The construction company OHLA reduced its losses in the first quarter of the year by 35%, to 7.8 million euros, thanks to the improvement in income, in which foreign business is gaining weight.

The group had a turnover of 637 million euros in the quarter, 16% more than a year earlier, encouraged by the boost from regions such as the United States, which concentrated 45% of the activity, compared to 21% from Europe. Construction contributes 94.5% of sales and, of this percentage, almost 80% comes from outside Spain.

The gross operating profit (ebitda) was positive, of 20 million euros in the first quarter, almost 40% more. In the construction business, in which it has the main projects in the United States, the margin is 4.5%.

The company chaired by Luis Amodio highlights the good operating performance and the consolidation of margins. He is also working on the sale of his services division, which has led him to also offer his accounts without including this part of the business.

Among the divestments is that of 50% in the Canalejas project in the center of Madrid along with other assets such as those in the services area. The objective of sales is to reduce debt.

Contracting in the first quarter for both new construction and extensions stood at 598 million euros, a level similar to that of the same period of the previous year.

The group has a portfolio of 6,381 million euros, also comparable to that of the start of 2022, which guarantees activity for almost two years.