OHLA closes the first half of the year in positive territory and increases recurring EBITDA to €116.9 million (+39%)

13 de August de 2026

  • Excluding the temporary extraordinary impact associated with the Flaggers litigation, attributable net profit amounts to €27.1 million.

OHLA closed the first six months of 2026 consolidating the sustained improvement in its key performance indicators. Attributable net profit stood at €0.5 million, despite reflecting the temporary and extraordinary impact associated with the Flaggers litigation. Excluding this non-recurring effect, attributable net profit amounted to €27.1 million, a significant improvement compared with the €29.7 million loss recorded in the same period of 2025, as well as with the results achieved in the first quarter of 2026.

The Group’s positive performance is also reflected in the growth of its operating profitability. During the first half of 2026, OHLA achieved EBITDA of €103.6 million. Excluding the impact of the aforementioned litigation, recurring EBITDA increased to €116.9 million, 39% above the figure recorded in the same period of the previous year, with an EBITDA margin of 6.7%.

Including the Services business, Group sales reached €2.035 billion, representing a 3.4% increase compared with the same period of 2025. In addition, during the second quarter, OHLA generated €96.4 million in cash flow from operations, partially offsetting the usual seasonal effect of the first quarter and enabling the Group to close the first half of the year with available liquidity with recourse of €711.3 million, compared with €613.0 million at the end of March.

OHLA’s positive operating performance was mainly driven by the solid performance of its Construction division, which achieved EBITDA of €120.1 million (+10.7%), increasing its margin on sales to 7.3%, compared with 6.8% a year earlier. Revenue also grew by 3.8% to €1.650 billion, while the order book coverage stood at 28.3 months, compared with 26.8 months in the same period of 2025, further strengthening the business’s future visibility.

Following the close of the first half of the year and prior to the presentation of these results, it is worth highlighting that OHLA has successfully resolved, in the Group’s interests, one of the most significant contingencies it had been facing, which had affected the company for more than a decade. In this regard, the Civil Chamber of the Spanish Supreme Court has fully dismissed the appeals filed against OHLA by several securitization funds in connection with construction cost overruns on the M-12 motorway providing access to Adolfo Suárez Madrid-Barajas Airport. This ruling brings to an end a process involving claims amounting to €212 million, plus €71 million in interest.

La positiva evolución operativa de OHLA ha estado impulsada, principalmente, por el sólido desempeño de la división de Construcción, que alcanzó un EBITDA de 120,1 millones de euros (+10,7%), elevando su margen sobre ventas hasta el 7,3%, frente al 6,8% registrado un año antes. Asimismo, la cifra de negocio creció un 3,8%, hasta los 1.650 millones de euros, mientras que la cobertura de actividad se situó en 28,3 meses, frente a los 26,8 meses del mismo periodo de 2025, reforzando la visibilidad del negocio a futuro.

Con posterioridad al cierre del primer semestre y con carácter previo a la presentación de estos resultados, cabe destacar que OHLA ha logrado resolver favorablemente para los intereses del Grupo una de las contingencias más importantes que afrontaba y que durante más de una década había acompañado a la compañía. En este sentido, la Sala de lo Civil del Tribunal Supremo ha desestimado íntegramente los recursos interpuestos contra OHLA por varios fondos de titulización en relación con las desviaciones de costes de construcción de la autopista M-12 de acceso al Aeropuerto Adolfo Suárez Madrid-Barajas. Esta resolución pone fin a un proceso cuyas reclamaciones que ascendían a 212 millones de euros, más 71 millones de euros en concepto de intereses.