2016-07-22 10:01
STOCKHOLM (AFX) the picture is mixed in Skanska’s American operations. While the order intake is strong and the building has a good development continues Civil affected by projects running at zero margin.
It says CEO Johan Karlström Direkt.
“We have come to smaller settlements, but the big questions remain and it involves large sums. We continue to finish building these projects represents a dead volume in the current situation,” he says, adding that partial solutions, problem by problem – rather than larger settlements on a single board – usually the case in this type of discussion.
Around the ERP Skanska introduced in the US Civil continues investment and “going well” . As investments are taken through the income statement at the same time “overhead” -kostnaderna unusually high, he points out.
The strong order intake in the US during the quarter was “not only of La Guardia.” Skanska has “a lot more in the United States.” The delayed and offset projects that Skanska has seen in the pipeline in recent quarters has now rendered in orders, according to Johan Karlström.
Regarding Poland, Skanska has been focused on small and medium-sized EU-funded projects where the market “very quickly” has been weakened. This has resulted in overcapacity and Skanska shifting operations towards greater infrastructure objects.
Skanska has not seen any canceled orders in the UK as a result of Brexit. The weaker order intake in the market is “in no way related to Brexit”.
“It’s all about timing when big projects coming in,” he says and mentions that Skanska projects from public sector in its pipeline. From the public side, there has rather been signs of infrastructure investments to offset the downturn due to Brexit, he argues.
Private British actors in building construction, by contrast, put new projects on hold due to uncertainty mesmerized EU referendum, he maintains.
“You can tell where an awaiting to see how the banking and financial market develops,” he said.
Would exodus from the UK take place is an interesting European market in Warsaw, he adds.
The low interest rates that looks set to continue for some time in the Brexit gives further strong demand for the properties that Skanska develops and sells.
“the low interest rate environment will ensure good sales gains. We see low yields. Get investment kind sustains, real estate, however, is one,” he says, adding that the demand for infrastructure projects continues to be “very strong and good.”
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