Board Change • May 20
Less than half of directors are independent There are 11 new directors who have joined the board in the last 3 years. Of these new board members, 4 were independent directors. The company's board is composed of: 11 new directors. 1 experienced director. No highly experienced directors. 4 independent directors (7 non-independent directors). Chairman of Statutory Auditors Luca Laurini is the most experienced director on the board, commencing their role in 2024. Independent Director Romina Guglielmetti was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • May 20
First quarter 2026 earnings released: €0.11 loss per share (vs €0.07 loss in 1Q 2025) First quarter 2026 results: €0.11 loss per share (further deteriorated from €0.07 loss in 1Q 2025). Revenue: €106.8m (down 7.6% from 1Q 2025). Net loss: €5.11m (loss widened 62% from 1Q 2025). Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 5.4% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. Annonce • Mar 24
Tinexta S.p.A., Annual General Meeting, Apr 22, 2026 Tinexta S.p.A., Annual General Meeting, Apr 22, 2026, at 14:30 W. Europe Standard Time. Annonce • Jan 01
Advent International, L.P. and Nextalia SGR S.p.A. completed the acquisition of 38.74% stake in Tinexta S.p.A. (BIT:TNXT) from Tecno Holding SpA. Advent International, L.P. and Nextalia SGR S.p.A. entered into binding agreement to acquire 38.74% stake in Tinexta S.p.A. (BIT:TNXT) from Tecno Holding SpA for approximately €270 million on August 4, 2025. A cash consideration of €266.40 million valued at €15 per share will be paid by Advent International, L.P. and Nextalia SGR S.p.A. As part of consideration, €266.40 million is paid towards common equity of Tinexta S.p.A. Following the sale, a mandatory tender offer will be launched for the remaining 42.7% of Tinexta's share capital, also at €15 per share. Upon completion of the Transaction and assuming full success of the Offer, the Sponsors will hold the majority of Tinexta’s shares, while Tecno Holding will retain a significant minority stake. The Sale and Purchase and the Offer will be fully financed with funds made available by the Sponsors through contributions.The transaction is subject to approval by the Tecno Holding shareholders' meeting, scheduled for August 7, and regulatory approvals, including antitrust and Golden Power requirements. The closing deadline is January 31, 2026, extendable by two months.
Barclays acted as financial advisor to Advent International, L.P. Lazard S.r.l. as financial advisor, Gatti Pavesi Bianchi Studio Legale Associato act as legal advisor for Tecno Holding SpA. PedersoliGattai and Chiomenti Studio Legale as legal, KPMG S.p.A. and Legance - Avvocati Associati act as accountant for Nextalia SGR S.p. and Advent International, L.P. Bank Of America Merrill Lynch International DAC, Milan Branch acted as financial advisor to Nextalia SGR S.p.A. Barclays Bank Ireland PLC (Milan Branch) acted as financial advisor to Nextalia SGR S.p.A. Banca Akros SpA acted as financial advisor to Advent International, L.P. and Nextalia SGR S.p.A. Alvarez & Marsal Italia Srl acted as due diligence provider to Nextalia SGR S.p.A. Alvarez & Marsal Holdings, LLC acted as due diligence provider to Advent International, L.P. Rothschild & Co US Inc. acted as financial advisor to Advent International, L.P. Rothschild S.p.A. acted as financial advisor to Nextalia SGR S.p.A. Mediobanca Banca di Credito Finanziario S.p.A. acted as financial advisor to Advent International, L.P. and Nextalia SGR S.p.A.
