OHL posts profit increase
By Sarah Ann McCay02 March 2014
OHL Group has posted a 4% increase in net profit for 2013, achieving €270.4 million, despite an 8.6% decrease in sales to €3.7 billion.
The Spanish contractor enjoyed increased success internationally, with overseas contracts now accounting for 75% of sales and 92% of gross revenue.
Central and South America contributed the largest portion of sales at 29.5%, followed by OHL’s domestic market of Spain with 25.3%. The USA and Canada accounted for 16.7% of sales, while Middle East and North Africa totalled 14.3%. Central and Eastern Europe attributed 13.4%.
In the Construction Division, a 9% growth abroad did not offset the reduction in activity in Spain, which was down 34.2%, leading to a total drop in turnover of 2.5% to €2.7 billion.
However, the company’s construction division closed the year with a backlog of €8.1 billion, after winning a number of significant contracts during the year, including the Ural-Polar Railway in Russia, the CHUM Hospital in Montreal (Canada), the Marmaray Tunnels in Turkey and the Mecca-Medina High-Speed Rail in Saudi Arabia.