TXT e-solutions SpA (MIL:TXT)

Q2 2026 TXT e solutions SpA Earnings Call Transcript

Aug 6, 2026 / 12:30 PM GMT

Release Date Price: €50.5 (+2.43%)

Transcript

Key Points

Positve

TXT e-solutions SpA (STU:TXE) reported a strong 30% revenue growth in the first nine months of 2025, with organic growth of approximately 10%.
EBITDA grew by 50% to €41.1 million, outpacing revenue growth and improving the EBITDA margin to 14.6%, up 180 basis points year-over-year.
The high-margin Smart Solutions division grew 46% year-over-year, with its EBITDA margin exceeding 20% despite a 70% increase in R&D investment.
The company is successfully executing its internationalization strategy, with international revenues now representing 60% of total revenues and new offices opened in Dubai.
Management confirmed a strong project pipeline, particularly in aerospace & defense, fintech, and IoT, with significant deals expected to close in Q4 2025 and 2026.
The adjusted net profit grew by 42.8% to €21.1 million, demonstrating strong bottom-line performance and operational leverage.

Negative

Net working capital absorption was significantly higher than planned, increasing by €18.4 million due to higher inventories and trade receivables, pressuring cash conversion.
The sale of the Banca del Fucino stake was postponed from September to the end of December 2025 due to regulatory issues, delaying expected cash inflows.
The company's net financial debt increased to €120 million, partly due to higher IFRS 16 lease liabilities and continued M&A and buyback activities.
The Q3 2025 revenue growth of 13.6% was lower than the first half, partly due to a tough comparison base from the previous year.
The company is incurring significant upfront costs for new initiatives, including the MarTech scale-up and fintech certifications, which are pressuring short-term profitability.
The reported net profit margin remained flat at 5.5% due to a strong acceleration in PPA amortization from recent acquisitions.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

TXTS.MI - TXT e solutions SpA
Q2 2026 TXT e solutions SpA Earnings Call
Aug 06, 2026 / 12:30PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon everyone and welcome to the Investor Call. Today we are going to present the results of the first nine months of 2025 and the fourth quarter of the year. Together with me the CEO Daniele Misani will introduce the... Good morning.

Good morning Daniele and we'll introduce the results, main business updates. I will then.

Go deeper into the financial and at the end of the quarter, there will be a Q&A section and you can leave your answer in the dedicated chatbot that is available in the meeting room.

We will wait just a few seconds more and then we will start with the investor call.

Thank you so much for inviting me.

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