OHLA - comment

Big positive news this morning from where we are sitting, even if largely priced in and for a long time already. The Court of Cassation of Qatar (the highest court) rejected all remaining appeals and counterclaims and firmly upheld the Kentz-Voltas subcontractor consortium's claims for unpaid work and delay damages. After the International Chamber of Commerce Arbitral Tribunal in London dismissed 96% of Qatar Foundation's €950+ million claim back in June 2025, OHL confirmed its 55% share of the sum payable was €26.4m. Technically, that's a little setback in the final instance, but overall, it draws a final line under a gigantic hangover from OHL's previous life.