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 has sold its online education solution for more than EUR 1 million

OTT-ONE has sold its online education solution to another foreign customer. Under the terms of the agreement, the company will provide more than EUR 1 million worth online distance learning and remote work systems to the customer.

With the outbreak of the coronavirus pandemic, certain global lifestyle trends – the spread of home office and online education – have accelerated further, therefore there has been more interest than usually in OTT-ONE’s developments in the areas of streaming and online education since the beginning of the unusual situation. As the effects of the pandemic are expected to be present in the long run, these business lines and developments of the company will continue to be part of the core activity.

The OnlineLearningPlatform (OLP) is an innovative, streaming-based educational framework, which combines the features of digital training systems and various online communication platforms, while it provides a significantly higher level of data security than other market-based solutions. Thus, in addition to general e-learning goals, it can also be used in the field of special coaching activities and corporate training.

OTT-ONE has delivered 3 million protective masks to ÁEEK

On April 23, 2020, the delivery of three million European-certified protective masks ordered as part of a high-value agreement between OTT-ONE Plc. and the National Healthcare Services Center (ÁEEK) was completed, so the contract was fulfilled.

Pursuant to the contract concluded with the National Healthcare Services Center (ÁEEK) on 23 April 2020, OTT-ONE Plc. delivered protective masks to the country during the second and third quarters in several installments. A performance protocol has been signed today, so the contract can be considered completed.

At the beginning of the coronavirus epidemic, OTT-ONE entered the medical devices market to meet the epidemiological situation through its business relationships in China. It supplied 500 professional ventilators worth HUF 4.7 billion to the Ministry of Foreign Affairs and Trade and another 300 ventilators, accessories and three million masks to the National Healthcare Services Center worth a total of HUF 7.7 billion.

OTT-ONE closes the first half of the year with a revenue of nearly HUF 7 billion

OTT-ONE Plc. achieves its highest operating revenue of almost HUF 7 billion in the first half of the year, which is nearly HUF 5.5 billion higher than in the same period of last year, states the company’s business report published on the Budapest Stock Exchange. During the first half of the year, the company successfully adapted to the changed market conditions, and carried out a large-scale profile cleaning, which helps to focus on the company’s core activities and ensure successful operation in the long run.

Listed in the Standard category on the Budapest Stock Exchange, OTT-ONE Plc. has published its business report for the first half of 2020. According to the statement, the company achieved the best sales revenue of its operation so far in the first half of the year, which increased four times the value of the first half of 2019, to almost HUF 7 million.

Sales of healthcare products accounted for 70% of the nearly HUF 5.5 billion increase in the income. The company’s EBITDA (earnings before interest, taxes, depreciation and amortization) was HUF 123 million in the first half of the year, and its pre-tax profit was HUF 727.000. The latter results were largely determined and shaped by the fact that in the first half of the year the company reviewed its current operations and future opportunities and decided to discard and devalue certain self-developed assets as they do not fit into the company’s core business and the association does not intend to deal with them in the future. The write-down of assets totalling HUF 167 million, without which the operating profit for the first half of 2020 would have reached HUF 50 million, was made possible by the favourable financial result. At the same time, profile cleansing strengthens the company in the process of prioritizing its core activities as well as effectively operating its focus areas.

The coronavirus pandemic that spread to Hungary during spring as well, affected all industries, however the unusual situation did not influence negatively the core activities of OTT-ONE, and in fact, the number of inquiries increased in some areas, as well as capacity requirements. During the spring wave of the pandemic, the company signed agreements with two state actors, the Ministry of Foreign Affairs and Trade and the National Healthcare Service Center worth a total of more than HUF 12,4 billion. While the equipment and ventilators manufactured for the Ministry of Foreign Affairs and Trade have been delivered, the order made by the National Healthcare Service Center will be fulfilled in the second half of the year, which will increase OTT-ONE’s income in 2020 by HUF 7,7 billion.

OTT-ONE has also reached several other milestones in the first half of the year, of which the company’s research and development project based on artificial intelligence stands out, with a total cost of more than HUF 662 million. The name of the project is “Surface Anomaly Detection (SAD)” – identification of foreign objects in protected areas and critical routes. The number of inquiries has increased in some business lines, partly due to the appearance of new practices – such as teleworking- as a result of the coronavirus. As part of this, fulfilling an order of more than EUR 400.000, OTT-ONE sold its self-developed online education platform, which offers the possibility of online distance learning, in Croatia in March 2020.

