OHLA has recorded a net profit of €0.5 million in the first half of 2026, a figure that compares favourably with the accumulated losses of €29.7 million between January and June 2025, despite reflecting the impact of the “temporary and extraordinary” circumstances associated with the Flaggers litigation on one of its construction projects in New York. Excluding this impact, the attributable net profit would have amounted to €27.1 million.
“It is important to highlight that the group continues to develop and implement itsplan to reduce structural costs. This is contributing to the improvement in margins and efficiency across the entire organisation, standing at around 3.7 per cent of turnover”, the company explained in a statement sent to the Spanish National Securities Market Commission (CNMV).
Between January and June, OHLA achieved an EBITDA of €103.6 million, a year-on-year increase of 14.3 per cent. In this regard, excluding the impact of the aforementioned litigation,recurring EBITDA rose to €116.9 million, 39 per cent higher than that recorded in the same period of the previous financial year, with an EBITDA margin of 6.7 per cent.
Including the Services division, the group’s turnover reached €2.035 million, representing a 3.4% increase compared with the same period in 2025. Furthermore, during the second quarter, OHLA recorded operating cash flow of €96.4 million, partially offsetting the usual seasonal effect of the first quarter and enabling the group to close the half-year with a liquid position (including drawdowns) of €711.3 million, compared with the €613 million recorded at the end of March.
OHLA’s positive operational performance has been driven mainly by the solid performance of the Construction division, which achieved an EBITDA of €120.1 million (an increase of 10.7 per cent), raising its margin on sales to 7.3 per cent, compared with the 6.8 per cent recorded a year earlier. Furthermore, turnover grew by 3.8% to €1,650 million, whilst the order backlog stood at 28.3 months, compared with 26.8 months in the same period of 2025, reinforcing the business’s future visibility.
The group’s total order intake for the half-year amounted to €1,838.3 million, representing a book-to-bill ratio of 0.9x for the period. “The order book maintains an appropriate diversification in terms of geography, size and type, with all projects currently under construction being worth less than €400 million,” the company noted. Furthermore, the total order book as at 30 June 2026 stands at €9,639.2 million (up 2.6%), whilst the short-term portfolio stands at €8,639.8 million, representing 25.4 months’ sales coverage (an improvement on the 24.3 months recorded as at June 2025).
OHLA noted that on 29 April 2026, the spin-off of the Centro Canalejas Madrid (CCM) was completed, through which it gained full independence in the management and control of the Galería Canalejas and the main car park.
