Skanska books record orders again as data centers make up a third of new work

Data center and semiconductor work brought in SEK 22.7 billion of the quarter's orders, CEO Anders Danielsson told Construction Dive. U.S. contracts totaled SEK 46.9 billion, roughly 70% of the total. Order intake rose about 70% from a year earlier, Construction Briefing reported, and the backlog reached a record SEK 328.3 billion.

Revenue grew 13% to SEK 49.4 billion. Operating income was SEK 2.1 billion, up 52%. The construction business alone earned SEK 2.3 billion, a 5% margin. Impairment charges in development, including SEK 369 million in residential, kept the group figure below construction's, according to Construction Dive.

Danielsson said Skanska turns down projects where it lacks people on the ground or reliable subcontractors, and he singled out electricians on data center jobs. The company wants to grow its U.S. civil work in Florida, Utah and Arizona, where it already does building projects, he said.

He did not expect the midterm results to change much in Skanska's main markets, saying Congress has kept funding traditional infrastructure across administrations during the company's 50-plus years in the U.S. The Infrastructure Investment and Jobs Act has been extended through Dec. 11, Construction Dive noted.