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Skanska on Brexit: The worst scenario is prolonged uncertainty

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Skanska on Brexit: The worst scenario is prolonged uncertainty

Swedish Skanska AB, which is engaged in erection of the City of London’s landmark Gherkin building, lowered its outlook for U.K. non-residential construction following the Brexit voting in favour of leaving the EU, Bloomberg.com reports on Friday.


According to Chief Executive Officer Johan Karlstroem, before the referendum in the United Kingdom, private developers preferred not to start new projects. However, the situation hasn’t changed now and the businessmen are still watching out.

“The worst case scenario is a continued prolonged uncertainty”, warned Johan Karlstroem.

In the second quarter of the year, Skanska’s revenue fell 7.6% to 37.3 billion kronor, the shares traded 5.4% lower at 176.10 kronor as of 10:55 a.m. in Stockholm.

Karlstroem claims that it’s difficult to assess the risk now, but there is a probability that in a couple of years there will be a problem with foreign workforce on the British market.

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