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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  Skanska    SKA B   SE0000113250

SKANSKA

(SKA B)
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Skanska : Lands $365M Contract for NY Rail Facility

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01/12/2019 | 10:30am EDT

Skanska will begin construction of the final phase of the multi-million dollar rebuilding of the Metropolitan Transportation Authoritys century-old Croton-Harmon Shops and Yards complex in Westchester County, N.Y. Under a design-build contract valued at $365.1 million awarded to a joint venture of Skanska and ECCO, Skanksa will demolish two obsolete structures used for train maintenance and replace them with a new facility to service Metro-North Railroads electric fleet.

As part of the process aimed at reducing cost and saving time, Skanska was contracted to design and build the new structure. The projectthe last of a three-phase demolition and construction developmentis slated for completion in 2022.

We recognize the importance of ensuring our regional transportation infrastructure remains world-class and are proud to be chosen to complete such a central project for Metro-North, Michael Viggiano, executive vice president of Skanska USA Civil, said in a prepared statement.

PHASE ONE AND TWO

In 2007, Skanska completed a new $14 million wheel truing facility for wheel maintenancethe first of its kind in North America that can smooth four wheels simultaneously. It also added new Coach and Locomotive Repair Shops as part of a $282 million improvement project and is nearing completion of a separate $245 million contract to build a new Train Consist Shop Facility and Component Repair Shop, which will be used to repair and rebuild wheelsets for Metro-Norths fleet. The consist shop allows an entire train, known as a consist, to enter the facility without having to remove and reattach train cars, saving time and creating a safer environment for crews.

Metro-North is the MTAs main commuter line on the east side of the Hudson River in New York and Connecticut. The Croton-Harmon yard is a 100-acre complex along the Hudson River that was built in the early 1900s and serves as the railroads primary service, repair and maintenance facility.

Its impossible to operate the railroad safely and efficiently without a well-maintained fleet. The Croton-Harmon Shops and Yard Replacement project brings an antiquated facility into the 21st century, ensuring we continue to provide the best possible service to our customers for generations to come, Metro-North President Catherine Rinaldi said in a separate news release.

NY INFRASTRUCTURE PROJECTS

Skanska has played a role in many of the New York regions major infrastructure projects in recent years. More than 500 Skanska employees worked on the first phase of New York Citys new Second Street Subway that debuted on Jan. 1, 2017, with three stations. Other recent projects include the World Trade Center Transportation Hub and Oculus, the reconstruction of LaGuardia Airports Terminal B and the renovation of the Moynihan Train Hall in Manhattan. In June 2017, Skanska began the $1.6 billion Phase Two of the train hall project, converting the historic James A. Farley Post Office Building into an addition to Penn Station. Skanska, which also built Phase One of the project between 2012 and 2017, was paid approximately $1.3 billion for Phase Two. It is scheduled for completion in 2020.

(c) 2019 All Rights Reversed for Saudi Press Agency Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (SEK)
Sales 2019 164 B
EBIT 2019 6 108 M
Net income 2019 5 153 M
Finance 2019 3 618 M
Yield 2019 4,24%
P/E ratio 2019 14,06
P/E ratio 2020 13,15
EV / Sales 2019 0,40x
EV / Sales 2020 0,39x
Capitalization 68 769 M
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Mean consensus HOLD
Number of Analysts 8
Average target price 163  SEK
Spread / Average Target -5,1%
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Anders Danielsson President & Chief Executive Officer
Hans Torsten Gunnar Biörck Chairman
Magnus Persson Chief Financial Officer
Jaroslaw Urbanczyk Senior Vice President-Information Technology
Lena Charlotte Strömberg Independent Director
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