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

SKANSKA

(SKA B)
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Skanska : develops and sells hotel in Kiruna, Sweden, for about SEK 500 million

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11/09/2018 | 08:01am EDT

Skanska develops and builds a new hotel in central Kiruna, Sweden, with Scandic hotels as operator. The hotel is sold to LKAB that will take over the building at the completion in the autumn 2021. The hotel is developed by Skanska Sweden. The sales value is about SEK 500 million, which will be booked in the Commercial Property Development stream in the second quarter of 2019.

The construction contract is worth about SEK 400 million, which will be included in the order bookings for Skanska Sweden for the second quarter of 2019.

The new hotel will be built next to the town Hall on the square in the new central Kiruna. The hotel will have 14,000 square meters and 13 floors, with 231 rooms, restaurant, conference rooms, gym and relaxation area, and a sky bar.

The hotel operator Scandic Hotels has signed a 20-year lease for the hotel, which will be at the forefront in terms of sustainability. The intention is to certify the building according to LEED. Construction start is scheduled for April 2019. The hotel will be ready in October 2021.

Skanska is one of the leading development and construction companies in the Nordics, with operations in building construction and civil engineering in Sweden, Norway and Finland, and developing residential- and commercial property projects in select home markets. The commercial development stream is also active in Denmark. Skanska offers services in public-private partnerships. Skanska had sales of about SEK 65 billion and more than 15,000 employees in its Nordic operations during 2017.

For further information please contact:

Patric Elmén, acting Head of Media Relations, tel +46 (0) 10 449 31 34

Bernt Lundstedt, projektutvecklare, Skanska Sverige AB, tel +46 (0) 70 662 88 29

Direct line for media, tel +46 (0)10 448 88 99

This and previous releases can also be found at www.skanska.com.

Skanska is one of the world's leading construction and project development companies, focused on selected home markets in the Nordic region, Europe and USA. Supported by global trends in urbanization and demographics, and by being at the forefront in sustainability, Skanska offers competitive solutions for both simple and the most complex assignments, helping to build a sustainable future for customers and communities. The Group has about 40,000 employees. Skanska's sales in 2017 totaled SEK 161 billion.

http://news.cision.com/skanska/r/skanska-develops-and-sells-hotel-in-kiruna--sweden--for-about-sek-500-million,c2668342

http://mb.cision.com/Main/95/2668342/942042.pdf

http://news.cision.com/skanska/i/20181109-se-kiruna-hotel---image-by-sandellsandberg,c2525221

(c) 2018 Cision. All rights reserved., source Press Releases - English

Stocks mentioned in the article
ChangeLast1st jan.
SCANDIC HOTELS GROUP AB -3.89% 84.05 Delayed Quote.7.62%
SKANSKA -0.29% 170.5 Delayed Quote.20.92%
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Financials (SEK)
Sales 2019 163 B
EBIT 2019 6 108 M
Net income 2019 5 162 M
Finance 2019 2 944 M
Yield 2019 4,23%
P/E ratio 2019 13,95
P/E ratio 2020 13,05
EV / Sales 2019 0,40x
EV / Sales 2020 0,39x
Capitalization 68 229 M
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Average target price 165  SEK
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Anders Danielsson President & Chief Executive Officer
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