OHLA, the global infrastructure group, concludes the first nine months of the year with a solid operating position. The company has increased its sales to 2,649.5 million euros (including services activity), up 17.4% compared to the same period in 2023. This significant increase in OHLA’s turnover is supported by the excellent performance of its construction and industrial divisions, which increased their activity by 15.4% and 44.5%, respectively.

The good performance of the business allowed the Group to improve its EBITDA, which reached 86.9 million euros, 3.2% higher than the figures achieved during the previous year. The EBITDA margin stands at 3.3%, maintaining the levels reported at mid-year and improving by almost one point on the first quarter margin. 

Due to the fact that the company has the accounting close for October at the date of publication of these results, the Group has considered it relevant to give a preview of that month, which ratifies the positive trends and demonstrates that, both at operating level and in cash generation (+73.5 million between April and October), the main indicators continue to improve, complying with the Business Plan and the guidance provided to the market. 

Total short-term order intake for the period amounted to 3,497.3 million euros, representing a book-to-bill ratio of 1.3x. In this sense, if the contracting of the Services division (discontinued as it is held for sale) is included, the figure would reach 3,949.0 million euros. 

Of all this new contracting, it is worth highlighting the award of important projects such as the design and construction of the new facilities for the Miami-Dade County Correctional and Rehabilitation Center (USA) for 214 million euros, the improvement of the Ostlanken railway line (Sweden) for 159.6 million euros or the design and construction of the Gjønnes tunnel (Norway) for 147.6 million euros.

Of all this new contracting, it is worth highlighting the contracting of important projects such as the design and construction of the new facilities for the Miami-Dade County Correctional and Rehabilitation Center (USA) for 214 million euros, the improvement of the Ostlanken railway line (Sweden) for 159.6 million euros, and the design and construction of the Gjønnes tunnel (Norway) for 147.6 million euros.

The total project backlog stands at 8,196.6 million euros, up 5.3% compared to the end of 2023. If the discontinued activity of the Services division were included, the Group’s total backlog would reach €8,975.7 million. Short-term portfolio activity coverage stands at 24.5 months of sales.

The figures presented reflect the company’s robust operating position in a year of consolidation, making steady progress towards achieving the objectives set out in our roadmap, while making significant progress in our recapitalization process. In this context of operational strength, the result attributable to the parent company was -58.3 million euros, a figure due to accounting impacts and mainly explained by the equity method, exchange differences and the disposal of financial instruments.

Within the context of the recapitalization process, it should be recalled 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 in OHLA’s capital, the extension of the maturity of the bonded debt until December 31, 2029, the relaxation of certain terms and conditions of the Bonds, as well as the support in guarantees for the Group’s Business Plan. All this, paying at the time of the recapitalization a coupon lower than the current one, allowing the Group to reduce its financial burden from the outset.

This OHLA recapitalization operation therefore has the support of the current reference shareholders, relationship banks, more than 93% of the bondholders, new investors, and was approved with broad support on October 22nd by its shareholders at an Extraordinary General Meeting.