DGAP-News: Bechtle Again Reports Two-Digit Growth
DGAP-News: Bechtle AG
/ Key word(s): Quarterly / Interim Statement/Quarter Results
Bechtle Again Reports Two-Digit Growth
13.11.2019 / 07:29
The issuer is solely responsible for the content of this announcement.
Bechtle Again Reports Two-Digit Growth
- Q3: Revenue up 21.6 per cent to EUR1.3 billion
- EBT grows 23.6 per cent, improved margin
- Market position further expanded
Neckarsulm, 13 November 2019 - For the third quarter of 2019, Bechtle AG has again reported very strong growth. From July to September 2019, the revenue went up 21.6 per cent to EUR1.3 billion. Earnings before interest and taxes (EBIT) improved by 25.6 per cent to EUR58.4 million. Earnings before taxes (EBT) amounted to EUR57.0 million, and the EBT margin underwent a year-on-year improvement from 4.4 per cent to 4.5 per cent. As of 30 September 2019, Bechtle had a total of 11,246 employees, some 1,595 or 16.5 per cent more than in the prior year.
Organically, Bechtle's growth in the third quarter of 2019 increased 12.3 per cent. Organic growth was especially strong abroad, going up 16.5 per cent. In Germany, too, the organic growth underwent double-digit growth of 10.3 per cent. "Bechtle has concluded the third quarter in a row with impressive revenue and earnings growth. This shows the great willingness of our customers to invest. Moreover, it demonstrates the strong market position of the Bechtle Group as a competent IT partner for tomorrow", says Dr. Thomas Olemotz, Chairman of the Executive Board of Bechtle AG.System House & Managed Services Undergoes Margin Leap
In the IT System House & Management Services segment, the revenue increased 17.3 per cent to EUR837.1 million. The IT system houses in Austria and Switzerland recorded growth of 27.7 per cent. In Germany, the revenue growth amounted to 15.8 per cent. The organic growth in this segment was 13.5 per cent. Impulses came especially from the fields of application solutions, cloud services and managed services as well as CAD. In the third quarter of 2019, EBIT increased 29.5 per cent to EUR40.1 million. The EBIT margin climbed from 4.3 per cent to 4.8 per cent.E-Commerce Continues to Exhibit Strong Growth
Revenue in the IT E-Commerce segment increased 30.7 per cent to EUR439.2 million in the third quarter of 2019. The organic growth amounted to an excellent 9.9 per cent. In the third quarter, almost all national subsidiaries exhibited double-digit growth. Segment EBIT increased 18.0 per cent to EUR18.3 million. Due to encumbrances from the purchase price allocation of Inmac WStore, the margin dropped from 4.6 per cent to 4.2 per cent. Without these effects, this figure would have dropped from 4.8 per cent to 4.6 per cent.Robust Key Financials
In the third quarter of 2019, the cash flow from operating activities increased 52.1 per cent, reaching EUR53.3 million. A greater reduction of trade receivables was one of the factors that contributed to this positive result. Bechtle's good debt ratio of 125 per cent is also reflected in the equity ratio of 44.5 per cent.Bechtle Expects Record Year
Bechtle has confirmed its plants to boost the revenue and earnings in the fiscal year 2019 by a double-digit rate. In view of the good performance in the first nine month, the Executive Board is optimistic about the upcoming year-end business will be good as well. "Bechtle has performed extremely well and has not been affected by the macroeconomic tension so far. Against the backdrop of the strong YTD performance, we expect 2019 to become another record year", says Dr. Thomas Olemotz.
Bechtle KPIs for the Third Quarter and Nine-Month Period of 2019
Q3/2019
Q3/2018
+/-
9M/2019
9M/2018
+/-
Revenue
EURk
1,276,305
1,049,555
+21.6%
3,777,057
2,969,914
+27.2%
Domestic
EURk
804,664
707,680
+13.7%
2,351,470
2,018,417
+16.5%
Abroad
EURk
471,641
341,875
+38.0%
1,425,587
951,497
+49.8%
IT System House
EURk
837,069
713,568
+17.3%
2,434,122
2,048,544
+18.8%
IT E-Commerce
EURk
439,236
335,987
+30.7%
1,342,935
921,370
+45.8%
EBIT
EURk
58,363
46,457
+25.6%
161,700
126,075
+28.3%
IT System House
EURk
40,050
30,935
+29.5%
100,691
83,762
+20.2%
IT E-Commerce
EURk
18,313
15,522
+18.0%
61,009
42,313
+44.2%
EBIT margin
%
4.6
4.4
4.3
4.2
EBT
EURk
57,027
46,128
+23.6%
157,741
125,088
+26.1%
EBT margin
%
4.5
4.4
4.2
4.2
Earnings after taxes
EURk
40,217
32,488
+23.8%
111,087
88,041
+26.2%
Earnings per share
EUR
0.96
0.77
+23.8%
2.64
2.10
+26.2%
Cash flow from operating activities
EURk
53,273
35,021
+52.1%
38,745
42,374
-8.6%
Employees (as of 30 September)
11,246
9,651
+16.5%
30.09.2019
31.12.2018
+/-
Liquidity1
EURk
154,858
250,922
-38.3%
Equity ratio
%
44.5
43.6
1including time deposits and securities
***
The quarterly statement for the third quarter of 2019 is available for download at bechtle.com/reports.
About Bechtle
Bechtle AG is one of Europe's leading IT providers, with 75 systems integrators in Germany, Austria and Switzerland as well as 24 e-commerce subsidiaries in 14 European countries. Founded in 1983, the company is headquartered in the southern German town of Neckarsulm and currently employs over 11,000 people. Bechtle provides more than 70,000 customers from the industrial, trade, financial and public sectors with a comprehensive, vendor-neutral portfolio that covers all aspects of IT infrastructure and operation. Bechtle is listed on the MDAX and TecDAX indexes. In 2018, the company generated revenues of around 4.3 billion euros. Read more at: 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
13.11.2019 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:
910465
End of News
DGAP News Service
910465 13.11.2019