Slide 1: Second quarter report 2025
Nasdaq MarketSite NYC USA Second quarter report 2025 We build for a better society
Slide 2: A robust second quarter
Nasdaq MarketSite NYC USA Second quarter report 2025 • A robust second quarter • Construction – Good order intake. Strong margins generated by a solid project portfolio. • Residential Development – Strong sales and margins in Central Europe. Nordic markets remain weak. • Commercial Property Developm
Slide 3: Construction
Campus Slussen Stockholm Ullevål Oslo Construction Sweden Norway • Revenue SEK 43.1 bn (43.6) • Order bookings SEK 56.7 bn (60.7) – Book-to-build 113%, R-12 – Order backlog SEK 268.3 bn (267.6) • Operating income SEK 1,672 M (1,542) – Operating margin 3.9% (3.5) • Strong results and high margins acr
Slide 4: Residential Development
Powerhouse Emil Kolben Lade Residential Development District Trondheim Prague Czechia Norway • Revenue SEK 2.0 bn (2.2) – 409 (515) homes sold – 420 (37) homes started • Operating income SEK 226 M (-11) • ROCE 3.6 (-5.2), R-12 • Central Europe recording two big project starts and delivering more tha
Slide 5: Commercial Property Development
The Heming Tysons USA Commercial Property Development • Operating income SEK 86 M (1,067) – Gain on sale SEK 215 M (1,191) – ROCE 0.7% (0.1), R-12 • 12 ongoing projects – SEK 13,7 bn total investment • 23 completed projects – SEK 18.0 bn total investment – 74% leased • Divesting Equilibrium 1 in Buc
Slide 6: Investment Properties
Studio Oas Malmö phase Investment Properties Sweden 2 Warsaw Poland • Operating income of SEK 80 M (108) • Economic occupancy rate at 83 percent (Mar 31 2025: 84) • Total portfolio property value SEK 8.2 bn (Mar 31 2025: 8.2) 7/18/2025 Skanska Q2 report 2025 6
Slide 7: Construction: order bookings
Campus Ullevål Oslo Norway 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 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2021 2022 2023 2024 2025 Ap
Slide 8: Construction: order bookings by region
Campus Ullevål Oslo Norway Construction Order bookings Book-to- Months of SEK bn Apr-Jun 2025 Apr-Jun 2024 build, % production Nordics 19.7 14.0 107 16 of which Sweden 9.6 8.5 109 13 Europe 10.5 4.5 117 17 USA 26.5 42.1 116 22 Total 56.7 60.7 113 19 7/18/2025 Skanska Q2 report 2025 8
Slide 9: Construction: income statement
Campus Ullevål Oslo Norway 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 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2021 2022 2023 2024 2025 Apr-Jun Apr-Jun Rolling 12 Jan-Dec SEK bn 2025 2024 mo
Slide 10: Construction: operating income by region
Campus Ullevål Oslo Norway Construction Income statement Operating income, SEK M Operating margin, % Apr-Jun 2025 Apr-Jun 2024 Apr-Jun 2025 Apr-Jun 2024 Nordics 597 496 4.2 3.3 of which Sweden 326 309 4.2 4.0 Europe 276 231 4.0 3.8 USA 798 814 3.7 3.6 Total 1,672 1,542 3.9 3.5 7/18/2025 Skanska Q2 r
Slide 11: Residential Development: income statement, segment reporting
Emil Kolben District Prague Czechia Residential Development Income statement, segment reporting Operating margin, R-12, % Revenue, R-12, SEK bn 20 20 10 15 Operating margin 0 10 -10 -20 Revenue 5 -30 0 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2021 2022 2023 2024 2025 Including res
Slide 12: Residential Development: income statement
Emil Kolben District Prague Czechia Residential Development Income statement Operating income, SEK M Operating margin, % Apr-Jun 2025 Apr-Jun 2024 Apr-Jun 2025 Apr-Jun 2024 Nordics 10 0 1.1 0.0 of which Sweden -2 -51 -0.3 -6.7 Europe 216 -10 19.8 -2.5 Total 226 -11 11.3 -0.5 7/18/2025 Skanska Q2 rep
Slide 13: Residential Development: homes started and sold
Emil Kolben District Prague Czechia Residential Development Homes started and sold Homes, R-12 5,000 4,500 4,000 3,500 3,000 2,500 Sold 2,000 1,500 1,000 500 Started 0 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2021 2022 2023 2024 2025 Including residential rentals until Q4 2020 Hom
Slide 14: Residential Development: homes in production
Emil Kolben District 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 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2021 2022 2023 2024 2025 Sold under construction Unsold under constru
Slide 15: Commercial Property Development: income statement
