Put companies on watchlist
Bechtle AG
ISIN: DE0005158703
WKN: 515870
About
Company Snapshot
New: Enable Investor Alerts
Be informed about new publications
New: AI Factsheet

Corporate News meets AI! 
Content analysis and summary

EN GIF 300X250

Bechtle AG · ISIN: DE0005158703 · EQS - Company News (41 News)
Country: Germany · Primary market: Germany · EQS NID: 1225633
12 August 2021 07:30AM

Bechtle: Business Performance Remains High


DGAP-News: Bechtle AG / Key word(s): Half Year Results/Interim Report
Bechtle: Business Performance Remains High

12.08.2021 / 07:30
The issuer is solely responsible for the content of this announcement.


Bechtle: Business Performance Remains High

- Revenue in Q2 up 9.3 per cent to €1.43 billion

- EBT grows almost 40 per cent

- Cash flow significantly above prior year

- Forecast increased

Neckarsulm, 12 August 2021 - Bechtle AG completed the second quarter of the 2021 fiscal year with very strong figures. Despite the global supply bottlenecks in the IT market and the ongoing restrictions due to the COVID-19 pandemic, the IT company was able to step up the revenue in the second quarter of 2021 by 9.3 per cent to €1,432.8 million. Earnings before taxes (EBT) underwent disproportionately high growth of 39.8 per cent to €81.2 million. The EBT margin thus improved to an outstanding 5.7 per cent. As of 30 June 2021, Bechtle had 12,421 employees, a year-on-year increase of 466.

EBT also included a positive one-time effect in the amount of €9.5 million. In previous quarters, Bechtle AG had recognised risk provisions, some of which the company was able to reverse in the second quarter. However, even without this effect, EBT would have grown by an excellent 23.5 per cent, with a margin of 5.0 per cent. "Despite the difficult framework conditions, we have continued to propel the business. Customer demand for powerful IT solutions and services remains high throughout all business segments," says Dr. Thomas Olemotz, Chairman of the Executive Board of Bechtle AG.


Extremely Positive Earnings Performance in System House Segment
From April to June 2021, Bechtle increased the revenue in the IT System House & Managed Services by 1.2 per cent to €904.3 million. This item was affected by the outstanding business performance in the corresponding prior-year quarter. Moreover, the supply bottlenecks had a more noticeable effect in this segment, especially where large framework agreements were concerned. It is encouraging that Bechtle was able to expand its service share, also driven by the surging demand from industrial customers. EBIT went up 33.3 per cent to €53.6 million. The EBIT margin rose from 4.5 per cent to 5.9 per cent. Without the said one-time effect, EBIT would have grown by 14.8 per cent, and the margin would have increased to 5.1 per cent.

E-Commerce Significantly Above Prior Year
In the second quarter of 2021, the revenue in the IT E-Commerce segment increased by 26.9 per cent to €528.5 million. Almost all companies contributed to this development with significant two-digit growth rates. France - the most prominent national market in this segment - also reported a very strong performance. EBIT climbed 50.1 per cent to €29.1 million. The margin improved from 4.6 per cent to 5.5 per cent. From a purely operational perspective, EBIT went up by 39.4 per cent, with a margin of 5.1 per cent.

Free Cash Flow Undergoes Positive Development
In the first half of 2021, the cash flow from operating activities increased to €47.3 million (prior year: €40.5 million). The free cash flow, too, underwent a positive development, increasing from -€31.6 million to €23.3 million. As of the reporting date, the total liquidity remained at a comfortable level of €286.6 million.


Annual Forecast Increased
Despite the difficult framework conditions in the IT market, Bechtle's performance in the first six months was very good. From an operating perspective, the revenue, earnings and margin as of the end of the first six months were already above the target corridor of our expectations for the year as a whole. The Executive Board has therefore raised its forecast for the year and now expects a very significant increase in earnings and a higher EBT margin than in the prior year. "Customers' willingness to invest is high. We can see this from the continuous two-digit increase in our incoming orders. On the other hand, however, we are faced with the known supply bottlenecks, which are likely to continue into the year 2022. Nevertheless, the outlook for Bechtle remains excellent," says Dr. Thomas Olemotz.

