OBRASCON HUARTE LAIN

What OBRASCON HUARTE LAIN does

OHLA (Obrascón Huarte Lain, S.A.) is a Madrid-headquartered, publicly listed global infrastructure group operating for over 115 years since its 1911 founding. The company runs four interconnected business segments — Construction, Industrial, Concessions, and Services — plus a Developments arm, delivering large-scale transport, civil, hospital, maritime, and energy infrastructure. Its portfolio exceeds €10 billion and spans 200+ high-speed rail projects, 80+ dams, 600+ maritime projects, 6,000+ km of roadways, 3,000+ MW of managed renewable energy, and 150+ hospital builds. The company is publicly listed in Spain (ES-HUA) and on OTCMKTS (OBSJF), with 10,000+ employees and operations in Spain, the USA (California, Florida), Sweden, the Czech Republic, and additional markets.

The company executes through competitive public tenders and direct private negotiation — a pure enterprise field-sales motion — with pricing set by project-by-project bidding rather than published rates. Revenue is generated primarily through progress-billed construction contracts (one-time project revenue), supplemented by recurring streams from concessions (toll roads, parking) and long-term asset management (Galería Canalejas, facility services). OHLA differentiates technically through proprietary Cubipod maritime armor technology, 300+ R&D+i projects, 60+ sustainably certified builds, and a digital platform combining BIM, GIS, and digital twins deployed across 100+ projects. Recent financial performance reflects a turnaround: Q1 2026 net profit of €7.8M reversed a €21.8M Q1 2025 loss, Q1 2026 EBITDA rose ~90.9% YoY to €48.3M, leverage improved to 1.7x net EBITDA by Q4 2025, and the full-year 2026 sales target is set above €4.1 billion with EBITDA above €215 million. The company is led by Executive President Luis Fernando Amodio Herrera and CEO José Antonio Fernández Gallar.

Name

OBRASCON HUARTE LAIN

Legal name

Obrascón Huarte Lain, S.A.

Website

https://ohl.es

Company type

Public

Founded year

1911

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

OHLA is a publicly listed Spanish global infrastructure group delivering construction, concessions, industrial, and services projects (railways, highways, hospitals, maritime works, renewables) for government and enterprise clients across Europe and the Americas, with a €10B+ portfolio and €4.1B+ annual revenue.

Ownership category

akta.pro rank

Product category

Infrastructure Construction Services

NAICS

Port and Harbor Operations (48831)

akta.pro primary industry

Asset Inspection, Monitoring & Digital O&M (Sensors/SHM, Drones, CMMS/EAM) (TLAJAAAK)

Keywords

• Infrastructure construction
• Civil engineering services
• Transport infrastructure
• Concession development
• Industrial construction

Headquarters

HQ city

Madrid

HQ country

Spain

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Construction Contracts: OHLA generates the majority of its revenue through large-scale construction contracts for public and private infrastructure projects including highways, railways, hospitals, and buildings. Revenue is project-based, one-time contract-driven, with long execution cycles and progress billing.
2. Concessions and Developments: Revenue from concession agreements and property developments including the full ownership and integral management of the Galería Canalejas de Madrid. These provide recurring income streams from tolls, leasing, and commercial operations.
3. Industrial Services: Revenue from specialized industrial services including renewable energy installations and maintenance, with over 3,000 MW managed.
4. General Services: Revenue from facility management and other operational support services provided to infrastructure assets.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

OHLA is a global infrastructure group that designs, builds, and operates large-scale transport and civil infrastructure projects, including highways, railways, hospitals, maritime works, and dams, for government and enterprise clients across Europe, North America, and Latin America. Beyond construction, the company operates infrastructure concessions, develops real estate assets such as Galería Canalejas in Madrid, delivers industrial engineering and renewable energy services (3,000+ MW managed), and provides facility management for built assets.

Product overview

OHLA Group is a global infrastructure company operating through five interconnected business segments: Construction, Industrial, Concessions, Developments, and Services. The company leverages specialized subsidiaries like G&O for railway projects and proprietary technologies such as Cubipod for maritime construction. Digital capabilities are embedded across operations through BIM, GIS, and digital twin technologies. The portfolio spans 60+ sustainably certified projects, 100+ BIM projects, 150+ hospitals, 200+ high-speed rail projects, 600+ maritime projects, 80+ dams, and 6,000+ km of roadways.

