DGAP-News: Bechtle AG Closes 2012 with Record Revenue
(firmenpresse) - DGAP-News: Bechtle AG / Key word(s): Final Results/Dividend
Bechtle AG Closes 2012 with Record Revenue
14.03.2013 / 10:30
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Bechtle AG Closes 2012 with Record Revenue
- Revenues up 5.1 per cent to EUR 2,097 million
- EBIT EUR 80.5 million, 6.8 per cent below prior year
- Normal dividend increases to EUR 1.00 per share
Neckarsulm, 14 March 2013 - In the fiscal year 2012, Bechtle AG's revenues
surpassed the two-billion-euro mark for the first time. Revenues increased
5.1 per cent from EUR 1,994.9 million in the prior year to
EUR 2,096.8 million in the reporting period. The significantly higher
personnel expenses as a result of the substantial surge in headcount caused
EBIT to decline by 6.8 per cent to EUR 80.5 million. Accordingly, the EBIT
margin decreased from 4.3 per cent to 3.8 per cent. The earnings per share
thus amounted to EUR 2.69, compared to EUR 2.99 in the prior year. Due to
the positive business performance and the comfortable liquidity, the
Supervisory Board and the Executive Board of Bechtle AG propose to the
Annual General Meeting that the normal dividend be raised to EUR 1.00 for
the fiscal year 2012 (prior year: normal dividend EUR 0.85 plus special
dividend EUR 0.15).
'From the group perspective, 2012 was a good fiscal year. Though the
business in some Southern European countries lagged behind our
expectations, we were able to grow above average especially in the United
Kingdom, in the Netherlands and of course in Germany, thereby further
expanding our market share,' explains Dr. Thomas Olemotz, Chairman of the
Executive Board of Bechtle AG.
Growth Driven by German System Houses
In the IT system house&managed services segment, the group generated
revenues of EUR 1,394.5 million in 2012 (prior year: EUR 1,315.7 million).
This represents an increase of 6.0 per cent. This development was mainly
driven by the home market Germany, where customer demand and willingness to
invest remained stable and resulted in a revenue increase of 9.8 per cent.
Moreover, the good competitive position and the extensive qualification
measures yielded a positive effect. In contrast, the system house business
abroad dropped 14.8 per cent to EUR 174.5 million. Here, the restrained
economic development caused noticeable reluctance to buy and further
postponement of projects. Organically, the revenue in this segment amounted
to EUR 1,368.1 million, 4.0 per cent more than in the prior year. In the
system house segment, the EBIT dropped 11.0 per cent to EUR 44.4 million
(prior year: EUR 49.9 million), especially because of the higher personnel
expenses. Due to acquisitions, depreciation and amortisation also went up.
The EBIT margin amounted to 3.2 per cent, compared to 3.8 per cent in the
prior year.
Trading Business Grows Despite Difficult Environment
In 2012, the revenue in the IT e-commerce segment increased 3.4 per cent to
EUR 702.4 million (prior year: EUR 679.2 million), a result obtained
exclusively from organic growth. In this segment, too, Bechtle benefited
from the stable domestic demand and was able to push up the revenue 4.7 per
cent. Abroad, demand was curbed especially by the negative economic impact
of the European debt crisis. Nevertheless, Bechtle's IT e-commerce segment
outside Germany recorded a growth of 2.9 per cent. In the reporting period,
the EBIT amounted to EUR 36.1 million, only 1.1 per cent below the
prior-year figure of EUR 36.5 million. The EBIT margin reached a very good
level of 5.1 per cent, compared to 5.4 per cent in the prior year.
Comfortable Equity Ratio
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 3.3 per cent from EUR 141.5 million to
EUR 146.2 million. In the reporting period, the equity increased 9.4 per
cent from EUR 419.0 million to EUR 458.4 million. The equity ratio improved
from 52.2 per cent to 54.2 per cent.
Significant Headcount Increase as Investment for the Future
As of 31 December 2012, Bechtle had a total of 5,970 employees. Compared to
the prior year (5,479 employees), the number of employees increased by 491
or 9.0 per cent. The increase was the result of acquisitions as well as new
recruitment. Most of the new employees were hired in Germany. There,
Bechtle had 4,550 employees as of the end of the year. All in all, this
means 485 people more than in the prior year (4,065 employees). The number
of employees active abroad amounted to 1,420, almost the same number as in
the prior year (1,414). Bechtle continues to invest intensively in
training. As of the end of the year, the group had a total of 428 young
trainees. This represents a 20.2-per-cent increase over 2011.
Reliable Dividend Policy
In view of the company's positive business performance and excellent
liquidity, the Executive Board and the Supervisory Board propose to the
Annual General Meeting to pay out a dividend of EUR 1.00 per share for the
fiscal year 2012. This corresponds to an increase of the normal dividend by
EUR 0.15 compared to the prior year (normal dividend EUR 0.85 and special
dividend EUR 0.15). The dividend payout ratio is thus increasing from 33.5
per cent to 37.1 per cent. In relation to the annual closing price, the
dividend yield is 3.3 per cent (prior year: 3.8 per cent).
Positive Outlook for 2013
In view of the sound economic situation and the group's good competitive
position, the Executive Board currently expects the business performance of
Bechtle AG in this year to be positive and above industry average. To fill
regional and technological gaps, acquisitions will remain an element of the
growth strategy in the IT system house&managed services segment. In IT
e-commerce, the Executive Board mainly relies on organic growth and plans
to establish an ARP company in Belgium and a Comsoft direct company in the
United Kingdom.
'We enter the new fiscal year 2013 with confidence and the goal not only to
outperform the market in terms of revenue, but also to return to growth as
far as the earnings are concerned,' explains Dr. Thomas Olemotz.
2012 2011 Change
Revenue EURk 2,096,835 1,994,881 +5.1%
Domestic EURk 1,433,869 1,315,185 +9.0%
Abroad EURk 662,966 679,696 -2.5%
IT system house&managed services EURk 1,394,455 1,315,669 +6.0%
IT e-commerce EURk 702,380 679,212 +3.4%
EBIT EURk 80,520 86,403 -6.8%
IT system house&managed services EURk 44,405 49,891 -11.0%
IT e-commerce EURk 36,115 36,512 -1.1%
EBT EURk 79,256 86,289 -8.2%
EBT margin % 3.8 4.3
Earnings after taxes EURk 56,561 62,723 -9.8%
Earnings per share EUR 2.69 2.99 -9.8%
31.12.2012 31.12.2011 Change* Including time deposits and securities
Cash flow from operating activities EURk 56,669 55,782 +1.6%
Cash and cash equivalents* EURk 146,155 141,488 +3.3%
Equity ratio % 54.2 52.2
Employees5,970 5,479 +9.0%
***
The Annual Report 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
online dealers for information technology, with subsidiaries in 14
countries. Founded in 1983, the company is headquartered in Neckarsulm,
Germany, and currently has around 6,000 employees. Bechtle offers its more
than 75,000 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
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 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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