Skanska’s group revenue dropped by a tenth to SEK 158.6bn (£13.7bn) following coronavirus disruptions.
In its results for the year to 31 December 2020, the company blamed the drop from SEK 176.8bn (£15.3bn) on COVID-19 disruptions, particularly in Europe and the USA, and on clients deciding to “postpone ramp-up of new projects”. Skanska also bid more selectively in the year with the aim of achieving a higher profit, its management said, which also contributed to the fall in revenue.
The group’s profit rose to SEK 9.3bn (£805m) from SEK 6.4bn (£554m) the previous year. The company attributed this to acting “quickly and decisively” when the pandemic hit and “strong gains” from its commercial property development division during the year. The profit improved after the group’s UK business had been hit the previous year by goodwill impairment charges totalling £29.8m for its infrastructure services business.
Some huge projects are due to hit critical milestones in the new year, as coronavirus, social distancing and Brexit continue to dominate the delivery of construction projects in 2021. Here’s our run-down of the big ones to watch.
1) Forest Green Rovers stadium – a timber revolution?
Gloucestershire-based Forest Green Rovers’ decision to build a wooden football stadium was unprecedented. It has becoming an even bolder call when you consider the current perception of combustible materials and backdrop of financial uncertainty facing lower-league teams.
A director from Zaha Hadid, who designed the timber structure (above), told
CN in February 2020 wood was a good material for stadium construction, being both low-carbon and conducive to an attractive design.
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