OTT-ONE begins to develop a specialized manufacturing plant with a high degree of protection

In addition to a high level of IT security, OTT-ONE is starting to develop a manufacturing plant using smart solutions, and related to this a specialized, innovative production environment. For the implementation of the project worth a total of nearly HUF 700 million, the company received a grant of more than HUF 310 million from the Economic Development and Innovation Operational Programme (GINOP). The development work is expected to be completed during 2021.

OTT-ONE is starting a development worth almost HUF 700 million in total, and for its implementation the company received a grant of more than HUF 310 million on the GINOP tender called „ Hungarian multi-program III. – Supporting the complex developments of small and medium-sized enterprises in the manufacturing sector with high growth potential”.

The aim of this construction work taking place at OTT-ONE’s rural site, is to set up an implantation plant for electronic devices (SMD) and to create an innovative, specialized production environment. Within the framework of the project, the closed production processes will be provided with smart solutions that guarantee a high level of IT security for the entire operation. The development works of the project are scheduled to be completed during 2021.

OTT-ONE achieved nearly HUF 3 billion in annual turnover in 2019

OTT-ONE Plc. successfully concluded the year 2019 with more than HUF 2.8 billion in annual turnover, an increase of over HUF 1.1 billion compared to the financial results of the previous year. The net profit of the company for 2019 was approximately HUF 204 million.

OTT-ONE Plc. has published its profit and loss account and balance sheet for the year 2019, based on which the company’s revenue exceeded HUF 2.8 billion last year and its net profit was more than HUF 204 million. Accumulated revenue of the company was more than HUF 1.1 billion higher compared to 2018 financial results. Following the trends from previous years, OTT-ONE intends to use its 2019 earnings to finance investments needed for further growth, and to put its after-tax profit into retained earnings.

In 2019, OTT-ONE has entered into many new contracts, further strengthening its market position. In addition to various security solutions, the company has focused on developing solutions based on artificial intelligence. As a result, OTT-ONE was able to, among other things, embark on a special R&D project for the detection of surface anomalies based on AI worth nearly HUF 700 million in 2020, for which OTT-ONE received a grant of nearly HUF 365 million. Online education, which draws heavily on the experience gained in the streaming business, was also in the company’s focus in 2019.

OTT-ONE also signed the largest contract ever for its operation: in 2019 it received an order of approximately HUF 2 billion to implement innovative IT and information security technology developments for a Hungarian customer. Another milestone in 2019 was the completion of preparatory work on a HUF 1 billion server investment in November. Fully self-funded server capacity not only supports the company in serving its existing customers at a high level but also creates brand new opportunities for the company.

Last year was also decisive for the company’s presence in the capital market: last spring the company’s shares were moved from the Budapest Stock Exchange’s T Market to the Standard Category and in the autumn it was included in the stock exchange index basket of mid- and low-market companies, BUMIX. In 2019, OTT-ONE also initiated preparations for a public capital market transaction to provide the funding needed for further growth.

OTT-ONE introduced innovative solutions in many new areas last year, further paving the way for market and customer growth. The company intends to stay on the path of growth, thus the company is constantly looking at the most appropriate sources of funding. OTT-ONE is active in industries with untapped potential, and the company expects to continue to grow.

OTT-ONE provides online educational solutions for HUF 150 million

OTT-ONE has signed an agreement with a Croatian client for the production and sale of an online learning system for approximately HUF 150 million.

The demand from various industries for the rapid implementation of systems and solutions enabling distance education and remote working is on the constant rise. Based on the expertise of OTT-ONE, these demands will further increase by the emergence of global extraordinary conditions. It is expected that in the next period, the market interest in these services will increase in Hungary and on an international scale as well. Due to the extensive research and development process behind the online education platform solution and the diverse experience in the field, OTT-ONE is able to meet the emerging needs of the clients in a short time.

The online education solution provided by OTT-ONE will be introduced to several market participants in the upcoming period – the company has already been approached by various associations who are interested in the product.

The online education platform is an innovative development that is becoming a must for more and more companies and educational institutions utilizing distance education. The system offered by OTT-ONE provides a niche solution, especially in the current state of global emergency, which requires a seamless transition to online learning plaftorms.