Skanska Ab Class B · OMXSTO:SKA_B
Skanska Ab Class B — Q1 2026 Earnings Presentation
28 slides from Skanska Ab Class B's earnings presentation, May 7, 2026
Slide 1: First quarter report 2026
Port 7 Prague Vincent ThomasCzechia Bridge Los Angeles USA First quarter report 2026 We build for a better society
Slide 2: First quarter report 2026
Vincent Thomas Bridge Los Angeles USA First quarter report 2026 • Group performance - solid start to the year • Construction started the year on a good note, delivering a strong first quarter margin • Residential Development strengthened by Central Europe, while the Nordic markets remain soft • Two
Slide 3: Construction
105 Slussen Victoria Stockholm Construction Street London SwedenUK • Revenue SEK 36.7 bn (41.8) • Order bookings SEK 37.6 bn (39.3) – Book-to-build 107%, R-12 – Order backlog SEK 267.5 bn (263.6) • Operating income SEK 1,104 M (1,179) – Operating margin 3.0% (2.8) • Healthy results in the seasonally
Slide 4: Residential Development
Albatros Powerhouse Kbley Residential Development Lade Prague Trondheim CzechiaNorway • Revenue SEK 1.4 bn (1.5) – 361 (365) homes sold – 212 (203) homes started • Operating income SEK 92 M (63) • ROCE 4.5 (1.8), 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 71 M (-100) – Gain on sale SEK 174 M (29) – ROCE 1.4% (3.2), R-12 • 17 ongoing projects – SEK 15.4 bn total investment • 18 completed projects – SEK 18.4 bn total investment – 72% leased • Two divestments in the first
Slide 6: Investment Properties
StudioTerrass Hyllie phase 2Malmö Investment Properties Warsaw Sweden Poland • Operating income of SEK 81 M (80) • Economic occupancy rate at 84 percent (85 end of Dec) • Portfolio consists of seven high-quality office properties with a total property value of SEK 8.3 billion • Solid performance in
Slide 7: Construction: Order bookings
105 Victoria Street London UK 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 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2022 2023 2024 2025 2026
Slide 8: Construction: Order bookings
105 Victoria Street London UK Construction Order bookings Book-to- Months of SEK bn Jan-Mar 2026 Jan-Mar 2025 build (R-12), % production Nordics 13.2 14.7 103 15 of which Sweden 6.5 7.5 99 12 Europe 6.7 4.6 117 15 USA 17.7 20.0 106 23 Total 37.6 39.3 107 19 5/7/2026 Skanska Q1 report 2026 8
Slide 9: Construction: Income statement
105 Victoria Street London UK 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 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2022 2023 2024 2025 2026 Jan-Mar Jan-Mar Rolling 12 Jan-Dec SEK bn 2026 2025
Slide 10: Construction: Income statement
105 Victoria Street London UK Construction Income statement Operating income, SEK M Operating margin, % Jan-Mar 2026 Jan-Mar 2025 Jan-Mar 2026 Jan-Mar 2025 Nordics 354 377 2.8 2.8 of which Sweden 149 154 2.3 2.3 Europe 82 32 1.4 0.6 USA 668 770 3.7 3.4 Total 1,104 1,179 3.0 2.8 5/7/2026 Skanska Q1 r
Slide 11: Residential Development: Income statement
Täby Albatros ParkKbley Stockholm Residential Development PragueSweden Income statement, segment reporting Czechia Operating margin, R-12, % Revenue, R-12, SEK bn 20 20 Operating margin 10 15 0 10 -10 -20 Revenue 5 -30 0 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2022 2023 2024 2025
Slide 12: Residential Development: Income statement
Albatros Kbley Prague Czechia Residential Development Income statement Operating income, SEK M Operating margin, % Jan-mar 2026 Jan-mar 2025 Jan-mar 2026 Jan-mar 2025 Nordics -46 -4 -6.5 -0.4 of which Sweden -26 4 -5.1 0.9 Europe 138 67 20.3 12.9 Total 92 63 6.6 4.2 5/7/2026 Skanska Q1 report 2026 1
Slide 13: Residential Development: Homes started and sold
Albatros Kbley Prague Czechia Residential Development Homes started and sold Homes, R-12 4,500 4,000 3,500 3,000 2,500 2,000 Started 1,500 1,000 Sold 500 0 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2022 2023 2024 2025 2026 Homes started Homes sold Jan-Mar Jan-Mar Rolling 12 Jan-Dec
Slide 14: Residential Development: Homes in production
Albatros Kbley Prague Czechia 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 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2022 2023 2024 2025 2026 Sold under construction Unsold under construction
