Swedish giant says operating income down 17% last year

Skanska said income was down 7% last year with the firm seeing its operating income sink by double digits.

In its 2021 results, the Swedish giant said revenue stood at SEK147.5bn (£11.8bn) last year with the bulk of this, SEK132.5bn (£10.6bn) coming from its construction business.

skanska cementation 1

Skanska said workloads in the UK in the coming year remained steady

It said operating income was down 17% to SEK9.7bn (£776m), a figure which includes the SEK370m (£30m) proceeds of the sale of its infrastructure services business in the UK to M Group Services for £50m. The firm said operating profit had fallen after it sold a PPP stake in a bridge scheme in the US at the end of 2020.

Operating profit from its construction business went up from SEK3.5bn (£280m) to just over SEK5bn (£400m) with the firm saying that its work in the UK would remain stable over the coming year.