Skanska adapts volume decline

Measures are to be taken by Skanska to adapt to an anticipated decline in activities in the Nordic area. The measures are expected to affect 2,000 employees in Sweden and 1,400 in the remainder of the Nordic region at a cost of approximately €56 million, says the company. In Skanska’s nine-month report for 2008, the group announced that several construction and residential development markets are weakening. A review of the current order backlog and anticipated order bookings has indicated a volume decline o
July 6, 2012 Read time: 1 min
Measures are to be taken by 2296 Skanska to adapt to an anticipated decline in activities in the Nordic area.

The measures are expected to affect 2,000 employees in Sweden and 1,400 in the remainder of the Nordic region at a cost of approximately €56 million, says the company.

In Skanska’s nine-month report for 2008, the group announced that several construction and residential development markets are weakening. A review of the current order backlog and anticipated order bookings has indicated a volume decline of about 15% in the Nordic region in 2009. The main reason is the extremely sharp decline in the residential markets, but a weakening of other building segments is also anticipated. The volume decline for Skanska in other geographic markets is expected to be significantly lower.

For more information on companies in this article

Related Content

  • STRABAG reports satisfactory financial performance
    February 22, 2016
    Construction firm STRABAG says that its performance in the 2015 financial year was ‘satisfactory’ and that its outlook for 2016 is positive. “We closed an overall satisfactory year in 2015 with a higher output volume on nearly unchanged employee levels and a lower order backlog. In 2016 we want to maintain the output volume at its high level and raise our EBIT margin to 3%. Thanks to our improved risk management and cost reductions, we are confident that we will reach this goal after having also succeeded i
    Read More
  • Wacker Neuson’s strong results reflect demand for small equipment
    November 12, 2015
    The latest financial results for Wacker Neuson reveal strong demand for compact construction machines. The firm has reported revenue in excess of €1 billion for the first nine months of 2015. This marks an increase in business activity compared to the same period last year and a record high for the group. In light of the downturn in key markets in the third quarter, the company revised its forecast for 2015 downwards. However, it still expects to achieve record revenue business levels for 2015.
    Read More
  • Strabag reports output volume remained flat for year end 2014
    February 16, 2015
    Austrian construction giant Strabag reported output volume of €13.6 billion to year end 2014 was unchanged from last year. The publically listed group, with headquarters in Vienna, said declines in contracts in some countries were offset with increases in the home markets of Germany and Austria, despite a “very restrained tender award policy” for the public sector. Large projects were completed in Romania and Russia at the same time that newly acquired orders in these markets have not yet come on stream.
    Read More
  • Strabag Q1 revenue dips 7% but EBITDA improves 13%
    June 6, 2016
    Vienna-based Strabag reported output volume of nearly €2,257 million in the first quarter of 2016 financial year, a decline of 9%. However, Q1 EBITDA (earnings before interest, taxes, depreciation and amortisation) improved by 13% to €-57.71 million. The order backlog also decreased on the year, coming to rest at €13,976.62 million on 31 March 2016 – an 8% decline versus the first quarter of 2015. The number of employees fell by 3% to 68,808. This reduction took place almost entirely among blue-col
    Read More

Highlighted Content