One of the most significant events outside the reporting period was the start of the expansion of the server center, which has been operating since December 2019: at the beginning of July, the company decided to expand its server capacity worth nearly EUR 2 million.

From a perspective of its presence on the capital market, it was a significant event that OTT-ONE joined the market development program offered by the Budapest Stock Exchange, within the framework of which MKB Bank Plc. started to prepare the research of the company shares.

This year also posed a number of challenges for OTT-ONE, but at the same time, the company has adapted extremely well to the changed circumstances, as a result of which it has extablished itself in new areas in addition to its core business. Although profile cleansing has had a negative impact on the half-year figures, it will clearly help growth in the long run.

In the future, OTT-ONE Plc. will primarily continue to develop innovative market solutions and products in the fields of IT security, security technology, as well as streaming, artificial intelligence solutions and custom software.

Its operation can still be divided into the following segments: video-based content service (streaming business), IT security (security business), the development and operation of online education platforms and custom softwares.

These activities are planned to be complemented by trade with various healthcare products and the provision of services related to healthcare products.

OTT-ONE Plc.’s business milestones in the first half of 2020:

  • In February 2020, the company won a grant of more than HUF 300 million in the „Vállalatok K+F+I tevékenységének támogatása” tender, and at the same time started a project to research and develop artificial intelligence technology.
  • Also in February, after working together since the middle of last year, the latest version of the mobile application called iCsekk, developed jointly with Díjbeszedő Informatikai Ltd. was handed over.
  • Fulfilling an order of more than EUR 400,000, OTT-ONE sold its self-developed online education platform, which offers the possibility of online distance learning, in Croatia in March 2020.
  • At the end of March, in a state of emergency caused by the coronavirus epidemic, the company signed contracts for the production and delivery of about 500 ventilators through its Chinese partners and signed a multi-billion forint agreement with the Ministry of Foreign Affairs and Trade. Subsequently, an agreement was also reached for the production and supply of protective masks.
  • At the beginning of April, OTT-ONE sold a software package worth of HUF 290 million consisting of corporate governance and security software to a customer in Hungary.
  • In the first half of 2020, several personnel changes took place in the management of OTT-ONE Plc .: in March, dr. Zsolt Nemeskéri and dr. Réka Szabó-Kovács were elected as a member of the Supervisory and the Audit Committee. In April dr. Péter Pozsgay became a member of the Board of Directors, and the Supervisory and Audit Committee was expanded with the person of Tibor Norbert Farkas. The latter, however, is doing work on the Company’s business collaborations in China, which is incompatible with the activities of the committee, and has therefore been removed from office in early May.
  • Also this month, a cooperation agreement was signed with the Budapest Stock Exchange’s educational subsidiary, the Budapest Institute of Banking Zrt. (BIB), on the use of OTT-ONE’s online education platform for remote students of the educational institution. Under the agreement, which runs until January 1, 2021, online participation in courses will also be possible for students who are unable to attend in person.
  • In April, the company signed a contract with the National Healthcare Service Center for the ordering of another 300 ventilators and 3 million medical masks, amounting to approximately HUF 7.7 billion.
  • In June, OTT-ONE sold a new, partly self-developed, complex video encryption software system worth HUF 510 million to its Hungarian partner.

Research of OTT-ONE shares launches as part of the BSE market development program

OTT-ONE Plc. has joined the market development program offered by the Budapest Stock Exchange, within the framework of which MKB Bank Plc. will prepare research of the company shares regularly. The aim of the independent research done under the program is to strengthen investor confidence and to increase trading activity for shares with small and medium capitalization. In the wake of joining the program, OTT-ONE will also prepare quarterly reports in addition to the semi-annual reports.

OTT-ONE Plc., listed in the Standard category of the stock exchange has officially joined the market development program offered by the BSE, which now includes 15 issuers. MKB Bank will be the exclusive stock analyst of OTT-ONE, and it will regularly publish research on the company’s securities within the framework of the program. Furthermore, the program includes an increase in the frequency of reports prepared by the company: in addition to the semi-annual reports, quarterly reports will also be published by OTT-ONE.

