Bechtle : Quarterly Statement 3.2020

3 R D Q U A R T E R 2 0 2 0

QUARTERLY STATEMENT AS OF 30 SEPTEMBER 2020

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KEY FIGURES OF THE BECHTLE GROUP AT A GLANCE

			01.01-		01.01-			Change
			30.09.2020		30.09.2019			in %
Revenue	€k	4,037,046	3,777,057	6.9
IT System House & Managed Services	€k	2,670,956	2,434,122	9.7
IT E-Commerce	€k	1,366,090	1,342,935	1.7
EBITDA	€k	257,611	221,273	16.4
IT System House & Managed Services	€k	175,681	142,321	23.4
IT E-Commerce	€k	81,930	78,952	3.8
EBIT	€k	185,509	161,700	14.7
IT System House & Managed Services	€k	122,698	100,691	21.9
IT E-Commerce	€k	62,811	61,009	3.0
EBIT margin	%		4.6	4.3
IT System House & Managed Services	%		4.6	4.1
IT E-Commerce	%		4.6	4.5
EBT	€k	180,787	157,741	14.6
EBT margin	%		4.5	4.2
Earnings after taxes	€k	128,025	111,087	15.2
Earnings per share	€	3.05	2.64	15.2
Return on equity1	%		17.6	17.6
Cash flow from operating activities	€k	172,058	38,745
Number of employees (as of 30.09)			12,055	11,246	7.2
IT System House & Managed Services			9,571	8,834	8.3
IT E-Commerce			2,484	2,412	3.0
			30.09.2020					Change
			31.12.2019			in %
Cash and cash equivalents2	€k	330,856	272,197	21.6
Working Capital	€k	616,057	647,728			−4.9
Equity ratio	%		43.7	42.4

1 Annualised

2 Incl. time deposits and securities

REVIEW BY QUARTER 2020

Revenue	€k
EBITDA	€k
EBIT	€k
EBT	€k
EBT margin	%
Earnings after taxes	€k

1st Quarter		2nd Quarter		3rd Quarter		4th Quarter	2020 FY
01.01- 31.03		01.04- 30.06		01.07- 30.09		01.10- 31.12	01.01- 30.09
1,355,674	1,310,516	1,370,856				4,037,046
76,185	83,879	97,547				257,611
52,627	59,540	73,342				185,509
51,055	58,059	71,673				180,787
3.8	4.4	5.2				4.5
36,468		40,800		50,757				128,025

3

EARNINGS POSITION

In the third quarter of 2020, the Bechtle Group again recorded high growth despite the ongoing COVID- 19 pandemic and the great uncertainty it has caused.

As of 30 September, the order backlog amounted to €854 million (prior year: €689 million). Of this amount, the IT System House & Managed Services segment accounted for €690 million (prior year: €570 million), and the IT E-Commerce segment for €164 million (prior year: €119 million).

Year on year, the revenue went up 7.4 per cent to €1,370.9 million. The organic revenue growth amounted­ to 6.3 per cent.

GROUP REVENUE												€m
											1,597.4
							1,353.4	1,239.9	1,260.8	1,276.3		1,355.7	1,310.5 1,370.9
			1,070.9			1,049.6
				955.4	965.0
803.1	822.2	873.9
Q1/17	Q2/17	Q3/17	Q4/17	Q1/18	Q2/18	Q3/18	Q4/18	Q1/19	Q2/19	Q3/19	Q4/19	Q1/20	Q2/20	Q3/20

The IT System House & Managed Services segment increased revenue by 9.7 per cent, thus maintaining the high growth rate of the prior two quarters. In the third quarter, the companies in Austria and Switzerland again posted particularly strong growth of 24.3 per cent, with an organic increase of

19.6 per cent. In the IT E-Commerce segment, the increase amounted to 3.1 per cent. This represents a major improvement over the prior quarter, in which the segment had suffered a decline of 6.6 per cent. In this segment, Germany was the growth driver, with an increase of 23.0 per cent.

Bechtle AG Quarterly Statement as of 30 September 2020

4

REVENUE BY SEGMENTS											€m
0	250	500	750		1,000	1,250	1,500	1,750	2,000	Total
Q3/2019			837.1			439.2				1,276.3
											1,370.9
Q3/2020			917.9		453.0
											(+ 7.4%)
	IT System House & Managed Services		IT E-Commerce

The revenue of the companies abroad increased by 4.8 per cent. This item was still affected by the COVID-19 restrictions, some of which were stricter and longer. The German companies recorded strong growth of 8.9 per cent.

