OHLA reported a net loss of 7.8 million euros for the first quarter, aligning with expectations from the board and investors and representing a 35% improvement over the 12 million euro negative result recorded in the same period of 2022. The company disclosed these figures to the National Securities Market Commission (CNMV) recently, providing a window into its ongoing stepwise transformation as it tightens margins and strengthens its cash position amid a strategic portfolio review.
Industry observers and Group insiders cited with Europa Press noted that the quarterly results are consistent with the company’s targeted margin and sales consolidation plan. They pointed to continued top-line growth and disciplined expense management as the main drivers behind the reduced losses, underscoring OHLA’s focus on higher-margin activities and tighter cost controls implemented across its operations.
A key element of OHLA’s strategy is non-core activities being treated as interrupted or divested segments. The company reiterated that, as announced in February, it intends to exit certain activities within the service sector. Sources within the Group indicated that the divestiture is progressing and expected to close within the current year, a move that is anticipated to further streamline the portfolio and reallocate capital toward core capabilities with stronger earnings potential.
For the quarter, OHLA’s earnings before interest, taxes, depreciation, and amortization (EBITDA) rose by nearly 40% year over year, reaching 20 million euros. This improvement reflects both the improved profitability of ongoing operations and the benefits of cost discipline. However, the net operating result (EBIT) showed a softer trajectory and declined by 64.8% to 6.3 million euros, a consequence of the group’s ongoing portfolio reconfiguration and the timing of depreciation and amortization on certain assets as the company realigns its assets and liabilities.
Sales during the first three months of the year totaled 637.5 million euros, up 16% from the same period in 2022. A notable feature of the revenue mix is the geographic distribution: approximately 76.1% of total sales were generated abroad, signaling an emphasis on international markets and a diversification of revenue streams beyond the domestic footprint.
Geographic breakdown highlights a balanced exposure across regions. Europe contributed 44.3% of turnover, while North America accounted for 38%. Spain represented 23.9% and Latin America 17.4%, illustrating the company’s multi-regional footprint and the importance of regional market dynamics in its overall performance. The mix indicates a strategic tilt toward markets that offer higher growth potential and more favorable project pipelines, even as currency and local market conditions shape quarterly outcomes.
OHLA underscored that the first-quarter results illuminate the ongoing progress of the business, with EBITDA signaling a favorable margin trajectory for the construction segment and related services. The company noted a margin of about 4.5% on net sales for the quarter, a figure that reflects the combined impact of project mix, productivity gains, and cost containment measures instituted during the period. The management team emphasized that these indicators align with the broader plan to restore sustainable margins as international operations scale and non-core assets are refined.
In summary, the first quarter presents a constructive view of OHLA’s path forward: a leaner, more focused portfolio; improved EBITDA against a backdrop of cautious revenue expansion; and a clear intent to complete planned divestitures within the year. By monetizing non-core activities and concentrating on high-margin, international projects, OHLA aims to strengthen its competitive position and deliver greater value to shareholders as market conditions evolve.