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

SKANSKA AB

(SKA B)
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Skanska : invests USD 65 M, about SEK 570 M, in its first Los Angeles office development project located in Beverly Hills

10/29/2020 | 01:31am EST

Skanska invests approximately USD 65 M, about SEK 570 M, in its first Los Angeles office development project located in Beverly Hills. The construction contract is worth about USD 33.3 M, about SEK 290 M, which will be included in the US order bookings for the fourth quarter 2020.

Located at 9000 Wilshire Boulevard in Beverly Hills, California, Skanska plans to develop and build a four-story, 4,270 square meter office building with roof top terrace and four below grade parking levels. The project will target LEED® Platinum certification.

Skanska expects to begin construction in the end of October 2020 and the project is scheduled to be completed in third quarter of 2022.

Since 2009, Skanska USA Commercial Development has invested more than USD 2 billion in office and multi-family projects, and has developed office headquarters for tenants including, Waste Management Inc., Bank of America, Brooks Sports, PricewaterhouseCoopers and Tommy Bahama.

Skanska is one of the leading construction and development companies in USA, specializing in building construction, civil infrastructure and developing commercial properties in select U.S. markets. Skanska USA had sales of SEK 74 billion and about 7,900 employees in its operations in 2019.

For further information please contact:

Alicia Jones, Director - Communications, Skanska USA, tel + 1 703 835 2762

Jacob Birkeland, Head of Media Relations & Public Affairs, Skanska AB, tel + 46 (0)10 448 67 94

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 a world leader in construction and project development on select markets in the Nordic region, Europe and USA. Driven by the Group's values, Skanska wants to contribute to a better society. Skanska provides innovative, sustainable solutions for both simple and complex assignments. Skanska has about 35,000 employees, and 2019 revenue totalled SEK 177 billion.

https://news.cision.com/skanska/r/skanska-invests-usd-65-m--about-sek-570-m--in-its-first-los-angeles-office-development-project-locat,c3227355

https://mb.cision.com/Main/95/3227355/1327451.pdf

(c) 2020 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2020 159 B 18 373 M 18 373 M
Net income 2020 7 460 M 864 M 864 M
Net cash 2020 5 219 M 605 M 605 M
P/E ratio 2020 11,3x
Yield 2020 3,01%
Capitalization 84 161 M 9 729 M 9 749 M
EV / Sales 2020 0,50x
EV / Sales 2021 0,47x
Nbr of Employees 33 282
Free-Float 84,1%
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Average target price 207,20 SEK
Last Close Price 204,20 SEK
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Anders Danielsson President & Chief Executive Officer
Hans Torsten Gunnar Biörck Chairman
Magnus Persson Chief Financial Officer & Executive VP
Izabela Surmacz Senior Vice President-Information Technology
Lena Charlotte Strömberg Independent Director
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