In December 2010 Skanska launched its Profitable Growth Business Plan, aimed at growing Construction and Project Development, establishing Skanska as a leader in Safety, Ethics, People Development, Green and Risk Management.
Vision of Skanska in 2015
- In Construction, we have grown faster than the market, with strong capital efficiency and best-in-class operating margins.
- Project Development is a bigger part of our business; we have reinforced our presence in existing regions, and entered new ones.
- We are a recognized market leader in Safety with an LTAR of 1.0.
- We are recognized as a role model in Ethics.
- We are recognized as a leader in People Development.
- We are a recognized market leader in Green.
- Our increased focus on opportunities is coupled with world-class Risk Management.
Build on the strength of One Skanska
We will step up the pace of the financial synergies
Having both Construction and Project Development operations, Skanska has a powerful business model that generates financial synergies.
The cash generated by our Construction units is not only distributed to our shareholders, but is also invested in our Project Development streams (Residential Development, Commercial Property Development and Infrastructure Development). These generate high returns and they also bring new projects back to the Construction units.
This is a smart way to leverage on our strong balance sheet; we use the money many times, with an unrivalled return on investment. Increased financial synergies are a key ingredient for Profitable Growth.
We will use our financial strength and combined experience
We can make business out of the fact that we are One Skanska. Belonging to a financially strong group makes it possible to bid for, and take on, projects that no Business Unit could handle alone. Using our combined experience – our reference projects and experts in key areas such as Healthcare, Green, Risk Management, Bundled Construction, Design/Build, BIM, etc. – gives us an unbeatable competitive advantage. It is up to us to act upon the opportunities provided by being Skanska – One Skanska.
A leader in Safety
We simply cannot accept accidents and fatalities. Our intention is clear – we want to set new standards in all our home markets when it comes to safety. To do so, we must build a non-blaming culture, in which it is natural to report incidents, so that we, in turn, can learn from them. Everyone, not least our managers, plays a role in creating this learning organization.
A leader in Ethics
Our Code of Conduct and Our Five Zeros are the basis for everything we do – today and in the years to come. Ethical breaches are identified as the number 1 risk to Skanska – a breach in one market can ruin our reputation and business worldwide.
A leader in People Development
We can only deliver Profitable Growth with the right people on board. It is vital to attract and recruit talents, and to ensure that our new employees live by our values. For this, we rely on our existing stars; we must ensure that our key people feel recognized and developed.
A leader in Green
The demand for green solutions is ever-growing. We are determined to drive the development in our industries and make good business out of it. We are on the right track; what we need to do is to make use of our combined experience and market our green expertise.
Excelling in Risk Management
During recent years, we have strengthened our Risk Management, which has opened the door for Profitable Growth. As we grow the company we need to put even stronger emphasis on Risk Management. We will not only focus on projects' early phases, but on the entire process.