Sabadell - Obrascon Huarte Lain SA (OHL) OHL: ESPERANDO EL DELIVERY A NIVEL DE CAJA... (ANÁLISIS BANCO SABADELL)

Report

Sabadell

Research Department

EUR 200.00 For Business Accounts Only

OHL: ESPERANDO EL DELIVERY A NIVEL DE CAJA... (ANÁLISIS BANCO SABADELL)

Esperando un delivery a nivel de caja…VENDER.
Tras la favorable evolución operativa en 2020 revisamos estimaciones +39% y +78% promedio en EBITDA y BDI’20/23, pero aumentamos un +15% las necesidades de circulante a futuro, dejando el P.O. en 0,60 euros/acc. (vs Bajo Revisión; -7,7% potencial). Aunque no descartamos una reacción positiva a los Rdos.4T’20 (esperamos EBITDA y DFN de 22 M euros y 109 M euros vs guidance 15 y 131 M euros) reiteramos VENDER. Condicionamos una visión más positiva al cierre de riesgos de proyectos Legacy y a la generación de FCF positivo (2023 BS(e)) para afrontar con garantías los vencimientos de sus bonos en 2025-26.

19/02/2021 5 ES

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.

See profile

ES0142090317 Madrid Stock Exchange Spain

Provider

Sabadell

See profile

Analysts

Research Department

Other Reports on these Companies

Sabadell

IBERIAN DAILY 19 MAY (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: OHLA. IBEX hits new yearly high above 14,000 It was a week of gains on both sides of the Atlantic, where stock markets remain euphoric, pricing in an indefinite easing of trade tensions. In the STOXX 600, Technology and Retail were the sectors posting the biggest gains, whereas Insurance and Food fell the most. On the macro side, in the US, May’s U. Michigan consumer confidence fell more than expected, with inflation expectations rising to a record high, whereas April’s building permits fell more than expected and housing starts rose slightly more than expected. Separately, Mood...

EUR 100.00

May 19, 2025 May 19, 2025 1 EN

Sabadell

INFORME DIARIO 19 MAYO (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: OHLA. El Ibex 35 marca nuevos máximos anuales por encima de 14.000 puntos. Semana de subidas en las bolsas a ambos lados del Atlántico que siguen eufóricas descontando una relajación indefinida en las tensiones comerciales. En el STOXX 600 Tecnología y Retail fueron los sectores que más subieron frente a Seguros y Alimentación que fueron los que más cayeron. Por el lado macro, en EE.UU. la confianza del consumidor de la U. de Michigan de mayo cayó más de lo esperado con las expectativas de inflación repuntando hasta máximos históricos mientras qu...

EUR 100.00

May 19, 2025 May 19, 2025 1 ES

Sabadell

IBERIAN DAILY 08 MAY + 1Q’25 RESULTS. HIGHLIGHTS AND REST OF PREVIEWS (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: AMADEUS, ELECTRICITY SECTOR, INDRA, OHLA, ROVI. At the end of today’s report, and during the entire results season, we will include a presentation with positive and negative results highlights and previews for the 1Q’25 results to be released over the coming days in Spain. The markets continue to digest the rally European stock markets fell ahead of the Fed meeting, which kept interest rates unchanged, as expected. In the STOXX 600, the day’s winners were Household Goods and Media, whereas Retail and Pharma suffered the biggest losses. On the macro side, the Fed and J. Powell ...

EUR 100.00

May 8, 2025 May 8, 2025 1 EN

IBERIAN DAILY 20 MAY (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: N/A. IBEX nears 14,100 points There was little impact on European markets from Moody’s downgrade of the US’s rating downgrade, except the Italian MIB, which fell more than -1.0%. In the STOXX 600, the best-performing sectors were Telecoms and Travel & Leisure, whereas Autos and Energy saw the biggest losses. On the macro side, in the euro zone, April’s final inflation confirmed the 2.2% YoY for the general figure and 2.7% core. The new EC forecasts cut euro zone growth in 2025-26 to 0.9% and 1.4% (vs. the previous 1.3% and 1.6%), whereas in Spain it raised its forecasts to 2.6% ...

EUR 100.00

15h / 29m 15h / 29m 1 EN

Research Department

Research Department

INFORME DIARIO 20 MAYO (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME: N/A El Ibex cerca de los 14.100 puntos Poco impacto en los mercados europeos tras el recorte de calificación de Moody’s a EE.UU. a excepción del MIB italiano que terminó con pérdidas superiores al -1,0%. En el STOXX 600 los mejores sectores fueron Telecomunicaciones y Viajes&Ocio, mientras que Autos y Energía sufrieron las mayores caídas. Por el lado macro, en la Eurozona la inflación final de abril confirmó el 2,2% interanual en la general y el 2,7% en la subyacente. Las nuevas previsiones de la Comisión Europea recortaron el crecimiento de la Eurozona e...

EUR 100.00

15h / 37m 15h / 37m 1 ES

Research Department

Research Department

VISIÓN TÁCTICA DE LOS MERCADOS 19 MAYO (ANÁLISIS BANCO SABADELL)

EUR 100.00

May 19, 2025 May 19, 2025 1 ES

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

OHL: ESPERANDO EL DELIVERY A NIVEL DE CAJA... (ANÁLISIS BANCO SABADELL)

IBERIAN DAILY 19 MAY (ANÁLISIS BANCO SABADELL)

INFORME DIARIO 19 MAYO (ANÁLISIS BANCO SABADELL)

IBERIAN DAILY 08 MAY + 1Q’25 RESULTS. HIGHLIGHTS AND REST OF PREVIEWS (ANÁLISIS BANCO SABADELL)

IBERIAN DAILY 20 MAY (ANÁLISIS BANCO SABADELL)

INFORME DIARIO 20 MAYO (ANÁLISIS BANCO SABADELL)

VISIÓN TÁCTICA DE LOS MERCADOS 19 MAYO (ANÁLISIS BANCO SABADELL)

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe