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Spain’s OHL sees core profit rising more than quadrupling in 2017 y/y

By La Cámara on April 28, 2017 in NEWS
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Spanish constructor OHL <OHL.MC> sees earnings before interest, taxes, depreciation and amortization (EBITDA) rising by more than four times to 1 billion euros in 2017 from a year earlier, the company said as part of its Investors Day. It said sales would rise 30 percent to 5 billion euros in 2017 from 3.9 billion euros in 2016.

Proforma, net recourse debt – after planned divestments – was expected to be cut to 177 million euros this year from 748 million euros in 2016. To reach this, OHL said it plans asset sales in Abertis <ABE.MC>, Centro Canalejas in Madrid, Mayakoba, ZPSV, the A-2 highway and by taking on new minority partners in greenfield concessions in Latin America.

The builder said it saw sales rising 28 percent in 2018 from 2017 to 6.4 billion euros and EBITDA up 23 percent year on year in 2018 to 1.2 billion euros. (Reporting by Paul Day; Editing by Sonya Dowsett)(paul.e.day@thomsonreuters.com; +34 91 585 83 08; Reuters Messaging: paul.e.day.thomsonreuters.com@reuters.net))

Source: Nasdaq.com

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