Report
Richard Williamson

TIE Kinetix - Preparing for accelerating growth

TIE Kinetix’s H122 results showed that as it transitions to a 100% software as a service (SaaS) business model, the company is incurring costs this year to significantly accelerate growth in SaaS revenues from next year. After a net loss this year, we expect the company to quickly return to profit in FY23 with the EBITDA margin further increasing to 20% in FY25. TIE Kinetix is focused on 100% digitalisation of document streams in the supply chain and will therefore benefit from the expected high growth in the market for e-invoicing.
Underlying
Tie Kinetix

TIE Kinetix NV. TIE Kinetix NV (TIE or Total Integrated E-commerce) is a Netherlands-based business-to-business (B2B) integration software company. The Company provides its customers with solutions for business interoperability and the power to connect applications and processes with those of their external trading partners. TIE designs, develops, markets and supports a portfolio of software products that enables companies to eliminate unproductive activities throughout their supply chain. The Company operates mainly in one business segment (Totally Integrated E-commerce) and operates in different countries through subsidiaries. As of September 30, 2011, the Company had seven wholly owned subsidiaries: TIE Product Development NV, TIE International BV, TIE MamboFive BV, Gordian Investments BV, TIE Commerce Inc, TIE France SAS, TIE Asia-Pacific Ltd and Sinfox BV, as well as had offices located in the Netherlands, the United States, France and Australia.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts
Richard Williamson

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