DGAP-News: Bechtle AG / Key word(s): Annual Results/Annual Report 
Bechtle continues to grow 
2021-03-19 / 10:15 
The issuer is solely responsible for the content of this announcement. 
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Bechtle continues to grow 
- Revenue grows 8.3 per cent to EUR5.82 billion 
- EBT increases by 14.6 per cent 
- Dividend set to increase to EUR1.35 
- Positive outlook for 2021 
Neckarsulm, 19 March 2021 - Despite the difficult general economic conditions in the financial year 2020, Bechtle AG 
set new records. Revenue grew 8.3 per cent to EUR5,819.2 million. Earnings before taxes (EBT) increased 14.6 per cent to 
EUR270.7 million. The EBT margin increased from 4.4 per cent in the previous year to 4.7 per cent. At the same time, 
year-end liquidity and cash flow recorded new records. Bechtle also reported positive developments with respect to 
staff numbers: As of 31 December, 12,180 people were employed at Bechtle, which is 693 more than in the previous year. 
Organic sales growth amounted to 7.1 per cent. One of the key drivers was the public sector. Revenues in this customer 
segment exceeded the EUR2 billion mark for the first time ever in 2020. However, across the Group, development in the 
regions and segments varied considerably. Outside the DACH region in particular, measures to combat the COVID-19 
pandemic were more restrictive in many countries, which took its toll on the regional Bechtle companies. "Our very 
pleasing growth in the past year is, on the one hand, an expression of our robust business model, but it is also the 
result of the outstanding work, great drive for success and solution focus of our employees," says Dr Thomas Olemotz, 
CEO of Bechtle AG. To honour the extraordinary performance of staff, the Board has decided to pay all employees 
throughout the Group a bonus of EUR500. 
System House business sees double-digit growth 
The IT System House & Managed Services segment saw double-digit growth in 2020 as it increased revenue 10.9 per cent to 
EUR3,863.6 million. Organic growth amounted to 9.1 per cent. The companies in Austria and Switzerland performed 
particularly strongly with growth of 22.8 per cent. Domestically, the growth rate was in the high single-digit 
percentage range at 8.9 per cent. The most pressing needs of customers from industry and the public sector as a result 
of the pandemic particularly affected the strategically important areas of Modern Workplace and IT Security, as well as 
Multi-Cloud Solutions, which Bechtle has expanded considerably in recent years. Thanks to its broad range of expertise, 
decentralised structure, customer proximity and close contacts with vendors, Bechtle was able to position itself very 
successfully here. EBIT increased 19.8 per cent to EUR179.5 million. The EBIT margin increased from 4.3 per cent to 4.6 
per cent. 
E-Commerce has a high margin 
The IT E-Commerce segment increased its revenue in 2020 3.5 per cent to EUR1,955.7 million. In the reporting year, 
Germany was less heavily affected by the pandemic than other European countries. For that reason, domestic companies 
performed considerably better. Their revenue increased 17.0 per cent to EUR415.9 million. In other countries, companies 
recorded a growth rate of 0.4 per cent. However, following an extremely challenging second quarter of 2020, all 
companies were able to catch up in the two subsequent quarters and achieve their goals. EBIT in the segment increased 
6.5 per cent to EUR97.5 million. The margin improved from 4.8 per cent to 5.0 per cent. 
Strong increase in cash flow and liquidity 
In 2020, Bechtle continued to successfully implement measures for optimising cash flow and working capital. This is a 
huge success, in particular given the difficult economic conditions in the reporting year. Working capital increased 
only 0.8 per cent, a disproportionately low level. In relation to revenue it fell pleasingly from 12.1 per cent to 11.2 
per cent. This positive development was also evident in cash flow. As of the balance sheet date, the cash flow from 
operating activities increased to EUR316.3 million, and free cash flow is almost EUR100 million above the previous year's 
level at EUR202.9. 
Dividend set to increase 12.5 per cent 
Due to the excellent results and the extremely comfortable liquidity situation, Bechtle AG is proposing to the General 
Meeting that the dividend be increased by 12.5 per cent to EUR1.35 per share. This would be the eleventh increase in 
succession, evidencing the reliable dividend policy and appropriate involvement of shareholders in the company's 
success. 
The financial year 2021 will be challenging 
While the general economic picture is more positive at the start of 2021 than it was in the reporting year, there 
continues to be great uncertainty in relation to further economic development, both in Germany and in Europe. The 
continuation of the pandemic and the associated effects on the economic environment cannot be reliably predicted. In 
addition, the supply situation throughout the IT sector is very strained. Nevertheless, the Executive Board expects the 
business performance of Bechtle to remain positive and above the industry average. Revenue and results are set to 
increase considerably, while the EBT margin is expected to stay at the high level of 2020. "Our goals for the current 
financial year are ambitious. We saw considerable cost savings in 2020 as a result of the pandemic, which are not 
sustainable to this extent. We are nevertheless optimistic about the current financial year. Bechtle is very well 
positioned to achieve profitable growth even in economically challenging times," says Dr Thomas Olemotz. 
Bechtle key figures 2020 
                              2020      2019    +/- 
Revenue               EURk 5,819,243 5,374,453  +8.3% 
  Domestic            EURk 3,660,955 3,336,529  +9.7% 
  Abroad              EURk 2,158,288 2,037,924  +5.9% 
  IT System House     EURk 3,863,574 3,485,037 +10.9% 
  IT E-Commerce       EURk 1,955,669 1,889,416  +3.5% 
EBIT                  EURk   276,955   241,370 +14.7% 
  IT System House     EURk   179,451   149,832 +19.8% 
  IT E-Commerce       EURk    97,504    91,538  +6.5% 
EBIT margin            %       4.8       4.5 
EBT                   EURk   270,705   236,320 +14.6% 
EBT margin             %       4.7       4.4 
Earnings after taxes  EURk   192,547   170,484 +12.9% 
Earnings per share     EUR      4.58      4.06 +12.9% 
                          31.12.2020 31.12.2019    +/- 
Operational cash flow  EURk    316,254    185,973 +70.1% 
Liquidity^*            EURk    403,173    272,197 +48.1% 
Equity ratio            %       43.2       42.4 
Employees                     12,180     11,487  +6.0% 

