RESULTS 9M 2024
- Revenues: €305.7 million, +13.4%
- Adjusted EBITDA: €56.1 million, -1.5%
- EBITDA: €45.5 million
- Adjusted Operating Profit: €32.5 million, -20.9%
- Operating profit: €7.4 million
- Net profit from continuing operations: €3.0 million, -75.5%
- Adjusted Net Profit: €19.7 million
- Adjusted Free Cash Flow: €38.1 million, - 5.3% (€54.8 million over the last twelve months at 30 September 2024)
- Net financial debt: €305.6 million (€102.0 million as of 31 December 2023)
GUIDANCE 2024
- Consolidated revenues: +18-20% vs 2023; +14-16% vs 2023 not including DTH vs +20% as per the Half-Year Financial Report.
- Adjusted EBITDA: +14-16% vs 2023; +10-12% vs 2023 not including DTH vs +22% as per the Half-Year Financial Report.
- The leverage ratio (NFP/Adjusted EBITDA) estimated by the Company, considering the successful completion of the public tender offer on Defence Tech, is approximately 2.8x (2.7x on a pro forma basis); the same leverage ratio would be 2.3x not including DTH vs 1.9x as per the Half-Year Financial Report.;
Initiation of buy back activity
At today's meeting, the Board of Directors also approved:
- the convening of the Ordinary and Extraordinary Shareholders' Meeting on 12 December 2024 (single call)
8 November, 2024 - The Board of Directors of Tinexta S.p.A., ("Tinexta" or the "Group"), a leading provider of Digital Trust, Cybersecurity and Business Innovation services, listed on the Euronext Star Milan segment, organised and managed by Borsa Italiana, met today under the chairmanship of Mr. Enrico Salza and approved the Interim Management Report at 30 September 2024. In the first nine months of the year, Revenues were €305.7 million (+13.4%), Adjusted EBITDA amounted to €56.1 million (-1.5%) and Net Profit was €3.0 million.
The Chairman Enrico Salza commented: "Tinexta Group continues on its development path, consolidating its presence in its key target markets and increasing in overall size".
The Chief Executive Officer Pier Andrea Chevallard commented: "First nine months results show revenue growth and a very good performance of the Digital Trust Business Unit. The contraction of margins in the Cyber and Business Innovation BUs, on the other hand, is due to a temporary drop in operating efficiency accentuated in the Business Innovation BU by regulatory delays on Industry 5.0. During this period, the Group further expanded its scope with new acquisitions to better position itself in some key market segments, especially abroad. Tinexta remains well positioned to seize the growth potential of the markets in which it operates, characterized by strong dynamism driven by the growing needs of businesses and professionals."
Press release:
https://tinexta.com/-/media/tinexta/data/media/files/docs/MediaRelations/2024/ENG/ENG-Comunicato-Stampa-9M-2024_301024_.pdf
- Revenues: €305.7 million, +13.4%
- Adjusted EBITDA: €56.1 million, -1.5%
- EBITDA: €45.5 million
- Adjusted Operating Profit: €32.5 million, -20.9%
- Operating profit: €7.4 million
- Net profit from continuing operations: €3.0 million, -75.5%
- Adjusted Net Profit: €19.7 million
- Adjusted Free Cash Flow: €38.1 million, - 5.3% (€54.8 million over the last twelve months at 30 September 2024)
- Net financial debt: €305.6 million (€102.0 million as of 31 December 2023)
GUIDANCE 2024
- Consolidated revenues: +18-20% vs 2023; +14-16% vs 2023 not including DTH vs +20% as per the Half-Year Financial Report.
- Adjusted EBITDA: +14-16% vs 2023; +10-12% vs 2023 not including DTH vs +22% as per the Half-Year Financial Report.
- The leverage ratio (NFP/Adjusted EBITDA) estimated by the Company, considering the successful completion of the public tender offer on Defence Tech, is approximately 2.8x (2.7x on a pro forma basis); the same leverage ratio would be 2.3x not including DTH vs 1.9x as per the Half-Year Financial Report.;
Initiation of buy back activity
At today's meeting, the Board of Directors also approved:
- the convening of the Ordinary and Extraordinary Shareholders' Meeting on 12 December 2024 (single call)
8 November, 2024 - The Board of Directors of Tinexta S.p.A., ("Tinexta" or the "Group"), a leading provider of Digital Trust, Cybersecurity and Business Innovation services, listed on the Euronext Star Milan segment, organised and managed by Borsa Italiana, met today under the chairmanship of Mr. Enrico Salza and approved the Interim Management Report at 30 September 2024. In the first nine months of the year, Revenues were €305.7 million (+13.4%), Adjusted EBITDA amounted to €56.1 million (-1.5%) and Net Profit was €3.0 million.
The Chairman Enrico Salza commented: "Tinexta Group continues on its development path, consolidating its presence in its key target markets and increasing in overall size".
The Chief Executive Officer Pier Andrea Chevallard commented: "First nine months results show revenue growth and a very good performance of the Digital Trust Business Unit. The contraction of margins in the Cyber and Business Innovation BUs, on the other hand, is due to a temporary drop in operating efficiency accentuated in the Business Innovation BU by regulatory delays on Industry 5.0. During this period, the Group further expanded its scope with new acquisitions to better position itself in some key market segments, especially abroad. Tinexta remains well positioned to seize the growth potential of the markets in which it operates, characterized by strong dynamism driven by the growing needs of businesses and professionals."
Press release:
https://tinexta.com/-/media/tinexta/data/media/files/docs/MediaRelations/2024/ENG/ENG-Comunicato-Stampa-9M-2024_301024_.pdf
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