* H1 net down 36.1 percent at 57.5 million euros
* EBITDA up 3.9 percent to 490 million euros
* Revenue up 2 percent to 1.72 billion
* Shares down 4.8 percent
(Recasts with share price fall, analyst comment)
MADRID, July 30 Spanish infrastructure firm OHL
posted a sharp drop in half-year net profit, raising
concerns it would miss its full-year growth targets and sending
its shares to a seven-month low.
The builder, most of whose activities are beyond Spain,
announced a 36.1 percent decline in net profit to 57.5 million
euros ($77 million), hit by higher financial charges and a
heavier weighting of non-recourse debt.
That puts the group badly off kilter for goals of 10 percent
growth in revenue, net profit and earnings before interest,
taxes, depreciation and amortisation (EBITDA) for the full year.
Shares in OHL were down 4.8 percent to 29.065 euros at
around 0830 GMT, the biggest decline in Spain's blue-chip Ibex
index and versus a 1.2 percent decline in the European
The stock fell as low as 28.71 euros, its lowest since
"These results make it complicated for OHL to reach its
operating targets for the year," said Sabadell analysts in a
Broadly speaking, growth in its international activities,
particularly in Mexico, offset weaker activity in Spain where
the group said it was starting to see the end of a slump in
building after a housing bubble burst in 2008.
EBITDA rose 3.9 percent to 490 million euros while revenue
was up 2 percent to 1.72 billion.
(Reporting by Elisabeth O'Leary; Editing by Julien Toyer and