Slide 1: Fourth quarter report 2025
Port 7 Prague Czechia Fourth quarter report 2025 We build for a better society
Slide 2: Group performance
Port 7 Prague Czechia Fourth quarter report 2025 • Group performance • Construction ending the year on a strong note, all-time high full year result • Mixed performance in Residential Development, starting new projects in the Nordics • Good divestment activity in Commercial Property Development • So
Slide 3: Construction
E16 Slussen Bjørum-Skaret Stockholm Norway Construction Sweden • Revenue SEK 43.9 bn (47.0) • Order bookings SEK 43.5 bn (49.6) – Book-to-build 105%, R-12 – Order backlog SEK 257.9 bn (285.0) • Operating income SEK 2,478 M (2,126) – Operating margin 5.6% (4.5) • Strong fourth quarter result, all mar
Slide 4: Residential Development
Täby Powerhouse Park Stockholm Residential Development Lade Trondheim Sweden Norway • Revenue SEK 1.7 bn (2.4) – 379 (573) homes sold – 376 (620) homes started • Operating income SEK 30 M (196) • ROCE 4.6 (1.6), R-12 • Strong sales and profitability in Central Europe and weak results in the Nordics
Slide 5: Commercial Property Development
Nowy Rynek E Poznań Poland Commercial Property Development • Operating income SEK 670 M (332) – Gain on sale SEK 758 M (561) – ROCE 1.0% (3.0), R-12 • 16 ongoing projects – SEK 14.4 bn total investment • 21 completed projects – SEK 19.1 bn total investment – 72% leased • Eight projects divested in Q
Slide 6: Investment Properties
Studio Sthlm01phase Stockholm Investment Properties 2 Warsaw Sweden Poland • Operating income of SEK 83 M (74) • Economic occupancy rate at 85 percent (83 end of Sept) • Portfolio consists of seven high-quality office properties with a total property value of SEK 8.3 billion • Solid performance in Q
Slide 7: Construction: Order bookings
South Brooklyn Marine Terminal NYC USA Construction Order bookings SEK bn % 300 140 250 120 Order backlog 100 200 80 Order bookings, R-12 150 60 Order bookings per 100 40 quarter 50 20 Revenue, R-12 0 0 Book-to-build %, R-12 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021 2022 2023
Slide 8: Construction: Order bookings by region
South Brooklyn Marine Terminal NYC USA Construction Order bookings Book-to- Months of SEK bn Oct-Dec 2025 Oct-Dec 2024 build (R-12), % production Nordics 12.5 16.0 105 15 of which Sweden 7.1 8.3 101 12 Europe 4.6 6.5 110 15 USA 26.5 27.0 103 23 Total 43.5 49.6 105 19 2/6/2026 Skanska Q4 report 2025
Slide 9: Construction: Income statement
South Brooklyn Marine Terminal NYC USA Construction Income statement Operating margin, R-12, % Revenue, R-12, SEK bn 6 Revenue 200 5 150 4 3 100 2 Operating margin 50 1 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021 2022 2023 2024 2025 Oct-Dec Oct-Dec Jan-Dec Jan-Dec SEK bn 202
Slide 10: Construction: Income statement by region
South Brooklyn Marine Terminal NYC USA Construction Income statement Operating income, SEK M Operating margin, % Oct-Dec 2025 Oct-Dec 2024 Oct-Dec 2025 Oct-Dec 2024 Nordics 852 693 5.1 4.4 of which Sweden 453 419 4.9 4.7 Europe 354 292 4.8 4.2 USA 1,271 1,141 6.4 4.7 Total 2,478 2,126 5.6 4.5 2/6/20
Slide 11: Residential Development: Income statement, segment reporting
Täby Park Stockholm Sweden Residential Development Income statement, segment reporting Operating margin, R-12, % Revenue, R-12, SEK bn 20 20 Operating margin 10 15 0 10 -10 -20 Revenue 5 -30 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021 2022 2023 2024 2025 Oct-Dec Oct-Dec Jan-De
Slide 12: Residential Development: Income statement
Täby Park Stockholm Sweden Residential Development Income statement Operating income, SEK M Operating margin, % Oct-Dec 2025 Oct-Dec 2024 Oct-Dec 2025 Oct-Dec 2024 Nordics -23 70 -2.0 5.4 of which Sweden 11 -6 2.0 -0.7 Europe 54 126 10.7 11.0 Total 30 196 1.8 8.0 2/6/2026 Skanska Q4 report 2025 12
Slide 13: Residential Development: Homes started and sold
Täby Park Stockholm Sweden Residential Development Homes started and sold Homes, R-12 4,500 4,000 3,500 3,000 2,500 2,000 Sold 1,500 1,000 500 Started 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021 2022 2023 2024 2025 Homes started Homes sold Oct-Dec Oct-Dec Jan-Dec Jan-Dec Oct-D
Slide 14: Residential Development: Homes in production
Täby Park Stockholm Sweden Residential Development Homes in production Homes % 8,000 100 7,000 90 80 6,000 70 5,000 60 4,000 50 3,000 40 30 2,000 20 1,000 10 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021 2022 2023 2024 2025 Sold under construction Unsold under construction Uns