REVENUE - GROUP AND SEGMENTS					€k
		Q3/2020		Q3/2019	Change
Group	1,370,856	1,276,305		+7.4%
Domestic		876,538	804,664		+8.9%
Abroad		494,318		471,641		+4.8%
IT System House & Managed Services	917,897	837,069		+9.7%
IT E-Commerce		452,959		439,236		+3.1%

Gross earnings increased 8.3 per cent, and the gross margin went up slightly from 14.9 per cent to 15.0 per cent. While personnel expenses and depreciation and amortisation - which are included in the cost of sales - underwent a disproportionately high increase, the other operating expenses dropped by 19.3 per cent. This was due to savings made as a result of the coronavirus pandemic, especially with regard to travel expenses. At 7.0 per cent, material costs rose slightly less than proportionately, thus also contributing to the positive development of the gross margin.

Costs in the functional areas sales and administration both underwent a below-average increase.

Administrative expenses increased 2.1 per cent, and the corresponding ratio dropped slightly from

1. per cent to 4.7 per cent. Due to the savings as mentioned above, distribution costs even fell by

1. per cent, and the expense ratio went down from 5.9 per cent to 5.4 per cent. Other operating income climbed 4.6 per cent to €6.2 million.

Year on year, EBITDA grew 22.4 per cent, and the EBITDA margin went up from 6.2 per cent to 7.1 per cent.

Depreciation and amortisation increased by 13.4 per cent to €24.2 million. As previously, depreciation of property, plant and equipment accounted for the largest share of the depreciation and amortisa- tion, rising from €17.9 million to €20.1 million.

EBIT gained 25.7 per cent to €73.3 million. The margin was 5.4 per cent, compared to 4.6 per cent in the prior year.

The EBT performance was similar, increasing 25.7 per cent to €71.7 million. As a result, the EBT ­margin improved from 4.5 per cent to 5.2 per cent.

Bechtle AG Quarterly Statement as of 30 September 2020

5

EBT AND EBT MARGIN												€m and %
3.9	4.4	4.8	4.9	3.7	4.5	4.4	5.0	3.6	4.4	4.5	4.9	3.8	4.4	5.2
											78.6
							68.2							71.7
									55.7	57.0			58.1
			52.9
											51.1
					43.6	46.1		45.0
		42.2
	36.2			35.4
31.5
Q1/17	Q2/17	Q3/17	Q4/17	Q1/18	Q2/18	Q3/18	Q4/18	Q1/19	Q2/19	Q3/19	Q4/19	Q1/20	Q2/20	Q3/20

The tax rate declined slightly from 29.5 per cent to 29.2 per cent. Earnings after taxes went up 26.2 per cent to €50.8 million. EPS amounted to €1.21 (prior year: €0.96).

In the segments, the earnings situation was as follows: In the IT System House & Managed Services segment, EBIT increased 24.9 per cent to €50.0 million. On the one hand, there was an increased share of higher-margin services. On the other hand, corona-related cost savings led to a decline in other operating expenses. The EBIT margin went up from 4.8 per cent to 5.5 per cent.

EBIT in the IT E-Commerce segment climbed 27.3 per cent to €23.3 million. Firstly, this item was affected by savings in distribution costs. Secondly, the product mix in the third quarter had a positive effect on the margin. Year on year, the EBIT margin thus underwent a significant increase from 4.2 per cent to 5.1 per cent.

EBIT - GROUP AND SEGMENTS					€k
		Q3/2020		Q3/2019		Change
Group		73,342	58,363	+25.7%
IT System House & Managed Services		50,036		40,050		+24.9%
IT E-Commerce		23,306		18,313		+27.3%

Bechtle AG Quarterly Statement as of 30 September 2020

6

ASSETS AND FINANCIAL POSITION

The balance sheet total of the Bechtle Group as of 30 September 2020 stood at €2,504.2 million, 4.6 per cent more than as of 31 December 2019.

On the non-current assets side, goodwill and property, plant and equipment went up by €45.5 million and €26.9 million, respectively, due especially to acquisitions. The increase of €19.2 million in trade receivables reflects the higher number of large projects. The capitalisation ratio climbed from 35.3 per cent to 37.5 per cent.

