The General Shareholders' Meeting approves all items on the agenda

Luis Amodio, OHLA’s Executive President, emphasizes the firm commitment to deleveraging the company to drive its future growth

June 28, 2024

The General Shareholders’ meeting of OHLA has approved all nine items on its agenda. These included matters related to the company’s annual accounts, the board’s management throughout the 2023 fiscal year, the re-election of EY as auditors for the 2024 fiscal year, and the advisory vote on the directors’ remuneration report for 2023

Additionally, shareholders have approved delegating to the Board of Directors the authority to issue convertible securities, or securities granting the right to acquire or subscribe to newly issued shares.

Strategic Goals achieved

The Executive President highlighted in his speech the ‘significant strategic goals achieved during 2023,’ reflecting ‘the company’s major operational transformation and return to profitability.’ He congratulated all company employees ‘for the remarkable operational result achieved,’ while emphasizing the support from the company’s stakeholders.

He also mentioned the key milestones achieved during the fiscal year, including that ‘the business has exceeded all its targets, EBITDA has reached its highest level since 2015, contracting and the backlog are at historical highs, and the company has reduced its financial leverage.

In terms of good governance, the Executive President noted that ‘for the first time in the history of this company, independent directors represent more than 65% of the board’ and referenced that the company would continue to work on ESG matters.

Capital Increase

Regarding the fiscal year 2024, he stated that the company’s priority is to focus on deleveraging. To achieve this, the company will rely on two main drivers: ‘the sale of non-strategic assets, i.e., those not linked to the core Construction and Concessions activities,’ The second pillar is the capital increase announced on June 26, which will be submitted to the shareholders for approval at a forthcoming Extraordinary Shareholders’ Meeting.”

Luis Amodio, OHLA Executive president.