Earnings

Skanska fourth-quarter operating profit, 2018 dividend lag expectations

Reuters with CNBC.com
Key Points
  • Operating profit at the Nordic region's biggest builder, and one of the biggest in the United States, was 2.38 billion crowns ($257 million) against a mean forecast in a Reuters poll of analysts for 2.64 billion.
  • A year earlier, the profit was 738 million.
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Swedish builder Skanska reported on Friday a smaller rise than expected in fourth-quarter operating profit and proposed a lower dividend than expected.

Operating profit at the Nordic region's biggest builder, and one of the biggest in the United States, was 2.38 billion crowns ($257 million) against a mean forecast in a Reuters poll of analysts for 2.64 billion. A year earlier, the profit was 738 million.

"We can see — still — a big demand going forward. If you look at the U.S., the maintenance and the investment in infrastructure is incredibly large going forward," Anders Danielsson, CEO of Skanska, told CNBC's "Squawk Box Europe" on Friday.

"So, we don't really see a slowdown within the market that we are active in the U.S.," he added.

Skanska proposed a dividend of 6.00 crowns per share, down from 8.25 crowns and below the 8.35 crowns seen by analysts.

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