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.

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