DGAP-News: Bechtle AG
/ Key word(s): Quarterly / Interim Statement/9 Month figures
Bechtle Again Reports Noticeable Growth in Q3
11.11.2021 / 07:29
The issuer is solely responsible for the content of this announcement.
Bechtle Again Reports Noticeable Growth in Q3
- Revenue up 9.1 per cent to ?1.49 billion
- EBT grows 21.4 per cent
- Executive Board confirms forecast
Neckarsulm, 11 November 2021 - Despite the ongoing global supply bottlenecks, Bechtle AG again recorded considerable revenue and earnings growth in the third quarter of 2021. Revenue increased 9.1 per cent to ?1,496.1 million, a high growth level similar to that of the prior year. Earnings before taxes (EBT) underwent disproportionately high growth of 21.4 per cent to ?87.0 million. The EBT margin thus improved from 5.2 per cent to 5.8 per cent. As of 30 September 2021, Bechtle had 12,744 employees, 689 more than in the prior year.
Organically, the revenue growth amounted to 8.9 per cent. The EBT performance is largely operations-based. Additionally, there were positive special effects, e.g. from the sale of a group company. "The demand for IT solutions remains high, their availability in the current market situation is a decisive factor. The ability to supply has thus become a key competitive advantage. For this reason, we stepped up our stock levels at an early stage. In this context, we benefit both from our financial strength and from our excellent business relationships with manufacturers and distributors," explains Dr. Thomas Olemotz, Chairman of the Executive Board of Bechtle AG.
Continued Positive Earnings Performance in System House Segment
From July to September 2021, Bechtle increased the revenue in the IT System House & Managed Services segment by 2.1 per cent to ?937.2 million. Larger framework agreements, in particular, were affected more severely by the supply shortages. EBIT climbed by 23.3 per cent to ?61.7 million, driven by the said special effects and a good project business performance. Accordingly, the EBIT margin went up from 5.5 per cent to 6.6 per cent.
E-Commerce Records Substantial Revenue Growth
In the IT E-Commerce segment, the revenue in the third quarter of 2021 went up by 23.4 per cent to ?558.8 million. Apart from Germany, especially the companies in France, Benelux and the UK contributed to this growth. EBIT went up 14.6 per cent to ?26.7 million. The EBIT margin was 4.8 per cent, after 5.1 per cent in the prior year. This development was mainly driven by the rebounding share of high-volume business.
New Record Number of Trainees
At 5.7 per cent, the headcount increase as of 30 September 2021 was again slightly more dynamic than it had been in the prior quarter. The number of apprentices and students on integrated degree programmes was especially remarkable. As of 30 September 2021, Bechtle had 709 young trainees, including 244 who had embarked on their training on 1 September, more than ever before.
Forecast for the Year Confirmed
Despite the continued difficult framework conditions, Bechtle AG performed very well in the first nine months of the current fiscal year. Revenue, earnings and margin are within the target corridor of our expectations for the year as a whole, which we had increased as of the end of the second quarter. Therefore, the Executive Board confirms the forecast for the year, which predicts significant revenue growth, very significant earnings growth and a EBT margin higher than in the prior year. "Our business model has proved especially successful in these challenging times. Despite the ongoing supply bottlenecks, our outlook for the future continues to be very bright," says Dr. Thomas Olemotz.
Bechtle KPIs for the Third Quarter and Nine-Month Period of 2021
Q3/2021
Q3/2020
+/-
9M/2021
9M/2020
+/-
Revenue
?k
1,496,092
1,370,856
+9.1%
4,439,087
4,037,046
+10.0%
Domestic
?k
938,876
876,538
+7.1%
2,750,264
2,546,035
+8.0%
Abroad
?k
557,216
494,318
+12.7%
1,688,823
1,491,011
+13.3%
IT System House
?k
937,249
917,897
+2.1%
2,812,854
2,670,956
+5.3%
IT E-Commerce
?k
558,843
452,959
+23.4%
1,626,233
1,366,090
+19.0%
EBIT
?k
88,425
73,342
+20.6%
233,172
185,509
+25.7%
IT System House
?k
61,711
50,036
+23.3%
156,328
122,698
+27.4%
IT E-Commerce
?k
26,714
23,306
+14.6%
76,844
62,811
+22.3%
EBIT margin
%
5.9
5.4
5.3
4.6
EBT
?k
87,028
71,673
+21.4%
229,207
180,787
+26.8%
EBT margin
%
5.8
5.2
5.2
4.5
Earnings after taxes
?k
62,731
50,757
+23.6%
163,788
128,025
+27.9%
Earnings per share
?
0.50
0.401
+23.6%
1.30
1.021
+27.9%
Cash flow from operating activities
?k
-21,541
132,731
-116.2%
25,803
173,2572
-85.1%
Employees
(as of 30 September)
12,744
12,055
+5.7%
1 Adapted to share split 2 Prior year adjusted
30.09.2021
31.12.2020
+/-
Liquidity3
?k
230,409
403,173
-42.9%
Equity ratio
%
46.8
43.2
3 Including time deposits and securities
***
The statement for the third quarter of 2021 is available for download at www.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 in the MDAX and TecDAX indexes. In 2020, the company's revenue amounted to approximately ?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
11.11.2021 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.
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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
Bechtle AG is a Germany-based provider of information technology (IT) systems and technology. The Company operates through two segments: IT System House and Managed Services, and IT E-Commerce. The IT System House and Managed Services segment comprises the sale of hardware, software and applications, as well as project planning and roll-out, system integration, maintenance and training, the provision of cloud services and the operation of customer IT. The IT E-Commerce segment focuses on marketing hardware and standard software through the Internet and telesales under the Bechtle direct and ARP brands, as well as providing software asset management services under the Comsoft brand. The Company through subsidiaries across Europe and through a network of partners in the Americas, Africa, Asia and Australia.