OHL closed 2004 with a notable increase in its net profit (ES)

During the financial year 2004, the construction and services group OHL obtained a net profit of €57.4 million, with an 18.2% increase, while its orders book rose by 17.9%, up to €16,466 million. These results confirm the upwards tendency in the Group´s evolution, based on the good performance of its international construction and concession activities.

The OHL Group closed 2004 with a turnover of €2,230.5 million, while net operating profits (EBITDA) reached €261.6 million. For its part, ordinary profit rose to €112.3 million, and net profit stood at €57.4 million.

The orders book totalled €16,466.59 million at the end of 2004, of which 12,750 corresponded to long-term orders, which led the way with a growth of close to 20%, with the rest, short term, showing an increase of 12.3%.

International construction activity, which headed the Group´s notable growth in 2004, become consolidated in the regions of Latin America and eastern Europe. Its billing contributed 22% of the company´s total, eight points up on the previous year.

The concession activity also progressed at a very good rate and it now contributes 36% of the EBITDA for the entire Group. Billing of this concessions activity grew 30.9% and the EBITDA rose by 37.7%.

As far as national construction is concerned, which accounts for 61% of sales, activity here dropped back by 6.6% in 2004, though the EBIT improved its margin by a significant 6.4%, with a notable increase in the average size of works.

The short-term national construction portfolio increased 16.3%, up to guaranteeing 23.4 months of activity, providing a good launch-pad for the financial year 2005, with a civil works portfolio standing at an all-time high of €1,881 million.

Source: OHL

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