Advent International, L.P. and Nextalia SGR S.p.A. completed the acquisition of 38.74% stake in Tinexta S.p.A. (BIT:TNXT) from Tecno Holding SpA on December 30, 2025. Annonce • Mar 14
Tinexta S.p.A. announces Annual dividend, payable on June 04, 2025 Tinexta S.p.A. announced Annual dividend of EUR 0.3000 per share payable on June 04, 2025, ex-date on June 02, 2025 and record date on June 03, 2025. Valuation Update With 7 Day Price Move • Nov 15
Investor sentiment deteriorates as stock falls 27% After last week's 27% share price decline to €7.52, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 16x in the Professional Services industry in Europe. Total loss to shareholders of 79% over the past three years. New Risk • Nov 14
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 25% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Minor Risks Dividend is not well covered by earnings (113% payout ratio). Share price has been volatile over the past 3 months (7.4% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.3% net profit margin). Reported Earnings • Nov 10
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: €102.7m (up 18% from 3Q 2023). Net loss: €223.0k (down 111% from profit in 3Q 2023). Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 36% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Aug 29
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €12.90, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 16x in the Professional Services industry in Europe. Total loss to shareholders of 65% over the past three years. Reported Earnings • Aug 04
Second quarter 2024 earnings released: EPS: €0.058 (vs €0.12 in 2Q 2023) Second quarter 2024 results: EPS: €0.058 (down from €0.12 in 2Q 2023). Net income: €2.64m (down 53% from 2Q 2023). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 26% per year, which means it is performing significantly worse than earnings. Upcoming Dividend • May 27
Upcoming dividend of €0.46 per share Eligible shareholders must have bought the stock before 03 June 2024. Payment date: 05 June 2024. Payout ratio is on the higher end at 88%, however this is supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of German dividend payers (4.6%). In line with average of industry peers (2.2%). Buy Or Sell Opportunity • May 17
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.0% to €18.25. The fair value is estimated to be €23.09, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has declined by 7.7%. Revenue is forecast to grow by 33% in 2 years. Earnings are forecast to grow by 139% in the next 2 years. Reported Earnings • May 16
First quarter 2024 earnings released: €0.06 loss per share (vs €0.029 profit in 1Q 2023) First quarter 2024 results: €0.06 loss per share (down from €0.029 profit in 1Q 2023). Revenue: €98.4m (up 14% from 1Q 2023). Net loss: €2.63m (down 298% from profit in 1Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has fallen by 8% per year and the company’s share price has also fallen by 8% per year. Board Change • Apr 30
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Gabriella Porcelli was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Annonce • Apr 12
Tinexta S.p.A. (BIT:TNXT) completed the acquisition of Yoroi S.r.l, Swascan S.r.l. and Projects & Solutions Division from Corvallis S.p.A. and others. Tinexta S.p.A. (BIT:TNXT) signed binding agreement to acquire majority stake in Yoroi S.r.l, Swascan S.r.l. and Projects & Solutions Division from Corvallis S.p.A. and others for €47.8 million on October 12, 2020. As per the transaction, Tinexta S.p.A. will acquire majority stake of Projects & Solutions Division from Corvallis S.p.A. The closing of the transaction is expected in early 2021, with the exception of the acquisition of the majority of Swascan, which should be finalized in 2020. As of October 20, 2020, Tinexta completed the acquisition of 51% stake in Swascan for €4.2 million. Out of €4.2 million Tinexta paid €2.1 million and remaining will be after the approval of Swascan's 2020 financial results. As of January 22, 2021, Tinexta completed the acquisition of 70% stake in Projects & Solutions Division from Corvallis S.p.A for €25 million. The price for the 70% stake which is equal to €25 million disbursed plus an earnout that will eventually be paid after the approval of 2020 financial statements if the conditions will be met.
