The General Shareholders' Meeting approves all the items on the agenda

OHLA strengthens the governance of its Board and independent directors represent more than 50% of the Board

June 30, 2023

OHLA’s General Shareholders’ Meeting today gave the green light to the items on the Agenda. These include the appointment of a new independent director, Ximena Caraza, and the re-election of three independent directors: Carmen de Andrés, César Cañedo and Reyes Calderón.

Regarding these appointments, the Chairman, Luis Amodio, highlighted in his speech the reinforcement of the number of independent directors on the company’s Board of Directors and pointed out that “this is the first time in OHLA’s history that they represent more than 50% of the members of the Board”. He also remarked that “Good Governance is a priority for this company”.

Positive operating performance

The Chairman of the Board of Directors pointed out in his speech that “the development of infrastructures must be a stimulus for economic progress, job creation and the progress of society and constitutes a guarantee of territorial structuring, social cohesion and equal opportunities”.

Focusing on the evolution of the 2022 financial year, he indicated that “the company has achieved its objectives from an operational point of view”. And he pointed out that “sales have approached 3.26 billion euros, up 17%; we have reached record order intake in the last eight years; the total order book has reached over 7 billion euros, the best figure since 2015 and EBITDA has surpassed the 110 million barrier”.

In this regard, he highlighted the important contracts obtained during the year through which the company will contribute to promoting sustainable mobility and digital transformation, thanks to which we are moving towards “more resilient infrastructures with less impact on the planet”.

Looking ahead to 2023, he stressed that OHLA “will continue to work to achieve financial stability, and from a business standpoint we will focus on selecting projects and geographies that allow us to maximize contract margins.

Medium-term roadmap

With respect to the medium-term strategic roadmap, Luis Amodio indicated that “it will be approached from a two-fold objective”. Firstly, from a business perspective “to improve operating profitability” and, secondly, from the point of view of the balance sheet, so “we will continue with the firm intention of reducing indebtedness”. And to achieve this we will rely “on the Group’s divestment plan”.

OHLA’s Chairman expressed optimism “about the opportunities that lie ahead thanks to “the relevant investment programs in the geographies in which the company is present: the US, Latin America and Europe”.

He ended his speech by highlighting the work carried out by José Antonio Fernández Gallar, CEO of the company during the period 2018-2022 “in which he has worked effectively with outstanding results on the business and the company’s balance sheet”. He also recognized the commitment and talent of all OHLA employees “who have worked hard to undertake the major operational and balance sheet transformation.