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One Tech Holdings, a Tunisian export-oriented group led by multimillionaire businessman Moncef Sellami, reported a double-digit increase in revenue at the end of 2021, as all operating segments delivered impressive performance for the year.
One Tech, a global industrial player and Tunisia-based export-oriented group founded by Sellami in 1978, is a leading player in the automotive, energy and industry sectors.
The company is the first in Africa to meet European quality standards for semiconductors. Sellami, its chairman, owns a 25.3-percent stake in the company valued at TND177 million ($61.37 million).
Despite the challenges that the group faced during the year as a result of COVID-19, raw material shortages and major disruptions in international transportation, One Tech demonstrated a strong ability to contain these risks by delivering a strong financial performance at the end of the fiscal year.
Figures contained in the group’s activity indicator for the financial period ending Dec. 31, 2021 revealed that it achieved positive performance in all its operating segment compared to 2020, as it recorded consolidated cumulative revenue of TND905 million ($313.9 million).
In comparison with the previous year, its revenue increased by 26 percent, or TND186.5 million ($64.7 million), from TND718.6 million ($249.2 million) in 2020 to TND905.1 million ($313.9 million) in 2021.
The double-digit increase in revenue was driven by a strong performance in its export markets, which increased by 32.2 percent compared to a 3.4-percent drop in local sales.
While commenting on the group’s performance, the board noted that the robust performance reflects improvements across its various business divisions, operating activities that are very much more oriented toward improving profitability as opposed to increasing volume, and investments in quality assets and the introduction of new technologies.
During the year, One Tech maintained a fairly consistent pace of physical investments totalling TND27.9 million ($9.7 million), an increase of 8.2-percent from their 2020 level. The entire investment budget for 2021 was TND35.1 million ($12.2 million).
As of press time yesterday, Jan. 23, the group’s shares were worth TND8.7 ($3.02), down 11 basis points from their opening price on Fri., Jan. 21. The group’s market capitalization is TND699.48 million ($242.6 million) at the current price.