The investment provider has recently published its initiation report on OTT-ONE, which compared to the current exchange rate, set a higher target price of HUF 296, with a 75% of revaluation potential. Balázs Rácz, capital markets analyst at MKB Bank, emphasized in the report that the company’s activities are based on the innovative IT solutions that provide high added value, and can serve as a suitable basis for further dynamic growth. The capital markets analyst added that as a result of the long-term cooperation agreements, OTT-ONE can further increase the proportion of recurring, regular sources of revenue.

In the first year of the program, launched in 2017 by BSE, the turnover of the securities of the participating companies increased by 19 percent in total compared to the same period of the previous year, in contrast to the expansion of the total market which was 2.4 percent for the same period. Last year, the BSE expanded the list of companies that could be researched in the program with shares of new issuers, including the shares of OTT-ONE: the stock exchange selected issuers based on their size, free float and liquidity to the program, which aims to increase the supply of information and to support the share turnover and liquidity.

The research may further strengthen the company’s presence on the capital market as well as strengthen investor confidence. Joining the program will also help make OTT-ONE even more visible to institutional investors.

The initiation report on OTT-ONE Plc. and the latest research will be available on the website of Budapest Stock Exchange and on the investor page of the OTT-ONE website in the future.

Two solutions of OTT-ONE are included among the most interesting Hungarian innovations

The 2020 edition of “100 Hungarian Inventions and Developments” has been published, which presents the Hungarian innovations, inventions and developments of the recent period. The publication also includes two solutions developed in a partnership between OTT-ONE Plc. and iSRV Zrt., the OnlineLearningPlatform (OLP) online education framework and the Encrypted SSD, which provides military-level encryption.

The OnlineLearningPlatform (OLP) is a streaming-based educational framework that combines the features of digital training systems and various online communication platforms. The system can also be used for general e-learning purposes, so it provides distance learning in primary, secondary or higher education, and can also be used by private schools and language schools. In addition, the system enables the digitization of special coaching activities, and can also be used in the field of corporate training.

The system is also able to support telemedicine-type solutions, online doctor-patient or doctor-doctor professional consultations, second-hand opinions, and even remote diagnosis in an innovative way. OLP, in support of the HR field, even solves the knowledge-based pre-screening of the recruitment and selection process, supported by professional and competency tests in a simple, traceable and retrievable way at any time.

The Encrypted SSD product line, currently under development, covers external SSD-based storage devices with hardware encryption that meets unique government and military requirements. OTT-ONE Plc. and iSRV Zrt. provided the self-developed control electronics with external intrusion protection solutions, which automatically destroy their encryption keys in the event of external intervention or attack, thus ensuring the protection of the stored data. Access to device data requires high-security biometric identification, which can be accomplished using an existing biometric module in the user’s phone.

OTT-ONE is looking for specialists in medical equipment maintenance!

OTT-ONE Plc. is looking for engineers and technicians for the regular maintenance and the official technical service provision of hundreds of SH 300 quality ventilators and their related accessories recently distributed by the company, for the long term.

The ideal candidates are professionals with significant experience in the installation and maintenance of medical equipment. The work would primarily take place in Hungary and may also include the provision of planned services in the surrounding countries.

You can apply for the position at info@ott-one.hu!

The Chengdu subsidiary of one of China’s largest telecommunications companies has also joined the Hits4Export cluster co-founded by OTT-ONE

The Chengdu subsidiary of China Unicom has joined the Hungarian IT Solutions for Export (Hits4Export) cluster, established last autumn with the aim of making the international expansion of Hungarian companies with innovative information technology products and services more efficient. The formation of the IT export support cluster was initiated last November by OTT-ONE’s strategic partner, iSRV Zrt., while OTT-ONE itself joined the cluster as a co-founder.

The Hits4Export cluster, founded last November, has reached an important milestone: the list of members has been expanded with the Chengdu subsidiary of China Unicom, one of the largest telecommunications companies in China. The common goal of the domestic and international members participating in the cluster is to develop innovative solutions that can be widely used in Hungary and the region, including the utilization of 5G technology (such as electronic distance learning systems), the defense against the coronavirus epidemic, and the pursuit of Smart City.

