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Added to YB: 2026-06-23

Pitch date: 2026-06-19

OHLA.MC [bullish]

Obrascón Huarte Lain, S.A.

Author Info

My goal with European Stock Picks is to present companies which are flying under the radar which I find interesting. Of course I put my money where my mouth is so I have a position in every company I present here. You can expect a once a month deep dive into an European company which I think offers potential high returns in the long term. I also write a follow-up post after every earnings season in order to stay up to date with the stocks I have covered. Sign up for their newsletter.

Company Info

Obrascón Huarte Lain, S.A. engages in the construction and concession businesses in the United States, Canada, Mexico, Chile, Peru, Colombia, Spain, Central and Eastern Europe, Northern Europe, and internationally.

Market Cap

EUR 657.0M

Pitch Price

N/A

Price Target

1.08

Dividend

N/A

EV/EBITDA

2.93

P/E

24.85

EV/Sales

0.18

Sector

Construction and Engineering

Category

turnaround

Show full summary:
Obrascón Huarte Laín S.A.

OHLA.MC: Spanish construction turnaround at 4x EV/EBITDA vs peers 7-9x. EBITDA tripled to €208m, leverage cut 11.3x→1.7x, legal disputes cleared. Two assets held for sale (Canalejas mall, Ingesan ~€350m) could wipe out €254m net debt. PT €1.08 (+128%); 2029 €300m EBITDA target = €1.52 (+220%). Catalysts: divestments, refi, rating upgrade, dividend, index inclusion. Risk: no sale before 2027 coupon jump to 14%.

Read full article (21 min)