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. 
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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

***

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 
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1194742 2021-05-11


 
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May 11, 2021 01:31 ET (05:31 GMT)