Under the current assets, inventories increased by €71.3 million due to stock reserved for large projects and other reasons. However, compared to the level as of 30 June 2020, the inventories went down. As of 30 September 2020, trade receivables underwent a significant decline of €147.7 million. In the first nine months of 2020, our average DSO (days sales outstanding) dropped from 42.2 days to

41.2 days year on year. Especially in view of the tense macroeconomic situation, this notable achieve- ment underlines the effectiveness of our receivables management. Owing to a higher number of maintenance agreements and other factors, other assets increased by €35.0 million. As of 30 Sep- tember 2020, cash and cash equivalents went up to €290.9 million. The total liquidity of the Bechtle Group thus amounts to a comfortable €330.9 million.

LIQUIDITY (INCLUDING TIME DEPOSITS AND SECURITIES)						€m
														330.9
							250.9				272.2	285.1
											236.8
			174.8					191.6		154.9
					140.9
134.1								118.4
	104.0		115.7	104.4
	83.0
Q1/17	Q2/17	Q3/17	Q4/17	Q1/18	Q2/18	Q3/18	Q4/18	Q1/19	Q2/19	Q3/19	Q4/19	Q1/20	Q2/20	Q3/20

The working capital dropped from €647.7 million to €616.1 million as of 30 September 2020. Even though inventories were further built up, this was more than compensated for by a substantial reduction of trade receivables and a lower reduction of the trade payables. In relation to the revenue, the working capital declined from 18.8 per cent as of 30 September 2019 to 15.3 per cent as of the reporting date.

On the equity and liabilities side, non-current liabilities experienced the greatest change. Due to a loan raised to finance acquisitions, financial liabilities went up €49.9 million.

Under the current liabilities, especially the trade payables dropped by €49.2 million in relation to the reporting date. Owing to factors such as the lower liabilities to personnel and VAT tax liabilities, other liabilities declined by €24.4 million.

Bechtle AG Quarterly Statement as of 30 September 2020

7

The equity increased by €80.3 million. Our equity ratio went up from 42.4 per cent as of 31 December 2019 to 43.7 per cent as of the reporting date. The extrapolated return on equity remained at the high prior-year level of 17.6 per cent.

EQUITY RATIO													%
59.0	58.5	58.7	53.9	57.6	56.5
					46.7				44.5
						43.6	43.0	42.7	42.4	43.0	42.7	43.7
Q1/17	Q2/17	Q3/17	Q4/17	Q1/18	Q2/18	Q3/18	Q4/18	Q1/19	Q2/19	Q3/19	Q4/19	Q1/20	Q2/20	Q3/20

In the period from January to September 2020, the cash flow from operating activities totalled €172.1 million (prior year: €38.7 million). This was due especially to the significant reduction of trade receivables, a lower build-up of inventories and a lower reduction of trade payables.

CASH FLOW FROM OPERATING ACTIVITIES

€m

147.2

132.7

98.2

53.3

44.0

33.6

35.0

22.8

16.6

13.9

7.6

−6.3

−6.6

−17.0

−22.1

Q1/17

Q2/17

Q3/17

Q4/17

Q1/18

Q2/18

Q3/18

Q4/18

Q1/19

Q2/19

Q3/19

Q4/19

Q1/20

Q2/20

Q3/20

Bechtle AG Quarterly Statement as of 30 September 2020

8

The cash flow from investing activities amounted to −€125.1 million (prior year: −€60.0 million). This was caused especially by the higher outflow for acquisitions as well as the outflow for the purchase of time deposits and securities. The cash flow from financing activities was at −€27.1 million compared to −€71.7 million in the prior year due to the assumption of new financial activities.

In the period from January to September, the free cash flow reached an excellent figure of €87.2 million (prior year: −€27.0 million).

EMPLOYEES

As of the reporting date 30 September 2020, the Bechtle Group had a total of 12,055 employees, 809 persons or 7.2 per cent more than on 30 September 2019. Compared to 31 December 2019, the headcount went up by 568. The increase of 4.9 per cent was the result of new recruitment as well as acquisitions.

