One Tech Holding Reports 10% Decline in Consolidated Revenue for Q2 2024
At the end of the second quarter of 2024, One Tech Holding recorded a 10% decline in its consolidated revenue, standing at 262 million dinars compared to 293 million dinars during the same period last year.
This decrease is attributed to a contraction in demand on export markets, affecting both the building and automotive sectors. However, an effort to rationalize the product mix has allowed for an improvement in operating margins compared to last year.
Exports accounted for 85% of the group's total revenue for the first half, reaching 452 million dinars.
Production showed a more moderate decline of 8.5%. Meanwhile, the revenue of the cable division reached 249 million dinars, with a significant proportion of exports at 73% of revenue, despite a notable growth in the local market.
For the mechatronic division, revenue stood at 267 million dinars, down 6.1% compared to last year.
The group continued to invest in quality improvement, productivity, and sustainable development, with an envelope of 14.4 million dinars, up 24% compared to last year.
Global debt decreased by 7.8%, reaching 142 million dinars, mainly due to a reduction in long-term debt.
One Tech is implementing an operational transformation plan for its mechatronic division, aiming to leverage synergies and improve the added value of modules while diversifying activities. International acquisition projects are also underway to strengthen access to technology and improve customer service.