One Tech Group Faces Challenging Economic Environment in Q1 2024

In the first quarter of 2024, the One Tech Group faced a tense global economic environment, marked by rising interest rates that led to a contraction in demand on export markets. This situation particularly affected the construction and automotive sectors, resulting in a 10% decline in the group's revenue compared to the previous year, with consolidated revenues amounting to 270 million dinars.

Despite this decline, the group's exports represented 83% of total revenues, reaching 224 million dinars, although this constitutes a 14.5% decrease compared to the previous quarter.

Cable Segment

The cable segment generated revenues of 121 million dinars, marking a 15.7% annual decline. On the local market, a 30% growth was observed. Exports accounted for a significant share of revenues, at 70%.

Negative Impact of Aluminum Usage

The increased use of aluminum in product composition had a negative impact on revenue value.

Mechatronics Segment

The mechatronics segment demonstrated better resilience, with a more moderate decline of 5.2%, resulting in revenues of 137 million dinars.

Investments and Financing

In terms of investments and financing, the One Tech Group continued its commitments to improving quality and productivity, as well as sustainable development, with investments of 7.4 million dinars, representing a 56% increase compared to the previous year. The group's overall debt also decreased by 4.3%, standing at 142.7 million dinars.