DGAP-News: Bechtle AG reports very strong first quarter
(firmenpresse) - DGAP-News: Bechtle AG / Key word(s): Quarter Results/Interim Report
Bechtle AG reports very strong first quarter
11.05.2011 / 07:00
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Bechtle AG reports very strong first quarter
- Best Q1 in company history
- Revenue up 29 per cent to 456.1 million euros
- EBT grows by 77 per cent to 18.1 million euros
- Second quarter starts with good business performance
Neckarsulm, 11 May 2011 - In the first quarter of the fiscal year 2011,
Bechtle AG recorded a significant increase in revenue and earnings. From
January to March, the group revenues climbed to 456.1 million euros, 28.6
per cent more than in the prior year (354.8 million euros). With its EBT of
18.1 million euros, the group surpassed the prior year by 76.6 per cent
(10.2 million euros). The EBT margin improved from 2.9 per cent to 4.0 per
cent. Earnings per share increased by 73.7 per cent to 0.63 euros, compared
to 0.36 euros in the prior year.
'With the best first quarter in its company history, Bechtle has made an
excellent start into the fiscal year 2011. We have managed to keep the
growth at a very high level and to increase earnings significantly,' says
Dr. Thomas Olemotz, Chairman of the Executive Board of Bechtle AG.
System houses boast three-digit increase in earnings
In the first quarter, the Bechtle Group generated revenues of 295.8 million
euros in the IT system house&managed services segment (prior year: 228.0
million euros), a growth of 29.8 per cent. In this area, Bechtle benefited
from the sustained high demand for IT products and services. Moreover, the
three acquisitions of the prior year had a positive effect. Organically,
the revenue amounted to 284.2 million euros, meaning 24.7 per cent more
than in the prior year. In the first quarter, EBIT increased by an
above-average 119.7 per cent to 10.1 million euros (prior year: 4.6 million
euros). This was mainly due to the improvements in gross earnings and the
disproportionately low development of the functional costs. The EBIT margin
climbed from 2.0 per cent to 3.4 per cent. All regions contributed to this
encouraging development.
Strong growth in e-commerce
In the period under review, the IT e-commerce segment grew by 26.4 per
cent. Revenues went up from 126.8 million euros to 160.3 million euros. The
strong demand for IT products, which was already evident in the last fiscal
year, continued in the first months of this year. The domestic and foreign
trading companies accounted for almost equal shares of the growth. The
segment EBIT amounted to 7.7 million euros, an increase of 46.1 per cent
over the prior year (5.3 million euros). However, the earnings were reduced
by the start-up costs of the companies founded in the prior year.
Nevertheless, the margin improved significantly from 4.2 per cent to 4.8
per cent.
Significantly improved 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 remained largely unchanged, totalling 128.1 million
euros. As of 31 March, the equity increased from 371.5 million euros to
383.2 million euros. Thus, the equity ratio went up from 56.8 per cent to
60.3 per cent. The annualized return on equity increased from 9.6 per cent
in the prior year to 15.4 per cent. Due to the greatly expanded business
volume, the cash flow fromoperating activities dropped to 5.8 million
euros (prior year: 16.6 million euros).
Number of employees still rising
As of 31 March 2011, the Bechtle Group had a total of 4,875 employees, 109
more than as of 31 December 2010. The increase mainly resulted from new
recruitment. As of the end of the quarter, Bechtle had 3,536 employees (31
December 2010: 3,471) in Germany. The number of employees in other
countries increased from 1,295 to 1,339.
Positive signs for Q2
At the beginning of the second quarter, Bechtle continued to record high
numbers of incoming orders. 'So far, everything indicates that we will
achieve notable revenue and earnings growth in fiscal year 2011, provided
that the favourable economic development is here to stay. In the last two
years, we invested intensively in the expansion of our business portfolio
and in the further development of our employees. We now benefit from these
investments in the form of improved competitiveness,' explains Dr. Thomas
Olemotz.
Q1/2011 Q1/2010 Change
Revenue thou. euros 456,107 354,758 +28.6%
Domestic thou. euros 296,997 230,768 +28.7%
Abroad thou. euros 159,110 123,990 +28.3%
IT system house&managed
services thou. euros 295,780 227,957 +29.8%
IT e-commerce thou. euros 160,327 126,801 +26.4%
EBIT thou. euros 17,847 9,894 +80.4%
IT system house&managed
services thou. euros 10,126 4,608 +119.7%
IT e-commerce thou. euros 7,721 5,286 +46.1%
EBT thou. euros 18,096 10,245 +76.6%
EBT margin % 4.0 2.9
Earnings after taxes thou. euros 13,175 7,587 +73.7%
Earnings per share euros 0.63 0.36 +73.7%
Operating Cash flow thou. euros 5,821 16,585 -64.9%
31.03.2011 31.12.2010 Change* Including time deposits and securities
Liquidity* thou. euros 128,099 129,750 -1.3%
Equity ratio % 60.3 56.8
Number of employees 4,875 4,766 +2.3%
Contact
Bechtle AG
Bechtle Platz 1
D-74172 Neckarsulm, Germany
Investor Relations
Thomas Fritsche
thomas.fritsche(at)bechtle.com
Tel: +49 (0) 7132 981-4121
Fax: +49 (0) 7132 981-4116
End of Corporate News
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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 Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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Datum: 11.05.2011 - 07:00 Uhr
Sprache: Deutsch
News-ID 34017
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