Italy · Delayed Price · Currency is EUR Tinexta Earnings Call Transcripts
Fiscal Year 2026
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Flat revenues at €214M, with Digital Trust and Business Innovation growth offset by a sharp Cybersecurity decline. Adjusted EBITDA fell 3% to €34M, while strong cash flow and cost controls supported financial stability. Guidance was revised down, reflecting ongoing Cybersecurity challenges.
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Q1 2026 saw stable revenues and strong free cash flow, but margins declined due to higher costs and weak Cybersecurity and French markets. Guidance for modest revenue and EBITDA growth is confirmed, with cost controls in place.
Fiscal Year 2025
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Revenue grew 4% to EUR 457 million, but adjusted EBITDA and net profit declined due to impairments and regulatory headwinds. Strong cash flow reduced net debt, while outlook for 2026 targets moderate revenue and margin growth, with continued cost discipline.
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Revenue rose 13% year-over-year with strong EBITDA growth, but reported EBIT and net profit were negative due to impairments. Guidance was revised downward for organic growth, mainly due to ABF and regulatory changes in Italy and France, while free cash flow and leverage improved.
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Revenue grew 16% and adjusted EBITDA rose 13% year-over-year, with strong cash flow and improved leverage. Cybersecurity and digital trust segments outperformed, while business innovation lagged but is expected to recover in H2. Full-year guidance for revenue and EBITDA growth is confirmed.
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Q1 2025 saw 17% revenue and 24% adjusted EBITDA growth, with strong cash flow and improved leverage. Cybersecurity and business innovation units led performance, while digital trust was impacted by timing effects. 2025 guidance is confirmed, with continued focus on integration and operational efficiency.
Fiscal Year 2024
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FY2024 saw 15% revenue growth and 8% adjusted EBITDA growth, but guidance was missed due to external shocks and integration challenges. 2025 guidance targets 12–14% revenue growth, with recovery hinging on Industry 5.0 incentives and improved operational efficiency.
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Nine-month 2024 revenues grew 13% year-over-year, led by strong Digital Trust performance, while Cybersecurity and Business Innovation faced external headwinds. Updated guidance reflects market challenges, with a share buyback program and successful Defence Tech acquisition supporting future growth.
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Revenue grew 11% YoY to €203M in H1 2024, with Digital Trust leading growth and strong free cash flow. Adjusted EBITDA fell 9% due to ABF and revenue mix, but core business remains robust. FY2024 guidance sees double-digit growth, with H2 acceleration expected as regulatory incentives take effect.
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A call option was exercised to acquire a majority stake in Defense Tech for €67 million, expanding reach in Italian cybersecurity and public administration. The deal is accretive, with expected synergies and a projected 12% revenue CAGR for Defense Tech.