The Heming Tysons USA Commercial Property Development Income statement, segment reporting Apr-Jun Apr-Jun Rolling 12 Jan-Dec SEK bn 2025 2024 months 2024 Revenue 1,043 6,293 5,958 11,225 Gross income 250 1,259 1,000 1,959 Selling and administrative expenses -165 -190 -796 -836 Income from JV's and a
Slide 16: Commercial Property Development: unrealized and realized gains
The Heming Tysons USA Commercial Property Development Unrealized and realized gains, segment reporting SEK bn 14 12 10 8 6 4 2 0 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2021 2022 2023 2024 2025 Unrealized gains in: Land Ongoing projects at completion Completed projects Realized g
Slide 17: Commercial Property Development: completion profile and unsold projects
The Heming Tysons USA Commercial Property Development Completion profile and unsold projects SEK bn % 74 95 20 100 18 90 16 80 14 70 56 12 60 10 50 36 8 40 6 21 30 4 20 0 2 0 0 10 0 0 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2025 2026 2027 2028 Completed projects Ongoing offices Ongoing residential re
Slide 18: Commercial Property Development: leasing
The Heming Tysons USA 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 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2021 2022 2023 2024 2025 Leasing, R-12 Economic occupancy rate, ong
Slide 19: Investment Properties: income statement
Oas Malmö Sweden Investment Properties Income statement Apr-Jun Apr-Jun Rolling 12 Jan-Dec SEK M 2025 2024 months 2024 Revenue 118 72 455 363 Operating net 85 54 325 264 Selling and administrative expenses -5 -4 -15 -14 Change in property value - 58 4 61 Operating income 80 108 313 311 Eonomic Leasa
Slide 20: Group income statement
Nasdaq MarketSite NYC USA Group Income Statement Apr-Jun Apr-Jun Rolling 12 Jan-Dec SEK m 2025 2024 months 2024 Operating income from business streams 2,064 2,706 7,343 7,339 Central -270 -159 -595 -440 Eliminations 19 33 160 188 Operating income 1,813 2,580 6,907 7,087 Net financial items 130 146 6
Slide 21: Group cash flow
Nasdaq MarketSite NYC USA Group Cash flow SEK bn 20 15 10 Cash flow from 5 business 0 operations, quarterly -5 Rolling 12 -10 months Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2021 2022 2023 2024 2025 Apr-Jun Apr-Jun Rolling 12 Jan-Dec SEK bn 2025 2024 months 2024 Operating cash flo
Slide 22: Construction: free working capital
Campus Ullevål Oslo Norway Construction Free working capital SEK bn % 40 21 35 18 30 15 25 12 20 9 15 6 10 5 3 0 0 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2021 2022 2023 2024 2025 Free working capital, SEK bn Average free working capital/ Construction revenue, R-12, % Free workin
Slide 23: Investments, divestments and capital employed
Nasdaq MarketSite NYC USA Group Investments, divestments and capital employed SEK bn 20 15 10 Investments, 5 quarterly 0 Divestments, quarterly -5 Net divestments, -10 R-12 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2021 2022 2023 2024 2025 SEK bn Jun 30, 2025 Jun 30, 2024 Dec 31, 2
Slide 24: Group funding and maturity profile
Nasdaq MarketSite NYC USA Group Available funds*: SEK 28.1 bn, o/w unutilized credit facilities SEK 9.8 bn Maturity profile Central funding 3.0 2.5 2.0 39% SEK 8.7 bn 1.5 61% 1.0 0.5 Bilateral loans 0.0 Bonds 2025 2026 2027 2028 2029 2030 Bilateral loans Bonds (MTN) *Available funds include short te
Slide 25: Group financial position
Nasdaq MarketSite NYC USA Group Financial position Adjusted interest-bearing net receivables(+)/net debt(-), SEK bn 20 15 10 5 0 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2021 2022 2023 2024 2025 Jun 30, Jun 30, Dec 31, SEK bn 2025 2024 2024 Total assets 161.7 161.5 171.2 Equity at
Slide 26: Market outlook
Nasdaq MarketSite NYC USA Market outlook Construction • The US civil market remains strong and well-funded through existing federal funding programs and the US building market is stable • Civil market more active than building market in Europe and the Nordics • Civil market in Sweden gradually stron
Slide 27: Summary
Nasdaq MarketSite NYC USA Group Summary • A robust second quarter • Construction – Good order intake. Strong margins generated by a healthy project portfolio. • Residential Development – Central Europe performing well. Nordic markets remain weak. • Commercial Property Development – One divestment re
Slide 28: Skanska Q2 report 2025
7/18/2025 Skanska Q2 report 2025 28