Edison Investment Research - Txt (TXT) TXT e-solutions - Strong Q1 drives upgrades

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Edison Investment Research

Richard Williamson

TXT e-solutions - Strong Q1 drives upgrades

TXT e-solutions reported strong revenue and profit growth in Q121, reflecting the benefit of recent acquisitions and good cost control. Since the end of Q1, the company has signed promising contracts in both divisions, including the first contract for TXT Working Capital Solutions. We have revised our forecasts to reflect this performance, resulting in upgrades to our normalised EPS forecasts of 5.5% in FY21 and 6.9% in FY22. With net cash of €10.8m and treasury shares worth at least €9m, management indicated it is considering further M&A while continuing to drive organic growth.

18/05/2021 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 - Strong Q1 drives upgrades

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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