DGAP-News: Bechtle Reports Revenue Increase in First Quarter
(firmenpresse) - DGAP-News: Bechtle AG / Key word(s): Quarter Results/Interim Report
Bechtle Reports Revenue Increase in First Quarter
14.05.2013 / 07:29
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Bechtle Reports Revenue Increase in First Quarter
- Revenue up 5.4 per cent to EUR514 million
- Domestic system houses grow above average
- E-commerce regains strength abroad
- EBIT EUR14.5 million, less than in prior year
Neckarsulm, 14 May 2013 - In the first quarter of 2013, Bechtle AG
generated revenues of EUR514.0 million, an increase of 5.4 per cent. Apart
from the domestic system houses, the European e-commerce companies also
made a disproportionately high contribution to the revenue growth. At
EUR14.5 million, earnings before interest and taxes (EBIT) were 16.0 per
cent lower than in the prior year. This figure was greatly impacted by the
substantial headcount increase in the financial year 2012. As of 31 March
2013, the group had a total of 5,959 employees, 375 more than in the
corresponding prior-year quarter.
'Following an outstanding fourth quarter of 2012, we are satisfied with the
revenue performance in the seasonally rather restrained first quarter. We
have reached our goal to grow faster than the market. However, we are not
satisfied with the earnings positions, though I am confident that it will
improve in the remaining part of the year', explains Dr. Thomas Olemotz,
Chairman of the Executive Board of Bechtle AG.
German System Houses with Significant Revenue Growth
In the first quarter, the IT system house&managed services segment
generated revenues of EUR341.4 million (prior year: EUR321.6 million), a
growth of 6.2 per cent. The domestic system houses went up 7.2 per cent to
EUR295.7 million (prior year: EUR275.7 million). The revenues of the system
houses abroad amounted to EUR45.7 million, almost the same as in the prior
year (EUR45.9 million). In the first quarter of 2013, EBIT dropped 30.9 per
cent to EUR7.4 million (prior year: EUR10.7 million). The EBIT margin thus
amounted to 2.2 per cent, compared to 3.3 per cent in the prior year. This
development mainly resulted from the significant headcount increase in the
prior year.
IT E-Commerce Strong Abroad
In the reporting period, the IT e-commerce segment pushed up its revenues
3.9 per cent from EUR166.0 million to EUR172.5 million. Domestic revenues
underwent a slight decline of 1.3 per cent from EUR51.5 million to EUR50.8
million. In contrast, the European e-commerce companies reported a
disproportionately high growth of 6.3 per cent to EUR121.7 million (prior
year: EUR114.5 million). EBIT amounted to EUR7.1 million, an increase of
8.5 per cent over the prior year (EUR6.5 million). The margin climbed from
3.9 per cent to 4.1 per cent.
Comfortable Liquidity
As of 31 March, cash and cash equivalents including time deposits and
securities amounted to a comfortable EUR151.4 million. Thus, the total
liquidity exceeded the total financial liabilities by EUR82.9 million. As
of the balance sheet date, the equity increased to EUR469.2 million. The
equity ratio improved from 54.4 per cent to an outstanding 58.4 per cent.
Headcount Growth in Germany
As of the reporting date 31 March 2013, the Bechtle Group had a total of
5,959 employees, including 404 trainees. While the number represents a
slight drop compared to 31 December 2012 (5,970 employees), it constitutes
a year-on-year increase of 375 (31 March 2012: 5,584 employees). The
increase was caused mainly by the domestic system houses, whose number of
employees increased 10.2 per cent to 4,102 (31 March 2012: 3,723). In
total, 4,558 persons or more than three quarters of the workforce were
employed in Germany. Currently, the training ratio in Germany is 8.1 per
cent.
Annual Forecast Confirmed
As previously, Bechtle expects the revenues in 2013 to outperform the
market. As far as the earnings before taxes are concerned, Bechtle holds
fast to its communicated goal of reaching or exceeding the prior-year
value. 'The performance of the first quarter motivates all of us to use the
remaining months to reach our ambitious targets for the year', says Dr.
Thomas Olemotz.
Bechtle KPIs for the First Quarter of 2013
Q1/2013 Q1/2012 Change*Prior-year figures adjusted pursuant to IAS 19R
Revenue EURk 513,950 487,607 +5.4%
Domestic EURk 346,518 327,228 +5.9%
Abroad EURk 167,432 160,379 +4.4%
IT system house&managed services EURk 341,408 321,609 +6.2%
IT e-commerce EURk 172,542 165,998 +3.9%
EBIT EURk 14,493 17,248* -16.0%
IT system house&managed services EURk 7,395 10,706* -30.9%
IT e-commerce EURk 7,098 6,542* +8.5%
EBIT margin % 2.8 3.5*
EBT EURk 14,086 17,019* -17.2%
Earnings after taxes EURk 10,075 12,254* -17.8%
Earnings per share EUR 0.48 0.58* -17.8%
Cash flow from operating activities EURk 18,461 14,122 +30.7%
Number of employees (average) 5,963 5,570 +7.1%
31.03.2013 31.12.2012 Change***
Cash and cash equivalents EURk 151,378 146,155 +3.6%
Equity ratio % 58.4 54.4
Employees 5,959 5,970 -0.2%
The interim financial report for the first quarter of 2013 is available for
download at www.bechtle.com/reports.
About Bechtle
As a one-stop IT provider, Bechtle AG is active with 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 at the stock exchange since
2000 and has been listed in the TecDAX technology index since 2004. In the
fiscal year 2012, the group generated revenues of more than EUR2 billion.
Bechtle AG
Bechtle Platz 1
74172 Neckarsulm
Investor Relations
Martin Link
Telephone: +49 7132 981-4149
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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