DGAP-News: Bechtle stays on course for success
(firmenpresse) - Bechtle AG / Half Year Results/Interim Report
12.08.2010 07:31
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Bechtle stays on course for success
- Revenue up 16 per cent in Q2 to 375.0 million euros
- EBT grows by 61 per cent to 11.0 million euros
- Executive Board optimistic concerning further development
Neckarsulm, 12 August 2010 - In the second quarter of 2010, Bechtle AG
recorded further substantial increases in revenue and earnings. Revenues
increased by 16.2 per cent to 375.0 million euros (prior year: 322.6
million euros). The IT system house&managed services segment reported a
revenue growth of 12.8 per cent, and the IT e-commerce segment contributed
to this positive development with 23.1 per cent. EBT climbed by 61.2 per
cent to 11.0 million euros (prior year: 6.8 million euros). The EBT margin
thus amounted to 2.9 per cent, compared to 2.1 per cent in the prior-year
quarter. Earnings after taxes skyrocketed by 72.6 per cent, amounting to
8.3 million euros in the second quarter (prior year: 4.8 million euros).
The earnings per share amounted to 0.40 euros, compared to 0.23 euros in
the prior year.
'We are very happy with our business performance. Thanks to the significant
economic recovery and the continually high willingness to invest on the
part of businesses and public-sector clients, we continued to grow
encouragingly in the second quarter. We gained market shares and further
increased the dynamics of the extremely strong first quarter to a
significant extent,' says Dr. Thomas Olemotz, Chairman of the Executive
Board of Bechtle AG.
IT system house&managed services segment eclipses prior year
The revenue in the IT system house&managed services segment increased by
12.8 per cent to 243.7 million euros (prior year: 216.0 million euros). The
growth was exclusively organic. In the second quarter of 2010, the EBIT in
this segment increased by 53.5 per cent to 5.8 million euros (prior year:
3.8 million euros). The EBIT margin was 2.4 per cent, compared to 1.8 per
cent in the prior year. Both the domestic system houses and the system
houses in Switzerland contributed to this positive development.
IT e-commerce exhibits particularly strong growth
The trading segment grew at a disproportionately high rate of 23.1 per cent
from 106.6 million euros to 131.3 million euros. The economic upturn is
still much stronger in this segment than in the system house segment. The
earnings underwent an even more distinct improvement. The EBIT in the IT
e-commerce segment climbed by 75.4 per cent from 2.7 million euros to 4.8
million euros. The EBIT margin was 3.7 per cent, compared to 2.6 per cent
in the prior-year quarter. This favourable development was made possible by
the strong revenue growth and a slightly increased gross margin.
Continually sound assets and financial position
As of 30 June 2010, the equity climbed to 341.6 million euros, compared to
335.0 million euros as of 31 December 2009. Due to the balance extension,
the equity ratio dropped slightly from 64.3 per cent to 64.2 per cent. Cash
and cash equivalents including time deposits and securities amounted to
85.2 million euros as of the end of the reporting period (31 December 2009:
95.0 million euros). The decrease incash and cash equivalents was mainly
caused by the increase in working capital by 13.2 million euros and the
dividend payment of 12.6 million euros. In the six-month period, the cash
flow from operating activities dropped by 11.8 million euros to 7.6 million
euros (prior year: 19.4 million euros). This was due to the high business
performance, which resulted in a disproportionately high build-up of
inventories and trade receivables for reasons related to the reporting
date.
Executive board embarks on second half of the year with optimism
The Executive Board expects the economic recovery to continue, albeit less
dynamically in the remaining part of the year. Provided that the economic
framework conditions remain stable, the management still expects a revenue
increase in both segments, along with a significant improvement in earnings
in the financial year 2010.
Bechtle financial key figures for the 2nd quarter and 1st half of 2010
in th. euros Q2/2010 Q2/2009 +/- H1/2010 H1/2009 +/-
Revenue 374,977 322,619 +16.2% 729,735 641,489 +13.8%
Domestic 244,707 213,819 +14.4% 475,475 420,137 +13.2%
Abroad 130,270 108,800 +19.7% 254,260 221,352 +14.9%
IT system house 243,716 215,970 +12.8% 471,673 423,242 +11.4%
IT e-commerce 131,261 106,649 +23.1% 258,062 218,247 +18.2%
EBIT 10,640 6,541 +62.7% 20,534 12,323 +66.6%
IT system house 5,841 3,805 +53.5% 10,449 6,820 +53.2%
IT e-commerce 4,799 2,736 +75.4% 10,085 5,503 +83.3%
EBT 11,020 6,838 +61.2% 21,265 12,965 +64.0%
EAT 8,321 4,821 +72.6% 15,908 9,150 +73.9%
EPS(in euros) 0.40 0.23 +71.0% 0.76 0.44 +73.0%
Op. cash flow -9,029 5,981 7,556 19,359 -61.0%
in th.euros 30.06.2010 31.12.2009 +/-*Including time deposits and securities
Cash and cash equivalents* 85,173 94,977 -10.3%
Equity ratio (in per cent) 64.2 64.3
Employees 4,440 4,354 +2.0%
***
The quarterly report for Q2/2010 is available for download under
www.bechtle.com/reports. Printed copies are available upon request.
About Bechtle
With about 60 IT system houses in Germany, Austria and Switzerland and
trading companies in twelve countries, Bechtle AG is one of Europe's
leading IT e-commerce providers. Founded in 1983, the company is
headquartered in Neckarsulm, Germany, and currently has more than 4,400
employees. Bechtle offers a vendor-independent, one-stop IT infrastructure
and IT operation solutions to its more than 56,000 predominantly
medium-sized customers from the fields of industry and trade, the public
sector and the financial industry. Bechtle has been a publicly-quoted
company since 2000 and has been listed in the TecDAX technology index since
2004. In 2009, the company reported revenue of 1.38 billion euros.
Contact:
Bechtle AG
Investor Relations
Thomas Fritsche
Telefon: +49 7132/981-4121
Telefax: +49 7132/981-4116
ir(at)bechtle.com
12.08.2010 07:31 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: Bechtle AG
Bechtle Platz 1
74172 Neckarsulm
Deutschland
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 Hamburg, München, Berlin, Düsseldorf, Hannover, Stuttgart
End of News DGAP News-Service
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