Edison Investment Research - Txt (TXT) TXT e-solutions - Well funded for growth

Report

Edison Investment Research

Katherine Thompson

TXT e-solutions - Well funded for growth

TXT has reported its first set of results showing TXT Next as a standalone business. We have revised our forecasts to reflect the new structure of the group. The group is now focused on growing the TXT Next business organically and through targeted acquisitions of niche software solution and specialised engineering service providers in the aerospace and aviation market. Of the €85m proceeds from selling TXT Retail, we expect the company to retain funds for acquisition as well as paying a special dividend next year.

17/11/2017 12 EN

Underlying

Txt

TXT e-solutions SpA is an Italy-based company engaged in the information and communication technologies (ICT) market. It provides software and services-based solutions to enterprises. The Company structures its business into two main segments: TXT Perform and TXT Next. In the TXT Perform segment, it designs and develops software and IT solutions for fashion and luxury, specialty retail, consumer packaged goods (CPG) and discrete manufacturing sector. Through the TXT Next segment, the Company offers system integration and IT services to such sector as aerospace and defense, high-tech manufacturing, and banking and finance. It operates through subsidiaries: TXT e-solutions Ltd, the United Kingdom; TXT e-solutions GmbH, Germany; TXT e-solutions SL, Spain; TXT e-solutions Sarl, France; Maple Lake Ltd, Canada and Maple Lake Australia Pty Ltd, Australia amd PACE Aerospace Engineering and Information Technology GmbH.

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IT0001454435 Italy

Provider

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

Katherine Thompson

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TXT e-solutions - Well funded for growth

TXT e-solutions S.p.A: 1 director

TXT e-solutions - Termination of coverage

TXT e-solutions - Termination of coverage

Topps Tiles - Accelerating growth through Q125

Baillie Gifford US Growth Trust - A unique high-growth strategy meriting support

Greggs - More challenging environment in H224

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