OHLA has recorded a net profit of 0.5 million euros in the first half of 2026, a figure that compares positively with the losses of 29.7 million accumulated between January and June 2025, despite accounting for the "temporary and extraordinary" impact associated with the Flaggers litigation concerning one of its projects in New York. Without this impact, the attributable net result would have risen to 27.1 million euros.
"It is important to highlight that the group continues to develop and implement its structural cost-saving plan. This is contributing to the improvement of margins and efficiency across the organisation, standing at around 3.7% on sales," the company explained in a statement sent to the National Securities Market Commission (CNMV).
Between January and June, OHLA achieved an EBITDA of 103.6 million euros, an increase of 14.3% year-on-year. In this sense, excluding the impact of the aforementioned litigation, the recurring EBITDA has risen to 116.9 million euros, 39% higher than that recorded in the same period of the previous year, with an EBITDA margin of 6.7%.
Including the Services activity, the group's sales reached 2,035 million euros, representing an increase of 3.4% compared to the same period in 2025. Furthermore, during the second quarter, OHLA recorded a cash generation from operations of 96.4 million euros, partially offsetting the usual seasonal effect of the first quarter and allowing the semester to close with a liquidity position of 711.3 million euros, compared to 613 million euros recorded at the end of March.
The positive operational evolution of OHLA has been driven primarily by the solid performance of the Construction division, which achieved an EBITDA of 120.1 million euros (+10.7%), raising its margin on sales to 7.3%, compared to 6.8% recorded a year earlier. Additionally, turnover grew by 3.8%, reaching 1,650 million euros, while the coverage of activity stood at 28.3 months, compared to 26.8 months in the same period of 2025, reinforcing the visibility of the business going forward.
The group's total contracting in the semester amounted to 1,838.3 million euros, representing a 'book-to-bill' ratio of 0.9x in the period. "The contracting maintains an adequate diversification both geographically, as well as by size and type, with all projects currently underway being below 400 million euros," the company noted. Furthermore, the total backlog as of 30 June 2026 stands at 9,639.2 million euros (+2.6%), while the short-term backlog reaches 8,639.8 million euros, representing an activity coverage of 25.4 months of sales (improving from 24.3 months in June 2025).
OHLA has reminded that on 29 April 2026, the segregation of the Centro Canalejas Madrid (CCM) was completed, through which it obtained full independence in the management and control of the Galería Canalejas and the main parking facility.