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

Pic: Aura Blockchain Consortium

Fashion | On 21st Apr 2021

LVMH, Prada and Cartier form world's first global luxury blockchain

Three major luxury names—LVMH, Prada and Cartier, part of...

Pic: Shutterstock

Textiles | On 21st Apr 2021

India-Bangladesh MoU on cooperation in trade remedial measures

India's Cabinet chaired by Prime Minister Narendra Modi has given its ...

Pic: Infinited Fiber Company

Textiles | On 21st Apr 2021

Infinited Fiber plans to build €220 mn flagship factory in Finland

Circular fashion and textile technology group Infinited Fiber Company ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Value of 'Made in India' should get more importance

Textile Industry, Head honchos

Textile Industry
Head honchos

Verticals like fast fashion won’t completely adopt personalisation on...

Textile Industry, Head honchos

Textile Industry
Head honchos

Main challenges are breakdown of supply chain and shrinkage of manpower

Alberto Gotti,

Alberto Gotti

Danitech was born from the will of a group of technicians to offer the...

Manoj Sorathiya,

Manoj Sorathiya

Surat-based Sunrise Imports & Exports Co is a manufacturer and...

Emmi Berlin,

Emmi Berlin

With the support of the first investors - Finland's Technical Research...

Madison Maxey, Loomia

Madison Maxey
Loomia

Loomia designs and manufactures soft circuit systems that can be produced...

Karan Bose, Hula Global

Karan Bose
Hula Global

Hula Global, a leading isolation gown manufacturer in India, has been...

Sanjay Raut, Garware Technical Fibres Ltd

Sanjay Raut
Garware Technical Fibres Ltd

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Abhishek Bajaj & Samiksha Bajaj, Samshek

Abhishek Bajaj & Samiksha Bajaj
Samshek

Samshek is a fashion forward tech brand which combines digital experience...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Samatvam, a womenswear brand that blends age-old craftsmanship with modern ...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha & Jigar blends India's unique handcrafts...

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


April 2021

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


Advanced Search