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Bechtle AG — Earnings Release 2015
Aug 7, 2015
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Earnings Release
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Corporate | 7 August 2015 07:30
Bechtle AG: Bechtle Reports Two-Digit Growth in Revenue and Earnings
Bechtle AG / Key word(s): Quarter Results/Half Year Results
2015-08-07 / 07:30
Bechtle Reports Two-Digit Growth in Revenue and Earnings
– Dynamic growth: Revenue up 13.6 per cent
– Higher profitability: EBT increases 15.5 per cent
– Executive Board reinforces forecast for 2015 as a whole
Neckarsulm, 7 August 2015 – In the second quarter of 2015, Bechtle AG significantly stepped up its growth dynamics compared to the prior quarter. In the period from April to June, revenue grew 13.6 per cent to EUR686.1 million. With a revenue increase of 16.4 per cent, the domestic companies were the main growth driver. Earnings before interest and taxes (EBIT) increased 14.2 per cent to EUR26.7 million. Like the EBIT, the EBT amounted to EUR26.7 million, 15.5 per cent more than in the prior year. As of 30 June 2015, Bechtle had a total of 6,938 employees, 545 (8.5 per cent) more than in the prior year.
“Bechtle picked up considerably in the second quarter. In view of the excellent prior-year quarter, the revenue and earnings growth rates of both segments were remarkable. We performed very well especially in Germany”, explains Dr. Thomas Olemotz, Chairman of the Executive Board of Bechtle AG.
System House & Managed Services Segment Grows Above Average
The IT system house & managed services segment increased its revenue 16.1 per cent to EUR451.5 million (prior year: EUR388.8 million). The performance of the domestic system houses, which achieved growth of 17.0 per cent to EUR407.0 million, was especially impressive. The Austrian and Swiss companies also underwent significant growth of 8.5 per cent to EUR44.6 million. In the second quarter of 2015, the segment EBIT went up 6.3 per cent to EUR13.8 million (prior year: EUR13.0 million). The EBIT margin of 3.1 per cent is nearly equivalent to that of the prior year.
IT E-Commerce Especially Strong in Germany
In the reporting period, the revenue in the IT e-commerce segment climbed 9.2 per cent to EUR234.5 million. The increase of the domestic e-commerce companies was especially high. They boosted their revenues by 12.6 per cent to EUR62.7 million. The international companies recorded fine growth of 8.0 per cent to EUR171.8 million. Almost all international markets of the Bechtle Group contributed to this increase. Year on year, EBIT increased 24.2 per cent to EUR12.9 million. The margin improved from 4.8 per cent to 5.5 per cent.
Balance Sheet Underlines Financial Stability
As of 30 June, cash and cash equivalents including time deposits and securities amounted to a comfortable EUR136.3 million. Bechtle’s liquidity is still higher than the sum of its financial liabilities. The group’s net debt remains negative at EUR62.9 million, i.e. Bechtle is free of debt. The equity ratio improved from 54.5 per cent to 55.7 per cent. The extrapolated return on equity reached an excellent value of 13.1 per cent, as in the prior year.
Headcount Grows Moderately
As of the reporting date 30 June 2015, the Bechtle Group had a total of 6,938 employees, including 389 trainees. This represents a year-on-year increase of 545 employees, i.e. 8.5 per cent. In July, Best Recruiters awarded the gold label as best employer of the IT industry to Bechtle for the second time in a row. In its HR work, Bechtle will continue to focus on training. The success is evident particularly from the high demand for training posts at Bechtle.
Forecast for the Year Reinforced
Bechtle is still confident that its revenue and earnings will outperform the prior year in 2015 as a whole. “Following a good first quarter, the excellent figures of the second quarter have carried us for the first half year to the top end of the target range of our expectations for 2015. Provided that the positive economic framework conditions persist, all signs are currently indicating another record year”, says Dr. Thomas Olemotz.
