Edison Investment Research - Txt (TXT) TXT e-solutions - Growing on all fronts

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Edison Investment Research

Richard Williamson

TXT e-solutions - Growing on all fronts

TXT e-solutions reported a strong performance in Q319, with double-digit organic revenue growth in both divisions boosted by the contribution from Assioma and TXT Risk. For 9M19, normalised operating profits doubled year-on-year with margin expansion of 230bp. We have raised our FY19 and FY20 EPS forecasts to reflect Q3 performance. Recent fintech acquisitions have been integrated and are helping to accelerate the growth and profitability of the Banking & Finance division. With a significant amount of cash remaining on the balance sheet, we expect the company to make further targeted acquisitions.

18/11/2019 6 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

Richard Williamson

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TXT e-solutions - Growing on all fronts

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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