| | | | | | MNOK |
| Construction, Sweden | Q3 2009 | Q3 2008 | At 30 Sep. 2009 | At 30 Sep. 2008 | 2008 | 2007 |
| Operating revenues | 530.1 | 590.9 | 1 713.4 | 1 965.7 | 2 801.1 | 2 756.2 |
| Operating expenses | -518.8 | -569.7 | -1 673.0 | -1 927.6 | -2 737.3 | -2 754.6 |
| Depreciation | -5.8 | -6.0 | -16.3 | -12.3 | -17.1 | -9.7 |
| Operating profit (EBIT) | 5.5 | 15.2 | 24.1 | 25.8 | 46.7 | -8.1 |
Share of profit associated
companies and | - | - | - | - | - | - |
| Net financial items | 1.6 | -0.3 | 0.3 | 9.3 | 6.0 | 3.8 |
| Earnings before tax (EBT) | 7.1 | 14.9 | 24.4 | 35.1 | 52.7 | -4.3 |
| Total assets business area | 576.1 | 496.3 | 576.1 | 496.3 | 570.5 | 363.6 |
The Swedish construction operations showed a total turnover for the third quarter of MNOK 530 (MNOK 591 for third quarter 2008). Earnings before tax were MNOK 7.1 (MNOK 14.9), which corresponds to a profit margin of 1.3 per cent (2.5 per cent).
The market for infrastructure projects remains strong, but competition for the assignments has sharpened. House building activities have picked up during the quarter, but are still at a low level. The demand for non-residential buildings continues in the Stockholm and Skåne regions.
Operations in Stockholm achieved good operational and profit margins, whereas both the activity level and profitability in the other regions reflected a decline in orders received in the preceding quarters. Region West is particularly feeling the consequences of a highly challenging market.
At the end of the third quarter, the Swedish construction operations had orders-on-hand amounting to
MNOK 2,381, as against MNOK 2,479 at the turn of the year, and MNOK 2,668 at the same time last year.
New contracts signed in the third quarter, include housing units in Uddevalla at MSEK 35 for Veidekke Bostad, housing for the elderly in Sollentuna for Sigillet Fastighets AB at MSEK 47 and workshop premises in Helsingborg at MSEK 93 for Jernhusen Verkstäder AB.
