DGAP-News: Bechtle AG / Key word(s): Quarterly / Interim Statement/Quarter Results Bechtle Reports Impressive First Quarter 2021-05-11 / 07:30 The issuer is solely responsible for the content of this announcement. =---------------------------------------------------------------------------------------------------------------------- Bechtle Reports Impressive First Quarter - Revenue up 11.4 per cent to EUR1.51 billion - EBT grows 19.5 per cent - Cash flow maintains high level - Forecast confirmed Neckarsulm, 11 May 2021 - The first months of 2021 have seen a continuation of Bechtle AG's upward trajectory. In the first quarter of 2021, the IT company was able to step up its revenue by 11.4 per cent to EUR1,510.2 million despite the ongoing difficult conditions. Earnings before taxes (EBT) underwent disproportionately high growth of 19.5 per cent to EUR61.0 million. The EBT margin thus improved to 4.0 per cent. As of 31 March 2021, Bechtle had 12,306 employees, a year-on-year increase of 538. The revenue growth amounted to 12.4 per cent in Germany and to the very high level of 9.8 per cent at our locations abroad. Organic growth in the group's revenue amounted to 10.4 per cent. "We made a very strong start to the year. We were pleased to see that the growth was again broadly supported by the various regions, segments and customer groups", explains Dr. Thomas Olemotz, Chairman of the Executive Board of Bechtle AG. Above-Average Earnings Growth in System House Business In the IT System House & Managed Services segment, Bechtle increased its revenue in the first three months of 2021 by 13.1 per cent to EUR971.3 million. The organic growth rate was 11.4 per cent. The demand in the areas strategically expanded by Bechtle - such as modern workplace, IT security and multi-cloud solutions - remained very high. EBIT went up 26.4 per cent to EUR41.1 million. The EBIT margin rose from 3.8 per cent to 4.2 per cent. As well as cost savings made as a result of the coronavirus pandemic, this was also due to the higher efficiency achieved in the performance of services. E-Commerce Especially Strong in Germany In the IT E-Commerce segment, the revenue in the first quarter of 2021 grew by 8.5 per cent to EUR538.9 million. At 19.8 per cent, growth in Germany was particularly strong. One of the factors that contributed to this development was the high public-sector demand, especially in the field of education. Outside Germany, the revenue increased by 5.7 per cent, driven by the strong performance in France, Belgium and Austria. EBIT went up by 4.6 per cent to EUR21.1 million. The margin underwent a slight decline from 4.1 per cent to 3.9 per cent. This was due to the disproportionately high increase in material costs. Cash Positions Up In the first quarter of 2021, Bechtle AG's cash flow from operating activities largely reached the same high level as in the prior year. This item amounted to EUR20.6 million (prior year: 23.5 million). The free cash flow went up from EUR7.8 million to EUR11.8 million. As of the reporting date, the total liquidity was at a very comfortable level of EUR404.8 million. Forecast Confirmed Bechtle is optimistic about the rest of the year and confirms its forecast of a significant revenue and earnings increase along with a stable EBT margin. "Our business model has proved successful despite the uncertainties we are currently facing. However, the performance in the remaining part of the year will be greatly impacted by the ongoing supply shortage in the IT market and the development of the pandemic. The situation has seldom been as unpredictable as it is at the moment. Starting from the second quarter, our earnings will also be competing with the high reference figures of the prior year. Nevertheless, we stick to our generally positive outlook", says Dr. Thomas Olemotz. Bechtle KPIs for the First Quarter of 2021 Q1/2021 Q1/2020 +/- Revenue EURk 1,510,202 1,355,674 +11.4% Domestic EURk 931,542 828,748 +12.4% Abroad EURk 578,660 526,926 +9.8% IT System House EURk 971,303 859,116 +13.1% IT E-Commerce EURk 538,899 496,558 +8.5% EBIT EURk 62,134 52,627 +18.1% IT System House EURk 41,066 32,489 +26.4% IT E-Commerce EURk 21,068 20,138 +4.6% EBIT margin % 4.1 3.9 EBT EURk 60,988 51,055 +19.5% EBT margin % 4.0 3.8 Earnings after taxes EURk 43,624 36,468 +19.6% Earnings per Share EUR 1.04 0.87 +19.6% Cash flow from operating activities EURk 20,573 23,456^1 -12.3% Employees (as of 31.03.) 12,306 11,768 +4.6% 2021-03-31 2020-12-31 +/- Liquidity^* EURk 404,757 403,173 +0.4% Equity ratio % 44.8 43.2
^* Including time deposits and securities ^1 Prior year adjusted
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The interim report for the first quarter of 2021 is available for download at www.bechtle.com/reports.
About Bechtle: Bechtle AG has about 80 IT system houses in Germany, Austria and Switzerland. With its 24 e-commerce companies in 14 countries, Bechtle is one of Europe's leading online IT enterprises. Founded in 1983, the group is headquartered in Neckarsulm, Germany, and currently has more than 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, its revenue amounted to EUR5.82 billion. For more information, see bechtle.com.
Contact
Investor Relations Corporate Communication/Press Martin Link Sabine Brand martin.link@bechtle.com sabine.brand@bechtle.com Tel: +49 7132 981-4149 Tel: +49 7132 981-4115 -----------------------------------------------------------------------------------------------------------------------
2021-05-11 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: 1194742 End of News DGAP News Service =------------
1194742 2021-05-11
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May 11, 2021 01:31 ET (05:31 GMT)