Edison Investment Research - Txt (TXT) TXT e-solutions - Profitable growth

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Edison Investment Research

Richard Williamson

TXT e-solutions - Profitable growth

TXT e-solutions’ focus on long-term customer collaboration combined with recent fintech acquisitions has helped the company report revenue and profit growth over the first nine months of FY20 (9M20) despite pressure from COVID-19 restrictions. The company is focused on extending its product offering and broadening its market exposure, with the recent acquisition of HSPI adding consulting services and public sector customers to the Fintech division. We have revised our forecasts to reflect the acquisition and Q3 results, with normalised EPS upgrades of 3.9% in FY20e and 19.3% in FY21e.

10/11/2020 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 - Profitable 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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