Construction Revenue in its Construction division amounted to SEK81,673m, a decrease of 1%, but an increase of 7% adjusted for currency rate effects.
Operating income in construction amounted to SEK2,680m, down from 3,100m, - a decline of 14 percent in Swedish kronor, while the decrease in local currencies amounted to 6 percent. Operating margin fell to 3.3%, from 3.8%. Currency rate effects reduced income by SEK220m.
Total Group income after financial items amounted to SEK7,770m, from 4,054m, while profit for the period totalled SEK7,083m, compared with 2,960m.
Order bookings totalled SEK82.6bn, down from SEK101.3bn. The comparative period of 2010 included SEK14.5bn in order bookings for New Karolinska Solna. However, the Group said that order bookings increased compared to the two last quarters and amounted to SEK 34.1bn in the third quarter, an increase by 26% in local currencies compared to the third quarter of 2010.
Skanska's total order backlog amounted to SEK 147.5bn, compared with SEK147.9bn - equivalent to 15 months of construction.
UK construction business delivering good earnings and margins
During the first nine months of 2011, order bookings were higher than revenue in the Group's Construction operations. Skanska said construction operations in the United Kingdom were continuing to deliver good earnings and margins. However, while civil construction remains stable in most of Skanska's markets, the number of bidders is still large, and the company can see an increased presence from international players in several of its markets, which it said means tight bidding margins.
On infrastructure development, Skanska attributed a general reduction in the supply of new public-private partnership (PPP) projects in the U.K. to the tightening of British public expenditures. However, the firm said there is increased regional interest in PPP projects in Scotland.
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