TXT e-solutions (TXT)

Business description

TXT e-solutions operates through TXT Next, which provides IT, consulting and R&D services to aerospace, aviation, banking and finance customers.

Stock data

Market cap.€140.5m
Last close€10.80
High / Low (52 weeks)€13.0 / €9.2
Stock market listingMI
Forecast net cash (€m)76.5
Forecast gearing ratio (%)N/A

Price performance

Relative *5.59.6(1.5)

* % Relative to local index

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Company news

Finish Line Deploys Merchandise Planning Solution from TXT Retail, an Aptos ...

Wed, 21 Feb 2018 14:03:50 GMT

TXT Retail, an Aptos Company, Named a Leader in Retail Planning Solutions

Wed, 11 Oct 2017 13:06:56 GMT

TXT e-solutions SpA (TXT) Soared 0.91% on Mar 13

Tue, 13 Mar 2018 10:07:30 GMT

TXT e-solutions SpA (TXT) Is Yet to See Trading Action on Feb 18

Mon, 22 Jan 2018 14:37:30 GMT

TXT e-solutions SpA (TXT) Rise 0.37% on Mar 17

Sat, 17 Mar 2018 10:52:30 GMT

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (fd) (c) P/E (x) P/CF (x)
2016A 33.1 4.3 4.0 27.0 40.0 11.8
2017A 35.9 3.5 3.0 19.0 56.8 1061.8
2018E 39.2 3.8 2.7 17.0 63.5 33.1
2019E 42.1 4.8 3.7 23.0 47.0 29.1

Last updated on 14/03/2018

Investment summary

TXT’s FY17 results confirmed that the remaining TXT Next business is showing solid growth. Profitability has been supressed by efforts to widen the customer base as well as the effect of spreading central costs over a smaller revenue base, but we expect margins to improve as the business grows revenues in FY18 and FY19. The company has confirmed a €1 per share dividend for FY17, leaving the majority of TXT Retail disposal proceeds within the business to invest in accretive acquisitions.

Last updated on 14/03/2018

Industry outlook

TXT Next is a beneficiary of the trend to outsource IT, which gives the customer greater flexibility on cost and better access to specialist skills. Its main focus is on the aerospace and aviation market, where the rapid pace of innovation, combined with increasing regulation, drives growth in R&D. It also serves the Italian banking market, where the emergence of fintech companies is driving innovation, and regulation is increasing the need for software quality assurance.

Last updated on 02/03/2018

Key management

Alvise Braga Illa, Chairman
Marco Guida, CEO
Paolo Matarazzo , CFO

Company address

Via Frigia, 27
20126 Milano
+39 02 257711
View website