Edison Investment Research - TXT e-solutions (TXT) Outlook: International wins drive growth

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Edison Investment Research

Outlook: International wins drive growth

TXT experienced strong growth in H115, with both divisions reporting y-o-y
growth of 13%. The international expansion strategy is paying off â€“ both
TXT Perform and TXT Next won new customers in target overseas markets
during H1. To reflect the stronger first half, we have raised our revenue and
earnings estimates in FY15 and FY16. The company continues to seek
acquisitions to accelerate growth in both divisions and has a strong
balance sheet to support its growth strategy.

10/08/2015 12 EN

Underlying

TXT e-solutions

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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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Other Reports on these Companies

Edison Investment Research

TXT e-solutions - On the acquisition trail

TXT reported year-on-year revenue and EBITDA growth in Q118, with a particular boost to software licence sales. The change in the largest shareholder has prompted changes to the board, and is likely to mark the start of a series of acquisitions to accelerate the growth of the TXT Next business.

May 16, 2018 May 16, 2018 5 EN

Edison Investment Research

Update: Profits maintained despite licensing weakness

TXT reported a small year-on-year revenue decline for Q116. While TXT Next showed continued growth, TXT Perform saw delays in the signing of new licences, resulting in a decline in revenues. This was offset by reduced operating expenses. Management sees a more positive outlook in Q2 and maintains expectations for FY16. We leave our forecasts substantially unchanged.

May 18, 2016 May 18, 2016 3 EN

Edison Investment Research

Update: TXT Next is next for international expansion

TXT reported strong FY15 revenue growth of 13%, with double-digit growth from both divisions, and normalised EPS ahead of our forecast. The planned acquisition of PACE adds higher-margin aerospace software capability and accelerates TXT Nextâ€™s quest to expand its addressable market outside of Italy. We have incorporated PACE into our estimates, forecasting normalised EPS growth of 16% in FY16 and 9% in FY17.

March 11, 2016 March 11, 2016 6 EN

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Outlook: International wins drive growth

TXT e-solutions - On the acquisition trail

Update: Profits maintained despite licensing weakness

Update: TXT Next is next for international expansion

Manx Financial Group - Termination of coverage

musicMagpie - Termination of coverage

Topps Tiles - Accelerating growth through Q125

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