DGAP-News: Bechtle reports revenue increase
(firmenpresse) - DGAP-News: Bechtle AG / Key word(s): Quarter Results/Interim Report
Bechtle reports revenue increase
13.11.2012 / 07:31
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Bechtle reports revenue increase
- Revenue up to EUR1.5 billion from January to September
- Stable domestic demand drives growth
- EBIT about EUR52 million
- Annual outlook concretised
Neckarsulm, 13 November 2012 - In the first three quarters of 2012, Bechtle
AG generated revenues of EUR1,484.6 million, an increase of 5.3 per cent.
The gross margin improved from 14.7 per cent to 15.1 per cent. In the
nine-month period, EBIT amounted to EUR51.5 million. This figure was
greatly impacted by the substantial headcount increase. As of 30 September,
the group had 5,978 employees, 499 more than at the end of 2011.
'After the excellent fiscal years of 2010 and 2011, we are pleased with the
YTD revenue development in 2012. Especially in Germany, we have again
strengthened our competitive position with an above-average growth of 10
per cent,' explains Dr. Thomas Olemotz, Chairman of the Executive Board of
Bechtle AG.
Growth driven by German system houses
In the period from January to September, the revenue in the IT system house&managed services segment amounted to EUR979.1 million, a growth of 5.9
per cent, mainly due to the good market position and the stable demand in
Germany. On the home market, revenues increased 10.8 per cent. In contrast,
the system house business in other countries dropped 18.3 per cent. Here,
the curbed economic development caused noticeable reluctance to buy and
further postponement of projects. Organically, the segment revenue amounted
to EUR955.6 million, 3.4 per cent more than in the prior year. EBIT dropped
from EUR34.7 million in the prior year to EUR27.7 in the period under
review. This was mainly due to the higher personnel expenses, which could
not be compensated despite the higher gross earnings. Due to acquisitions,
depreciation and amortisation also went up. The EBIT margin amounted to 2.8
per cent, compared to 3.8 per cent in the prior year.
IT e-commerce resilient to difficult environment
The IT e-commerce segment underwent exclusively organic growth of 4.0 per
cent to EUR505.4 million. In this segment, too, Bechtle benefited from the
stable demand in Germany and was able to increase its revenue 5.7 per cent.
In other countries, the demand was impaired especially by the euro crisis.
Nevertheless, Bechtle achieved a growth of 3.2 per cent. In the nine-month
period, EBIT amounted to EUR23.8 million, 4.3 per cent less than in the
prior year. The EBIT margin declined from 5.1 per cent to 4.7 per cent.
Sufficient liquidity for further growth
As of 30 September, cash and cash equivalents, including time deposits and
securities, totalled a comfortable EUR101.3 million. Thus, the total
liquidity exceeded the total financial liabilities by EUR37.5 million. As
of the balance sheet date, the equity increased EUR16.2 million to EUR435.2
million. The equity ratio improved from 52.2 per cent to 58.0 per cent.
Headcount growth to ensure sustainability
As of 30 September, the group had 5,978 employees. The growth in the third
quarter thus amounted to 228. This figure includes 136 employees who
embarked on their professional career with Bechtle on 1 September.
Currently, the training ratio in Germany is 7.3 per cent. Year on year, the
average number of employees in the group wentup 680, an increase of 13.5
per cent. This increase resulted from new recruitment to help improve our
position in strategically important focus areas as well as acquisitions.
'Ensuring our company's sustainability by gaining and bonding qualified
experts is currently one of our top priorities,' explains Dr. Thomas
Olemotz.
Outlook for 2012 concretised
As previously, Bechtle expects this year's revenue increase to outperform
the market. Thus, the company will further expand its market share.
However, in view of the development of the first nine months, Bechtle's
earnings before taxes will not reach the record mark of the prior year.
'The lower income growth compared to the prior year is the result of the
weak performance in the European markets outside Germany and the major
investments in new employees,' says Dr. Thomas Olemotz.
Bechtle KPIs for the third quarter and the first nine months of 2012
Q3 2012 Q3 2011 +/?9M 2012 9M 2011 +/-
Revenue EURk 501,626 497,332 0.9% 1,484,551 1,410,470 5.3%
Domestic EURk 354,255 332,679 6.5% 1,009,220 917,714 10.0%
Abroad EURk 147,371 164,653 -10.5% 475,331 492,756 -3.5%
IT system house EURk 335,981 333,959 0.6% 979,120 924,480 5.9%
IT e-commerce EURk 165,645 163,373 1.4% 505,431 485,990 4.0%
EBIT EURk 18,691 22,114 -15.5% 51,456 59,605 -13.7%
IT system house EURk 10,314 13,641 -24.4% 27,674 34,747 -20.4%
IT e-commerce EURk 8,377 8,473 -1.1% 23,782 24,858 -4.3%
EBT EURk 18,412 21,847 -15.7% 50,648 59,883 -15.4%
EBT margin % 3.7 4.4 3.4 4.2
EAT EURk 13,234 15,923 -16.9% 36,381 43,580 -16.5%
EPS EUR 0.63 0.76 -16.9% 1.73 2.08 -16.5%
OCF EURk 4,282 13,118 -67.4% 11,059 21,899 -49.5%
Employees (average) 5,862 5,250 11.7% 5,721 5,041 13.5%
30.09.2012 31.12.2011 +/-***
Cash and cash equivalents* EURk 101,337 141,488 -28.4%
Equity ratio % 58.0 52.2
Employees 5,978 5,479 9.1%
*(Including time deposits and securities)
The interim financial report for the third quarter of 2012 is available for
download at www.bechtle.com/reports.
About Bechtle
As a one-stop IT provider, Bechtle is active with more than 65 system
houses in Germany, Austria and Switzerland and is one of Europe's leading
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 direct 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 on the stock exchange
since 2000 and has been listed in the TecDAX technology index since 2004.
In the fiscal year 2011, the group generated revenues of approximately 2
billion euros.
Contact:
Bechtle AG
Investor Relations
Thomas Fritsche
Telephone: +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 7132 981-0
Fax: +49 7132 981-8000
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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