Tinexta S.p.A. (BIT:TNXT) completed the acquisition of Yoroi S.r.l, Swascan S.r.l. and Projects & Solutions Division from Corvallis S.p.A. and others on April 11, 2024. Reported Earnings • Mar 10
Full year 2023 earnings released: EPS: €0.60 (vs €0.66 in FY 2022) Full year 2023 results: EPS: €0.60 (down from €0.66 in FY 2022). Revenue: €395.8m (up 11% from FY 2022). Net income: €27.4m (down 9.3% from FY 2022). Profit margin: 6.9% (down from 8.5% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 6% per year. Valuation Update With 7 Day Price Move • Dec 19
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €20.42, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 16x in the Professional Services industry in Europe. Total returns to shareholders of 3.3% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €37.41 per share. Upcoming Dividend • May 29
Upcoming dividend of €0.51 per share at 2.9% yield Eligible shareholders must have bought the stock before 05 June 2023. Payment date: 07 June 2023. Payout ratio is on the higher end at 76%, however this is supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of German dividend payers (4.7%). In line with average of industry peers (2.8%). Reported Earnings • May 12
First quarter 2023 earnings released: EPS: €0.029 (vs €0.08 in 1Q 2022) First quarter 2023 results: EPS: €0.029 (down from €0.08 in 1Q 2022). Revenue: €86.1m (down 10% from 1Q 2022). Net income: €1.33m (down 63% from 1Q 2022). Profit margin: 1.5% (down from 3.7% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Mar 10
Full year 2022 earnings released: EPS: €0.71 (vs €0.83 in FY 2021) Full year 2022 results: EPS: €0.71 (down from €0.83 in FY 2021). Revenue: €357.2m (down 4.8% from FY 2021). Net income: €32.6m (down 15% from FY 2021). Profit margin: 9.1% (down from 10% in FY 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 5.5% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Dec 30
Tinexta S.p.A. (BIT:TNXT) signed a binding agreement to acquire a 20% stake in Defence Tech Holding S.p.A. (BIT:DTH) from Comunimpresa S.R.L., Starlife S.R.L. and Ge.Da. S.R.L. for €25 million. Tinexta S.p.A. (BIT:TNXT) signed a binding agreement to acquire a 20% stake in Defence Tech Holding S.p.A. (BIT:DTH) from Comunimpresa S.R.L., Starlife S.R.L. and Ge.Da. S.R.L. for €25 million on December 28, 2022. Tinexta will pay €4.9 cash per share for 5.1 million shares, representing 20% stake in Defence. Buying Opportunity • Dec 23
Now 21% undervalued Over the last 90 days, the stock is up 25%. The fair value is estimated to be €26.98, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 7.5% in 2 years. Earnings is forecast to grow by 29% in the next 2 years. Reported Earnings • Nov 16
Third quarter 2022 earnings released Third quarter 2022 results: Net income: (down €4.09m from profit in 3Q 2021). Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 12
Third quarter 2022 earnings released Third quarter 2022 results: Net income: (down €7.12m from profit in 3Q 2021). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 11
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: (down 100% from 2Q 2021). Net income: (down €13.7m from profit in 2Q 2021). Profit margin: (down from 14% in 2Q 2021). The decrease in margin was driven by lower expenses. Over the next year, revenue is expected to shrink by 3.6% compared to a 8.2% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improved over the past week After last week's 20% share price gain to €25.78, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 17x in the Professional Services industry in Europe. Total returns to shareholders of 102% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €38.15 per share. Annonce • Jun 01
CRIF S.p.A. entered into an agreement to acquire Credit Information and Management division from Tinexta S.p.A. (BIT:TNXT) for approximately €240 million. CRIF S.p.A. entered into an agreement to acquire Credit Information and Management division from Tinexta S.p.A. (BIT:TNXT) for approximately €240 million on May 30, 2022. The division includes Innolva S.p.A., with its subsidiaries currently owned at 75% by Tinexta and at 25% by Intesa Sanpaolo, and ReValuta S.p.A. which is currently owned at 95% by Tinexta and at 5% by Cedacri, holder of a statutory pre-emption right. ForValue, a subsidiary of Innolva, will not be transferred to CRIF and will remain within the Tinexta Group with the objective to continue the strategic partnership with Intesa Sanpaolo. The payment of consideration will be made in cash at closing. The division generated €75.4 million in revenues in 2021. The sale of Tinexta's shareholding in Innolva is subject to certain conditions precedent, including the transfer by Intesa Sanpaolo of 25% of Innolva to CRIF and additional conditions precedent usual for this kind of transactions, including the Golden Power authorisation. The agreement with CRIF also provides that prior to the closing of the Transaction, Innolva shall transfer ForValue to Tinexta or a company designated by Tinexta. The deal is expected to close in the second half of 2022. Mediobanca Banca di Credito Finanziario S.p.A. (BIT:MB) acted as financial advisor and Gianni, Origoni, Grippo, Cappelli & Partners acted as legal advisor to Tinexta where as NCTM Studio Legale Associato acted as legal advisor to CRIF. Upcoming Dividend • May 30
