Company Overview
Skanska AB
Skanska AB is a leading multinational project development and construction company, headquartered in Stockholm, Sweden. Established in 1887, it stands as one of the world's largest construction and development companies with operations primarily concentrated in the Nordics, Europe, and the United States. Skanska is publicly listed on NASDAQ Stockholm and is heavily involved in segments such as construction, commercial property development, and infrastructure development. For the fiscal year 2023, the company reported revenues amounting to SEK 157 billion.
Leadership Team
- Anders Danielsson, President and Chief Executive Officer since 2018, has been with Skanska since 1991, holding various leadership positions including President of Skanska USA and Skanska Norway.
- Richard Kennedy, Executive Vice President at Skanska AB and President & CEO of Skanska USA, has been instrumental in global operations since joining Skanska in 2004.
- Lena Hök, Executive Vice President responsible for Sustainability & Innovation, has been enhancing Skanska's efficiency and profitability through innovation since 2017.
- Claes Larsson serves as the Executive Vice President for Skanska Commercial Property Development Europe, with a career at Skanska starting in 1990.
- Ståle Rød, Executive Vice President, manages business units in Central Europe, UK, Norway, and Residential Development Europe, contributing since 1997.
- Therese Tegner, Executive Vice President of Human Resources, with a comprehensive background in Skanska's financial services.
- Ulrika Wester, Acting Executive Vice President and General Counsel, oversees core corporate functions and has been with the company since 2021.
Corporate Governance
Skanska maintains a robust corporate governance framework characteristic of a Swedish listed company. The governance structure predominantly includes oversight by a Board of Directors, compliance with corporate legislation, and adherence to internal governance documents. The Group Leadership Team led by the CEO, is in charge of the company's day-to-day management.
Recent Developments
Skanska's presence is marked by several high-profile projects, such as a new hospital in Fort Myers, Florida, valued at USD 435 million (approx. SEK 4.6 billion), showcasing its significant footprint in the North American market. The company remains committed to sustainability and innovation, demonstrated by its efforts in developing sustainable urban communities that consider climate and social impacts.
Key Financial Information
As of November 21, 2024, Skanska’s stock was priced at SEK 217.6 on NASDAQ Stockholm, registering a slight decrease of 0.8%.
Competitor Profile
Key Competitors
1. Granite Construction: Based in the United States, Granite Construction offers comprehensive construction services focusing on transportation, water infrastructure, and mineral exploration projects, with a yearly revenue of $3.4 billion.
2. Bechtel Group: A global contender in engineering, construction, and project management services, Bechtel operates internationally, having completed over 25,000 projects, representing strong competition for Skanska, particularly in large-scale infrastructure projects.
3. Vinci SA: As a French multinational in construction and concessions, Vinci operates in over 120 countries, utilizing an integrated approach with public-private partnerships to maintain its competitive edge in innovation and construction.
4. Balfour Beatty: This UK-based infrastructure group offers complete lifecycle services for infrastructure projects, emphasizing sustainability and holding a strong global presence.
5. STRABAG SE: A European company offering a wide range of construction services known for innovation, it operates in various segments and poses considerable competition through its financial strength and regional presence.
6. Ferrovial: An international player focusing on construction, infrastructure, and services, Ferrovial’s global operations and sustainability focus align it closely with Skanska's market strategies.
7. Peab: Concentrating on the Nordic countries, Peab presents formidable regional competition, offering an array of services in construction, civil engineering, and property development.
Competitive Positioning
Skanska faces competition from companies like Vinci and Bechtel, which possess strong brand recognition and diverse portfolios, along with specialized firms such as Granite and STRABAG that excel in niche markets like transportation infrastructure and civil engineering. Skanska's commitment to maintaining high standards in sustainability, quality, and safety serves as a critical factor in its competitive strategy. By continuously leveraging its strengths in innovation and responsible development, Skanska aims to uphold its market position and address competitive challenges from these significant industry peers.