EMPLOYEES IN THE GROUP

												11,768	11,955	12,055
											11,487
									10,915	11,246
							10,005	10,334
						9,651
				8,627	8,790
			8,353
		8,199
	7,909
7,708
Q1/17	Q2/17	Q3/17	Q4/17	Q1/18	Q2/18	Q3/18	Q4/18	Q1/19	Q2/19	Q3/19	Q4/19	Q1/20	Q2/20	Q3/20

In the IT System House & Managed Services segment, the number of employees went up by 737 compared to 30 September 2019, an increase of 8.3 per cent. At 19.2 per cent, the headcount increase in the system houses abroad was significantly higher than in Germany, an effect that was also ­acquisition-related. In Germany, the number of employees grew by 6.7 per cent. Compared to

Bechtle AG Quarterly Statement as of 30 September 2020

9

30 September 2019, the headcount in the IT E-Commerce segment went up by 72. At 3.5 and 2.8 per cent, respectively, both the companies in Germany and those abroad merely underwent growth regarding the employee figures.

The average headcount in the group in the period from January to September 2020 amounted to 11,876, some 1,153 employees more than in the corresponding prior-year period, an increase of 10.8 per cent.

EMPLOYEES BY SEGMENTS

0	1,000	2,000	3,000	4,000	5,000	6,000	7,000	8,000	9,000	10,000	11,000	12,000	Total
Q3/19									8,834			2,412				11,246
																	11,487
Q4/19										9,097		2,390
																	12,055
											9,571			2,484
Q3/20																		(+ 7.2%)
																			vs. Q3/19
	IT System House & Managed Services			IT E-Commerce

As of 30 September 2020, Bechtle had 699 young trainees and students on integrated degree pro- grammes, 15 fewer than in the prior year. At the start of the new training year on 1 September 2020, a total of 216 young people embarked on their career with Bechtle.

FORECAST

The 2020 fiscal year is overshadowed by the numerous effects of the COVID-19 pandemic. Since March - and now again to an increased extent - the macroeconomic framework conditions and their development are subject to great uncertainty. So far, Bechtle has done extremely well despite these difficulties. In the first nine months, the revenue went up 6.9 per cent, and EBT even increased 14.6 per cent. In view of this positive development, we are confident that we will reach our goals for 2020 despite the high uncertainty and the risks that still exist in the supply chain. However, this greatly depends on the further course of the pandemic in the fourth quarter. Due to the seasonality that the business of Bechtle AG is typically subject to, the months of November and December are critical to the success of a fiscal year. Provided that the restrictions due to the coronavirus pandemic are not drastically intensified throughout Europe in the coming weeks, and especially the business landscape does not suffer another total lockdown, we concretise and raise our forecast of March 2020. As previ- ously, we are aiming for significant revenue growth of 5 to 10 per cent. However, against the backdrop of the positive earnings and margin performance in the year to date, we are increasing our forecast with regard to these indicators. We now expect very significant EBT growth (previously: significant). Our original projection in respect of the EBT margin performance was that we intend to keep it at least at the prior-year level. We now expect the EBT margin for 2020 to be above that of the prior year. Apart from this, the forecast as presented on pages 111 to 118 of the Annual Report 2019 has not seen any changes and has not been further concretised.

Bechtle AG Quarterly Statement as of 30 September 2020

10

CONSOLIDATED INCOME STATEMENT

									€k
			01.07-		01.07-	01.01-		01.01-
			30.09.2020	30.09.2019		30.09.2020	30.09.2019
Revenue			1,370,856		1,276,305		4,037,046		3,777,057
Cost of sales			1,165,136	1,086,326		3,431,911	3,229,853
Gross profit			205,720	189,979		605,135	547,204
Distribution costs			74,425		74,718		229,662		221,650
Administrative expenses			64,189		62,858		205,719		186,190
Other operating income			6,236		5,960		15,755		22,336
Earnings before interest and taxes			73,342		58,363		185,509		161,700
Financial income			230		249		737		828
Financial expenses			1,899		1,585		5,459		4,787
Earnings before taxes			71,673		57,027		180,787		157,741
Income taxes			20,916		16,810		52,762		46,654
Earnings after taxes
(attributable to shareholders of Bechtle AG)			50,757	40,217		128,025	111,087
Net earnings per share (basic and diluted)	€		1.21		0.96		3.05		2.64
Weighted average shares outstanding
(basic and diluted)	in thousands		42,000		42,000		42,000		42,000