Upcoming dividend of €0.30 per share Eligible shareholders must have bought the stock before 06 June 2022. Payment date: 08 June 2022. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of German dividend payers (4.3%). Lower than average of industry peers (2.5%). Reported Earnings • May 15
First quarter 2022 earnings released: EPS: €0.08 (vs €0.12 in 1Q 2021) First quarter 2022 results: EPS: €0.08 (down from €0.12 in 1Q 2021). Revenue: €96.0m (up 16% from 1Q 2021). Net income: €3.55m (down 34% from 1Q 2021). Profit margin: 3.7% (down from 6.5% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 18%, compared to a 11% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €25.30, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 19x in the Professional Services industry in Europe. Total returns to shareholders of 182% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €37.97 per share. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS €0.15 (vs €0.22 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: €83.7m (up 29% from 3Q 2020). Net income: €7.12m (down 31% from 3Q 2020). Profit margin: 8.5% (down from 16% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 81% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 05
Second quarter 2021 earnings released: EPS €0.30 (vs €0.28 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: €95.1m (up 38% from 2Q 2020). Net income: €13.9m (up 8.2% from 2Q 2020). Profit margin: 15% (down from 19% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 84% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Aug 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Gianmarco Montanari was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Jul 24
Investor sentiment improved over the past week After last week's 20% share price gain to €38.20, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 25x in the Professional Services industry in Europe. Total returns to shareholders of 640% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €33.52 per share. Upcoming Dividend • Jun 01
Upcoming dividend of €0.26 per share Eligible shareholders must have bought the stock before 07 June 2021. Payment date: 09 June 2021. Trailing yield: 0.9%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (2.0%). Reported Earnings • May 18
First quarter 2021 earnings released: EPS €0.14 (vs €0.06 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: €82.7m (up 51% from 1Q 2020). Net income: €6.70m (up 131% from 1Q 2020). Profit margin: 8.1% (up from 5.3% in 1Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • Mar 14
Full year 2020 earnings released: EPS €0.80 (vs €0.60 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: €269.1m (up 4.0% from FY 2019). Net income: €37.3m (up 32% from FY 2019). Profit margin: 14% (up from 11% in FY 2019). Analyst Estimate Surprise Post Earnings • Mar 14
Revenue beats expectations Revenue exceeded analyst estimates by 0.02%. Over the next year, revenue is forecast to grow 30%, compared to a 7.3% growth forecast for the Professional Services industry in Germany. Is New 90 Day High Low • Feb 14
New 90-day high: €22.20 The company is up 12% from its price of €19.84 on 13 November 2020. The German market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Professional Services industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €14.30 per share. Annonce • Jan 24
Tinexta S.p.A., Annual General Meeting, Apr 27, 2021 Tinexta S.p.A., Annual General Meeting, Apr 27, 2021. Is New 90 Day High Low • Dec 24
New 90-day high: €21.65 The company is up 28% from its price of €16.94 on 25 September 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Professional Services industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €14.52 per share. Reported Earnings • Nov 21
Third quarter 2020 earnings released: EPS €0.22 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: €65.1m (up 19% from 3Q 2019). Net income: €10.3m (up 106% from 3Q 2019). Profit margin: 16% (up from 9.1% in 3Q 2019). The increase in margin was driven by higher revenue. Reported Earnings • Nov 16
Third quarter 2020 earnings released: EPS €0.22 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: €65.1m (up 19% from 3Q 2019). Net income: €10.3m (up 107% from 3Q 2019). Profit margin: 16% (up from 9.1% in 3Q 2019). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Oct 15
Market bids up stock over the past week After last week's 18% share price gain to €19.60, the stock is trading at a trailing P/E ratio of 31x, up from the previous P/E ratio of 26.3x. This compares to an average P/E of 26x in the Professional Services industry in Europe. Total returns to shareholders over the past year are 56%. Is New 90 Day High Low • Oct 14
New 90-day high: €19.30 The company is up 37% from its price of €14.10 on 16 July 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Professional Services industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €16.17 per share.