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Skanska call 2018 for disappointment – lowers dividend

Analysts had on average expected a profit of 2.514 million, according to Reuters compilation.

49.689 million, compared with 43.619 million a year earlier.

the Board proposes a lowered dividend to the shareholders at 6:00 sek per share, which compares with the dividend of last year at 8:25 sek per share.

Skanska's ceo Anders Danielsson expect improved profitability in the company's construction in 2019.

”the operating Margin in Construction was 2% in the fourth quarter and in 2019, we expect that the strategic initiatives continue to improve profitability,” he writes in the Skanska year-end report for the year 2018.

Construction of the profit for the 2018 amounted to eur 1,099 million, corresponding to a margin of 0.7 per cent. Anders Danielsson denotes 2018 as a ”disappointment” in regards to the construction.

in the two projects in the united states and a major restructuring in Poland overshadows the good results in other units such as Sweden and Finland”, " he summarises.

In more general terms, type Danielsson to the ”political and macroeconomic uncertainties look set to increase further” in 2019.

”the Markets in many of our geographies and segments are now starting to level out, and it is difficult to say how long the current, relatively favourable, the conditions will prevail,” writes Skanska's president and ceo.

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