OHLA obtained losses of 58.3 million euros in the first nine months of 2024 compared to the profit of 14.2 million euros that it obtained in the same period of the previous year due to accounting impacts, such as the equity method, differences in exchange or deterioration and disposal of financial instruments.
Ignoring this negative effect on the company’s accounting results, the construction company managed to increase its sales by 17.4%, to 2,649.5 million euros, as reported to the National Securities Market Commission (CNMV).
73.3% of this turnover came from abroad, with Europe representing 43.4% of the total, North America 32.6% and Latin America 23.3%.
For its part, the gross operating result (Ebitda) was 86.9 million euros, 0.5% less, with a margin of 3.3%, which was identical to that of the first half of 2024.
Total short-term contracting reached 3,497.3 million euros, equivalent to a ‘book-to-bill’ ratio of 1.3 times and in line with internal risk diversification requirements both by geography and size. OHLA has specified that only one of the projects has a value of more than 500 million euros.
For its part, the total portfolio as of September 30, 2024 stood at 8,196.6 million euros, 5.3% more compared to the figure at the end of the year in 2023. The short-term portfolio reached 7,184, 6 million euros, 6.6% more, which represents coverage of 24.5 months of sales. The long-term amount fell by 3.1%, to 1,012 million euros.
The Construction unit saw its Ebitda margin reduced to 4.2% from the previous 4.9%, while the rate of the Industrial area did improve to 3.5%, eight tenths more.
On a financial level, OHLA closed the ninth month of the year with a total liquidity position of 675.9 million euros and a net financial debt of 152.4 million euros. These amounts are 17.1% and 47.9% lower year-on-year, respectively.
“The figures presented reflect the robust operating position of the company in a year of consolidation, moving firmly towards achieving the objectives established in our roadmap, while making significant progress in our recapitalization process,” OHLA explained in a statement. press release.
“Within the framework of the aforementioned recapitalization process, it is worth remembering that the company has achieved the return of existing guarantees in favor of the banks for the first time in six years, the arrival of new investors to the capital of OHLA, extending the maturity of the debt in bonds until December 31, 2029, make certain terms and conditions of the bonds more flexible, as well as support in guarantees for the group’s Business Plan,” he added.
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