bechtle ag 2nd quarter and 1st half-year 20194e9872bb-df65-4374-ae79-c6953edd0c98/... · economic...
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Bechtle AG2nd Quarter and 1st Half-year 2019Neckarsulm | 09 August 2019
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Contents.
09/08/2019 Bechtle AG | 2nd Quarter 2019 2
1. Business development
2. Shares and dividends
3. News and updates
4. Outlook
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Revenue –Growth up slightly in Q2.
955 965
1,920
1,240 1,261
2,501
1st Quarter 2nd Quarter 1st Half-Year
20182019
in €m
+29.8% +30.7% +30.2%
09/08/2019 Bechtle AG | 2nd Quarter 2019 3
+15.3%* +16.9%* +16.1%** organic
growth
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Revenue –Organic growth balanced between segments.
677
288
965815
446
1,261
IT SH & MS IT E-commerce Group
Q2.2018Q2.2019
in €m
+20.4% +54.8% +30.7%
09/08/2019 Bechtle AG | 2nd Quarter 2019 4
+17.2%* +16.4%* +16.9%** organic
growth
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Gross margin –Under growth-related pressure.
15.8
Q2.16
15.7
Q2.18Q2.17 Q2.19
15.6
14.3
in %
09/08/2019 Bechtle AG | 2nd Quarter 2019 5
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EBIT –Very strong growth in earnings continues in Q2.
35.743.9
79.6
46.357.1
103.3
1st Quarter 2nd Quarter 1st Half-year
20182019
in €m
09/08/2019 Bechtle AG | 2nd Quarter 2019 6
+29.6% +30.0% +29.8%
3.7% 3.7% 4.1% 4.1% 4.5% 4.5% Margin
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EBIT –Strong increase in earnings in E-commerce.
28.8
15.1
43.934.3
22.8
57.1
IT SH & MS IT E-commerce Group
Q2.2018Q2.2019
Margin
09/08/2019 Bechtle AG | 2nd Quarter 2019 7
4.5% 4.5% 4.2% 4.2% 5.3% 5.1%
+19.2% +50.5% +30.0%
in €m
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Employees –Headcount up due to acquisitions and organic growth.
Q4.18 Q1.19Q2.18 Q3.18 Q2.19
8,790
9,65110,005
10,915
10,334
+2,125 employees=24.2%
09/08/2019 Bechtle AG | 2nd Quarter 2019 8
+581 employees=5.6%
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Key financial figures.
09/08/2019 Bechtle AG | 2nd Quarter 2019 9
17.1
42.7
15.1
56.5
Return on equity*
Equity ratioH1.2018
H1.2019
in %
118.4
704.3
250.9
580.8
Liquidity**
Working Capital31.12.2018
30.06.2019
in €m ** including time deposits and securities
* annualised based on H1,linearised projection
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Bechtle Share –Volatile performance with new all-time high.
Bechtle AG | 2nd Quarter 2019 10
Performance ytd
Bechtle +41.0%
MDAX* +16.4%
TecDAX* +13.8%
DAX* +10.3%
*indexed
31/12/2018€67.85
07/08/2019€95.65
10
60 €
70 €
80 €
90 €
100 €
110 €
J 19 F 19 M 19 A 19 M 19 J 19 J 19 A 19
28/06/2019€101.00
09/08/2019
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Dividends –Ninth rise in a row.
09/08/2019 Bechtle AG | 2nd Quarter 2019 11
30
5055
6070
75
90
2015 20162012
37.5
2009 2010 2011 20142013 2017 2018
50
100
Dividendin € cent
| 12
1Bechtle AG | 2nd Quarter 201909/08/2019
Growth IBoost to Managed Services on 01/04.320 employees join Bechtle Onsite Services from IBM.Bechtle delivers services on behalf of IBM.Onsite Services is largest Bechtle Group subsidiary with 900 employees.
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Growth IIAcquisition of the Swiss company, Alpha Solutions. Another software specialist in ERP and CRM projects in addition tocloud solutions. Alpha Solutions employs 74 staff.2018 revenue: 11.2 million Swiss Francs. 2
09/08/2019 Bechtle AG | 2nd Quarter 2019 13
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Growth IIIBechtle direct opens new branch in Manchester. The additional office complements our activities in Chippenham, in the South of England, and strengthens growth in the UK.3
09/08/2019 Bechtle AG | 2nd Quarter 2019 14
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Outlook fiscal year 2019 –Economic conditions remain challenging.
09/08/2019 Bechtle AG | 2nd Quarter 2019 15
Economic conditions.
Economic atmosphere and business activity in Europe and Germany is weakening tangibly and steadily.
IT market amazingly (still!) “stable” — Bechtle’s growth is unaffected.
Organic growth in H2.2019 to be potentially weaker due to economic slowdown.
Forecast.
Revenue and earnings: Very significant growth in terms of revenue and earnings, including acquisitions.
Margin: EBT margin (pre-PPA) at least at prior-year level.
|09/08/2019 Bechtle AG | 2nd Quarter 2019 16
Any questions?
For more information:bechtle.com