Differentiator

Problem solved

Functional benefit

Products and services

• Construction (Construcción) End-to-end civil construction of transport and public infrastructure including highways, railways, airports, ports, hospitals, dams, and buildings, delivered for government and enterprise clients globally under project-based contracts.
• Industrial Specialized industrial engineering, construction, and maintenance services for industrial facilities, including renewable energy installations, with 3,000+ MW managed across projects.
• Concessions (Concesiones) Development, financing, and operation of infrastructure concessions including toll roads, railways, and public facilities under long-term public-private partnership agreements.
• Developments (Desarrollos) Real estate and property development initiatives, including the Canalejas Gallery in Madrid under sole ownership and integral management, generating leasing and commercial revenue.
• Services (Servicios) Facility management, maintenance, and operational support services for infrastructure assets and built environments.
• Cubipod Proprietary concrete cube armor technology used in maritime and harbor infrastructure projects, providing an alternative to traditional breakwater construction methods.

Quantifiable outcome

• Q1 2026 net profit of €7.8 million vs. €21.8 million net loss in Q1 2025 — a full turnaround
• +4 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered core.

• Sando and ITERCONcoreStrategic or Co-development PartnerOHLA, together with Sando and ITERCON, is developing the new imec center in Málaga — a strategic project for semiconductor development in the European Union. The contract covers integral development of a highly specialized industrial complex with approximately 45,000 m² of built surface.
• G&O (Gestión y Organización)coreStrategic or Co-development PartnerOHLA's specialized subsidiary G&O is developing two key projects for the Algeciras-Madrid-Zaragoza Rail Highway, advancing toward more environmentally friendly transportation. G&O operates as a specialized division within the OHLA Group for rail highway initiatives.

Scale indicators18 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Webuild (Salini Impregilo): Italian global infrastructure specialist focused on large complex transport projects (high-speed rail, metro, bridges, dams, water). Highly comparable to OHLA's civil engineering core, including dams, rail, and maritime works, with significant European footprint.
• Sacyr: Spanish infrastructure operator active in construction, concessions (toll roads, airports), and industrial services. Closely comparable business mix to OHLA, including PPP concessions and P3-style project development.
• Acciona: Spanish-listed infrastructure and renewable energy group with construction and concessions businesses. Competes directly with OHLA in transport infrastructure and renewable energy BoP, with heavier weight on green energy project development.
• Ferrovial: Spanish infrastructure company focused on highways, airports, and construction services. Direct competitor in transport infrastructure EPC and concessions, with a stronger international footprint particularly in North America and the UK.
• ACS Group (Actividades de Construcci\u00f3n y Servicios): Spanish-listed global infrastructure conglomerate with Construction, Concessions, and Industrial Services divisions — directly overlapping with OHLA across transport infrastructure, concessions, and industrial EPC. Most direct domestic competitor and the benchmark for the Spanish construction model.

Broad incumbents

• Skanska AB: Swedish-headquartered global construction and project development company with strong public infrastructure exposure in the Nordics, UK, and US. Comparable to OHLA in transport infrastructure and sustainability credentials, particularly relevant given OHLA's Lund\u2013Arl\u00f6v win in Sweden.
• Strabag SE: Austrian-headquartered European construction group with strong presence in CEE and transport infrastructure. Overlaps with OHLA's rail and highway work, especially in Central Europe following OHLA's Czech Republic railway win.
• Vinci SA: French global infrastructure leader combining construction (Vinci Construction), concessions (Vinci Highways, Vinci Airports), and energy services. Overlaps with OHLA's full-lifecycle infrastructure model but at materially larger scale and with broader geographic reach.
• Hochtief AG: German global construction group, controlled by ACS, active in transport infrastructure, building construction, and PPP concessions across Europe, the Americas, and Asia-Pacific. Direct competitor in large complex tenders, with stronger US presence through Turner.
• Bouygues Construction: Division of Bouygues Group delivering complex building, civil works, and infrastructure projects globally. Direct overlap with OHLA in civil engineering and transport infrastructure, but Bouygues operates at larger scale with stronger residential and telecom exposure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about OBRASCON HUARTE LAIN