Slide 15: Commercial Property Development: Income statement
Nowy Rynek E Poznań Poland Commercial Property Development Income statement, segment reporting Jan-Mar Jan-Mar Rolling 12 Jan-Dec SEK M 2026 2025 months 2025 Revenue 1,190 346 8,943 8,099 Gross income 285 81 1,175 971 Selling and administrative expenses -212 -181 -736 -705 Income from JV's and assoc
Slide 16: Unrealized and realized gains
Nowy Rynek E Poznań Poland Commercial Property Development Unrealized and realized gains, segment reporting SEK bn 14 12 10 8 6 4 2 0 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2022 2023 2024 2025 2026 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 % 100 100 71 20 100 18 90 16 80 67 14 64 70 12 45 60 10 50 8 33 40 6 30 4 20 2 0 10 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2026 2027 2028 2029 2030 Completed projects Ongoin
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 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2022 2023 2024 2025 2026 Leasing, R-12 Economic occupancy rate
Slide 19: Investment Properties: Income statement
Hyllie Terrass Malmö Sweden Investment Properties Income statement Jan-mar Jan-mar Rullande 12 Jan-dec SEK M 2026 2025 månader 2025 Revenue 119 116 475 472 Operating net 83 82 347 346 Selling and administrative expenses -2 -2 -13 -13 Change in property value - - 53 53 Operating income 81 80 387 386
Slide 20: Group Income Statement
Vincent Thomas Bridge Los Angeles USA Group Income Statement Jan-Mar Jan-Mar Rolling 12 Jan-Dec SEK m 2026 2025 months 2025 Operating income from business streams 1,349 1,222 8,317 8,189 Central -134 -104 -742 -712 Eliminations -77 -34 -278 -235 Operating income 1,138 1,084 7,296 7,241 Net financial
Slide 21: Group Cash flow
Vincent Thomas Bridge Los Angeles USA Group Cash flow SEK bn 15 10 5 Cash flow from business 0 operations, quarterly -5 Rolling 12 months -10 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2022 2023 2024 2025 2026 Jan-Mar Jan-Mar Rolling 12 Jan-Dec SEK bn 2026 2025 months 2025 Operating
Slide 22: Construction: Free working capital
105 Victoria Street London UK Construction Free working capital SEK bn % 40 21 35 18 30 15 25 12 20 9 15 6 10 5 3 0 0 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2022 2023 2024 2025 2026 Free working capital, SEK bn Average free working capital/ Construction revenue, R-12, % Free wor
Slide 23: Investments, divestments and capital employed
Vincent Thomas Bridge Los Angeles USA Group Investments, divestments and capital employed SEK bn 15 10 5 Investments, quarterly 0 Divestments, -5 quarterly Net divestments, R- -10 12 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2022 2023 2024 2025 2026 SEK bn Mar 31, 2026 Mar 31, 2025
Slide 24: Available funds and maturity profile
Vincent Thomas Bridge Los Angeles USA Group Available funds: SEK 27.7 bn, o/w unutilized credit facilities SEK 9.7 bn Maturity profile Central funding 3.0 2.5 2.0 43% 1.5 SEK 8.0 bn 57% 1.0 0.5 0.0 Bilateral loans Bonds 2026 2027 2028 2029 2030 Bilateral loans Bonds (MTN) 5/7/2026 Skanska Q1 report
Slide 25: Group Financial position
Vincent Thomas Bridge Los Angeles USA Group Financial position Adjusted interest-bearing net receivables(+)/net debt(-), SEK bn 20 15 10 5 0 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2022 2023 2024 2025 2026 Mar 31, Mar 31, Dec 31, SEK bn 2026 2025 2025 Total assets 163.9 163.7 158
Slide 26: Market outlook
Vincent Thomas Bridge Los Angeles USA Market outlook Construction • The US civil market remains strong and well-funded. The US building market remains stable overall, with good activity in important sectors • Civil market more active than building market in Europe and the Nordics • Short-term no mat
Slide 27: Summary
Vincent Thomas Bridge Los Angeles USA Group Summary • Group performance - solid start to the year • Construction started the year on a good note, delivering a strong first quarter margin • Residential Development strengthened by Central Europe, while the Nordic markets remain soft • Two project star
Slide 28: Skanska Q1 report 2026
5/7/2026 Skanska Q1 report 2026 28