Txt E-solutions S.p.a. · MIL:TXT
Txt E-solutions — TXT Group — Q1 2024 Earnings Presentation
15 slides from Txt E-solutions's earnings presentation, May 16, 2024
Slide 1: TXT Group: Q1 2024 Results
TXT Group: Q1 2024 Results Call with Investors May 16 | 11 a.m. (CEST) Daniele MISANI, CEO Andrea FAVINI, IR
Slide 2: Q1-2024 results show strong organic growth and sustainable margins
2 Q1-2024 results show strong business organic growth and sustainable margins, boosted by synergies and operational efficiency Revenues Solid Organic EBITDA Growth in Q1-24 €67 Mn (consolidated) +28.3% +21.3% €8.8 Mn vs. Q1-2023 +€11 Mn Equal to 13.0% of revenues
Slide 3: KPIs: Q1-2024 by Offering
3 KPIs reported in Q1-2024 show continuity in the accelerated growth plan of TXT based on the mix of organic _KPIs: Q1-2024 by Offering growth of business, M&A contribution and synergies that are expected to generate additional growth and benefits during the year: EBITDA margin target for FY 2024 se
Slide 4: Value creation: Q1-24
4 _Value creation: Q1-24 R&D INVESTMENTS (fully expenses in the period) € 3.3Mn Q1-24, +51% vs. Q1-23 SMART SOLUTIONS REVENUES € 12.5Mn Q1-24, +34% vs. Q1-23 INTERNATIONAL REVENUES € 18.1Mn 27% of total revenues SUSTAINABLE DEBT (Adjusted) + TREASURY SHARES FOR FINANCING GROWTH € 28Mn (Net Debt) - €
Slide 5: Core Markets & Incidence
Core Markets & Incidence 5 We are expanding across different markets, with a growing footprint in Aerospace, Aviation, Defense, Industrial, Automotive, Telco, Government and Fintech, by leveraging more than 2000 experts, competence centers in AI, cybersecurity, XR, IoT. 27% Aerospace & Defense 8% In
Slide 6: Business Evolution & Subsequent Events
6 _Business Evolution & Subsequent Events
Slide 7: Digital Advisory recorded excellent organic growth (+49% vs. Q1-2023)
Digital Advisory recorded 77 excellent organic growth (+49% vs. Q1-2023) • The significant growth in the Digital Advisory division has been mainly driven by the ramp-up of business activities on main contracts with public administrations acquired in 2022 and 2023, including activities acquired in th
Slide 8: Growth Pillars in Aerospace & Defence (+41% vs. Q1-2023)
8 Growth Pillars in Aerospace & Defence (+41% vs. Q1-2023): • Smart Solutions Offering (+73% vs. Q1-2023), of which: • Organic business growth (+39% vs. Q1-2023) is driven by new contracts with US customers, both airlines for the FPO application, and OEMs and 1st Tier Supplier for the provision of a
Slide 9: Main Business Updates
9 Main Business Updates: • The TXT proprietary platform for AML, Faraday, reported Q1-2024 ARR that are more than doubled if compared to Q1-2023, with strong benefits on profitability (EBITDA) that reached the target percentage value at more than 20%. New deal signed for an important subscription-ba
Slide 10: Q1-2024 Financials
10 Q1-2024 FINANCIALS
Slide 11: Q1-2024 details: Profit & loss
11 € thousand Q1 2024 % Q1 2023 % Var % REVENUES 67,127 100 52,312 100 28.3 Direct costs 45,327 67.5 34,505 66.0 31.4 GROSS MARGIN 21,800 32.5 17,807 34.0 22.4 Research and Development costs 3,342 5.0 2,210 4.2 51.2 1-2024 details Commercial costs 4,836 7.2 4,573 8.7 5.7 General and Administrative c
Slide 12: Net Financial Debt: solid financial position
12 .000 Euro 31.03.2024 31.12.2023 Var olid financial position Cash (40,671) (37,927) (2,744) Trading securities at fair value (25,758) (24,058) (1,700) NET Financial Debt: Other Short Term Financial Assets (400) (810) 410 Short term Financial Debts 55,623 57,654 (2,031) Short term Financial Debts (
Slide 13: Balance sheet: details
13 € thousand 31.03.2024 31.12.2023 Change Intangible assets 84,905 85,900 (995 ) _Balance sheet: details Tangible assets 20,994 20,430 564 Other fixed assets 24,236 24,462 (226 ) Fixed Assets 130,135 130,792 (657 ) Inventories 19,747 18,733 1,014 Trade receivables 72,841 74,346 (1,505 ) Other short
Slide 14: Shareholding structure, dividends and treasury shares
14 Shareholding Structure March 31st, 2024* Dividends and Treasury Shares Repurchase (€m) hareholding structure * Latest Public Data Available as of 31 Mar. 2024 Treasury 18 16,3 15,4 Shares; 10% 16 L.V.O. Global Asset Laserline 14 4,6 Management S.A. SpA; 30% 12 3% 10 8 6,8 13,3 5,3 5,5 6 11,7 1 4
Slide 15: Q&A
16 Q&A