OHLA, a global infrastructure company, has outlined its roadmap for the 2025–2029 period through a new Strategic Plan. Under this plan, the Group expects to surpass €5 billion in sales by 2029, reflecting nearly 20% growth compared to 2024. This performance will be accompanied by a substantial increase in profitability, with projected EBITDA exceeding €300 million (equivalent to 6% of sales), driven by a shift in the Group’s business activities.

A key pillar of the Plan is the growth of the concessions business, which is set to become one of the main drivers of OHLA’s financial results in the coming years. This expansion will be supported by the Group’s solid positioning in the United States, a key market where sales are expected to grow by up to 80%. It is worth noting that the project backlog in the US currently exceeds €4 billion, a historic record for the company.

This strategic thrust will be complemented by an ambitious Efficiency Improvement Plan aimed at enhancing operational effectiveness, with a targeted cost reduction of approximately €40 million. The implementation of this Plan is expected to enable the Group to achieve gross margins above 8% of sales by 2029 and to significantly improve its cash flow, potentially doubling it.

Main growth drivers:

• Concessions: Set to become a key driver of the Group’s financial results, with a focus on the US, Latin America (especially Chile), and Central Europe. Projects will target critical infrastructure such as roads, hospitals, and—on a more limited basis—railways (due to their complexity and integration risks). Growth will be based on the Group’s investment capacity, including reinvestment from potential divestments and a gradual increase in project size. This division is expected to contribute 8% of the Group’s EBITDA by 2029.
• Construction: The Group’s core activity and main cash generator, representing 85% of total sales. Focused on five priority markets—US, Spain, Czech Republic, Chile, and Peru—where OHLA holds strong market prospects and a competitive edge. The goal is to pursue projects with margins above 8%, while maintaining participation in projects that, despite slightly lower margins, are critical to overall volume and margin contribution (e.g., road projects).
• Developments: A source of capital gains, with prudent short-term growth through minority stakes alongside financial partners and self-financed projects, focusing on unique developments over the medium to long term.
• Industrial: A diversification area centered on critical infrastructure for the energy transition, prioritizing markets where the Group has proven industrial experience.
• Services: A value-preserving activity, focused on Spain and Chile. The ongoing restructuring process aims to restore profitability, with a planned orderly exit from non-strategic markets.

Operational efficiency plan
To achieve the targets set out in its Strategic Plan, OHLA has developed an efficiency improvement plan centered on organizational transformation, improved effectiveness, and strengthening key capabilities. This plan is expected to reduce costs by approximately €40 million, consolidating a 1% decrease in overhead costs as a percentage of sales compared to 2024.

As part of this process, the organizational structure of some divisions—such as Construction—will be streamlined to speed up decision-making. These actions are expected to reduce the division’s overhead costs by around 7% and indirect costs by 3%, significantly enhancing operational profitability.

At the same time, the Services division will undergo restructuring, including the merging of branches in Spain and the consolidation of support functions. These measures, which have already started to be implemented, have led to cost savings of €2.4 million without compromising operations or market presence.

The Plan also strengthens OHLA’s management model by enhancing project oversight, optimizing procurement processes, and improving operational excellence. The new organizational structure is designed to enable internal talent mobility, encourage interdepartmental collaboration, and create operational and commercial synergies. These changes aim to achieve a more cohesive and efficient management approach, aligned with the Group’s strategic goals.

As part of the efficiency improvement process, in April the Group began relocating part of its workforce to new offices that align with industry cost standards. This move has resulted in a 60% reduction in the space occupied by OHLA at Torre Emperador in Madrid, contributing to more efficient resource management and optimized structural costs.