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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.€145.2m
Last close€11.16
High / Low (52 weeks)€13.5 / €9.2
Stock market listingMI
Forecast net cash (€m)76.8
Forecast gearing ratio (%)N/A
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual(2.6)3.3(8.1)
Relative *2.75.9(12.2)

* % Relative to local index

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Company news

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (c) P/E (x) P/CF (x)
2016A 33.1 4.3 4.0 27.113 41.2 12.2
2017A 35.9 3.5 3.0 18.589 60.0 1097.2
2018E 39.1 4.1 3.0 18.504 60.3 31.4
2019E 41.9 4.6 3.5 21.555 51.8 31.2

Last updated on 16/05/2018

Investment summary

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.

Last updated on 16/05/2018

Industry outlook

TXT Next is a beneficiary of the trend to outsource elements of IT and engineering, 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 27/04/2018

Key management

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

Company address

Via Frigia, 27
20126 Milano
Italy
+39 02 257711
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