^* incl. capital and security investments

***

The 2020 Annual Report can be downloaded at bechtle.com/reports. We also publish a Sustainability Report simultaneously at bechtle.com/sustainability. About Bechtle: Bechtle AG has about 80 IT system houses in Germany, Austria and Switzerland. With 24 e-commerce companies in 14 countries, Bechtle is one of Europe's leading online IT enterprises.. Founded in 1983, the group, which has its headquarters in Neckarsulm, Germany, currently has over 12,000 employees. Bechtle offers its 70,000+ 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 is listed in the MDAX and TecDAX indexes. In 2020, the company's revenue amounted to about EUR5.82 billion. More at: bechtle.com

Contact


Investor Relations      Corporate Communications/Press 
Martin Link             Sabine Brand 
martin.link@bechtle.com sabine.brand@bechtle.com 
Tel: +49 7132 981-4149  Tel: +49 7132 981-4115 ----------------------------------------------------------------------------------------------------------------------- 

2021-03-19 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de -----------------------------------------------------------------------------------------------------------------------


Language:     English 
Company:      Bechtle AG 
              Bechtle Platz 1 
              74172 Neckarsulm 
              Germany 
Phone:        +49 7132 981-0 
Fax:          +49 7132 981-8000 
E-mail:       ir@bechtle.com 
Internet:     bechtle.com 
ISIN:         DE0005158703 
WKN:          515870 
Indices:      MDAX, TecDAX 
Listed:       Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, 
              Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange 
EQS News ID:  1176561 
 
End of News   DGAP News Service 
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1176561 2021-03-19

(END) Dow Jones Newswires

March 19, 2021 05:16 ET (09:16 GMT)