The U.S. construction market, the most successful business, is “fragmented,” Skanska said.
However, in the company’s fourth quarter, 2025 Full Year Earnings Reportthe Stockholm-based contractor said on February 6 that it remains bullish on certain sectors, namely data centers and civil construction.
In addition to High demand for data center projectsis largely driven by the artificial intelligence boom, and Skanska also expects “continued investment from repeat customers,” president and CEO Anders Danielsson told Construction Dive.
“In the fourth quarter, we saw that we earned close to SGD 10 billion. [krona] Orders for data centers. Therefore, we are in a good position to take advantage of it. ”
Skanska earned SEK 9.5 billion ($1.05 billion) in new global data center projects in the fourth quarter, according to its earnings report.
Danielson added that’s not the case. I believe that an AI bubble is occurring. It can affect data center development.
“I don’t see any signs of the market slowing down,” he told Construction Dive.
Fragmentation also has an impact on other sectors affected by: economic uncertaintywhich causes project owners to hesitate in starting construction. Danielsson said that in Skanska’s case, jobs related to “social infrastructure” such as schools, hospitals and airports were mainly affected by this.
Managing a diverse portfolio is key to Skanska’s construction strategy.
“We believe this organization is consistent with our strategy of being highly selective in the market and selecting projects that we believe have a competitive advantage, a strong track record, good client relationships and the right organization in place,” Danielson said.
Skanska’s construction operating profit margin reached 4.1% this year, exceeding the company’s target and exceeding 3.5% in 2024.
“To be at that level, we have to continue to be consistent with our strategy,” Danielson said. “But we also see an opportunity to grow the business.”
Commercial facility development
The commercial real estate development market is weighing on the market as construction boosts Skanska’s results.
For example, in the third quarter of 2025, Skanska had a criminal charge of SEK 700 million. Adjust the value of commercial assetsespecially in the US
However, Danielson said on a Feb. 6 earnings call that the fourth quarter was a “very successful sales quarter” for commercial real estate development.
Skanska unloaded eight commercial properties in the fourth quarter, Executive Vice President and Chief Financial Officer Pontus Winqvist said on a conference call.
“If you’re looking at a commercial development portfolio, I would say a more representative revenue profile is looking at the unrealized value that we have rather than what we actually delivered this quarter,” Winqvist said.
This conference call was Winqvist’s first call as CFO. Jonas Rickberg’s retirement In November. Rickberg took the job. In January 2025.
In terms of numbers
Skanska reported fourth-quarter operating profit of SEK 2.98 billion, an increase of 8.4% year-on-year. Skanska’s full-year 2025 results showed an operating profit of SEK 7.24 billion, an increase of 2.2% compared to 2024.
Construction continued to take the lead. In the fourth quarter, approximately 80% of total operating profit, or approximately SEK 2.5 billion, was attributable to construction work.
4th quarter order backlog remains historically highDanielsson said in a telephone conversation that construction costs will be 257.9 billion kronor to finish this year. Compared to Q4 2024, the backlog decreased from 285 billion. In the US, Skanska reported 23 months of work on the pipeline.
