DGAP-News: Bechtle AG headed towards new record with substantial growth in revenue and earnings
(firmenpresse) - DGAP-News: Bechtle AG / Key word(s): Half Year Results/Quarter Results
Bechtle AG headed towards new record with substantial growth in
revenue and earnings
10.08.2011 / 07:29
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Bechtle AG headed towards new record with substantial growth in revenue and
earnings
- Revenue up 21.9 per cent to 457.0 million euros
- EBT grows by 80.9 per cent to 19.9 million euros
- Executive Board targets record revenue of 2 billion euros in 2011
- Margin improvement expected compared to prior year
Neckarsulm, 10 August 2011 - In the second quarter of 2011, Bechtle AG
again achieved substantial revenue and earnings growth. From April to June
2011, the group revenues surged by 21.9 per cent to 457.0 million euros
(prior year: 375.0 million euros). With its EBT of 19.9 million euros, the
group surpassed the prior year by 80.9 per cent (11.0 million euros). The
EBT margin underwent a significant improvement from 2.9 per cent to 4.4 per
cent. Earnings per share increased by 74.0 per cent to 0.69 euros, compared
to 0.40 euros in the prior year.
'Bechtle has experienced an exceptionally strong first six-month period. We
achieved far better growth than the market in general, and we further
improved our profitability. At the same time, we are making excellent
progress in the strategic positioning as IT solution provider', says Dr.
Thomas Olemotz, CEO of Bechtle AG.
System houses expand market position
In the quarter under review, the Bechtle Group generated revenues of 294.7
million euros (prior year: 243.7 million euros), a growth of 20.9 per cent.
In this segment, Bechtle benefits from its customers' ongoing willingness
to invest and a strong competitive position on the IT market. Moreover, the
acquisitions of the prior year had a positive effect. Organically, the
revenue amounted to 280.8 million euros, 15.2 per cent more than in the
prior year. In the second quarter, EBIT increased by 88.0 per cent to 11.0
million euros (prior year: 5.8 million euros). This was due to the
disproportionately low increase in material and functional costs in this
segment. The EBIT margin climbed from 2.4 per cent to 3.7 per cent.
E-commerce with significantly improved profitability
In the period under review, the IT e-commerce segment grew by 23.6 per
cent. Revenues went up from 131.3 million euros to 162.3 million euros. The
stronger demand for hardware and standard software, which had already been
evident in the prior quarters, continued in the second quarter. The
domestic and foreign trading companies accounted for almost equal shares of
the growth. The segment EBIT amounted to 8.7 million euros, a remarkable
increase of 80.5 per cent over the prior year (4.8 million euros). The
margin thus went up sharply from 3.7 per cent to 5.3 per cent.
Sound asset and financial structure
Though the cash and cash equivalents including time deposits and securities
dropped due to the dividend payments and the acquisitions, they remained at
a comfortable level of 109.5 million euros (31 December 2010: 129.8 million
euros). As of 30 June 2011, the equity increased from 371.5 million euros
to 383.9 million euros. Accordingly, the equity ratio improved from 56.8
per cent to 59.0 per cent. The annualized return on equity increased from
9.9 per cent in the prior year to 15.8 per cent. In the first half of the
year, the cash flow from operating activities amounted to 9.1 million
euros, compared to 7.6 million euros in the prior year.
Another record year in sight
The Executive Board expects the positive economic development to persist.
However, as the results of the prior year were already strong and economic
dynamics are fading, the growth rates will most likely decrease in the
course of the year. Nevertheless, the management believes that group
revenues will increase by at least 15 per cent to about 2 billion euros in
2011. At the same time, the profitability in 2011 is to improve compared to
the prior year. 'In view of the continually high incoming order volume at
the beginning of the third quarter, I am confident that Bechtle will again
achieve record revenues and earnings, provided that the positive
development of the economic framework conditions will continue in the
second half of the year. Moreover, we are intensively examining the further
expansion in Europe and the development of the IT solution business. Our
objective is to keep up our profitable growth above market level,' explains
Dr. Thomas Olemotz.
Bechtle KPIs for the second quarter and the first half of 2011
Q2/2011 Q2/2010 +/- H1/2011 H1/2010 +/-
Revenue thou. euros 457,031 374,977 21.9% 913,138 729,735 25.1%
Domestic thou. euros 288,038 244,707 17.7% 585,035 475,475 23.0%
Abroad thou. euros 168,993 130,270 29.7% 328,103 254,260 29.0%
IT-SH&MS thou. euros 294,741 243,716 20.9% 590,521 471,673 25.2%
IT-EC thou. euros 162,290 131,261 23.6% 322,617 258,062 25.0%
EBIT thou. euros 19,644 10,640 84.6% 37,491 20,534 82.6%
IT-SH&MS thou. euros 10,980 5,841 88.0% 21,106 10,449 102.0%
IT-EC thou. euros 8,664 4,799 80.5% 16,385 10,085 62.5%
EBT thou. euros 19,940 11,020 80.9% 38,036 21,265 78.9%
EBT margin % 4.4 2.9 4.2 2.9
EAT thou. euros 14,482 8,321 74.0% 27,657 15,908 73.9%
EPS euros 0.69 0.40 74.0% 1.32 0.76 73.9%
OCF thou. euros 3,276 -9,029 --- 9,097 7,556 20.4%
30.06.2011 31.12.2010 +/-*Including time deposits and securities
Liquidity* thou. euros 109,530 129,750 -15.6%
Equity ratio % 59.0 56.8
Employees 5,139 4,766 7.8%
***
The interim financial report for the second quarter of 2011 is available
for download at www.bechtle.com/reports.
About Bechtle:
Bechtle operates more than 60 IT system houses in Germany, Austria and
Switzerland and is a leading IT e-commerce provider with trading companies
in 13 countries throughout Europe. Founded in 1983, the company is
headquartered in Neckarsulm, Germany, and currently has more than 5,000
employees. Bechtle offers its more than 56,000 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 has been quoted at the stock exchange since 2000 and has
been listed in the TecDAX technology index since 2004.
Contact:
Bechtle AG
Investor Relations
Thomas Fritsche
Tel: +49 7132/981-4121
Martin Link
Tel: +49 7132/981-4149
Fax: +49 7132/981-4116
ir(at)bechtle.com
End of Corporate News
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Language: EnglishCompany: Bechtle AG
Bechtle Platz 1
74172 Neckarsulm
Germany
Phone: +49 (0)71 32/ 9 81-0
Fax: +49 (0)7132/ 9 81 - 8000
E-mail: ir(at)bechtle.com
Internet: www.bechtle.com
ISIN: DE0005158703
WKN: 515870
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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134481 10.08.2011Unternehmensinformation / Kurzprofil:
Datum: 10.08.2011 - 07:29 Uhr
Sprache: Deutsch
News-ID 44286
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