Highlights of the Consolidated Income Statement referring to the 2016 financial year are set out below:
Considering the foregoing, the normalized Income Statement for the 2016 financial year presents:
The main headings on the Consolidated Balance Sheet are:
This heading takes in all of the Group’s concession assets, both those under the intangible asset model as well as those under the financial asset model.
At December 31, 2016 totalled 2,439.7 million euros, representing 18.9% of the total assets and decreasing by 607.3 million euros with respect to the figure at December 31, 2015, due to the net effect of:
The comparison of the borrowings at December 31, 2016 with those at December 31, 2015 is as follows:
59% of the gross recourse debt matures between 2020-2023, in respect of the bonds issued, that is, 14% in 2019 and the rest, consisting of renewable credit lines and others, in 2017.
The table shows the recourse liquidity at December 31, 2016 and at December 31, 2015.
The recourse availability of the OHL Group totals 1,645.4 million euros.
The Group’s recourse liquidity, measured as the cash and cash equivalents plus the available recourse financing, totals 897.0 million euros.
With respect to the total gross borrowings, 86.0% is long-term, while the remaining 14.0% is short-term.
The gross non-recourse debt totalled 2,872.4 million euros, that is, 65.4% of the total gross borrowings, decreasing by 1,328.8 million euros, due mainly to:
The share capital at December 31, 2016 totalled 179,255,398.80 euros, represented by 298,758,998 ordinary shares with a face value of 0.60 euros each, all belonging to a single class and series, listed at 3.30 euros and with a P/E ratio of -2.3 on the attributable net profit for 2016.
During 2016, a total of 850,290,271 shares (284.6% of the total tradable shares) were traded on stock exchanges, with a daily average of 3,308,522 securities and a share price depreciation of -37.5% in the year.
At the end of the year, OHL held a total of 11,961,801 shares, equivalent to 4.004% of the company’s current capital. This figure includes the purchase of 3,453,908 shares from the stock option plan for executives of the company, which finalised on March 21, 2016.
This stock option plan has been cancelled without any income for any of the executives involved, due to the negative performance of the share.
The recourse availability of the OHL Group totals 1,645.4 million euros and its recourse liquidity, 897.0 million euros.
Most significant details of the bonds issued by OHL and OHL Investments, S.A., a subsidiary of OHL Concesiones:
OHL México, S.A.B. de C.V., a subsidiary of the Concessions division of the Group, is listed in Mexico.
Its evolution during 2016 on the Mexican Stock Exchange is reflected on the following chart:
During 2016, 850,290,271 shares were traded on the stock exchange, representing 284.6% of the total tradable shares, with a daily average of 3,308,522 securities.
The OHL Group has belonged to the FTSE4Good Ibex sustainability index continuously since its launch in 2008. Its presence on this index ranks the company as a committed security and of particular interest to those investors who combine their profitability targets with their concern for ethical, social, environmental and good governance issues in business management.