Report
Maxime Kogge

OHL : Towards a debt restructuring?

Under the helm of the new management team led by José Antonio Fernández Gallar since June 2018, OHL has made headways in project execution and de-risking. However, even against the favourable macro backdrop of 2019, EBITDA remained low and cash generation significantly negative as legacy projects continued to weigh while recent contracts were awarded on thin margins. - While 2020 was initially set for another improvement, the Covid-19 pandemic is now leading to additional costs and...
Underlying
Obrascon Huarte Lain SA

Obrascon Huarte Lain is an international concession and construction groups based in Spain. Co. maintains significant operations in 30 countries across all five continents. Co. is engaged in hospital and railway construction, transport infrastructure concessions, oil and gas, energy, solids handling and fire protection systems and international contracts. Co.'s operations are organized along four divisions: OHL Concesiones, OHL Construccion, OHL Industrial y OHL Desarrollos. Co. is also engaged in real state project developments of mixed use managed by the international hotel chains.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Maxime Kogge

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