Business Results
Construction company OHLA closed the first half of 2026 with a positive net result and recurring EBITDA of 116,9 million euros, 39% higher than in 2025. The company consolidated its profitability driven by the Construction division and successfully resolved a key lawsuit regarding the M-12 motorway.
The construction OHLA It has presented solid results for the first half of 2026, achieving a net profit attributable to shareholders of €0,5 million. This result was temporarily impacted by extraordinary litigation. Flaggers, amounts to 27,1 million euros on a recurring basis, reversing the losses of 29,7 million from the same period in 2025.
This financial performance not only consolidates the sustained improvement of its main indicators, but also reflects a remarkable strength in its operational capacity and value generation for the group's foreign business.
Profitability growth and financial strength
The operating profitability of OHLA has experienced significant growth. The Group's EBITDA reached €103,6 million. However, excluding non-recurring items, the Recurring EBITDA rose to 116,9 million euros, which represents a increase of 39% compared to the previous year. This figure places the EBITDA margin at a competitive 6,7%.
Consolidated sales, including services, reached €2.035 million (+3,4%). Furthermore, the company recorded significant cash flow generation from its operations during the second quarter, amounting to €96,4 million. This injection has allowed it to close the first half of the year with a recourse liquidity position of €711,3 million, higher than the €613,0 million recorded at the end of March.
The Construction division as an engine of growth
The main driver of these results was the strong performance of the Construction division . This business area achieved EBITDA of €120,1 million, 10,7% higher than in the first half of 2025, and increased its profit margin from 6,8% to 7,3%. The division's revenue grew by 3,8% to €1.650 billion.
A key piece of data for future business visibility is the activity coverage, which stood at 28,3 months , improving on the 26,8 months of the same period of the previous year and reinforcing the portfolio of international and national projects.
| Financial Indicator | Figure (1S 2026) | Variation vs. 1H 2025 |
|---|---|---|
| Recurring Net Result | 27,1 M€ | (vs. -€29,7M) |
| Recurring EBITDA | 116,9 M€ | + 39 % |
| EBITDA Margin | 6,7 % | N/A |
| Consolidated Sales | 2.035 M€ | + 3,4 % |
| Liquidity with recourse | 711,3 M€ | (vs. €613,0M in March 2026) |
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