Bechtle KPIs for the Second Quarter and First Half of 2015
| Q2/2015 | Q2/2014 | +/- | H1/2015 | H1/2014 | +/- | ||
| Revenue | EURk | 686,062 | 603,676 | +13.6% | 1,308,512 | 1,190,372 | +9.9% |
| Domestic | EURk | 469,686 | 403,466 | +16.4% | 879,913 | 798,764 | +10.2% |
| Abroad | EURk | 216,376 | 200,210 | +8.1% | 428,599 | 391,608 | +9.4% |
| IT system house | EURk | 451,543 | 388,826 | +16.1% | 854,169 | 775,266 | +10.2% |
| IT e-commerce | EURk | 234,519 | 214,850 | +9.2% | 454,343 | 415,106 | +9.5% |
| EBITDA | EURk | 33,294 | 29,149 | +14.2% | 61,827 | 55,786 | +10.8% |
| IT system house | EURk | 19,506 | 17,727 | +10.0% | 40,529 | 35,896 | +12.9% |
| IT e-commerce | EURk | 13,788 | 11,422 | +20.7% | 21,298 | 19,890 | +7.1% |
| EBIT | EURk | 26,667 | 23,342 | +14.2% | 49,168 | 44,503 | +10.5% |
| IT system house | EURk | 13,784 | 12,972 | +6.3% | 30,312 | 26,640 | +13.8% |
| IT e-commerce | EURk | 12,883 | 10,370 | +24.2% | 18,856 | 17,863 | +5.6% |
| EBIT margin | % | 3.9 | 3.9 | 3.8 | 3.7 | ||
| EBT | EURk | 26,681 | 23,103 | +15.5% | 49,156 | 43,935 | +11.9% |
| EBT margin | % | 3.9 | 3.8 | 3.8 | 3.7 | ||
| Earnings after taxes | EURk | 18,720 | 16,422 | +14.0% | 34,454 | 31,224 | +10.3% |
| Earnings per share | EUR | 0.89 | 0.79 | +14.0% | 1.64 | 1.49 | +10.3% |
| Cash flow from operating activities | EURk | 16,690 | -3,952 | 17,080 | -876 | ||
| Number of employees (average) | 6,869 | 6,387 | +7.5% | 6,741 | 6,343 | +6.3% |
| 30.06.2015 | 31.12.2014 | +/- | ||
| Liquidity 1 | EURk | 136,320 | 156,000 | -12.6% |
| Equity ratio | % | 55.7 | 54.5 | |
| Employees | 6,938 | 6,572 | +5.6% |
1 including time deposits and securities
***
The interim financial report for the second quarter of 2015 is available for download at bechtle.com/reports. Printed copies are available upon request.
About Bechtle
As a one-stop IT provider, Bechtle AG is active with over 65 system houses in Germany, Austria and Switzerland and is one of Europe’s leading online dealers for information technology, with subsidiaries in 14 countries. This combination forms the basis of Bechtle’s trend-setting business model, which links IT services to the conventional marketing of IT products. Established in 1983 and headquartered in Neckarsulm, Germany, the company offers a one-stop, vendor-independent, comprehensive IT portfolio to its more than 75,000 customers from the fields of industry and trade, the public sector and the financial industry. Bechtle has been quoted at the stock exchange since 2000 and has been listed in the TecDAX technology index since 2004. In the fiscal year 2014, the group generated revenues of approximately EUR2.6 billion.
Contact
Bechtle AG
Bechtle Platz 1
D-74172 Neckarsulm
Germany
Investor Relations Corporate Communications/Press
Martin Link Sabine Brand
[email protected] [email protected]
Tel: +49 7132 981-4149 Tel: +49 7132 981-4115
Fax: +49 7132 981-4116 Fax: +49 7132 981-4116
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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: | [email protected] |
| Internet: | bechtle.com |
| ISIN: | DE0005158703 |
| WKN: | 515870 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart |
| End of News | DGAP News-Service |
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| 384157 2015-08-07 |