Txt E-solutions S.p.a. · MIL:TXT
Txt E-solutions — TXT Group — 9M 2025 Earnings Presentation
16 slides from Txt E-solutions's earnings presentation, Nov 13, 2025
Slide 1: TXT Group: 9m-2025 Results Call with Investors
TXT Group: 9m-2025 Results Call with Investors November 13 | 14:30 (CET) Daniele MISANI, CEO Andrea FAVINI, IR
Slide 2: First 9 months 2025 results show increase in profitability
First 9 months 2025 results show an increase in profitability boosted by M&A and sustainable business development Revenues EBITDA €281 Mn Solid Organic Growth in 9m-25 €41.1 Mn +47% +9%* 14.6% of revenues +28% +€18 Mn vs. 9m-2024 * Organic growth normalized by excluding from 2024 perimeter the one-o
Slide 3: KPIs: 9m-2025 by Offering
KPIs by Division (offering) reported in 9m-2025 show growth of the Top Line with strong increase of operating profitability (EBITDA Margin +180bp YoY) in all the divisions, boosted by M&A, synergies between TXT entities, and increasing operational efficiency. _KPIs: 9m-2025 by Offering Revenues by O
Slide 4: Value creation: 9m-25
R&D INVESTMENTS (fully expenses in the period) € 18Mn 9m-25, +70% vs. 9m-24 _Value creation: 9m-25 SMART SOLUTIONS REVENUES € 64Mn 9m-25, +46% vs. 9m-24 INTERNATIONAL REVENUES € 46Mn 16% of total revenues SUSTAINABLE DEBT (ADJUSTED) & TREASURY SHARES FOR FINANCING GROWTH € 119Mn (Net Debt Adjusted)
Slide 5: Core Markets & Incidence
5 Core Markets & Incidence (half-year 2025 data) We are expanding across different markets, with a growing footprint in Aerospace, Aviation, Defense, Industrial, Automotive, Telco, Government and Fintech, by leveraging more than 3000 experts, competence centers in AI, cybersecurity, XR, IoT. 21% Aer
Slide 6: Business Evolution & Subsequent Events
_Business Evolution & Subsequent Events
Slide 7: TXT Media: New Horizons for the MarTech offering of TXT
TXT Media: New Horizons for the MarTech offering of TXT • On August 9, 2025, TXT invested in the development and international expansion of its MarTech division through the establishment of TXT Media, a Dubai-based company (NEWCO) aimed at bringing TXT’s specialized expertise and offerings to the Mi
Slide 8: Business Evolution by Division
Business Evolution by Division • Smart Solutions: 9m-2025 results showed solid double-digit organic growth. The positive trend is set to accelerate, driven by: i) Aerospace & Defence: strong pipeline in both civil and defence, with major contract announcements expected this quarter; ii) Fintech: New
Slide 9: Financials
FINANCIALS
Slide 10: Profit & loss 9m-2025: EBITDA Details & Evolution
€ thousand 30.09.2025 % 30.09.2024 % Var % REVENUES 281,499 100 219,564 100 28.2 EBITDA Details & Evolution Direct costs 174,781 62.1 148,048 67.4 18.1 GROSS MARGIN 106,718 37.9 71,516 32.6 49.2 Research and Development costs 17,786 6.3 10,464 4.8 70.0 Profit & loss 9m-2025: Commercial costs 27,360
Slide 11: Profit & loss 9m-2025: EBITDA to Net Profit Bridge
€ thousand 9m 2025 % 9m 2024 % Var % EBITDA 41,124 14.6 28,030 12.8 46.7 Amortization, Depreciation & Write-offs (Excl. PPA) 8,352 3.0 5,932 2.7 40.8 OPERATING PROFIT (EBIT) ADJ. 32,772 11.6 22,098 10.1 48.3 Net Financial income/(charges) (4,693) (1.7) (2,081) (0.9) 125.5 EBITDA to Net Profit Bridge
Slide 12: Profit & loss Q3-2025
€ thousand Q3 2025 % Q3 2024 % Var % REVENUES 92,404 100 81,370 100 13.6 Direct costs 57,958 62.7 55,151 67.8 5.1 GROSS MARGIN 34,446 37.3 26,219 32.2 31.4 Research and Development costs 6,006 6.5 3,726 4.6 61.2 Commercial costs 8,256 8.9 7,184 8.8 14.9 General and Administrative costs 6,601 7.1 4,7
Slide 13: Net Financial Debt: solid financial position
.000 Euro 30.09.2025 31.12.2024 Var Cash (83,014) (58,250) (24,764) Trading securities at fair value (11,827) (17,283) 5,456 Other Short Term Financial Assets (8,225) (254) (7,970) Short term Financial Debts 69,551 65,658 3,893 olid financial position Short term Financial Debts (33,515 ) (10,130 ) (
Slide 14: Balance sheet: details
€ thousand 30.09.2025 31.12.20024 Change Intangible assets 177,239 159,254 17,985 Tangible assets 32,781 28,840 3,941 Other fixed assets 20,884 26,506 (5,622 ) Fixed Assets 230,904 214,601 16,303 Inventories 34,615 23,737 10,878 _Balance sheet: details Trade receivables 125,620 114,054 11,566 Other
Slide 15: Dividends & Shareholding
Shareholding Structure Sept. 30th, 2025* Dividends and Treasury Shares Repurchase (€m) * Latest Public Data Available as of 30 Sep. 2025 Dividends & Shareholding Treasury 18 15.4 Shares; 2% 16 L.V.O. Global Asset Laserline 14 Management S.A. SpA; 30% 12 3% 10 8.4 6.8 13.3 8 6.5 5.3 5.5 Market; 41% 6
Slide 16: Q&A
TXT Q&A