Bechtle AG Quarterly Statement as of 30 September 2020

11

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

								€k
		01.07-		01.07-	01.01-		01.01-
		30.09.2020	30.09.2019		30.09.2020	30.09.2019
Earnings after taxes	50,757	40,217		128,025	111,087
Other comprehensive income
Items that will not be reclassified to profit or loss in subsequent periods
Actuarial gains and losses on pension provisions	192		−214	−1,447	200
Income tax effects	−25	41		290		−38
Items that will be reclassified to profit or loss in subsequent periods
Unrealised gains and losses on financial derivatives	−48		−58	−171		−174
Income tax effects	−3	1		1	2
Currency translation differences of net investments
in foreign operations		2,491		−1,334		4,937		−2,090
Income tax effects	−739	397		−1,466	621
Currency translation differences	−2,609	2,746		580	4,505¹
Other comprehensive income	−741	1,579		2,724	3,026¹
of which income tax effects	−767	439		−1,175	585
Total comprehensive income	50,016	41,796		130,749	114,113¹
(attributable to shareholders of Bechtle AG)

¹ Prior year adjusted

Bechtle AG Quarterly Statement as of 30 September 2020

12

CONSOLIDATED BALANCE SHEET

ASSETS						€k
		30.09.2020	31.12.2019		30.09.2019
Non-current assets
Goodwill		443,046		397,592			373,643
Other intangible assets	116,239	119,303		121,435
Property, plant and equipment	307,589	280,685		259,553
Trade receivables	57,351	38,148		29,997
Deferred taxes	7,047	3,914		4,589
Other assets	7,270	6,729		6,469
Total non-current assets		938,542	846,371		795,686
Current assets
Inventories	356,848	285,574		367,995
Trade receivables	714,621	862,323		735,117
Income tax receivables	2,210	2,022		860
Other assets	161,131	126,180		94,603
Time deposits and securities	40,001	0		0
Cash and cash equivalents	290,855	272,197		154,858
Total current assets	1,565,666	1,548,296		1,353,433
Total assets		2,504,208		2,394,667			2,149,119

Bechtle AG Quarterly Statement as of 30 September 2020

13

EQUITY AND LIABILITIES						€k
		30.09.2020	31.12.2019		30.09.2019
Equity
Issued capital		42,000		42,000			42,000
Capital reserves	124,228	124,228		124,228
Retained earnings	928,963	848,614		789,089
Total equity	1,095,191	1,014,842		955,317
Non-current liabilities
Pension provisions	32,086	30,702		19,579
Other provisions	10,547	10,081		11,848
Financial liabilities	423,740	373,874		376,923
Trade payables	11,406	13		17
Deferred taxes	37,676	33,180		40,571
Other liabilities	103,021	98,025		82,176
Contract liabilities	21,786	19,353		14,034
Deferred income	3,313	1,481		1,486
Total non-current liabilities		643,575	566,709		546,634
Current liabilities
Other provisions	15,465	12,805		15,286
Financial liabilities	22,582	13,801		13,219
Trade payables	357,566	406,807		312,826
Income tax payables	21,286	19,859		11,460
Other liabilities	207,335	231,776		177,363
Contract liabilities	108,869	105,369		90,171
Deferred income	32,339	22,699		26,843
Total current liabilities	765,442	813,116		647,168
Total equity and liabilities		2,504,208		2,394,667			2,149,119

Bechtle AG Quarterly Statement as of 30 September 2020

14

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

													€k
							Retained earnings
													Total equity
								Changes in			(attributable to
				Capital		Accrued		equity outside			shareholders of
		Issued capital		reserves		profits		profit or loss			Total		Bechtle AG)
Equity as of 1 January 2019		42,000		124,228		711,583		5,393			716,976		883,204
Distribution of profits for 2018						−42,000					−42,000		−42,000
Earnings after taxes					111,087					111,087		111,087
Other comprehensive income							3,0261			3,0261		3,0261
Total comprehensive income	0	0	111,087	3,026¹			114,113¹		114,113¹
Equity as of 30 September 2019	42,000	124,228	780,670	8,419			789,089		955,317
Equity as of 1 January 2020		42,000		124,228		840,067		8,547			848,614		1,014,842
Distribution of profits for 2019						−50,400					−50,400		−50,400
Earnings after taxes					128,025					128,025		128,025
Other comprehensive income							2,724			2,724		2,724
Total comprehensive income	0	0	128,025	2,724			130,749		130,749
Equity as of 30 September 2020	42,000	124,228	917,692	11,271			928,963		1,095,191
¹ Prior year adjusted

