Sweden's Skanska reports in-line profit on strong construction demand

Skanska AB

07/05/2026 07:34

May 7 (Reuters) - Swedish builder Skanska SKAb.ST posted fourth-quarter profit broadly in line with market expectations on Thursday, citing solid construction performance and strong property development, but said that the Nordic housing market remained subdued.

Here are some details:

Operating profit rose to 1.14 billion Swedish crowns ($123.4 million) from 1.08 billion crowns a year earlier, while  analysts polled by LSEG expected a profit of 1.13 billion crowns.

Q1 construction order bookings grew 5% in local currencies to 37.6 billion crowns.

The company said its order backlog remains "historically high" at 267.5 billion crowns, equal to around 19 months of work.

Data centers and tech-related facilities drove demand, with orders worth 6.9 billion crowns booked in Q1.

Property recovery was mixed during the quarter: commercial improved, while Nordic residential activity remained weak.

Skanska said that macro uncertainty continued to weigh on the U.S. commercial property market.

It expects construction markets to remain stable and housing activity to recover gradually, but warned that geopolitical uncertainty continues to cloud the broader outlook.

($1 = 9.2385 Swedish crowns)

 (Reporting by Agnieszka Gosciak-Rabalska, editing by Sonia Cheema)

 ((Agnieszka.Gosciak@thomsonreuters.com))