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Wednesday 28 September 2022
HomeNewsTunisia: OneTech reports increase in short-term debt

Tunisia: OneTech reports increase in short-term debt

The overall indebtedness of Moncef Sallami’s OneTech group, is increasing compared to its level at the end of the year 2021, rising from 154.4 MTND to 171.1 MTND, with a more important short component allowing to perfect the financing of the increase of the working capital needs of the different subsidiaries of the group.

The turnover of the cable division in the first half of 2022 amounted to 261.2 MTND, increasing by 27.5% compared to the first half of 2021, this variation comes mainly from the export which went up by 37.5%.

The turnover of the mechatronics cluster amounted in the first half of 2022 to 237.8 million dinars, up 8.5% compared to the first half of last year, despite the shortage of semiconductors and logistical difficulties that still affect this sector, according to a financial statement from the company.

The statement explains that “the problems of shortage of raw materials and disruptions in logistics still persist, however in significant mitigation compared to the beginning of the year, and increases in the cost of raw materials on the first half are being gradually impacted at the level of sales prices.

“All of these disruptions have had some impact on margins and on the change in working capital requirements. That said, we are currently witnessing a stabilization of raw material prices, or even a decrease compared to their level at the beginning of the year,” it noted.

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