Txt E-solutions S.p.a. · MIL:TXT
Txt E-solutions — Mid & Small in Milan 2022
27 slides from Txt E-solutions's conference presentation, Nov 29, 2022
Slide 1: Mid & Small in Milan 2022
Mid & Small in Milan 2022 November 29 Daniele MISANI, CEO Andrea FAVINI, IR
Slide 2: TXT international IT group: why, where, how
2 We have a solid network of TXT is an international IT Group, end- multidisciplinary competences and to-end provider of consultancy, vertical excellences, developed in software services and solutions, industries in which we are the leader. supporting the digital innovation of customers’ products an
Slide 3: Strong organic growth and M&A contribution to improve KPIs
3 Strong organic growth and M&A contribution to constantly improve KPIs Revenues by Market EBITDA (€mn, % on total revenues) (€mn, % on total revenues) +39% €92.4 +55% €13.5 €66.7 €48.2 52% €8.8 +30% €37.1 56% 14,6% €44.2 13,1% €29.6 +49% 48% 44% 9m-21 9m-22 9m-21 9m-22 FinTech Aerospace & Aviation
Slide 4: 9m-22 key figures
4 € 9.2Mn 9m-22, +71% vs. 9m-21 € 5.8Mn 9m-22, +14% vs. 9m-21 € 7.3Mn +16% vs. 9m-21, + € 20Mn from services around proprietary SW € 26Mn 29% of total revenues € 13Mn (Net Financial Debt) + € 13 Mn* in Treasury Shares * Value calculated with stock price of € 11,2 per share (Share Price Sep. 30th, 20
Slide 5: Strategy and company history
5 Continue to consolidate offering in Software Engineering Solutions, Digital Advisory and Smart Solutions portfolio, strengthening the acquired positioning and addressing new market segments and geographies Increase international business with stronger presence in Germany and Switzerland Increase d
Slide 6: Revenues and EBITDA margin growth 2017-2021
6 After the divestment of the retail division in 2017, revenues and EBITDA Margin have benefit from TXT Group's growth strategy driven by diversification and investments in innovation and synergies 15,1% New TXT after divestment of Retail division: CAGR 2018-2021: 96 Revenues (Total) 34,1% EBITDA 56
Slide 7: Markets & Offering
MARKETS & OFFERING
Slide 8: Aerospace & Aviation and Fintech markets
8 We are an international specialized provider of digital solutions relying on distinctive technological and business-critical core processes expertise to support major players in different markets with a unique ability to solve customers’ problems within their digital transformation journey by driv
Slide 9: Business Models
9 Business Solid network of multidisciplinary competences and vertical excellences, Models customers can rely on experts. We accelerate the customer’s digital transition Smart solutions market-ready for specific verticals in customers’ core by providing advanced vertical solutions. processes. Large
Slide 10: Pacelab software products
10 Our Pacelab range of commercial off-the-shelf software products is the result of more than two decades of working with and carefully listening to a highly diverse customer base from the aerospace & defense industries. It is based on a strong commitment to sustained innovation and product quality
Slide 11: Fintech products: Cheleo Suite, Faraday, Polaris
11 Our FinTech products range from best-in-class financial software for the management of financing to innovative platforms for different mission-critical needs as Risk management and Digital payments, offered as SaaS and designed to be responsive with unique customer needs. Discover Discover Discov
Slide 12: 2022 Growth drivers & M&A
12 _2022 Growth drivers & M&A
Slide 13: Organic Growth: double-digit growth in all Divisions and Markets
13 Double-digit growth in Organic Growth: all Divisions and Markets • Public Sector, with subsidiary HSPI SpA, recoded organic growth of 26% driven by multi-year contracts related to CONSIP (purchasing center of the Italian public administration) public tenders for the digitalization of the Italian
