Tinexta - Withdrawal of estimates

With the Q325 results, Tinexta's management reduced its financial guidance for FY25 due to lower expectations for ABF Groupe in the Business Innovation division as a result of budget cuts following the political turmoil in France. Post period end, the Italian government announced potentially significant changes to the funding available for Industry 4.0 and 5.0 tax credits, which management is currently assessing and may lead to further downgrades to FY25 estimates. With this uncertainty about FY25 estimates and the expected agreed takeover by Advent International and Nextalia, we are withdrawing our estimates.

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