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

Courtesy: Bruckner

Textiles | On 3rd Dec 2016

Indian textile companies opt for Brückner stenter lines

Indian textile firms Laxmipati Sarees, makers of polyester sarees and ...

Textiles | On 2nd Dec 2016

Indian currency crisis impacts global cotton market

The currency crisis in India, marked by insufficient supply of new...

Huang Wei from Fiber Raw Material Dept of Sinopec Chemical Commercial Holding speaking at the Forum

Textiles | On 2nd Dec 2016

Huge potential for nylon consumption: Experts

There is huge potential for increase in nylon consumption said...

Interviews View All

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Judy Frater
Somaiya Kala Vidya

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

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search