Skanska AB Series B

Skanska is a project development and construction group, concentrated on selected home markets in the Nordic region, European countries and in the Americas. Co.'s business streams are: construction, which includes building and civil construction; residential development, which develops residential projects for immediate sale; commercial property development, which initiates, develops, leases and divests commercial property projects, with project development focusing on office buildings, retail and logistics properties; and infrastructure development, engaged in identifying, developing and investing in privately financed infrastructure projects, such as highways, hospitals and schools.
  • TickerSKA B
  • ISINSE0000113250
  • ExchangeNasdaq Nordic Stockholm
  • SectorConstruction & Materials
  • CountrySweden

Analysts

Expert Corporate Governance Service (ECGS)

Skanska, March 28, 2019

In general, Skanska is in compliance with the Swedish regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 13, the nomination committee proposes to increase the remuneration of the board of directors by approximately 3.0%. In ECGS' view, the current fees are already at the upper level of Swedish market practice for a company with the size and complexity of Skanska and it therefore does not approve of any increases without adequate justification. Since the proposal is not adequately justified, ECGS recommends to vote OPPOSE. Under ITEMS 14a-14g, th...

Ole-Andreas Krohn ...
  • Simen Mortensen

Northern Lights

Simen Mortensen

Skanska (Sell, TP: SEK155.00) - Once bitten, twice shy

The CMD is due on 21 March at 09:30 CET (postponed from 27 November). There were six quarters with project write-downs in the US and four in Europe in 2017–2018 and the proposed DPS for 2018 was down 27.2% YOY. We see potential downside risk with weak construction margins and weak housing sales. We have downgraded to SELL (HOLD), but reiterate our SEK155 target price. We expect the focus to be on improving earnings, and fear possibly lowered financial targets.

Skanska – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Christer Magnergård ...
  • Christoffer Wang Bjørnsen
  • Håkon Astrup
  • Joachim Gunell
  • Karl-Johan Bonnevier
  • Mattias Montgomery
  • Ole-Andreas Krohn
  • Patrik Ling
  • Simen Mortensen
  • Stefan Gauffin

Northern Lights

Simen Mortensen

Skanska (Sell, TP: SEK155.00) - Once bitten, twice shy

The CMD is due on 21 March at 09:30 CET (postponed from 27 November). There were six quarters with project write-downs in the US and four in Europe in 2017–2018 and the proposed DPS for 2018 was down 27.2% YOY. We see potential downside risk with weak construction margins and weak housing sales. We have downgraded to SELL (HOLD), but reiterate our SEK155 target price. We expect the focus to be on improving earnings, and fear possibly lowered financial targets.

Ibrahim Firdaus

Skanska

Ibrahim Firdaus

Skanska

Simen Mortensen

Skanska (Hold, TP: SEK155.00) - The key argument fell -27% YOY

With Skanska’s low visibility in Commercial Development (CD), its solid DPS has historically been a key reason to invest, so much is lost with the proposed dividend cut of 27.3% YOY. The Construction & Property Development divisions fell shy on low margins in Q4, but Skanska had a strong performance in Residential. We have cut our target price to SEK155 (160) and reiterate our HOLD.

Simen Mortensen

Civil upside

Based on falling volumes and prices in Norwegian and Swedish residential production, we see downside risk to consensus forecasts long-term. We expect civil markets to grow in line with national budget spending. Share price valuations have come down in 2018, but so has growth. With mixed business cycles and limited sector valuation upside potential, we keep our neutral sector stance, but with NCC and NRC as our new top picks with their bias towards civil engineering.

A director sold 2,000 shares at 182.356SEK and

A director at Skanska Ab sold 2,000 shares at 182.356SEK and the significance rating of the trade was 53/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of boa...

Ole-Andreas Krohn ...
  • Simen Mortensen

Northern Lights

Christer Magnergård ...
  • Christoffer Wang Bjørnsen
  • Håkon Astrup
  • Joachim Gunell
  • Karl-Johan Bonnevier
  • Mattias Montgomery
  • Ole-Andreas Krohn
  • Patrik Ling
  • Simen Mortensen
  • Stefan Gauffin

Northern Lights

Eivind Sars Veddeng ...
  • Håkon Astrup
  • Jon Masdal
  • Martin Arnell
  • Mattias Montgomery
  • Nicolas McBeath
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

Alexander Aukner ...
  • Antti Kansanen
  • Jørgen Lian
  • Niclas Gehin
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen
  • Stefan Gauffin

Northen Lights

Alexander Aukner ...
  • Christer Magnergård
  • Eivind Sars Veddeng
  • Helge André Martinsen
  • Jon Masdal
  • Marius Knudssøn
  • Martin Hoang Nguyen
  • Martin Huseby Karlsen
  • Niclas Gehin
  • Ole-Andreas Krohn
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

SKANSKA AB sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of SKANSKA AB (SE), a company active in the Heavy Construction industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date January 8, 2019, the closing price was SEK 147.80 and its potential was estimated at SEK 162.19.

Ibrahim Firdaus

Skanska

Ibrahim Firdaus

Skanska

Ibrahim Firdaus

Skanska

Ibrahim Firdaus

Skanska

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Expert Corporate Governance Service (ECGS)

Skanska, March 28, 2019

In general, Skanska is in compliance with the Swedish regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 13, the nomination committee proposes to increase the remuneration of the board of directors by approximately 3.0%. In ECGS' view, the current fees are already at the upper level of Swedish market practice for a company with the size and complexity of Skanska and it therefore does not approve of any increases without adequate justification. Since the proposal is not adequately justified, ECGS recommends to vote OPPOSE. Under ITEMS 14a-14g, th...

Skanska – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

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