OTT-ONE donates thousands of protective masks to Hungarian medical universities

In view of the extraordinary epidemic situation, OTT-ONE Plc. donated thousands of protective masks to, among others, the four medical universities of Hungary. With the respiratory protective masks ordered from its own resources, OTT-ONE intends to contribute to the protection against coronavirus during the pandemic. 

OTT-ONE has recently donated thousands of high-quality, European-certified protective masks to Hungarian medical universities, such as Semmelweis University in Budapest, the University of Debrecen, the University of Szeged, the University of Pécs, as well as the Bács-Kiskun County Municipality.

Moreover, the listed company has handed over hundreds of protective masks not only to the above-mentioned organizations, but also to employees and partners of the company in recent days.

OTT-ONE is one of the few companies that has a Chinese license to obtain the necessary equipment in China and to import those to Hungary. The aim of the company is to take part in the fight against the epidemic as much as possible and to support the institutions that work every day to stop the spread of the virus.

OTT-ONE is constantly working to contribute to the care and prevention processes with its network of contacts and a broad portfolio of services during the pandemic. In addition to protective masks, the company has recently committed to procuring hundreds of ventilators and related accessories, such as drug dispensers, monitoring equipment and breathing circuits, from China to serve orders from the Ministry of Foreign Affairs and Trade and the National Healthcare Services Center.

Handing over protective masks to the University of Pécs (left to right): dr. Zsolt Nemeskéri, President of the Supervisory and Audit Committee of OTT-ONE, Bálint Májer, CEO of OTT-ONE, dr. Erika Rauth, Chief Physician of the Hospital Hygiene Service of the PTE Clinical Center, dr. Andor Sebestyén, President of the PTE Clinical Center

Instead of shaking hands, Bálint Májer, CEO of OTT-ONE, greeted the Vice-Rector of Semmelweis University, dr. Attila Szabó with an elbow bump

Handover of masks in Debrecen to Mária Gál, Vice President of Nursing and Professional Development of the University of Debrecen

Bálint Májer, CEO of OTT-ONE, personally delivered the protective masks to Szeged

Tibor Farkas (left), Member of Supervisory and Audit Committee of OTT-ONE, handed over protective masks to László Rideg, President of the Bács-Kiskun County Assembly

The respiratory masks ordered from the company’s own resources

OTT-ONE to order hundreds of new ventilators and millions of masks from China

OTT-ONE has signed a contract for the China-based production and delivery to Hungary of hundreds of ventilators and millions of masks used for the protection against coronavirus. The total value of the order placed by the National Healthcare Services Center (ÁEEK) is HUF 7.7 billion, of which professional ventilators, related accessories and protective masks with European certification will be provided by the listed company. The devices will be ready by 31 May at the latest. The customer pays the purchase price in full in advance.

OTT-ONE has entered into another high-value business agreement to meet the needs arising from the coronavirus (COVID-19) epidemic. This time, the listed company, which focuses on innovative information technology solutions, will acquire hundreds of ventilators and related accessories (including drug dispensers, monitoring equipment and breathing circuits), and millions of masks on behalf of the National Healthcare Services Center (ÁEEK) with a total value of HUF 7.7 billion. The Chinese partner of OTT-ONE will manufacture devices for the control of the coronavirus epidemic by 31 May at the latest. ÁEEK pays the purchase price in full in advance, immediately after the signing of the agreement.

Known primarily for its video streaming, security and online education solutions, OTT-ONE has already reported on developments in the fight against the coronavirus epidemic in recent weeks. On 26 March, the Ministry of Foreign Affairs and Trade ordered 500 ventilators worth HUF 4.7 billion, and Duna Aszfalt Kft. purchased 100,000 masks on 27 March through the company’s international relations for HUF 130 million. By 2 April, OTT-ONE and its Chinese partner were among the first to successfully complete the Chinese General Administration of Customs’ reviews of the manufacture and export of medical devices, based on significantly tightened export requirements, creating additional business opportunities for the company.

Both the ventilators ordered by OTT-ONE in March and the most recently purchased ventilators fully comply with the strict quality requirements enacted by the People’s Republic of China on 1 April 2020. The masks ordered from China are also high-quality equipments with European certification.

Over the past year, OTT-ONE has placed great emphasis on building business relationships with China, which it can successfully capitalize on and build on in the current epidemic situation. The company is constantly working to receive and fulfill additional orders based on good relations and experience, which represent a major value for both Hungarian healthcare and shareholders.