Txt E-solutions S.p.a. · MIL:TXT
Txt E-solutions — STAR Conference London October 2015
26 slides from Txt E-solutions's conference presentation, September 2015
Slide 1: TXT e-Solutions Corporate Overview
TXT e-Solutions Corporate Overview September 2015
Slide 2: FY 2014 & H1 2015 Results
FY 2014 & H1 2015 Results FY 2014 (Actual) H1 2015 Revenues: 55.9 m€ (+6.3%) 31.1 m€ (+13.2%) EBIT 5.5 m€ (+10%) 2.8 m€ (+22.8%) Free Cash Flow 9.3% of Rev. 10.2% of Rev. NFP: 8.5 m€ 9.5 m€ 5 years CAGR +11% p.a. 5 years CAGR +25% p.a. 2
Slide 3: 2010–2015: Growing EBITDA Margin & Rising the bar of Investments
2010 – 2015: Growing EBITDA Margin & Rising the bar of Investments 40.3% 40.4% 40.1% 39.5% 37.8% 33.7% R&D Investments: strengthen leadership: - 2010: 2.5 m€ - 2014: 4.7 m€ Commercial Investments: foster Int’l growth: - 2010: 7.4 m€ - 2014: 11.1 m€ 3
Slide 4: TXT Group: Major Growth Opportunities & Emerging Opportunities
TXT Group: Major Growth Opportunities & Emerging Opportunities 40% +13.0% vs. H1 2014 60% +13.4% vs. H1 2014 International Software Vendor Advanced System Integration Major Growth & Profit Opportunity, through Mature Business, Int’l growth possible direct investments & acquisitions: Retail through a
Slide 5: TXT Retail – Major Growth & Profit opportunity for TXT Group
TXT Retail – Major Growth & Profit opportunity for TXT Group Strategy - Global leader in: Services Software Retail Planning solutions for Fashion, Luxury & Specialty 56% 44% Retailers: end-to-end, from collection to stores Hong-Kong Singapore Spain APAC 2% North Am. Italy 2% 13% 13% Other Int'l Germ
Slide 6: Unique, Growing Customer Base of 300+ Luxury Global Brands
Expertise across categories & channels: Unique, Growing Customer Base of 300+ - 15 New Major Customers in last 12 months; 50+ Go-Lives of Major Projects … - … across all Segments & Geographies Luxury Global Brands Fast Fashion Mixed Goods Luxury Global Brands Fast Fashion Mixed Goods 6
Slide 7: Omnichannel End-to-End Planning, Collection Development & Collaboration
Omnichannel End-to-End Planning, Collection Development & Collaboration Supply Chain In-Season Planning: Visibility & Collaboration Allocation, Forecasting & Replenishment Pre-Season Planning: Merchandise & Assortment Product Lifecycle Management: from Collections to Buying Sessions Omni-Channel: St
Slide 8: Omnichannel End-to-End Planning, Collection Development & Collaboration
Omnichannel End-to-End Planning, Collection Development & Collaboration PLM Sales & Buy Planning Assortment & Purchasing In-Season Planning Trend Research & Assortment Strategy / Category and Item Strategic Plan Design Range Plan OTB Assortment Store Replenishment Line Planning Merchandise Plan Plan
Slide 9: TXT Retail - Competitive Position: Leadership in the Target Markets
TXT Retail - Competitive Position: Leadership in the Target Markets Recognised Leader in Fashion, Luxury & Specialty Retail Gartner Assessment across ALL types of merchandise 9
Slide 10: AgileFit: from SW Product to Business Best Practices Ready to Go
AgileFit: from SW Product to Business Best Practices Ready to Go Mitigate Project Risk Reduce Project Costs Faster Time to Benefits Higher ROI 10
Slide 11: Commitment to Innovate: Product & Business Innovation
Committment to Innovate: 4,7 m€ invested in Product & Business Innovation • Mobility: PLM & Planning on any device, • Scalability & Performance with In-memory anywhere Technology • Total Cost of ownership: TXT On-Cloud • Assortments based on Consumer Analytics 11
Slide 12: TXT Retail Growth Strategy: Expand Geography
TXT Retail 2015 & Beyond - Growth Strategy & Drivers: Expand Geography Baseline organic growth, accelerated through targeted acquisitions, sustained by continuous investments in product & business process innovation, self-financed through Profit & Cash generated by the business & growing Stock value
Slide 13: TXT Retail Growth Strategy: Add Market Segments
TXT Retail 2015 & Beyond - Growth Strategy & Drivers: Add Market Segments Baseline organic growth, accelerated through targeted acquisitions, sustained by continuous investments in product & business process innovation, self-financed through Profit & Cash generated by the business & growing Stock va
