DGAP-News: Bechtle AG posts new record results in 2011
(firmenpresse) - DGAP-News: Bechtle AG / Key word(s): Final Results
Bechtle AG posts new record results in 2011
15.03.2012 / 10:30
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Bechtle AG posts new record results in 2011
- Revenue grows by 16 per cent to 2 billion euros
- EBT reaches 86.3 million euros, 40 per cent above prior year
- Distribution including special dividend climbs to 1.00 euro
Neckarsulm, 15 March 2012 - In the fiscal year 2011, Bechtle AG generated
record revenues of 2 billion euros. Revenues increased by 15.8 per cent
from 1,722.9 million euros in the prior year to 1,994.8 million euros in
the reporting period. EBT climbed by 39.7 per cent to 86.3 million euros.
Compared to the industry average, the EBT margin reached an excellent 4.3
per cent (prior year: 3.6 per cent). Earnings per share increased by 35.1
per cent to 2.99 euros, compared to 2.21 euros in the prior year. In line
with the positive business performance, the dividend, too, is to be
increased substantially from 0.75 euros in the prior year to 1.00 euro for
the fiscal year 2011.
'For us, 2011 was an excellent year. We not only reached our ambitious
revenue target, we also managed to boost our earnings at a
disproportionately high rate despite extensive investments in the future -
a truly remarkable teamwork feat by Bechtle's 5,500 employees,' says Dr.
Thomas Olemotz, Chairman of the Executive Board of Bechtle AG.
Qualifications in system house segment are bearing fruit
In 2011, the group generated revenues of 1,315.7 million euros (prior year:
1,151.1 million euros) in the IT system house&managed services segment,
an increase of 14.3 per cent. The segment benefited from the sound economic
development, which had a positive impact on the product and solution
business. Moreover, the good competitive position, the extensive
qualification measures and the productivity increase yielded positive
results. Organically, the revenue in this segment amounted to 1,265.0
million euros, 9.9 per cent more than in the prior year. The segment EBIT
increased by 39.2 per cent to 49.9 million euros (prior year: 35.9 million
euros). Thus, the prior-year figure was greatly exceeded. This was mainly
due to the higher gross profit. Accordingly, the EBIT margin improved from
3.1 per cent to 3.8 per cent.
Excellent profitability in trading business
In 2011, the revenue in the IT e-commerce segment increased by 18.8 per
cent to 679.2 million euros (prior year: 571.8 million euros), a result
obtained exclusively from organic growth. All international subsidiaries
contributed to this development. Apart from the high willingness to invest,
this was possible especially due to the sales staff qualification measures.
In the segment, Bechtle generated EBIT of 36.5 million euros, 46.8 per cent
more than in the prior year (24.9 million euros). In the reporting period,
the EBIT margin in the trading segment improved greatly and amounted to an
extraordinary 5.4 per cent, compared to 4.4 per cent in the prior year.
High return on equity
The balance sheet figures of the Bechtle Group point to a solid assets
position and financial structure. Cash and cash equivalents including time
deposits and securities increased by 9.0 per cent from 129.8 million euros
to 141.5 million euros. In the reporting period, the equity increased by
12.8 per cent from 371.5 million euros to 419.0 million euros. Due to the
extensive investments, the equity ratio dropped from 56.8 per cent to 52.2
per cent in the reporting period. However, due to the higher earnings after
taxes, the return on equity improved to 17.3 per cent (prior year: 14.2 per
cent). Compared to the prior year, the cash flow from operating activities
declined slightly by 5.6 per cent from 59.1 million euros to 55.8 million
euros.
Attractive dividend increase
In view of the record earnings and the company's excellent liquidity
situation, the Executive Board and the Supervisory Board propose to the
Annual General Meeting to increase the dividend by 0.10 euros to 0.85 euros
per share and a one-time special dividend of 0.15 euros. This represents a
total dividend increase of 33.3 per cent and a dividend payout ratio of
33.5 per cent. In relation to the annual closing price, the dividend yield
is 3.8 per cent (prior year: 2.6 per cent).
Significant increase in number of employees
As of 31 December 2011, the Bechtle Group had a total of 5,479 employees.
Compared to the prior year with 4,766 employees, the headcount increased by
713 persons. The increase resulted from acquisitions as well as new
recruitment. As of the end of the year, Bechtle had 4,065 employees in
Germany. All in all, this means 594 people more than in the prior year
(3,471 employees). The workforce in other countries increased from 1,295 to
1,414. In the IT system house&managed services segment, the number of
employees increased to 4,305, compared to 3,763 in the prior year. The
number of employees in the IT e-commerce segment amounted to 1,174 (prior
year: 1,003).
Optimistic outlook for 2012
In view of the sound economic situation and the outstanding competitive
position of Bechtle AG, the Executive Board expects the business
performance to be successful and above the industry average in this year,
too. Acquisitions will remain an element of the growth strategy in the IT
system house&managed services segment in order to build an even tighter
network of regional service units and to enhance our technological
expertise. In IT e-commerce, besides the establishment of the existing
markets the Executive Board mainly focuses on organic growth. Following the
current launch in Hungary, other market launches are planned for the years
to come.
'We have got the new fiscal year off to a good start and are confident that
we will be able to keep Bechtle AG on its profitable growth path in 2012,'
explains Dr. Thomas Olemotz.
2011 2010 Change
Revenue th. euros 1,994,881 1,722,919 + 15.8%
Domestic th. euros 1,315,185 1,158,213 +13.6%
Abroad th. euros 679,696 564,706 +20.4%
IT system house&managed
services th. euros 1,315,669 1,151,119 +14.3%
IT e-commerce th. euros 679,212 571,800 +18.8%
EBIT th. euros 86,403 60,728 +42.3%
IT system house&managed
services th. euros 49,891 35,852 +39.2%
IT e-commerce th. euros 36,512 24,876 +46.8%
EBT th. euros 86,289 61,784 +39.7%
EBT margin % 4.3 3.6
Earnings after taxes th. euros 62,723 46,422 +35.1%
Earnings per share euros 2.99 2.21 +35.1%
31/12/2011 31/12/2010 Change* Including time deposits and securities
Cash flow from operating
activities th. euros 55,782 59,114 -5.6%
Cash and cash equivalents* th. euros 141,488 129,750 +9.0%
Equity ratio % 52.2 56.8
Number of employees 5,479 4,766 +15.0%
***
The Annual Report 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 14 countries throughout Europe. Established in 1983, the company is
headquartered in Neckarsulm, Germany, and currently has around 5,500
employees. Bechtle offers its more than 75,000 customers from the fields of
industry, trading, public sector and the financial market a comprehensive,
multi-vendor portfolio of IT infrastructure and IT operation solutions from
one source. 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
Phone: +49 7132/981-4121
ir(at)bechtle.com
Corporate Communications
Sabine Brand
Phone: +49 7132/981-4115
Fax: +49 7132/981-4116
presse(at)bechtle.com
End of Corporate News
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Language: English
Company: 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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