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09.08.2019 07:30:07

DGAP-News: Bechtle Keeps up Growth in Q2

DGAP-News: Bechtle AG / Key word(s): Half Year Results/Quarter Results
Bechtle Keeps up Growth in Q2

09.08.2019 / 07:30
The issuer is solely responsible for the content of this announcement.


Bechtle Keeps up Growth in Q2
 

- Revenue up 30.7 per cent to EUR1.26 billion

- EBIT grows 30.0 per cent

- Outlook for the year remains positive
 

Neckarsulm, 9 August 2019 - Despite the more difficult basic conditions, the high growth rate that Bechtle AG had exhibited since the beginning of the year further increased in the second quarter. From April to June 2019, the revenue went up 30.7 per cent to EUR1.26 billion. Earnings before interest and taxes (EBIT) improved by 30.0 per cent to EUR57.1 million. Earnings before taxes (EBT) amounted to EUR55.7 million, and the EBT margin went down only slightly year-on-year from 4.5 per cent to 4.4 per cent. As of 30 June 2019, Bechtle had a total of 10,915 employees, 2,125 or 24.2 per cent more than in the previous year.

Organically, Bechtle was able to increase its revenue in the period from April to June 2019 by 16.9 per cent. The organic growth was especially strong in Germany, going up 18.3 per cent. "Our performance was again extremely good in the second quarter. We are particularly pleased to see that all countries and both segments alike contributed to this growth. Especially in view of the deteriorated economic conditions, our results deliver compelling evidence of our competitive strength", explains Dr. Thomas Olemotz, Chairman of the Executive Board of Bechtle AG.

System House & Managed Services Report Growth in All Areas
In the IT System House & Managed Services segment, the revenue climbed 20.4 per cent to EUR814.8 million. The IT system houses in Austria and Switzerland recorded growth of 18.1 per cent. In Germany, revenue even increased to 20.8 per cent. The organic growth amounted to 17.2 per cent. Impulses came especially from the fields of cloud services and managed services as well as from the conventional system house business. In the second quarter of 2019, EBIT climbed 19.2 per cent to EUR34.3 million. At 4.2 per cent, the EBIT margin remained at the prior-year level.

Improved Adjusted Margin in E-Commerce
The IT E-Commerce segment stepped up its revenue in the second quarter of 2019 by 54.8 per cent to EUR446 million. Owing to acquisitions, the growth rate was especially high abroad, reaching 64.1 per cent. Organically, our companies in Germany, Italy, the Netherlands, Spain and the UK in particular underwent above-average growth. Segment EBIT increased by a remarkable 50.5 per cent to EUR22.8 million. Though the reported margin dropped slightly from 5.3 to 5.1 per cent due to burdening effects from the purchase price allocation of Inmac WStore in France, it would have amounted to 5.5 per cent without these effects, a figure above that of the prior year.

EBT Impacted by Positive One-Time Effect
In the second quarter of 2019, other operating income totalled EUR11.3 million, considerably more than in the prior year (EUR2.1 million). The main reasons for this growth were the higher bonus payments of vendors and distributors and a positive one-time effect amounting to EUR4.4 million. Adjusted for the negative effects from purchase price allocations and without the positive one-time effect, the operating-only margin would have amounted to 4.3 per cent.

Optimistic Outlook for the Year Confirmed
Against the backdrop of the excellent performance in the first half of the year, the Executive Board remains highly confident with regard to the remaining months of the fiscal year. "Despite the macroeconomic slowdown, we are convinced that we will reach the goals we have adopted for the year. Supported by the very strong first half of the year, we expect our revenue and earnings performance to very significantly exceed the prior year", says Dr. Thomas Olemotz.

Bechtle KPIs for the Second Quarter and First Half of 2019
 

    Q2/2019 Q2/2018 +/- H1/2019 H1/2018 +/-
Revenue EURk 1,260,804 964,970 +30.7% 2,500,752 1,920,359 +30.2%
  Domestic EURk 797,727 657,004 +21.4% 1,546,806 1,310,737 +18.0%
  Abroad EURk 463,077 307,966 +50.4% 953,946 609,622 +56.5%
  IT System House EURk 814,834 676,794 +20.4% 1,597,053 1,334,976 +19.6%
  IT E-Commerce EURk 445,970 288,176 +54.8% 903,699 585,383 +54.4%
EBIT EURk 57,059 43,900 +30.0% 103,337 79,618 +29.8%
  IT System House EURk 34,271 28,755 +19.2% 60,641 52,827 +14.8%
  IT E-Commerce EURk 22,788 15,145 +50.5% 42,696 26,791 +59.4%
EBIT margin % 4.5 4.5   4.1 4.1  
EBT EURk 55,708 43,560 +27.9% 100,714 78,960 +27.6%
EBT margin % 4.4 4.5   4.0 4.1  
Earnings after taxes EURk 39,193 30,704 +27.6% 70,870 55,553 +27.6%
Earnings per share EUR 0.93 0.73 +27.6% 1.69 1.32 +27.6%
Cash flow from operating activities EURk 7,584 -6,586   -14,528 7,353  
Employees (as of 30 June)   10,915 8,790 +24.2%
 
    30.06.2019 31.12.2018 +/-
Liquidity1 EURk 118,378 250,922 -52.8%
Equity ratio % 42.7 43.6  
 

1 including time deposits and securities

                                                                   ***


The interim report 2019 is available for download at bechtle.com/reports.


About Bechtle
Bechtle AG is one of Europe's leading IT providers, with some 70 systems integrators in Germany, Austria and Switzerland as well as e-commerce subsidiaries in 14 European countries. Founded in 1983, the company is headquartered in the southern German town of Neckarsulm and currently employs some 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 Bechtle Group generated revenues of approximately 4.3 billion euros.
Learn 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
 

 



09.08.2019 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: 854533

 
End of News DGAP News Service

854533  09.08.2019 

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