OHL Group’s EBITDA grew 12.2% during the first quarter of the year

The OHL Group obtained satisfactory results during the first quarter of 2014. In which main figures of their financial statement have registered the following variations in the same period of 2013:

• Sales: +2,8%
• EBITDA: +12,2%
• EBIT: +17,2%
• Net profit: -11,2%

The 2.8% increase in sales has been produced due to the pronounced boost in the Construction business, whose turnover has grown in 12.8%, compensating decreases of 13.1% and 23.8% registered in Concessions and other activities, respectively.

In Concessions, toll income has increased in 11.0% due to positive evolution in traffic and fees. However, total sales of the division have decreased in 13.1% mainly due to lower construction activities (own and sub-contracted) carried out in Mexico, where, in 2013, work in concession highways was completed.

In Construction, an increase of 12.8% in turnover combines a 3.4% decrease of activity in Spain with an increase of international sales of 16.5%, especially in Latin America and the Middle East.

For its part, OHL Group’s EBITDA increased 12.2% to €279.6 million. This evolution is due to the activity in OHL Concesiones, where EBITDA has increased in 17.5% due to the increasing Mexican contribution and now represents 87.3% of the total of the Group.

Total practice of the OHL Group’s EBITDA already originates from abroad and is mainly generated in Mexico, Chile and Saudi Arabia

The weigh of international activity in OHL Group continues to be very important, representing 77.4% of sales and 86.5% of the total portfolio. Sales distribution by geographical areas during the first three months of the year is the following:

Central and Southern America 28.7%

• Spain 22.6%
• USA and Canada 19.7%
• Middle East and North Africa 17.1%
• Central and Eastern Europe 11.5%
• Other 0.4%

OHL Construcción has closed the first quarter with a portfolio of 8,758.5 million Euro, of which 83.5% corresponds to work abroad, wherein this division hold important contracts. Among them, the Ural-Polar railroad in Russia; the Hospital Center of the University of Montreal (CHUM), in Canada; the Marmaray project in Turkey and The Meca-Medina high speed railroad, in Saudi Arabia.

Among the awards for the first quarter of 2014 are the work for the Atizapan – Atlacomulco highway, in Mexico for 337 million Euro; the urban highway Americo Vespucio Oriente, in Chile, for 284 million Euro, and the express lane contract in the highways SR-826 and SR-93, in Miami (USA), for 113 million Euro. These contract awards, which total €734 million and, together with other smaller agreements have added to the €1.153 million in the Construction portfolio during the first quarter. As for OHL Concesiones, during the first quarter of 2014, two new highway concessions have been awarded: the urban highway Americo Vespucio Oriente, in Chile and Atizapan-Atlacomulco, in Mexico. With this, the number of direct toll highway concessions for the Group is now 12, with a total of 829 km.

In the financial area, in the framework of the continual optimization of the Group’s financial structure policy, OHL has successfully completed an Eurobond emission last March, for the amount of 400 million Euro, due 2022. The bonds were issued jointly with a fixed coupon of 4.75%, the lowest in the history of OHL in the Euromarkets, where operations were started in 2007, being investment grade at the time. The issuance has been very successfully placed among the European investors, proving the prestige of the Group in international capital markets once more.