Home / Knowledge / News / Information Technology / TXT nine months' sales surge 16.2%, declares 1-on-1 bonus
TXT nine months' sales surge 16.2%, declares 1-on-1 bonus
11
Nov '13
The Board of Directors of TXT e-solutions, chaired by Alvise Braga Illa, approved TXT financial results for the period ended on September 30, 2013.

Highlights:

- Consolidated Revenues: € 39.6 million (+16.2%), 54% from outside Italy.

- EBITDA: € 4.8 million (+9.2% compared to September 30, 2012).

- Net profit: € 2.9 million (€ 3.0 million as of September 30, 2012, net of nonrecurring capital gain).

- Net Financial Position: € 6.3 million (€ 6.0 million as of December 31, 2012).

In the first nine months of 2013 the key business objectives for TXT have been the Luxury and Fashion markets in Europe and in North America, where TXT offers its proprietary software TXT Perform for “end to end” planning of large, international Luxury and Retail customers.

Revenues grew by 16.2%, from € 34.1 million to € 39.6 million. Sales of licences and maintenance totalled € 10.2 million (26% as a percentage of revenues), up +31.9% compared to September 30, 2012.

Both business areas made a positive contribution to growth in revenues, with TXT Perform and TXT Next increasing +25.4% (60% of group revenues) and +4.4% (40% of group revenues), respectively. International revenues rose from € 17.5 to € 21.5 million, up +22.4% (54% of total sales).

EBITDA grew by 9.2%, from € 4.4 million to € 4.8 million (12.0% of revenues). In the first nine months of 2013, several new initiatives in support of planned growth increased Research and Development costs (+23.4%) and Commercial costs (+15.9%). All research  and development costs were expensed both in 2013 and in 2012.

Net Income amounted to € 2.9 million (7.3% of revenues), compared to € 3.6 million in the first nine months of 2012, which included € 0.6 million extraordinary capital gain on the sale of KIT Digital shares, following the divestiture of Polymedia. Lower tax charges partly balanced higher amortization costs and financial charges following the Maple Lake acquisition.

Net Financial Position has risen from € 6.0 million positive as of 31 December 2012 to € 6.3 million as of September 30, 2013, due to good cash generation and net of payment of dividends of € 2.1 million.

At both dates Net Financial Position does not include € 2.8 million provision for maximum Earn-out payable to Maple Lake sellers. No additional payment is expected as the contractual target for exceptional synergies are not verified to date, nor expected. Final acquisition price is reduced from € 13.1 million to € 10.1 million and Balance Sheet and Net Financial Position as of December 31, 2012 have been restated to reflect the final acquisition price.

Shareholders’ Equity as of September 30, 2013 amounted to € 26.5 million, compared to € 26.0 million as of December 31, 2012 mainly due to net income of the first nine months (€2.9 million), net of payment of dividends (€ 2.1 million), purchase of treasury shares (€ 0.8 million) and issue of shares for stock option and stock grant plans.

In the first nine months of 2013, TXT Perform launched on the market new “TXT Mobile” and “TXT on Cloud” applications and new releases of TXT Perform.

Click here to read full results

TXT


Must ReadView All

Digital textile printing sector to grow by 20% by 2020

Textiles | On 18th Jun 2018

Digital textile printing sector to grow by 20% by 2020

The digital textile printing sector is expected to have a compound...

Courtesy: Hela Clothing

Apparel/Garments | On 18th Jun 2018

Hela's latest label revolves around underwear, sleepwear

The latest collection of Sri Lanka’s Hela Clothing is revolves mostly ...

Kenya levies higher duties on mitumba import

Apparel/Garments | On 18th Jun 2018

Kenya levies higher duties on mitumba import

Kenya’s treasury secretary Henry Rotich recently raised the duty on...

Interviews View All

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search