TXT reported flat organic revenues in Q220 and 6% organic growth for H120, despite the disruption caused by COVID-19. Normalised EBIT was 44% higher y-o-y in Q220 and 51% higher for H120. The company took its first step to internationalise its fintech business with the €5m acquisition of a Swiss IT services business in July. We have revised our forecasts to reflect the acquisition and lower underlying operating costs, resulting in upgrades to our normalised EPS forecasts (+29% FY20, +6%
12 Aug 2020
TXT e-solutions - Entering the Swiss fintech market
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TXT e-solutions - Entering the Swiss fintech market
TXT e-solutions S.p.A. (TXT:MIL) | 0 0 0.0%
- Published:
12 Aug 2020 -
Author:
Katherine Thompson -
Pages:
7
TXT reported flat organic revenues in Q220 and 6% organic growth for H120, despite the disruption caused by COVID-19. Normalised EBIT was 44% higher y-o-y in Q220 and 51% higher for H120. The company took its first step to internationalise its fintech business with the €5m acquisition of a Swiss IT services business in July. We have revised our forecasts to reflect the acquisition and lower underlying operating costs, resulting in upgrades to our normalised EPS forecasts (+29% FY20, +6%