During the financial year 2004, the construction and services group OHL obtained a net profit of â¬57.4 million, with an 18.2% increase, while its orders book rose by 17.9%, up to â¬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 â¬2,230.5 million, while net operating profits (EBITDA) reached â¬261.6 million. For its part, ordinary profit rose to â¬112.3 million, and net profit stood at â¬57.4 million.
The orders book totalled â¬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 â¬1,881 million.
Source: OHL
