Tinexta Spa · MIL:TNXT
Tinexta Spa — Q1 2025 Earnings Presentation
26 slides from Tinexta Spa's earnings presentation, May 16, 2025
Slide 1: Q1 2025 Results Presentation
Q1 2025 Results Presentation Ended March 31, 2025 Milan – May 16, 2025
Slide 2: Disclaimer
Disclaimer This company presentation includes: - forward-looking data based on internal management assumptions that are subject to material changes, including changes due to external factors beyond the Group's control - management data, when presented, are identified as such Business Unit data are d
Slide 3: Agenda
Agenda Highlights & Updates J. Mastragostino | Chief Investor Relations Officer 01 Financial Results 02 O. Pozzi | Group Chief Financial Officer Business Units Deep Dive 03 O. Pozzi | Group Chief Financial Officer Closing Remarks 04 J. Mastragostino | Chief Investor Relations Officer
Slide 4: Highlights & Updates
01 Highlights & Updates J. Mastragostino | Chief Investor Relations Officer
Slide 5: Key Group Financial Data
Highlights & Updates Key Group Financial Data at 31/03/2025 REVENUES EBITDA ADJ. EBITDA € 116M € 19M € 17M + 17% vs PY + 24% vs PY NET PROFIT ADJ. NFP FCF ADJ. € 4M € 291M € 34M vs € 322M in FY’24 + 24% vs PY 5
Slide 6: 1Q 2025 – On track to meet FY targets
Highlights & Updates 1Q 2025 – On track to meet FY targets GROUP 1Q 2025 RESULTS • Revenues at € 115.5M (+ 17.4% vs PY), with all BUs contributing to 2025 Guidance achievement • EBITDA Adjusted at € 18.7M (+ 23.8% vs PY), tangible signs of rebound from the Cybersecurity and Business Innovation BUs (
Slide 7: From House of Brands to Branded House
Highlights & Updates From House of Brands to Branded House Final step of the “One Group, One Brand” integration process aimed at maximizing Tinexta’s identity perception and visibility of subsidiaries across key markets, strengthening corporate culture as well as promoting infra- Group synergies and
Slide 8: 1Q 2025 Consolidated Results
Highlights & Updates 1Q 2025 Consolidated Results 1 €M 1Q 2025 results show Revenues of € 115.2M and EBITDA Adjusted of € 18.7M, coming back to operating leverage Double-digit growth in Revenues (+ 17.0%) and EBITDA Adjusted (+ 23.8%) EBITDA Adjusted at € 18.7M 115.2 EBITDA Adjusted margin at 16.2%
Slide 9: EBITDA Adjusted on a quarterly basis – back-end weighted
Highlights & Updates EBITDA Adjusted on a quarterly basis – back-end weighted €M 69% 63% 54.8 2H weight on total EBITDA Adjusted 61% 46.1 40.0 22.6 22.9 21.6 19.0 19.3 18.7 17.7 14.5 15.0 15.1 Weight of each Q on 15% 24% 19% 42% 15% 22% 18% 45% 14% 17% 19% 50% 15%1 total EBITDA Adjusted 1Q 2022 2Q 2
Slide 10: Financial Results
02 Financial Results O. Pozzi | Group Chief Financial Officer
Slide 11: 1Q 2025 Results – Income Statement
Financial Results 1Q 2025 Results – Income Statement €M 1Q 2025 on WITH ACQUISITIONS LFL 2024 1Q’25 % 1Q’241 % % 20241 Δ Δ% Δ Δ% REVENUES2 115.2 100.0% 98.4 100.0% 104.8 100.0% 16.8 17.0% 6.3 6.4% Total Operating Costs2 (96.5) (83.8%) (83.3) (84.6%) (88.5) (84.4%) (13.2) 15.8% (5.1) 6.2% Services &
Slide 12: 1Q 2025 Results – A clear view on P&L Adjustments
Financial Results 1Q 2025 Results – A clear view on P&L Adjustments €M NET PROFIT/(LOSS) FROM EBITDA OPERATING PROFIT/(LOSS) CONTINUING OPERATIONS 1Q’25 1Q’241 1Q’25 1Q’241 1Q’25 1Q’241 REPORTED INCOME STATEMENT RESULTS 17.1 8.4 0.4 (4.9) (2.7) (3.1) Non-recurring revenues (0.3) 0.0 (0.3) 0.0 (0.3)
Slide 13: 1Q 2025 Results – Balance Sheet
Financial Results 1Q 2025 Results – Balance Sheet 1 €M - 3.8% - 9.6% + 0.2% 781.9 321.8 460.1 461.2 752.1 290.9 FY 2024 1Q 2025 FY 2024 1Q 2025 FY 2024 1Q 2025 NET INVESTED CAPITAL NET FINANCIAL POSITION TOTAL SHAREHOLDERS’ EQUITY Decrease in Net Invested Capital for € 29.8M vs FY 2024 Decrease in N
