OHLA ended the first quarter of 2024 with sales totaling 794.9 million euros, 24.7% higher than in the same period in 2023 thanks to higher production in the construction and industrial activities. 70% of sales were generated abroad. The geographical distribution of sales was Europe 44.3%, North America 32.2% and Latin America 22.8%.

EBITDA amounted to 19.5 million euros, a very similar figure to the 20.0 million euros recorded in the same period in 2023. The Construction activity is the largest contributor with an EBITDA margin of 3.4%. This figure will improve throughout the year.

The company’s attributable net income through March 2024 stands at 4.7 million euros. This record means that OHLA reduced its losses by nearly 40% compared to the same period in 2023, when it ended at -7.8 million euros.

Portfolio and order intake on the rise

Total short-term order intake amounted to 1,130.4 million euros, almost doubling the order intake in the first quarter of 2023. This order intake represents a book-to-bill ratio of 1.4x.

It is worth highlighting the boost to contracting in Spain with new contracts signed for close to 540 million euros. Among them is the construction project for the last section of the Mediterranean High-Speed Corridor between Murcia and Almería, which the company is carrying out in a joint venture. This project is focused on the integration of the railroad in Lorca and the execution of the platform, with a length of 3.2 kilometers, most of it in a false tunnel and the new underground train station.

In the industrial activity, it is worth mentioning the contract for the construction and operation of a new photovoltaic plant in Murcia with a total installed capacity of 200 MW and another renewable energy project in Castilla y León with a total installed capacity of 100 MW.

Liquidity position

OHLA ended the first quarter of 2024 with a total liquidity position of 626.7 million euros.

The company’s gross financial indebtedness amounted to 526.1 million euros, resulting in a net cash position of 105.1 million euros.