business units have been certified according to ISO 14001 since 2000, marking the company as a leader in environmental management. Skanska was also the first Scandinavian company to establish an independent global whistleblowing hotline, demonstrating its commitment to ethical practices and transparency.

As of March 2015, Skanska focused its operations on select markets, including the Nordic region (Sweden, Norway, Finland, and Denmark), the rest of Europe (Poland, the Czech Republic, Slovakia, Hungary, Romania, and the United Kingdom), and North America (the United States). The company is in the process of exiting its operations in Latin America (Argentina, Brazil, Peru, Chile, Colombia, and Venezuela), ceasing to accept new projects in the region and divesting its operation and maintenance units.

Skanska's global presence is evident in its workforce, which numbered approximately 58,000 employees in 2014. The company's revenue for the year was distributed across its key regions: SEK 64.0 billion in the Nordic countries, SEK 35.0 billion in the rest of Europe, and SEK 49.9 billion in North America. Data for Latin America was not available due to the planned closure of operations.

Skanska operates across various sectors, including construction, commercial property development (office buildings, shopping centers, and logistics properties), and infrastructure development (roads, hospitals, and schools). The company also develops and builds homes in the Nordic region and the rest of Europe.

Skanska's industry leadership is reflected in its ranking as the 9th largest contractor globally in 2013 and the 7th largest contractor in the United States in 2014.  In the 12-month period ending September 2014, Skanska was the largest construction company by total revenue in the Nordic countries, exceeding SEK 145.0 billion. Other significant players in the region include NCC, Peab, Veidekke, Lemminkäinen, and YIT.