Skanska Year-End Report, January -- December 2003

STOCKHOLM, Sweden, Feb. 13, 2004 (PRIMEZONE) -- Skanska:

Fourth quarter of 2003 compared to fourth quarter of 2002


 -- Net sales of the Skanska Group declined by 5 percent to SEK 
    35,605 M (37,339). Adjusted for currency rate effects, net sales 
    rose by 5 percent.

 -- Operating income rose to SEK 1,277 M (-948).

 -- Gain on sale of properties in Commercial Project Development 
    amounted to SEK 645 M (249).

 -- Income after financial items rose to SEK 1,189 M (-989).

 -- Net income amounted to SEK 760 M (-1,345) and earnings per share 
    in the fourth quarter amounted to SEK 1.82 (-3.21).

 -- Order bookings declined by 35 percent to SEK 21.7 billion. 
    Adjusted for currency rate effects, order bookings fell by 31 
    percent. Order backlog amounted to SEK 116 billion, a decline 
    of 14 percent, compared to year-end 2002. Adjusted for currency 
    rate effects, order backlog decreased by 2 percent.

January -- December 2003 compared to January -- December 2002


 -- Net sales of the Skanska Group declined by 6 percent to SEK 
    132,879 M (142,033). Adjusted for currency rate effects, 
    net sales rose by 3%.

 -- Operating income rose to SEK 4,532 M (981).

 -- Gain on sale pf properties in Commercial Project Development 
    amounted to SEK 2,399 M (294).

 -- Income after financial items rose to SEK 4,072 M (73).

 -- Net income amounted to SEK 2,761 M (-837) and earnings per share
    reached SEK 6.60 (-2.00).

 -- Improved financial position. Interest-bearing net debt, which 
    amounted to SEK -9,376 M on January 1, 2003, gradually 
    decreased during the year, and at the end of 2003 had become a 
    net cash position of SEK 150 M.

 -- Capital employed shrank to SEK 24.5 billion (31.6).

 -- Cash flow from business operations rose to SEK 9,970 M (1,966).

 -- The Board of Directors proposes a dividend of SEK 3.00 (2.00) 
    per share for the 2003 financial year.

Skanska Year-End Report, January -- December 2003

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