OHL ends the first quarter with EBITDA of 9.1 million euros

In the first quarter of 2019, OHL has obtained positive operating results. EBITDA, in the period of reference, has reached 9.1 million euros, as opposed to -37.9 million euros in the first quarter of 2018. All of the company’s activities- Construction, Industrial and Services- have registered positive EBITDA in the first quarter of 2019.

OHL is still firmly applying its construction business recovery policy. In the first quarter of the financial year this has been reflected in the outcome of the measures implemented by the company: order book control, strict recognition of project revenue, reduced overhead costs and organizational changes. These measures will allow it to obtain greater operating margins, over the financial year.

The effects of these measures are also evident in the maintenance of Sales levels, which until March 2019 registered 648.7 million, as well as gross margins in project terms of around 6.5%. As regards treasury cash during the first quarter of 2019, 50.2% less has been consumed with respect to the same period in 2018.

Net Attributable Results until March 2019 reached -7.7 million euros, in comparison to the -144.9 million euro losses registered until March 2018. 

Liquidity

During the first quarter of 2019, available recourse liquidity was placed at 901.0 million euros. This liquidity has provided the necessary stability to launch the company’s Business Plan.

Order book

The total short-term order book at 31 March amounted to 5,336.4 million euros, with total awards in the quarter of 643.4 million euros. As for the construction business, the order book has reached a total of 4,715.1 million euros, representing 23.6 months of sales; projects have been awarded for a total of 533.4 million euros: 47.5% in the U.S., 30.6% in Europe and 14.3% in Latin America.

Main figures	1Q19	1Q18	Var.(%)
Sales	684.7	707.9	-3.3%
EBITDA	9.1	-37.0	n.a
% o/ sales	1.3%	-5.2%
EBIT	-1.8	-44.5	n.s
% o/ sales	-0.3%	-6.3%
Attributable net profit	-7.7	-144.9	n.s
% o/ sales	-1.1%	-20.5%
MnEuros