Obrascon Huarte Lain Sa · BME:OHLA
Obrascon Huarte Lain Sa — H1 2026 Earnings Presentation
24 slides from Obrascon Huarte Lain Sa's earnings presentation, Aug 13, 2026
Slide 1: Results 1H26
I/42 Brno, Czech Republic. Results 1H26 13 August 2026 Investor Relations Team (+34) 91 348 41 57 relacion.accionistas@ohla-group.com
Slide 2: Contents
Contents 1. HIGHLIGHTS ----------------------------------------------------------------------------------------------------- 1 2. GROUP’S PERFORMANCE ----------------------------------------------------------------------------------- 2 3. PERFORMANCE BY DIVISION -------------------------------------
Slide 3: 1. Highlights
1. HIGHLIGHTS As a result of the strategic decision reported to the market to divest the Services business, this is included as a discontinued operation in the financial information presented. Highlights 1H26 1H25 Var. (%) Sales 1,749.0 1,689.5 3.5% EBITDA 96.1 84.1 14.3% % o/Sales 5.5% 5.0% Recurri
Slide 4: 2. Group's Performance
2. GROUP’S PERFORMANCE The OHLA Group closed the first half of 2026 reaffirming the positive trend in both operating margins and profitability indicators, with improvements compared with the first quarter and previous years, clearly reflecting the strength of its order book and execution capabilitie
Slide 5: The Total Order Book stands at 9,639.2 million euros
The Total Order Book stands at 9,639.2 million euros at 30 June 2026 (+2.6%), while the short-term order book reached 8,639.8 million euros or 25.4 months of Sales (up from 24.3 months at June 2025). OHLA closed the first half of 2026 with a total recourse liquidity position of 711.3 million euros c
Slide 6: 3. Performance by Division: Construction
3. PERFORMANCE BY DIVISION CONSTRUCTION Highlights 1H26 1H25 Var. (%) Sales 1,650.5 1,590.3 3.8% EBITDA 120.1 108.5 10.7% % o/Sales 7.3% 6.8% EBIT 88.8 78.4 13.3% % o/Sales 5.4% 4.9% Million Euros First-half Sales amounted to 1,650.5 million euros in this business, +3.8% above the same period in 202
Slide 7: Main projects in the order book
The distribution of the construction order book by project size is as follows: By project type, 33.3% of the construction order book relates to roads, 24.0% to railways, 5.7% to ports and airports, 23.3% to building and the remaining 13.7% to energy and mining. The main projects in the construction
Slide 8: Industrial
INDUSTRIAL Highlights 1H26 1H25 Var. (%) Sales 78.4 82.3 -4.7% EBITDA 5.9 -13.3 n.a. % o/Sales 7.5% -16.2% EBIT 4.9 -13.5 n.a. % o/Sales 6.3% -16.4% Million Euros The Industrial division recognised Sales of 78.4 million euros, accounting for 4.5% of the Group's total. The Industrial division's EBITD
Slide 9: 4. Consolidated Financial Statements: Income Statement
4. CONSOLIDATED FINANCIAL STATEMENTS INCOME STATEMENT As a result of the strategic decision reported to the market to divest the Services business, this is included as a discontinued operation in the financial information presented. The income statement at 30 June 2026 is set out below, together wit
Slide 10: The Group's Revenue at 30 June 2026 totalled 1,749.0 million euros
The Group's Revenue at 30 June 2026 totalled 1,749.0 million euros, up +3.5% on the figure at 30 June 2025. 69.4% of revenue was generated abroad. In the distribution of Sales by geographic area, Europe accounts for 51.1%, the US 31.7% and Latin America 16.7%. Gross Operating Profit (EBITDA) totalle
Slide 11: Balance Sheet
BALANCE SHEET As a result of the strategic decision reported to the market to divest the Services business, this is included as a discontinued operation in the financial information presented. The consolidated balance sheet at 30 June 2026 is set out below, together with a comparable balance sheet a
Slide 12: The main consolidated balance sheet headings
The main consolidated balance sheet headings at 30 June 2026 and a comparison with the balance sheet at 31 December 2025 are as follows: Intangible assets: amount to 95.8 million euros, showing a net variation of -7.4 million euros due mainly to the amortisation of the client portfolio assigned to t
Slide 13: Financial debt: a comparison of borrowings