Slide 15: Commercial Property Development: Income statement, segment reporting
Nowy Rynek E Poznań Poland Commercial Property Development Income statement, segment reporting Oct-Dec Oct-Dec Jan-Dec Jan-Dec SEK M 2025 2024 2025 2024 Revenue 4,965 3,576 8,099 11,225 Gross income 882 559 971 1,958 Selling and administrative expenses -208 -228 -705 -836 Income from JV's and associ
Slide 16: Unrealized and realized gains, segment reporting
Nowy Rynek E Poznań Poland Commercial Property Development Unrealized and realized gains, segment reporting SEK bn 14 12 10 8 6 4 2 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021 2022 2023 2024 2025 Unrealized gains in: Land Ongoing projects at completion Completed projects Reali
Slide 17: Completion profile and unsold projects
Nowy Rynek E Poznań Poland Commercial Property Development Completion profile and unsold projects SEK bn % 98 100 72 18 100 16 90 14 80 58 61 70 12 60 10 45 50 8 40 6 30 4 20 0 2 10 0 0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2026 2027 2028 Completed projects Ongoing offices Ongoing residential renta
Slide 18: Leasing Commercial Properties
Nowy Rynek E Poznań Poland Commercial Property Development Leasing Commercial Properties 000 sq m % 550 100 500 90 450 80 400 70 350 60 300 50 250 40 200 150 30 100 20 50 10 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021 2022 2023 2024 2025 Leasing, R-12 Economic occupancy rate
Slide 19: Investment Properties: Income statement
Sthlm01 Stockholm Sweden Investment Properties Income statement Oct-Dec Oct-Dec Jan-Dec Jan-Dec SEK M 2025 2024 2025 2024 Revenue 118 114 472 363 Operating net 87 77 346 264 Selling and administrative expenses -5 -6 -13 -14 Change in property value - 4 53 61 Operating income 83 74 386 311 Eonomic Le
Slide 20: Group Income Statement
Port 7 Prague Czechia Group Income Statement Oct-Dec Oct-Dec Jan-Dec Jan-Dec SEK m 2025 2024 2025 2024 Operating income from business streams 3,261 2,728 8,190 7,338 Central -281 -127 -712 -440 Eliminations 1 149 -235 188 Operating income 2,981 2,749 7,241 7,086 Net financial items 141 177 686 661 I
Slide 21: Group Cash flow
Port 7 Prague Czechia Group Cash flow SEK bn 20 15 10 Cash flow from 5 business 0 operations, quarterly -5 Rolling 12 -10 months Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021 2022 2023 2024 2025 Oct-Dec Oct-Dec Jan-Dec Jan-Dec SEK bn 2025 2024 2025 2024 Operating cash flow from op
Slide 22: Construction: Free working capital
South Brooklyn Marine Terminal NYC USA Construction Free working capital SEK bn % 40 21 35 18 30 15 25 12 20 9 15 6 10 5 3 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021 2022 2023 2024 2025 Free working capital, SEK bn Average free working capital/ Construction revenue, R-12, %
Slide 23: Investments, divestments and capital employed
Port 7 Prague Czechia Group Investments, divestments and capital employed SEK bn 15 10 5 Investments, quarterly 0 Divestments, -5 quarterly Net divestments, R- -10 12 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021 2022 2023 2024 2025 SEK bn Dec 31, 2025 Dec 31, 2024 Capital employe
Slide 24: Available funds and maturity profile
Port 7 Prague Czechia Group Available funds: SEK 28.6 bn, o/w unutilized credit facilities SEK 9.6 bn Maturity profile Central funding 3.0 2.5 2.0 42% SEK 7.9 bn 1.5 58% 1.0 0.5 Bilateral loans 0.0 Bonds 2026 2027 2028 2029 2030 Bilateral loans Bonds (MTN) 2/6/2026 Skanska Q4 report 2025 24
Slide 25: Financial position
Port 7 Prague Czechia Group Financial position Adjusted interest-bearing net receivables(+)/net debt(-), SEK bn 20 15 10 5 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021 2022 2023 2024 2025 Dec 31, Dec 31, SEK bn 2025 2024 Total assets 158.3 171.2 Equity attributable to equity ho
Slide 26: Market outlook
Port 7 Prague Czechia Market outlook Construction • The US civil market remains strong and well-funded. The US building market is fragmented but our broad capabilities and footprint provide stability. • Civil market more active than building market in Europe and the Nordics • Building of secure and
Slide 27: Group targets and limits
Group targets and limits Financial targets over time Construction stream Project Development streams Investment Properties Operating margin Return on capital employed Return on capital employed Current Outcome Target Outcome Target Outcome target ≥4.0% 4.1% ≥10% 1.8% ≥6% 4.7% Group Group Group Retur
Slide 28: Skanska Q4 report 2025
2/6/2026 Skanska Q4 report 2025 28