The construction company OHL continues in free fall on the Stock exchange with descents to the opening of 17% after reporting that between January and September recorded loss record for value of 1.335 million, mainly due to the review of problem projects and the sale of its business Concessions this Thursday the crash came to the 18,93% at the end of the session.
About 9.15 hours, the shares of OHL, at times, were inhibited from trading by the high demand for exchanges that hinders the fixing of prices, are listed to 0.62 euros, lower price on a 17.25 % to the closing Wednesday (0,75 %).
Thus, the company is traded at minimums since 1997 and is about to quote the historical minimum that marked the January 14, 1993, a price that contrasts with the peak touched in January 2007 (20.6 million euros).
The construction company yesterday presented their accounts at the close of the market, results that were anticipated by some investors.
And is that the concession announced yesterday said losses in the first three quarters of the year after executing a deterioration of their projects and claims that the company is open in its different businesses. The setting includes also the losses accounting to be harvested after the sale in April of OHL Concessions to fund australian IFM by 2.235 million euros, a value lower than that which was recorded in their books.
in Addition to these impacts, the construction of the family Villar Mir reflects a strong deterioration of its sales, affected by lower activity in the branches of construction and industrial. This decline is 14%, and put the figure of business to 2,048 million euros in the first nine months of the year.
The gross profit or ebitda also suffers to register a negative result of 467 million euros. For its part, the portfolio of projects -that mark the future viability of a group of infrastructure – continues to decrease to 5.151 million euros, according to the group ensures more than 26 months of work. At the close of the past year, this portfolio amounted to 5,600 million euros. Close to 40% of the projects are from USA, 32% from Europe and 25% in Latin america.
“This portfolio does not include 521,6 million euros corresponding to the works for the concessions with Aleatica: Evitamiento Chimbote, Puerto Valparaiso, Camino Nogales Puchuncavi and Bridge Industrial bio-Bio, the not formalized contracts to date”, explains the group.
The best record of the account of results of the building is linked with its debt reduced by more than 54% in this period due to the amortization carried out after the sale of its concessions subsidiary.
on the other hand, the Services division grew 14% in turnover to € 195 million -a 10% of the total – by the positive evolution of the business of cleaning, maintenance and energy efficiency, says the company.
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