(Finance) – Tinextaa company listed on Euronext STAR Milan and active in Digital Trust, Cybersecurity and Innovation & Marketing services, has closed the first nine months of 2024 with Revenues equal to 305.7 million euros (+13.4%), Adjusted EBITDA equal to 56.1 million euros (-1.5%) e Net Profit of ongoing operational activities equal to 3 million euros (-75.5%).
Tinexta recorded an increase in financial charges for 7.2 million euros includes charges for the adjustment of potential considerations for 1.4 million and non-recurring charges for 5.1 million relating to the write-down of the 20% investment in Defense Tech. THE’Net financial debt at 30 September 2024 it amounted to 305.6 million euros, with an increase of 203.5 million compared to 31 December 2023.
“The results of the first nine months show growing revenues and a very good performance of the Digital Trust Business Unit – commented theCEO Pier Andrea Chevallard – The contraction in margins of the Cyber and Business Innovation BUs, however, can be attributed to a temporary contraction in operational efficiency accentuated in the Business Innovation BU by regulatory delays on Transition 5.0. In the period in question, the Group further expanded its scope with new acquisitions to better position itself in some key segments of the market, especially abroad. Tinexta remains well positioned to seize the growth potential of the markets in which it operates, characterized by a strong dynamism fueled by the growing needs of businesses and professionals.”
For the whole of 2024 now Tinexta predicts consolidated revenues growing between 18% and 20%; excluding Defense Tech, growth is expected in a range between 14% and 16% compared to +20% indicated in the Half-Year Financial Report. Adjusted EBITDA is seen growing between 14% and 16%; excluding Defense Tech, growth is expected to be between 10% and 12% compared to the 22% indicated in the Half-Year Financial Report. The debt ratio (adjusted NFP/EBITDA), assuming the successful completion of the tender offer on Defense Tech, is expected to settle at around 2.8x at the end of 2024 (2.7x on a pro forma basis); excluding the acquisition of the majority of Defense Tech, the leverage would have stood at 2.3x compared to 1.9x indicated in the Half-Year Financial Report