Slide 14: M&A 2022: DM Management & Consulting
14 14 M&A 2022: • TXT expanded its Smart Solutions IoT portfolio with the acquisition of 100% of the capital of DM Management & Consulting Srl ('DM'), an Italian small enterprise specialising in the consultancy and sale of proprietary MES/MOM software for factory management, which will complement th
Slide 15: M&A 2022: Ennova
15 15 M&A 2022: • In the context of the accelerated growth project and diversification of its digital offering, TXT acquired 100% of the capital of Ennova SpA ('Ennova'), an Italian specialist in the digitisation of processes and products of large customers and SMEs; • Ennova, founded in 2010 in the
Slide 16: M&A 2022: SPS
16 16 M&A 2022: • TXT expanded its market positioning in the domestic digital market with the acquisition of 100% of the capital of Soluzioni Prodotti Sistemi S.r.l. ('SPS') • SPS was founded in Rome in 2009 and today has 100+ resources distributed over the three operating offices in Rome, Bari and
Slide 17: M&A 2022: PGMD Consulting
17 17 M&A 2022: • TXT strengthened its Digital Advisor offering in the ICT Governance field with the acquisition of 100% of the capital of PGMD Consulting Srl ('PGMD') • PGMD, based in Milan and counts over 25 resources, offers specialised consulting expertise in digital advisory and transformation
Slide 18: M&A 2022: TLogos
18 18 M&A 2022: • TXT strengthened its Digital Advisor offering in the cybersecurity field with the signing of the investment agreement to acquire 100% of the capital of TLogos S.r.l. ('TLogos') • TLogos, funded in Rome in 2011, is a digital consulting boutique specialised in cybersecurity with high
Slide 19: M&A 2022: ProSim Training Solutions
19 19 M&A 2022: • TXT signed an agreement for the investment in ProSim Training Solutions ('ProSim-TS'); • The initial investment consists of a capital increase in ProSim-TS against which TXT will own a minority stake (40%), and the agreement includes further investments round that will allow TXT to
Slide 20: 9 months 2022 Financials
20 9 months-2022 FINANCIALS
Slide 21: 9 months 2022 income statement
21 € thousand 9 months 2022 % 9 months 2021 % Var % REVENUES 92,400 100 66,733 100 38.5 Direct costs 56,538 61.2 40,122 60.1 40.9 GROSS MARGIN 35,862 38.8 26,611 39.9 34.8 Research and Development costs 5,778 6.3 5,091 7.6 13.5 Commercial costs 8,813 9.5 6,481 9.7 36.0 General and Administrative cos
Slide 22: Q3 2022 income statement
22 € thousand Q3 2022 % Q3 2021 % Var % REVENUES 29,862 100 23,034 100 29.6 Direct costs 18,056 60.5 13,037 56.6 38.5 GROSS MARGIN 11,806 39.5 9,997 43.4 18.1 Research and Development costs 1,824 6.1 1,778 7.7 2.6 Commercial costs 3,094 10.4 3,109 13.5 (0.5) General and Administrative costs 2,548 8.
Slide 23: Net financial debt
23 € thousand 30.09.2022 31.12.2021 Var Cash 40,378 36,076 4,302 Trading securities at fair value 46,293 48,869 (2,576) Other Short Term Financial Assets 1,141 - 1,141 Short term Financial Debts (42,979) (47,125) 4,146 Short term Financial Resources 44,833 37,820 7,013 Non current Financial Debts -
Slide 24: Capital employed and financing
24 € thousand 30.09.2022 31.12.2021 Change Intangible assets 56,507 55,182 1,325 Tangible assets 12,632 12,126 506 Other fixed assets 24,450 16,529 7,921 Fixed Assets 93,589 83,837 9,752 Inventories 16,167 7,810 8,357 Trade receivables 31,835 43,156 (11,321 ) Other short term assets 9,032 8,864 168
Slide 25: Share price, shareholders and dividends
25 Latest Public Data Available as of 30 Sep. 2022 16,3 18 Treasury 16 Shares; 9% Laserline 14 4,6 SpA; 30% 12 10 8 6,8 1 5,3 5,1 6 11,7 4 5,8 5,3 5,1 0,76 Market; 2 0,26 0,5 0 0 50% 0 2018 2019 2020 2021 9m-22 Managers; Repurchase Treasury Shares Payment dividends €milion 11% Total Year Dividends S
Slide 26: TXT
Ls TXT
Slide 27: Q&A
27 Q&A