OHL closes the first quarter with EBITDA of 9.1 million euros

This is a machine translation of the original press release issued in Spanish

Madrid, May 13, 2019.-.

OHL has obtained results in the first quarter of 2019
positive at the operational level. EBITDA, in the reference period, was 9.1 million euros, compared to -37.0 million in the first quarter of 2018. All of the company's activities: Construction, Industrial and Services, present a Positive EBITDA in this first quarter of 2019.

OHL remains firm in its recovery strategy of the builder business. In the first quarter of the year, the result of the measures implemented by the company was reflected: control of the portfolio, strict recognition of income in the projects, reduction of structural costs and organizational changes. These measures will allow greater
margins at the operational level, as the year progresses.

The effects of these actions are also seen in the maintenance of sales levels, which stood at March 2019 at 648.7 million, and gross margins at project level close to 6.5%. With respect to cash, during the first quarter of 2019, its consumption was 50.2% lower compared to the same period of 2018.

The net profit attributable to March 2019 stands at -7.7 million euros, compared to the losses of -144.9 million registered until March 2018.

Liquidity

During the first quarter of 2019, the available liquidity position with recourse stood at 901.0 million euros. This liquidity provides the necessary stability to execute the company's Business Plan.

Wallet

The total short-term portfolio as of March 31 amounts to 5,336.4 million euros, with a total of 643.4 million euros in the quarter. Regarding the construction business, the portfolio reached an amount of 4,715.1 million euros, representing 23.6 months of sales, having contracted projects for 533.4 million euros: 47.5% in the US, 30 , 6% in
Europe and 14.3% in Latin America.