By 2020, Ohl Will Expand Its Losses By 5.7% To 151 Million Euros

2021-02-25   |   by CusiGO

Due to the influence of covid-19 and the deterioration of Villar Mir group’s financial instruments, OHL lost 512 million euros in 2020, an increase of 5.7% compared with 143 million euros in 2019. The epidemic has affected about 35 million people in construction and industrial enterprises and 36 million people in development enterprises, mainly affecting the financial assets of the kanaleja center and the city of mayakoba, while the financial instruments associated with related companies have deteriorated, especially the financial market The amount owed by Villar Mir group to OHL was $38.5 million. The shareholder reached an agreement with the company in December to pay certain collateral, including pacadar group.

Gross operating profit (EBITDA) was US $67.5 million, an increase of 4.2% over 2019, with all business units contributing positively. In 2020, the sales volume was 2.837 billion US dollars, 4.4% lower than that of the previous year. 76.4% were completed abroad, compared with 72.1% in the same period last year. In the distribution of sales by geographical region, the United States and Canada accounted for 42% of the total sales, Europe accounted for 37.3%, Latin America accounted for 18.9%, and others accounted for 1.8%.

By region, sales under construction decreased by 4.3% to US $2347.2 million, accounting for 83% of the company’s total turnover. OHL stressed that due to geographical diversity, this figure is “similar” to that in 2019, which helps to pass the U.S.A. 84.7% of the Department’s sales come from abroad.

The industrial area decreased by 23.8% to US $166.3 million, reflecting the impact of cowid-19, as well as the completion of some projects and the reduction of renewable energy activities. Sales in the services sector increased by 8.9% to US $3002 million, mainly due to cleaning, home care, urban services and maintenance activities. On the other hand, enterprises and other areas, including infrastructure development and promotion, reflected 17 million euros, an increase of 23.2%.

As of December 31, 2020, the total investment portfolio was US $4962.1 million, of which Europe accounted for 45.1%, the United States for 37.3% and Latin America for 16.3%. During this period (new works and expansion), the procurement volume was US $2760.8 million, 3.5% higher than that in 2019.

OHL had a liquidity position of EUR 664.3 million at the end of the year and redeemed bonds issued in 2012 in the first quarter of 2020 with an outstanding balance of EUR 73.3 million. It also signed a 140 million euro syndicated loan in April and received state support through the official credit institute (ICO). Net debt was $83.2 million.