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OHLA shoots up 5% after putting losses behind and reaffirming its strategic plan

Date: June 19, 2024 Time: 20:34:51

The OHLA group shot up on the stock market this Friday by 5.45%, to 0.472 euros, at the close of a session in which it led, together with Fluidra, the increases in the Spanish parquet. Investors reward the return to profits in the first half of the year by earning 0.6 million euros, compared to the red numbers for importing 60.7 million a year earlier, thanks to the evolution of the business and supported by an increase about the sales.

In the first half of the year, the gross operating result (ebitda) grew by 48.5% to 50.8 million, according to the accounts submitted to the National Securities Market Commission (CNMV). Group sales, controlled by the Mexican brothers Amodio, increased by 11.8% to 1,412.4 million. 76.1% of the turnover was made abroad.

Specifically, Europe was the company’s main market by turnover (45.8%), within which Spain represented 23.9%, followed by North America (36.8%) and Latin America (16.6%). The total portfolio in the first semester reached 7,117 million euros, 11% higher than that of December 2022.

The short-term portfolio stood at 6,037.8 million, representing an activity of 24 months of sales. By business, the Construction division contributed sales of 1,309.2 million, 8.4% higher. In fact, they account for 92.7% of the group’s total sales, with 81.2% of the activity being carried out abroad. In addition, the Construction ebitda totaled 61.4 million, 23.3% higher, and the order book reached 5,773.7 million.

The Industrial area increased a turnover of 90.4 million, double that of last year, thanks to the contracting of new projects in the renewable energy sector, and the ebitda was 3.3 million. OHLA increased margins in the Construction and Industrial divisions to 4.7% and 3.7%, respectively. On the other hand, it ended the semester with a total liquidity position with recourse of 620 million, improving the figure of last March by 38.8 million.

After reporting a discreet profit in the semester, the group is confident that more important earnings will arrive next year and in the future, although the payment of the dividend is still far on the horizon. For this year, the objective has been set to achieve sales of around 3,500 million; an ebitda of more than 125 million and a contracting of more than 3,600 million. These figures will be affected, where appropriate, by the divestment of the Services business, which is presented in the accounts as an interrupted activity held for sale.

In fact, OHLA plans to close the sale of the Services business (Ingesan) and its 25% of the concession for a hospital in Montreal (Canada) in the second half of the year. However, it sets for next year the sale of its 50% in the Canalejas complex in Madrid. According to the company, these results consolidate the good evolution of the business and serve as a basis for completing the transformation process, focusing on improving the operating margins of the projects with the aim of boosting the profitability of the group.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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