DGAP-News: Bechtle AG / Key word(s): Final Results/Forecast
Optimistic Outlook for 2014
18.03.2014 / 10:15
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Bechtle AG: Optimistic Outlook for 2014
- Revenues up 8.4 per cent to EUR 2,273 million in 2013
- EBIT reaches EUR 91 million, 13.4 per cent above prior year
- Equity ratio improves to 55.1 per cent
- Dividend increases 10 per cent to EUR 1.10 per share
Neckarsulm, 18 March 2014 - In the fiscal year 2013, Bechtle AG generated
revenues of EUR 2,273.5 million, 8.4 per cent more than in the prior year
(EUR 2,096.8 million). Earnings before interest and taxes improved 13.4 per
cent, reaching a record figure of EUR 91.0 million. EBT amounted to
EUR 89.3 million, 13.0 per cent above the prior year. The EBT margin
climbed from 3.8 per cent to 3.9 per cent. Earnings per share amounted to
EUR 3.02, compared to EUR 2.68 in the prior year, an increase of 12.5 per
cent. The dividend is to be increased to EUR 1.10 (prior year: EUR 1.00).
For the fiscal year 2014, the Executive Board expects further revenue and
earnings growth.
"For Bechtle, the fiscal year 2013 was extremely successful. We generated
record figures, reaching the goals we had set: In terms of the revenue and
earnings, we outperformed the market and greatly surpassed our prior-year
figures. At the same time, we invested in the training of our employees,
thereby laying the foundation for further profitable growth," explains Dr.
Thomas Olemotz, Chairman of the Executive Board of Bechtle AG.
System House Segment Reports Two-Digit Growth
In the IT system house & managed services segment, the group generated
revenues of EUR 1,535.3 million in 2013 (prior year: EUR 1,394.5 million).
This represents an increase of 10.1 per cent. The segment benefited from
the high domestic demand, the good competitive position, the headcount
increase and the extensive qualification measures. With a revenue growth of
11.0 per cent, the domestic system house companies significantly expanded
their market share. In the system house segment, EBIT went up 26.8 per cent
to EUR 56.2 million (prior year: EUR 44.3 million). Accordingly, the EBIT
margin improved from 3.2 per cent to 3.7 per cent.
Trading Business Strong Abroad
In 2013, the revenue in the IT e-commerce segment increased 5.1 per cent to
EUR 738.2 million (prior year: EUR 702.4 million). The revenue increase was
mainly possible due to the good performance on the overseas markets. Here,
the revenue amounted to EUR 522.0 million, a year-on-year increase of
6.9 per cent (prior year: EUR 488.5 million). In the reporting period,
operating income amounted to EUR 34.9 million, 3.0 per cent below the
prior-year figure of EUR 35.9 million. The EBIT margin was 4.7 per cent,
compared to 5.1 per cent in the prior year, a level that is exceptionally
good for the industry. The slight decline was caused by the high price and
cost pressure as well as the product mix, which adversely affected the
margin in the year under review.
Comfortable Liquidity
The balance sheet of the Bechtle Group reveals a sound assets position and
financial structure. Cash and cash equivalents including time deposits and
securities increased 6.8 per cent from EUR 146.2 million to EUR 156.1
million. Bechtle's net debt was minus EUR 91.9 million. Thus, Bechtle is
effectively debt-free. In the reporting period, the equity increased
9.1 per cent from EUR 459.6 million to EUR 501.6 million. The equity ratio
went up from 54.5 per cent to 55.1 per cent. The return on equity improved
from 13.7 per cent in the prior year to 14.2 per cent in the year under
review. The cash flow from operating activities and the free cash flow also
picked up significantly in the reporting period.
Moderate Headcount Increase
As of 31 December 2013, the Bechtle Group had a total of 6,219 employees.
Compared to the prior year (5,970 employees), the headcount went up by 249
(plus 4.2 per cent). The increase was the result of acquisitions as well as
new recruitment, and the percentages were evenly distributed over the
segments and regions. As of the end of the year, Bechtle had 4,743
employees in Germany. All in all, this means 193 people more than in the
prior year (4,550 employees). The number of employees in other countries
increased from 1,420 to 1,476. Bechtle continues to invest intensively in
training. As of the end of the year, the group had a total of 473 young
trainees. This represents a 10.5-per-cent increase over 2012. The training
ratio in Germany amounted to an excellent 9.2 per cent.
Optimistic Outlook for 2014
In view of the sound economic situation and the group's strength, the
Executive Board currently expects the business performance of Bechtle AG in
this year to be positive and again above industry average. The revenue and
earnings of Bechtle AG in the first weeks of 2014 confirm the optimistic
outlook. "This year, Bechtle will again do everything necessary to continue
on its road to success. Our goal for 2014 is to achieve further revenue and
earnings growth and to gain market shares. As in the past, we want to make
progress both organically and through acquisitions," says Dr. Thomas
Olemotz.
<pre>
2013 2012 +/-
Revenue EURk 2,273,485 2,096,835 +8.4%
Domestic EURk 1,570,816 1,433,869 +9.6%
Abroad EURk 702,669 662,966 +6.0%
IT system house & managed services EURk 1,535,316 1,394,455 +10.1%
IT e-commerce EURk 738,169 702,380 +5.1%
EBIT EURk 91,048 80,265 1) +13.4%
IT system house & managed services EURk 56,185 44,320 1) +26.8%
IT e-commerce EURk 34,863 35,945 1) -3.0%
EBT EURk 89,308 79,001 1) +13.0%
EBT margin % 3.9 3.8
Earnings after taxes EURk 63,397 56,358 1) +12.5%
Earnings per share EUR 3.02 2.68 1) +12.5%
</pre>
<pre>
31.12.2013 31.12.2012 +/-
Cash flow from operating activities EURk 73,098 56,669 +29.0%
Cash and cash equivalents 2) EURk 156,105 146,155 +6.8%
Equity ratio % 55.1 54.5 1)
Number of employees 6,219 5,970 +4.2%
</pre>
1) Adjusted figure
2) Including time deposits and securities
***
The Annual Report 2013 is available for download at
www.bechtle.com/reports.
About Bechtle
As a one-stop IT provider, Bechtle is active with more than 65 system
houses in Germany, Austria and Switzerland and is one of Europe's leading
online IT dealers, with subsidiaries in 14 countries. Founded in 1983, the
company is headquartered in Neckarsulm, Germany, and currently has around
6,200 employees. Bechtle offers its more than 56,000 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 has been quoted at the stock exchange since 2000 and has
been listed in the TecDAX technology index since 2004.
Contact
Bechtle AG
Bechtle Platz 1
D-74172 Neckarsulm, Germany
Investor Relations Corporate Communications
Martin Link Sabine Brand
martin.link@bechtle.com sabine.brand@bechtle.com
Tel.: +49 (0) 71 32/ 9 81 41 49 Tel.: +49 (0) 71 32/ 9 81 41 15
Fax: +49 (0) 71 32/ 9 81 41 16
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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: www.bechtle.com
ISIN: DE0005158703
WKN: 515870
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
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256822 18.03.2014
DGAP-News: Optimistic Outlook for 2014
| Quelle: EQS Group AG