OTT-ONE revenue climbs 68% in 2019

Telco

Photo: Facebook

Revenue of IT company OTT-ONE rose 68% to HUF 2.86 billion last year, state news wire MTI reports, citing a P&L statement posted on the website of the Budapest Stock Exchange ahead of an annual general meeting.

Image: Facebook

Material costs jumped 79% to HUF 2.36 bln, causing net income to fall 5% to HUF 205 million.

In a separate statement, OTT-ONE said it will plow profits back into the business.

OTT-ONE noted that it signed its biggest contract ever in 2019, valued at nearly HUF 2 bln.

CEO Bálint Májer said OTT-ONE plans to grow its business and is looking for suitable resources to finance that expansion.

Scope Assigns MOL BBB- Issuer Rating Ratings

Scope Assigns MOL BBB- Issuer Rating

Budapest Residents to Weigh in on Rákosrendező Development P... Issues

Budapest Residents to Weigh in on Rákosrendező Development P...

AutoWallis Becomes Importer of Geely Group’s Commercial EV B... Automotive

AutoWallis Becomes Importer of Geely Group’s Commercial EV B...

These Are the Most Sleep-friendly Hotels in Hungary Hotels

These Are the Most Sleep-friendly Hotels in Hungary

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.