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The literature is relatively poor in terms of empirical studies about Organizational Learning impact on performance. This is why this paper considers the relationship between Organizational Learning and Business Performance. The literature review offers a new conceptual framework that is then applied to a case study on a small-size Engineering, Procurement and Construction (EPC) company. The results show that Organizational Learning empowers the business performance but that it also represents a competitive advantage. In order to sustain this advantage, the study analyses the results in details and provides concrete recommendations for management supported by a profitability analysis. Although the findings of the case study are relatively specific to a certain industry, the conceptual framework can be expanded to any industry.