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

Egypt’s textile exports increase 3% in 10 months: TEC

Textiles | On 21st Nov 2017

Egypt’s textile exports increase 3% in 10 months: TEC

Exports by Egypt’s Textile Export Council (TEC) between January and...

UKFT turns sector skills body for UK fashion, textile sector

Textiles | On 21st Nov 2017

UKFT turns sector skills body for UK fashion, textile sector

The UK Fashion & Textile Association (UKFT) recently announced at a...

Pakistan’s textile exports up 7.72% in July-Oct ’17

Textiles | On 21st Nov 2017

Pakistan’s textile exports up 7.72% in July-Oct ’17

The value of textile and garment exports from Pakistan increased by...

Interviews View All

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Eamonn Tighe
Nature Works LLC

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

Judy Frater
Somaiya Kala Vidya

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

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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

November 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search