Q2 2024 Obrascon Huarte Lain SA Earnings Call Transcript
Key Points
- Total sales increased by 21.8% compared to the same period last year, reaching EUR1.7 billion.
- EBITDA rose by 13.2% year-over-year, indicating improved operational efficiency.
- Order intake for the first semester was EUR2.5 billion, a significant 62.4% increase from the previous year.
- The construction division's sales grew by 16.5%, with a strong presence in the US market.
- The industrial division saw a remarkable sales increase of 94.9%, driven by a focus on renewable energy projects.
- Cash consumption for the period was EUR128.7 million, indicating ongoing financial challenges.
- The company is still prioritizing deleveraging, highlighting existing debt concerns.
- Losses were reported due to negative exchange rate effects and an agreement with IFM, impacting financial results.
- The sale of non-core assets, including the services division, has been delayed, affecting the company's deleveraging plans.
- There is uncertainty regarding the capital increase, with ongoing negotiations and no finalized terms yet.
Good afternoon, ladies and gentlemen. My name is Tomás Ruiz, and I am the Managing Director of OHLA Group. In the room with me are Mr. José MarÃa Sagardoy, CFO; and Mr. Pedro Arellano, Head of Investor Relations.
Before going through the operational results of this quarter by division in detail, I would like to share some key points regarding the group's performance during this past semester. Let me advance to you that the operational results are in line with the forecast to reach the final year objectives we have set.
At the operational level, all our total sales amounted to EUR1.7 billion, 21.8% higher than in the same period of the previous year. EBITDA stands at EUR57.5 million, 13.2% above the figure of the same period of the previous year, with margins in the construction and industrial divisions of 4.2% and 4.3%, respectively.
This set of results demonstrate the good performance of the business and serve as a basis to continue working on the consolidation process of the company. These
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