Bechtle AG Quarterly Statement as of 30 September 2020

15

CONSOLIDATED CASH FLOW STATEMENT

								€k
		01.07-		01.07-	01.01-		01.01-
		30.09.2020	30.09.2019		30.09.2020	30.09.2019
Operating activities
Earnings before taxes		71,673		57,027		180,787		157,741
Adjustment for non-cash expenses and income
Financial earnings		1,669	1,336		4,722	3,959
Depreciation and amortisation of intangible assets and property, plant
and equipment		24,205		21,339		72,102		59,573
Gains and losses on disposal of intangible assets and property, plant
and equipment		−846		−8		−831		−38
Other non-cash expenses and income		2,808	4,710		10,922	6,323
Changes in net assets
Changes in inventories		33,266		−6,583		−71,924		−85,850
Changes in trade receivables		26,330	38,761		124,738	28,194
Changes in trade payables		12,760		−37,710		−39,367		−63,471
Changes in deferred income		−9,107		−3,038		−401		526
Changes in other net assets		−11,818		−7,784		−54,200		−18,521
Income taxes paid		−18,209		−14,777		−54,490		−49,691
Cash flow from operating activities		132,731	53,273		172,058	38,745
Investing activity
Cash paid for acquisitions less cash acquired		−5,514		−4,784		−55,298		−23,697
Cash paid for investments in intangible assets and property, plant and equipment		−12,365		−4,626		−39,018		−44,714
Cash received from the sale of intangible assets and property, plant and equipment	5,144	1,813		9,467	2,654
Cash paid for acquisitions of time deposits and securities		0		0		−40,001		0
Cash received from the sale of time deposits and securities, and from redemptions
of non-current assets		0		0		0		5,542
Interest payments received		−713	340		−267	659
Cash flow from investing activities		−13,448		−7,257		−125,117		−59,556
Financing activities
Cash paid for the repayment of financial liabilities		−3,182		−3,321		−9,698		−9,922
Cash received from the assumption of financial liabilities		−6,815		5		68,345		5,917
Dividend paid		0		0		−50,400		−42,000
Interest paid		−619		−622		−877		−2,147
Outflow for the repayment of finance leases		−12,872		−6,914	−34,435		−23,498
Cash flow from financing activities		−23,488		−10,852		−27,065		−71,650
Exchange-rate-related changes in cash and cash equivalents		−1,774		1,316		−1,218		1,940
Changes in cash and cash equivalents	94,021	36,480		18,658		−90,521
Cash and cash equivalents at beginning of the period	196,834	118,378		272,197	245,379
Cash and cash equivalents at the end of the period		290,855		154,858		290,855		154,858

Bechtle AG Quarterly Statement as of 30 September 2020

16

FINANCIAL CALENDAR

Q U A R T E R LY S TAT E M E N T 3 R D Q U A R T E R 2 0 2 0 ( 3 0 S E P T E M B E R )

Wednesday, 11 November 2020

A N N U A L R E P O R T 2 0 2 0

Friday, 19 March 2021

A C C O U N T S P R E S S C O N F E R E N C E

Friday, 19 March 2021

A N A LY S T S ' C O N F E R E N C E

Friday, 19 March 2021

Q U A R T E R LY S TAT E M E N T 1 S T Q U A R T E R 2 0 2 1 ( 3 1 M A R C H )

Tuesday, 11 May 2021

A N N U A L G E N E R A L M E E T I N G

Tuesday, 15 June 2021

H A L F -Y E A R F I N A N C I A L R E P O R T 2 0 2 1 ( 3 0 J U N E )

Thursday, 12 August 2021

Q U A R T E R LY S TAT E M E N T 3 R D Q U A R T E R 2 0 2 1 ( 3 0 S E P T E M B E R )

Thursday, 11 November 2021

See bechtle.com/financial-calendarfor further dates and changes.

Bechtle AG Quarterly Statement as of 30 September 2020

Publisher/Contact

Bechtle AG

Bechtle Platz 1

74172 Neckarsulm

Germany

Investor Relations

Martin Link	Julia Hofmann	Ilka Freund
Phone [phone]	Phone [phone]	Phone [phone]
[e-mail]	[e-mail]	[e-mail]

The Quarterly Statement Q3/2020 was published on 11 November 2020.

Bechtle AG Quarterly Statement as of 30 September 2020

Bechtle AG

Bechtle Platz 1, 74172 Neckarsulm

Germany

Phone  [phone]

[e-mail]	Your strong IT partner.
bechtle.com	Today and tomorrow.