OHL leaves another 16% on the stock exchange and puts at risk the level of the euro per share

OHL leaves another 16% on the stock exchange and puts at risk the level of the euro per share


MadridUpdated:

OHL fell 15.9% in the Stock Exchange session on Monday, with which its shares were about to close the day below the level of the euro per share, thus marking a new historical minimum.

The shares of the company participated by the group Villar Mir they were able to mark prices below the euro during the negotiation, since their price fluctuated between a minimum and a maximum of 0.987 and 1.264 euros per title.

OHL finally closed the session at 1.020 per share, which shows a decrease of 15.91% over the minimum with which Friday closed the stock market.

The construction company, which has already accumulated a devaluation of 75.6% so far this year, continues to find no fund to the steep declines recorded since the end of last September presented the semi-annual results with losses of 843 million euros

The firm that presides Juan Villar Mir fell again on Monday despite the fact that last Friday Fitch put in stable perspective the note of 'B +' that is assigned to the company, below the 'investment grade', which rules out discounts in this rating.

The rating agency attributed its decision to the changes that OHL has undertaken after selling its concessions business, such as the liquidation of all its debt, the simplification of its structure and the new board of directors.

In parallel, Fitch values ​​the fact that OHL you have limited your portfolio 'legacy project', a score of failed international projects, which currently impact their income statement. In this sense, the firm considers that even OHL could once again generate gross operating profit (Ebitda) in 2019.

In its report, the agency also highlights the change in the direction of the company and the simplification of the management structure, and the fact that this new team is focused on cutting costs and recovering the builder business and its profitability, while designing a new strategy that the company will follow once its adjustment is completed.

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