Financial debt: a comparison of borrowings at 30 June 2026 and 31 December 2025 is set out in the following table: Gross borrowings(1) 30/06/2026 % 31/12/2025 % Var. (%) Var. Recourse borrowing 371.1 100.0% 362.4 100.0% 2.4% 8.7 Non-recourse borrowing 0.0 0.0% 0.0 0.0% 0.0% 0.0 Total 371.1 362.4 2.4
Slide 14: Cash Flow
CASH FLOW 1 1H26 1H25 EBITDA 96.1 84.1 Adjustments to results -51.5 -66.4 Net financial income/(expense) -37.9 -51.3 Results of equity-consolidated companies -0.6 0.0 Corporate Income Tax -8.0 -16.1 Change in provisions and other -5.0 1.0 Funds generated from operations 44.6 17.7 Changes in working
Slide 15: 5. Order Book
5. ORDER BOOK As a result of the strategic decision announced to the market to divest the Services line of business, the information for this division is disclosed as a discontinued operation and therefore the portfolio presented here does not include the figures for that line of business. At 30 Jun
Slide 16: 6. Share Price Performance
6. SHARE PRICE PERFORMANCE At 30 June 2026, OHLA's share capital amounted to 345,858,068.75 euros represented by 1,383,432,275 shares with a par value of 0.25 euros each, all belonging to a single class and series. The share price at end-June was 0.4566 euros per share, having appreciated +27.7% dur
Slide 17: 7. Appendices: Insider information and other relevant information
7. APPENDICES 7.1.- INSIDER INFORMATION / OTHER RELEVANT, REGULATED AND CORPORATE INFORMATION DURING AND SUBSEQUENT TO THE PERIOD • 30 January 2026: The company reports the signing of the announced agreement for the division of the assets of the Canalejas Complex in Madrid. • 29 April 2026: The comp
Slide 18: 7.2 Non-Recourse Subsidiaries
7.2.- NON-RECOURSE SUBSIDIARIES (-) Cash (-) Current- Subsidiary Total % per % per Gross Net % Holding EBITDA and asset assets Group Group Debt Debt banks investments OHLA Concesiones, S.L. 100.00% 46.0 1.4% - (0.1%) - (0.1) - (0.1) Marina Urola, S.A. 51.00% 2.1 0.1% - 0.1% - (0.8) (0.6) (1.4) Socie
Slide 19: 7.3 Alternative Performance Measures
7.3.- ALTERNATIVE PERFORMANCE MEASURES The OHLA Group reports its results in accordance with International Financial Reporting Standards (IFRS) and also uses certain Alternative Performance Measures (APM) which help to improve the understanding and comparability of the financial information and to c
Slide 20: Alternative Performance Measures: EBITDA with recourse
Million euros Item June-26 June-25 TOTAL EBITDA 96.1 84.1 (+) Financial income interest 11.1 5.9 (-) EBITDA non-recourse companies -4.8 -0.8 (-) Financial income from non-recourse companies - - (+) Non-recourse corporate dividends - - (-) Non-recurring expenses - - TOTAL Gross Operating Profit with
Slide 21: Alternative Performance Measures: Net debt
Million euros Item June-26 Dec-25 Gross non-recourse debt - - (-) Current financial assets -2.2 -2.6 (-) Cash and cash equivalents -0.9 -1.5 TOTAL Net Non-Recourse Debt -3.1 -4.1 Recourse debt (gross or net) is total debt (gross or net) minus non-recourse debt (gross or net). Used to measure the net
Slide 22: Alternative Performance Measures: Recourse liquidity and order book
Million euros Item June-26 Dec-25 Current financial assets 133.3 205.4 Cash and cash equivalents 581.1 646.1 (-) Current financial assets, non-recourse -2.2 -2.6 (-) Cash and cash equivalents, non-recourse -0.9 -1.5 TOTAL recourse liquidity 711.3 847.4 Order book: this refers to income yet to be rec
Slide 23: Alternative Performance Measures: Market capitalisation and PER
Million euros Item June-26 Dec-25 Number of shares at year end 1,383,432,275 1,383,432,275 Year-end price 0.4566 0.3575 Stock-market capitalisation (million euros) 631.7 494.6 PER: is the share price at the end of the period divided by earnings per share for the last twelve months. It is an indicato
Slide 24: Legal Notice
LEGAL NOTICE Any statement that may appear in this document other than those referring to historical data, including, but not restricted to, operational development, business strategy and future objectives, are forward-looking estimates and, as such, imply known and unknown risks, uncertainties and