DGAP-News: Bechtle AG / Key word(s): Final Results/Dividend
Bechtle AG Presents Record Figures for 2014
13.03.2015 / 10:15
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Bechtle AG Presents Record Figures for 2014
- Revenue in 2014 up 13.5 per cent to EUR2,580 million
- EBIT reaches EUR108.5 million, 19.2 per cent above prior year
- Proposed dividend rises to EUR1.20
Neckarsulm, 13 March 2015 - In the fiscal year 2014, Bechtle AG generated
revenue of EUR2,580.4 million, 13.5 per cent more than in the prior year
(EUR2,273.5 million). Earnings before interest and taxes (EBIT) improved
19.2 per cent to EUR108.5 million, significantly surpassing the
EUR100-million mark for the first time. EBT amounted to EUR107.4 million,
20.2 per cent above the prior year. The EBT margin climbed from 3.9 per
cent to 4.2 per cent. Earnings per share amounted to EUR3.63, compared to
EUR3.02 in the prior year. The dividend is to be increased to EUR1.20
(prior year: EUR1.10).
"We are looking back at an outstanding fiscal year. Over the entire period,
we experienced a remarkably dynamic development with two-digit growth
rates, even in the final quarter. We have again gained market shares. The
broad-based increase achieved in both segments is very encouraging. We are
proud of this outstanding achievement, to which the entire Bechtle team
contributed," explains Dr. Thomas Olemotz, Chairman of the Executive Board
of Bechtle AG.
EBIT Margin in System House Business at Record Level
In the IT system house & managed services segment, the group generated
revenue amounting to EUR1,727.1 million, 12.5 per cent more than in 2013
(EUR1,535.3 million). The segment recorded growth in all fields of activity
- from managed services to the conventional project business. At 13.2 per
cent, the growth was particularly strong in Germany. In the previous years,
Bechtle had systematically invested in employees and in the portfolio,
enabling optimum exploitation of the high and broadly based customer demand
in the reporting period. In 2014, EBIT in the system house business climbed
22.6 per cent to EUR68.9 million (prior year: EUR56.2 million). This was
also due to the fact that the increase in personnel expenses was only below
average. Accordingly, the EBIT margin increased and reached the mark of 4.0
per cent for the first time (prior year: 3.7 per cent).
IT E-Commerce Invests in the Future
The IT e-commerce segment was the growth driver in 2014. Revenue increased
15.6 per cent to EUR853.4 million (prior year: EUR738.2 million). Abroad,
Bechtle recorded an excellent growth of 17.2 per cent to EUR611.7 million
(prior year: EUR522.0 million). All national subsidiaries and all brands
contributed to the growth. The domestic trading companies also achieved a
two-digit growth rate of 11.8 per cent to EUR241.7 million (prior year:
EUR216.2 million). EBIT rose 13.6 per cent to EUR39.6 million (prior year:
EUR34.9 million). Due to growth-induced recruitment especially in the final
quarter, the EBIT margin receded slightly, but nevertheless reached
an excellent level of 4.6 per cent (prior year: 4.7 per cent).
Sound Balance Sheet as the Basis for Further Growth
The balance sheet KPIs of Bechtle AG indicate a sound, strong asset and
financial structure. On this basis, it will be possible to quickly and
flexibly finance further growth, both organically and through acquisitions.
Cash and cash equivalents including time deposits and securities totalled
EUR156.0 million, almost the same as in the prior year. The equity ratio
amounted to a comfortable 54.5 per cent. The net debt of Bechtle AG is
minus EUR95.8 million, i.e. Bechtle is free of debt. The return on equity
reached an excellent value of 15.6 per cent. The cash flow from operating
activities and the free cash flow are also clearly positive and underline
the fact that Bechtle has managed to generate the funds needed for growth
under its own steam.
Employee Base Expanded
As of 31 December 2014, Bechtle had 6,572 employees. Compared to the prior
year with 6,219 employees, the total workforce grew by 353, an increase of
5.7 per cent. The headcount increase is the result of two smaller
acquisitions and, most importantly, new recruitment. At 11.2 per cent, the
IT e-commerce segment grew faster than system house & managed services,
which went up 4.3 per cent. Bechtle continues to invest consistently in
training. As of the end of the year, the group had a total of 455 young
trainees. The training ratio in Germany amounted to a good 8.2 per cent.
Slackening Dynamics Expected in 2015
In view of the optimistic forecasts for the economic situation in Germany
and the EU, the Executive Board expects the performance as a whole to be
good in 2015. However, the impulses from the IT market will be weaker than
in the reporting period. Especially the situation on the hardware market is
challenging. Nevertheless, the company expects the business performance to
remain positive and significantly above the industry average. "In the last
two years, Bechtle grew at an impressive rate. However, we expect the
growth dynamics in 2015 to be weaker than in the reporting period.
Nevertheless, we intend to continue to increase our revenue and earnings
and gain market shares in the current year," says Dr. Thomas Olemotz.
Bechtle KPIs 2014
<pre>
2014 2013 +/-
Revenue EURk 2,580,448 2,273,485 +13.5%
Domestic EURk 1,775,409 1,570,816 +13.0%
Abroad EURk 805,039 702,669 +14.6%
IT system house EURk 1,727,073 1,535,316 +12.5%
IT e-commerce EURk 853,375 738,169 +15.6%
EBIT EURk 108,498 91,048 +19.2%
IT system house EURk 68,907 56,185 +22.6%
IT e-commerce EURk 39,591 34,863 +13.6%
EBIT margin % 4.2 4.0
EBT EURk 107,385 89,308 +20.2%
EBT margin % 4.2 3.9
Earnings after taxes EURk 76,194 63,397 +20.2%
Earnings per share EUR 3.63 3.02 +20.2%
Number of employees (average) 6,421 6,072 +5.7%
</pre>
<pre>
31.12.2014 31.12.2013 +/-
Cash flow from operating activities EURk 55,965 73,098 -23.4%
Liquidity* EURk 156,000 156,105 -0.1%
Equity ratio % 54.5 55.1
Employees 6,572 6,219 +5.7%
</pre>
* including time deposits and securities
***
The Annual Report 2014 is available for download at bechtle.com/reports.
About Bechtle
As a one-stop IT provider, Bechtle AG is active with over 65 system houses
in Germany, Austria and Switzerland and is one of Europe's leading online
dealers for information technology, with subsidiaries in 14 countries. This
combination forms the basis of Bechtle's trend-setting business model,
which links IT services to the conventional marketing of IT products.
Established in 1983 and headquartered in Neckarsulm, Germany, the company
offers a one-stop, vendor-independent, comprehensive IT portfolio to its
more than 75,000 customers from the fields of industry and trade, the
public sector and the financial industry. Bechtle has been quoted on the
stock exchange since 2000 and has been listed in the TecDAX technology
index since 2004. In the fiscal year 2014, the group generated revenue of
approximately EUR2.6 billion.
Contact
Bechtle AG
Bechtle Platz 1
D-74172 Neckarsulm, Germany
Investor Relations Corporate Communications/Press
Martin Link Sabine Brand
martin.link@bechtle.com sabine.brand@bechtle.com
Phone: +49 7132 981-4149 Phone: +49 7132 981-4115
Fax: +49 7132 981-4116 Fax: +49 7132 981-4116
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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: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart
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332583 13.03.2015
DGAP-News: Bechtle AG Presents Record Figures for 2014
| Quelle: EQS Group AG