Bechtle AG — Earnings Release 2006

Mar 28, 2007

News Details

Corporate | 28 March 2007 10:14

Bechtle tipped for further success: Increase in revenue and above-average growth in earnings

Bechtle AG / Final Results

Release of a Corporate-announcement, transmitted by DGAP - a company of
EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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Bechtle tipped for further success: Increase in revenue and above-average
growth in earnings

Revenue increased to 1.22 thousand million Euros, earnings before taxes
grew 11.4 per cent to a new record / improved EBT margin / further growth
expected for 2007

Stuttgart/Neckarsulm 28.03.2007 – The Bechtle AG reached a new all-time
high in revenue and EBT for the 2006 business year. The largest IT system
house increased its revenue by 3.6 per cent to 1.22 thousand million Euros
(previous year: 1.18 thousand million Euros). Therewith, revenue, in line
with the last published plan, lies at 1.2 thousand million Euros. The EBT
grew disproportionately high at 11.4 per cent, from 41.2 million Euros to
45.9 million Euros. Thus the plan of 42 million Euros could be clearly
exceeded after an outstanding final quarter. The EBT margin improved from
3.5 to 3.8 per cent. The profit after taxes was 30.7 million Euros, after
29.3 million Euros the previous year (plus 4.9 per cent). The earnings per
share increased by 4.9 per cent to 1.45 Euros (previous year: 1.38 Euros).
'We invested a lot of energy into implementing important structural changes
and strategic measures for the expansion of our market position in 2006.
The fact that we simultaneously attained growth above market level and
improved our profits shows just how strong Bechtle is', explained Ralf
Klenk, Chairman of Bechtle AG, at the presentation of the financial
statements in
Stuttgart.

The IT system house sector contributed 67.0 per cent to the total revenue.
The remaining 33.0 per cent came from the IT E-commerce sector. On
31.12.2006, Bechtle had 3,888 employees nation-wide across 9 countries
(previous year: 3,908).

Expansion Strategy in E-commerce

Bechtle could fund the reduced capital expenditure, from 26.8 million Euros
down to 22.4 million Euros, from their own resources. 9.5 million Euros
affected acquisitions; the left over capital expenditure includes the
planned replacement and expansion capital expenditure and the optimisation
of the inventory control system and the online trading-platform in order
to implement the international expansion strategy of the E-commerce
subsidiary, ARP. It is planned that ARP will enter the French market in
May. 'We are pursuing our multi-brand strategy in E-commerce. In the future
we want ARP to be present in all those countries in which ‘Bechtle direkt’
already has a strong presence', said Klenk.

Sound Financial and Assets Position

The cash and cash equivalents amounted to 39.4 million Euros at the end of
2006 (previous year: 51.9 million Euros). Besides capital expenditure,
liabilities repayments contributed to the funds outflow. The equity rose by
6.1 per
cent to 252.0 million Euros (previous year: 237.4 million Euros). The
Bechtle Group’s equity ratio improved from 57.4 per cent to 60.0 per cent.
'Our liquidity resources continue to be outstanding. Together with a free
credit line of 43.0 million Euros, we had as of the reference date 31
December a comfortable liquidity reserve
of 82.4 million Euros. This provides us with ample opportunity for further
growth', emphasised Klenk.

Continuity with Dividends

The Executive Board and the Supervisory Board will suggest a dividend of 50
cents per share at the annual general meeting on 21 June 2007. 'Since the
IPO in 2000, Bechtle has involved its shareholders in its business
successes. Our dividend yield is ranked among the best in TecDAX. This
makes our shares interesting to investors, regardless of price
development', said Klenk. From Bechtle AG’s dividend entitled assets of
21.2 million Euros, there is a distributed amount of 10.6 million Euros.
The distribution quota amounts to 34.6 per cent of the group profit.

Positive Expectations for 2007

This year, Bechtle has prioritised the complete establishment of strategic,
structural and organisational measures that were partly implemented in the
previous year. The Executive Board assumes that 2007 will hold continuing
positive revenue trends and growth in earnings. The revenue should increase
from 1.30 to 1.35 thousand million Euros. Bechtle expects an EBT of around
48 million Euros.

'We are prepared to set the course in the IT world of SMBs. I see the
chance not only to maintain our position as the leading IT partner of SMBs,
but to expand it through our focus on Managed Services and the take-over of
IT operations for the customer. I am convinced that there is no other
company that is as well suited for the challenges of the future as
Bechtle' said Ralf Klenk.

in th. Euros 2006 2005 Change
Revenue 1,220,138 1,178,269 + 3.6%
Domestic 815,876 784,169 + 4.0%
Abroad 404,262 394,100 + 2.6%
IT System house 816,998 811,042 + 0.7%
IT e-commerce 403,140 367,227 + 9.8%
EBITDA 60,186 53,121 + 13.3%
EBIT 45,730 41,195 + 11.0%
IT system house 22,597 18,607 + 21.4%
IT e-commerce 23,133 22,588 + 2.4%
EBT 45,859 41,172 + 11.4%
Earnings after taxes 30,725 29,286 + 4.9%
EPS (in euros) 1.45 1.38 + 4.9%
Equity ratio (in %) 60.0 57.4 + 4.6%
Workforce (31.12.) 3,888 3,908 - 0.5%

***

The 2006 business report can be downloaded at www.bechtle.com. We are happy
to send a printed german version on request.

Contact:
Bechtle AG
Martin Link
Investor Relations
Phone: +49 (0) 7132/981-4149
Fax: +49 (0) 7132/981-4116
martin.link@bechtle.com

DGAP 28.03.2007

Language: English
Issuer: Bechtle AG
Bechtle Platz 1
74172 Neckarsulm Deutschland
Phone: +49 (0)71 32/ 9 81-0
Fax: +49 (0)7132/ 9 81 - 80
E-mail: ir@bechtle.com
www: www.bechtle.com
ISIN: DE0005158703
WKN: 515870
Indices:
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin-Bremen, Hannover, Düsseldorf, Hamburg, München,
Stuttgart

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