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Tinexta (TNXT) investor relations material
Tinexta Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenues grew 13.6% year-over-year to €347.2 million, with organic growth of up to 4.8% and strong contributions from acquisitions, notably in Cybersecurity and Digital Trust, despite delays in Ascertia and challenges in Business Innovation from French market instability.
Adjusted EBITDA rose 11.9% to €62.7 million (18.1% margin), while reported EBITDA increased 19.9% to €54.5 million due to lower LTI incentive charges.
Adjusted Net Profit was €15.1 million, but reported Net Loss was €16.5 million, mainly due to €29.6–31.8 million in non-recurring goodwill impairments.
Free cash flow reached €55.9 million, up 46–47% year-over-year, reflecting strong cash generation and lower CapEx.
Net financial position improved to €299.2 million, with leverage (NFP/EBITDA) dropping to 2.55x.
Financial highlights
Adjusted EBITDA margin was 18.1% (vs 18.3% PY); reported EBITDA margin improved to 15.7% (from 14.9% PY).
Adjusted EBIT was €31.4 million, while reported EBIT was negative €26.3 million due to goodwill impairments.
Free cash flow from continuing operations was €55.9 million (+46–47% year-over-year).
Dividends paid totaled up to €21.2 million.
Net financial position/EBITDA at 2.55x, expected to drop to 2.4x by year-end.
Outlook and guidance
2025 revenue growth expected at 11–13% (6–8% organic), with adjusted EBITDA (excluding ABF) up 12–14% and including ABF up 8–10% (3–5% organic).
Leverage ratio forecasted to end the year at 2.4x.
Guidance revised downward due to ABF underperformance and French political/economic instability.
Regulatory changes in Italy (Transition 5.0) and France (France 2030) may impact future business innovation and funding.
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