Bechtle KPIs for the Second Quarter and First Half of 2021

    Q2/2021 Q2/2020 +/- H1/2021 H1/2020 +/-
Revenue €k 1,432,793 1,310,516 +9.3% 2,942,995 2,666,190 +10.4%
Domestic €k 879,846 840,749 +4.7% 1,811,388 1,669,497 +8.5%
Abroad €k 552,947 469,767 +17.7% 1,131,607 996,693 +13.5%
IT System House €k 904,302 893,943 +1.2% 1,875,605 1,753,059 +7.0%
IT E-Commerce €k 528,491 416,573 +26.9% 1,067,390 913,131 +16.9%
EBIT €k 82,613 59,540 +38.8% 144,747 112,167 +29.0%
IT System House €k 53,551 40,173 +33.3% 94,617 72,662 +30.2%
IT E-Commerce €k 29,062 19,367 +50.1% 50,130 39,505 +26.9%
EBIT margin % 5.8 4.5   4.9 4.2  
EBT €k 81,191 58,059 +39.8% 142,179 109,114 +30.3%
EBT margin % 5.7 4.4   4.8 4.1  
Earnings after taxes €k 57,433 40,800 +40.8% 101,057 77,268 +30.8%
Earnings per share 1.37 0.97 +40.8% 2.41 1.84 +30.8%
Cash flow from operating activities1 €k 26,771 17,070 +56.8% 47,344 40,526 +16.8%
Employees (as of 30 June)   12,421 11,955 +3.9%
 

1 Prior year adjusted

    30.06.2021 31.12.2020 +/-
Liquidity* €k 286,617 403,173 -28.9%
Equity ratio % 45.7 43.2  
 

* Including time deposits and securities

***

The half-year report 2021 is available for download at bechtle.com/reports.

About Bechtle:
Bechtle AG has about 80 IT system houses in Germany, Austria and Switzerland. With its 24 e-commerce companies in 14 countries, Bechtle is one of Europe's leading IT enterprises. Founded in 1983, the group is headquartered in Neckarsulm, Germany, and currently has more than 12,000 employees. Bechtle offers its 70,000+ customers from the fields of industry and trade, the public sector and the financial market a comprehensive, cross-vendor portfolio of IT infrastructure and IT operation solutions. Bechtle is listed on the MDAX and TecDAX indexes. In 2020, its revenue amounted to €5.82 billion. For more information, see bechtle.com.

Contact

Investor Relations Corporate Communications/Press
Martin Link Sabine Brand
martin.link@bechtle.com sabine.brand@bechtle.com
Phone: +49 7132 981-4149 Phone: +49 7132 981-4115


12.08.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: Bechtle AG
Bechtle Platz 1
74172 Neckarsulm
Germany
Phone: +49 7132 981-0
Fax: +49 7132 981-8000
E-mail: ir@bechtle.com
Internet: bechtle.com
ISIN: DE0005158703
WKN: 515870
Indices: MDAX, TecDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1225633

 
End of News DGAP News Service

1225633  12.08.2021 

fncls.ssp?fn=show_t_gif&application_id=1225633&application_name=news&site_id=boersengefluester_html
Visual performance / price development - Bechtle AG
Smart analysis and research tools can be found here.

This publication was provided by our content partner EQS3.

EQS Newswire
via EQS - Newsfeed
EQS Group AG ©2024
(DGAP)
Contact:
Karlstraße 47 D-80333 München
+49 (0) 89 444 430-000

 

SMART * AD
EN GIF 970X250

P R O D U C T   S U G G E S T I O N S

The information presented here has been provided by our content partner EQS-Group. The originator of the news is the respective issuer, the company relating to the news, a publication service provider (press or information agency) which uses the distribution service of EQS to transmit company news to shareholders, investors, investors or interested parties. The original publications and other company-relevant information can be found at eqs-news.com.


The information you can access does not constitute investment advice. The presentation of our cooperation partners, where the implementation of investment decisions would be possible depending on the individual risk profile, is solely at the discretion of the person using the service. We only present companies of which we are convinced that the range of services and customer service will satisfy discerning investors.

If you are considering leverage products, familiarise yourself with the typical characteristics of the financial instruments beforehand. Take the time to determine the risk content of the planned investment before making an investment decision. Bear in mind that a total loss cannot be ruled out with leverage products.

For newcomers to the subject, we offer various options in both the training and the tools section, through which you can train theoretical knowledge and practical experience and thus improve your skills. The offer ranges from participation in webinars to personal mentoring. The range is continuously being expanded.


1 Lab features are usually functionalities that emerge from the think tank of the investor community. In the early stages, these are experimental functionalities whose development process is largely determined by use and the resulting feedback from the community. When integrating external services or functionalities, the functionality can only be guaranteed to the extent that the individual process elements, such as interfaces, interact with each other.