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14 November 2019

The company reduces its losses by more than 99% with respect to Attributable Net Results in the same period the previous year

OHL consolidates a positive EBITDA of 40.1 million by September

  • Significant improvement in EBIT. The Earnings Before Interest and Taxes (EBIT) is positive (+4 million Euros) by September 2019 over losses of 500.8 million Euros in the same period the previous year.
  • 2019 forecasts. Following the results achieved in the first nine months of the year, the company is moving towards achieving its objective by the end of 2019.
  • Activity lines showing positive figures. In terms of Sales, EBITDA and EBIT, all the activities have shown positive results in 3Q. More than 70% of the turnover figure is generated abroad.
  • Liquidity. This totaled 728.8 million Euros at 30 September.
  • Less cash consumption. Up to September 2019, 45% less cash has been consumed in the company’s activities.

OHL’s results until September have evidenced positive performance with a growth in Sales (3.5%), until reaching 2,119.9 million Euros, and have consolidated gross margins and positive EBITDA. For its part, the Earnings Before Interest and Taxes (EBIT) has reached 4 million Euros over losses of 500.8 million Euros in the same period the previous year.

In this context, following the closing of the first nine months of the year, OHL is moving towards achieving its estimated growth for 2019.

Focusing on operating profit (EBITDA), of interest is that it amounts to 40.1 million Euros by September 2019, over losses of 467.5 million Euros in the same period the previous year. It also stands out the Construction EBITDA that reaches 53.3 million Euros, a percentage of 3% onSales, compared to losses of 305.7 million Euros from January to September in 2018.

With the figures generated during the first nine months of the year, OHL consolidates its expectations to end 2019 with a figure over 45 million Euros in EBITDA terms.

All of the company’s lines of activity (Construction, Industrial and Services) show positive Sales, EBITDA and EBIT during the first nine months of the year.

The company is moving forward in its recovery thanks to its implemented measures based on treasury cash control, strict control of project income and a reduction in overhead costs.

Attributable Net Results by September registered losses of 10.4 million Euros, representing a more than 99% fall with respect to the -1,335.8 million Euros registered during the same period the previous year.

As regards cash consumption until September 2019, it has been 45% less with respect to the same period in 2018; furthermore, it has decreased in all lines of activity. In turn, total recourse liquidity has reached 728.8 million Euros.

Order book

The company’s total order book at 30 September amounted to 5,318.4 million Euros, with awards of 2,113.4 million Euros/year. The Construction order book reached 4,630.8 million Euros, representing 22.3 months of Sales. The United States (45.6%), Europe (35.3%) and Latin America (16.5%) are where the division has achieved the most awards. In turn, awards during the year have reached 1,650.3 million Euros, representing an increase close to 24% over the figures for 1H in Construction.

Of interest amongst OHL’s awards throughout 3Q is the new project awarded in Chile by Industrial. Company will carry out engineering, procurement and construction in the conversion and extension of a copper sulfur processing plant belonging to the Mantos Blancos concentrator in Antofagasta, for almost 150 million Euros.

19.11.14 Ndp ENG Resultados 9M2019

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