Bechtle provides full
coverage with considerably more than 50 system houses in Germany and
and is one of Europe's leading IT e-commerce providers. It is a
that allows Bechtle to pursue a unique business strategy in Europe – a
blend of system house services and direct sales of branded IT products.
Bechtle, which was founded in 1983, is a manufacturer-independent
that provides one-stop shopping for all the IT infrastructure needs of
more than 25,000 customers from industry, the public sector and the
markets. Bechtle has a workforce of about 4,250 people. Bechtle has
listed on the German stock exchange since 2000 and is on the TecDAX,
German technology index.
Bechtle reports extremely strong third quarter.
Neckarsulm, 14 November 2013 – In the third quarter of 2013, Bechtle AG
generated revenues of €558.8 million, an increase of 11.4 per cent.
From July to September, the growth was again driven by the domestic
system houses, which contributed to the revenue growth with an
above-average increase of 16.7 per cent. Earnings before taxes (EBIT)
increased 35.3 per cent to €25.2 million. In this field too, the
development was mainly supported by the IT system house & managed
services segment, which was able to boost its EBIT by an outstanding
65.5 per cent to €17.0 million. The cumulative EBIT as of 30 September
amounted to €54.6 million, 6.7 per cent more than in the prior year.
“The excellent performance of Bechtle in the third quarter confirms our
strategy of combining trade and project business with high-quality
services. In this way, we have further improved our market and
competitive position. We are also increasingly seeing the benefits of
the investments in our team. All in all, the preconditions for a strong
final quarter are good,” says Dr. Thomas Olemotz, Chairman of the
System houses report excellent quarterly result.
In the third quarter, the IT system house & managed services
segment made an above-average contribution to the company’s growth. At
€385.0 million, revenues were 14.6 per cent higher than in the
corresponding prior-year quarter (€336.0 million). The domestic system
houses served as the growth driver, stepping up their contribution to
the group revenue by 16.7 per cent to €348.2 million (prior year:
€298.4 million). In the third quarter of 2013, the segment EBIT
increased 65.5 per cent to €17.0 million (prior year: €10.3 million).
At 4.4 per cent, the EBIT margin was significantly higher than in the
prior year (3.1 per cent). This development was mainly driven by the
increased share of high-quality services.
IT e-commerce reports high margin level as usual.
In the IT e-commerce segment, the revenue in the third quarter went up
4.9 per cent from €165.6 million to €173.8 million. Domestic revenues
climbed 3.1 per cent from €55.8 million to €57.5 million. The European
e-commerce companies grew 5.8 per cent to €116.2 million (prior year:
€109.8 million). EBIT decreased slightly from €8.3 million to €8.2
million. At 4.7 per cent, the margin remained at a high level, as in
the prior year (5.0 per cent).
Balance sheet structure sound as a bell.
As of 30 September, cash and cash equivalents including time deposits
and securities amounted to a comfortable €119.9 million. Thus, Bechtle
is free of debt, as the total liquidity exceeds the total financial
liabilities by €47.0 million. As of the balance sheet date, the equity
totalled €475.2 million, 3.4 per cent more than on 31 December. The
equity ratio improved from 54.4 per cent to 57.8 per cent.
High training ratio.
As of the reporting date 30 September 2013, the Bechtle Group had a
total of 6,150 employees, including 480 trainees. Compared to 31
December 2012, this means an increase of 180. The increase is
attributable both to acquisitions in Germany and Switzerland and to the
high number of new trainees. Year on year, the headcount went up by 172
(30 September 2012: 5,978), an increase of 2.9 per cent. As of 30
September 2013, the training ratio in Germany was 9.4 per cent, the
highest level of the past years.
Annual forecast concretised.
From the current perspective, Bechtle is confident that its revenue and
earnings position will outperform the prior year in the fourth quarter
as well. However, as the fourth quarter of 2012 was already very
successful, it is unlikely that we will be able to record growth rates
as high as those of the third quarter. Backed by the good reporting
quarter, the Executive Board believes that the fiscal year 2013 will
see a clear ‒ though single-digit ‒ increase in revenue and a
noticeable earnings growth. “Thus, we will again grow faster than the
market and profitably in our anniversary year 2013 as well. With our
business model, an efficient portfolio and highly motivated team
members, our positioning for the future is excellent,” says Dr. Thomas
Held Up Well in 2009
to 1.38 billion euros (-3.6 per cent): domestic service business and
sector have stabilising effect
64.3 per cent equity ratio and 95.0-million-euro liquidity reserve are
proposal 0.60 euros
development in the first weeks creates optimistic mood for 2010
Neckarsulm, 19 March 2010
- In 2009, Bechtle AG did well despite the difficult setting. In the
severe crisis after World War II, the IT service and trading enterprise
generated total revenues of 1,379.3 million euros (prior year: 1,431.5
million euros). The 2009 EBT exceeded general market expectations,
43.7 million euros (prior year: 61.5 million euros). At 3.2 per cent,
EBT margin remains at a level that is outstanding compared to the
average (prior year: 4.3 per cent). The earnings per share amounted to
1.64 euros, compared to 2.14 euros in the prior year. In view of the
excellent liquidity position, the Executive Board and the Supervisory
will propose the distribution of a dividend of 0.60 euros per share at
the Annual General Meeting to be held in June 2010.
"Thanks to the strong
closing quarter, the fiscal year turned out better than expected. With
a revenue loss of only 3.6 per cent, the Bechtle Group has done
well compared to the general market development in the industry. In
of our earnings, we were able to reduce the gap to the prior year from
quarter to quarter," says Dr. Thomas Olemotz, Spokesman of the
Board of Bechtle AG.
IT System House &
Managed Services Segment Reports Positive Business Performance in
the IT system house
& managed services segment, Bechtle generated revenues of 920.0
euros in 2009, only 0.8 per cent less than in the prior year (927.5
euros). Especially the business of the domestic system houses and the
in the public sector division had a stabilising effect. The IT system
& managed services revenue in Germany even increased slightly from
778.7 million euros to 779.3 million euros. The business with
clients surged by 32.8 per cent to 290.6 million euros (prior year:
million euros). This means a share of 21.1 per cent in the total
(prior year: 15.3 per cent).
In 2009, the EBIT in the
IT system house & managed services segment dropped by 33.0 per cent
to 25.8 million euros (prior year: 38.4 million euros). Accordingly,
EBIT margin declined from 4.1 per cent to 2.8 per cent. This was mainly
due to the weak revenue performance in comparison with the costs and
increase in personnel expenses.
Sights Set on Further
International Growth in the IT E-Commerce Segment
the IT e-commerce
segment, revenue totalled 459.4 in 2009, 8.8 per cent less year-on-year
(prior year: 503.9 million euros). In the reporting period, the price
continued especially in the field of hardware products, resulting in an
average price slump of about 12 per cent. Despite the considerable
in the quantity sold in some product groups, this price slump could not
be fully compensated. In the fiscal year 2009, the revenues of the
companies amounted to 317.1 million euros (prior year: 343.8 million
The domestic trading companies accounted for 142.3 million euros of the
revenue (prior year: 160.2 million euros).
In the reporting period,
the EBIT in the IT e-commerce segment receded from 21.8 million euros
16.9 million euros. Though the necessary headcount reduction resulted
cost savings, this only compensated part of the revenue decline. In
investments were made in the two new national markets Ireland and
moreover, preparations were made for the market entry of Bechtle direkt
in Poland and of Comsoft direct in Belgium. Thus, the EBIT margin in
trading segment fell from 4.3 per cent to 3.7 per cent.