OHLA - comment

All eyes are on the restructuring, but the operating results published late last night were marginally below our expectations. Given the distractions of the capital restructuring, this is not a bad performance. Revenue was €866m vs €906m forecast, EBITDA was €30m vs €40m estimated. A worse-than-expected performance in the construction division negatively impacted EBITDA margins. The main story remains the recapitalisation.

https://ohla-group.com/wp-content/uploads/2024/11/OHLA-Results-9M24.pdf