Slide 14: TXT Retail Growth Strategy: Add Products & Services
TXT Retail 2015 & Beyond - Growth Strategy & Drivers: Add Products & Services Baseline organic growth, accelerated through targeted acquisitions, sustained by continuous investments in product & business process innovation, self-financed through Profit & Cash generated by the business & growing Stoc
Slide 15: CPG & Manufacturing: Setting the Stage for Future Profitable Growth
CPG & Manufacturing: Setting the Stage for Future Profitable Growth • Approx. 7 m€ in 2014; • Value Proposition: Demand Planning • ~100 Key References across Europe – Sales & Operations Planning Advanced – Supply Chain Supply Procurement & Planning Collaboration Supply Chain Collaboration Production
Slide 16: TXTNext - Aerospace & High Tech: The Engineering Division of TXT Group
TXTNext - Aerospace & High Tech: The “Engineering Division” of TXT Group In-depth Industry Know-how: Since 30 years Partner for our clients to boost their engineering capabilities « Inside!» THROUGHOUT THE ENTIRE VALUE CHAIN AUTOMOTIVE & AEROSPACE HIGH TECH TRANSPORTATION TRAINING & EMBEDDED DIGITAL
Slide 17: TXT Next – Aerospace & High-Tech: Strategy & Drivers
TXT Next – Aerospace & High-Tech: Strategy & Drivers Healthy & profitable growth around the «as-is» perimeter, building on a baseline revenues stream from long-lasting relationships with core clients, and targeting International opportunities, both organically & through Acquisitions. Geographical 20
Slide 18: TXTNext - Banking & Finance: Setting the Stage for Future Profitable Growth
TXTNext - Banking & Finance: Setting the Stage for Future Profitable Growth • Approx. 6 m€ in 2014; market focus: Italy • Core Offering: Italian leadership in • A growing customer base of mid-large Banks – Independent Testing of Software: from functional & performance testing to mobile • Long-lastin
Slide 19: TXT in 2014, 2015 & beyond
TXT in 2014, 2015 & beyond … • TXT Retail – A dynamic, large & growing Global Market, a sustainable leadership position (Products, Team & Customer Base), multiple drivers of growth – 2014: further consolidated Europe, significantly strengthened North America (Brand recognition, Team & Customer Base)
Slide 20: Appendix – Financial Details
APPENDIX – FINANCIAL DETAILS
Slide 21: H1 2015 Financial highlights
H1 2015 Financial highlights Revenues: € 31.1 million (+ 13.2% compared to normalized H1 2014) TXT Perform grew +13.0%; TXT Next +13.4%, Software revenues +36.6%: Service revenues +6.4%. 56% of revenues from outside Italy. EBITDA: € 3.4 million (+13.7% compared to normalized H1 2014). R&
Slide 22: H1 2015 – Growth of Revenues and R&D Investments
H1 2015 – Growth of Revenues and R&D Investments 2014 non- I SEM. 2014 Var % vs Var % vs 2014 € thousand I SEM. 2015 % I SEM. 2014 (1) % recurring "Norm alized"(2) 2014 "Norm alized" REVENUES 31.126 100,0 28.972 (1.468) 27.504 100,0 7,4 13,2 Direct costs 14.878 47,8 13.464 (407) 13.057 47,5 10,5 13,
Slide 23: Strong Balance Structure
Strong Balance Structure € thousand 30.6.2015 31.12.2014 Var Intangible assets 15.414 15.079 335 Tangible assets 1.377 1.249 128 Other fixed assets 1.766 1.692 74 Fixed Assets 18.557 18.020 537 Inventories 2.461 1.821 640 Trade receivables 21.008 18.571 2.437 Other short term assets 2.265 2.197 68 T
Slide 24: Dividends & Shareholder's Return in the last 4 Years
Dividends & Shareholder‘s Return in the last 4 Years •Share Price • Dividends •31.12.2010: 1.51€/share (rebased •2011: 1 € /share (extraordinary, for free share distribution) rebased) •17.9.2015: 7.64€ /share •2012: Free Share Distribution 1:1 •2013: 0.20 € /share (rebased) •2014: Free Share Distrib
Slide 25: TXT Market Capitalization (m€)
TXT Market Capitalization (m€) Free share distribution 1:10 Free share distribution 1:1 Free share distribution 1:1 Dividend 2.6m€ Dividend 2.6m€ Dividend 2.1m€ Dividend 10.3m€ 25
Slide 26: Shareholding Structure – April 2015
Shareholding Structure – April 2015 Management A. Braga Illa 8,1% 13,8% Market E-Business Consulting 43,1% 25,6% Treasury Shares 9,4% 26
TXT e-Solutions — STAR Conference London October 2015 on 6ix