Slide 14: 1Q 2025 Results – NFP & FCF
Financial Results 1Q 2025 Results – NFP & FCF €M 33.6 1.0 27.2 5.9 Non-recurring components 32.6 Free Cash Flow of 321.8 Continuing Operations 21.4 290.9 2 FY 2024 1 1Q 2025 1Q 2024 1Q 2025 NET FINANCIAL POSITION ADJUSTED FCF FROM CONTINUING OPERATIONS Put Adjustment + € 6.2M CapEx remained stable a
Slide 15: 1Q 2025 Results – BU Review
DIGITAL TRUST Financial Results 1Q 2025 Results – BU Review 1 51.3 54.4 NM €M 15.8 15.8 GROUP 2 2 1Q 2024 1Q 2025 1Q 2024 1Q 2025 Revenues EBITDA Adjusted CYBERSECURITY 31.9 23.9 4.4 2.3 1Q 2024 2 1Q 2025 1Q 20242 1Q 2025 115.2 Margin Margin Revenues EBITDA Adjusted 98.4 15.4% 16.2% BUSINESS INNOVAT
Slide 16: 1Q 2025 Results – NFP Bridge
Financial Results 1Q 2025 Results – NFP Bridge 1 €M 321.8 3.1 2.4 1.3 0.6 0.0 0.0 0.1 0.4 1.0 290.9 (33.6) (6.2) Due to Ascertia’s results, the value of debt for the exercise of its Put Option has been redetermined with a reduction of € 6.8M 2.79x NFP/EBITDA2 2.54x (1) Comparative figures for FY’24
Slide 17: 1Q 2025 Results – LTM NFP Bridge
Financial Results 1Q 2025 Results – LTM NFP Bridge 1 €M 5.9 290.9 4.4 1.3 57.1 1.3 2.8 (2.3) Acquisitions LTM + 87.7 218.6 7.5 Put Adjustments LTM - 30.6 31.5 Total Acquisitions + Put Adj. + 57.1 11.1 (48.3) 2.32x NFP/EBITDA2 2.54x (1) Comparative figures for 1Q’24 have been restated in connection w
Slide 18: Business Units Deep Dive
03 Business Units Deep Dive O. Pozzi | Group Chief Financial Officer
Slide 19: 1Q 2025 – Digital Trust
Revenues EBITDA Adj. Guidance FY’25 + 7-9% + 7-9% Business Units Deep Dive Mostly on track Temporary delay due to 1Q 2025 – Digital Trust with guidance timing of contracts 1 Margin Margin €M 30.8% 29.1% 51.3 54.4 NM 15.8 15.8 1Q 2024 1Q 2025 1Q 2024 1Q 2025 Revenues EBITDA Adjusted • Revenues at € 5
Slide 20: 1Q 2025 – Cybersecurity
Revenues EBITDA Adj. Guidance FY’25 + > 20% + > 50% Business Units Deep Dive On track with On track with 1Q 2025 – Cybersecurity guidance guidance Margin Margin €M 9.7% 13.8% 31.9 8.7 23.9 23.2 4.4 1.7 2.3 2.7 1Q 2024 1Q 2025 1Q 2024 1Q 2025 Revenues EBITDA Adjusted LFL 2024 Δ Acquisitions • Revenue
Slide 21: 1Q 2025 – Business Innovation
Revenues EBITDA Adj. Guidance FY’25 + 10-12% + > 15% Business Units Deep Dive On track with On track with 1Q 2025 – Business Innovation guidance guidance Margin Margin €M 3.8% 9.3% 31.4 1.9 29.6 25.1 2.9 0.7 1.0 2.2 1Q 2024 1Q 2025 1Q 2024 1Q 2025 Ricavi EBITDA Adjusted LFL 2024 Δ Acquisitions • Rev
Slide 22: Closing Remarks
04 Closing Remarks J. Mastragostino | Chief Investor Relations Officer
Slide 23: Guidance – Group FY 2025 Targets
Closing Remarks Guidance – Group FY 2025 Targets REVENUES KEY PERFORMANCE DRIVERS + 11-13% of which 7-9% organic Strong underlying business driving reasonable and healthy organic growth, demand supported by the digital transformation trend vs PY Regulatory tailwinds at a national and EU level (NIS2,
Slide 24: Closing Remarks
Closing Remarks Closing Remarks Recovery of operational efficiency at a Group level with strong contribution driven by Cybersecurity as well as BI’s rebound Decrease in Net Financial Debt driven by strong cash generation, favorable NWC dynamics, and positive Put/Call Adjustments Regulatory tailwinds
Slide 25: tinexta
tinexta
Slide 26: Thanks.
Thanks. www.tinexta.com Investor Relations Contacts Presentation Piazzale Flaminio 1/B E-mail: info@tinexta.com Josef Mastragostino Download the presentation Roma, 00196, Italy tinexta@legalmail.it Chief Investor Relations Officer Tel. +39.06.42012631 LinkedIn: Tinexta investor@tinexta.com