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Your strong IT partner.
Today and tomorrow
Bechtle AG
Neckarsulm, 08 August 2014
2ND QUARTER 2014
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2 | Bechtle AG | 08 August 2014
General economic conditions
Business development in Q2 2014
The Bechtle share
Dividends
Forecast for 2014
AGENDA.
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3 | Bechtle AG | 08 August 2014
GENERAL CONDITIONS.
Q2 2014
Macroeconomy.
The EU continues its upwards economic trend. Growth in Bechtle countries ranged from 0.1% in
Portugal and 1.1% in Poland.
Economic growth in Germany slowed slightly with a 0.3 % increase in GDP.
Sector.
The IT sector showed consistent improvement throughout the second quarter.
The PC market in Europe continued its strong growth.
Sentiment in the IT sector remains optimistic.
Conclusion.
Bechtle’s performance in this economic context has been excellent. The company has achieved
above-average profitable growth in all regions and both business segments.
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4 | Bechtle AG | 08 August 2014
514587
REVENUE DEVELOPMENT.
I
519604
[€ m.]
Q1
+15.3%
Q2
Growth rate has picked up in Q2.
1.0321.190
H1
2013 2014
+14.2% +16.4%
Consolidated 2014 vs. 2013
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5 | Bechtle AG | 08 August 2014
[€ m.]
352403
167 200
519604
Total
Q2 2013 Q2 2014
+14.6% +20.2%
Abroad
Two-digit growth abroad and domestically.
REVENUE GROWTH.
By Region: Q2 2014 vs. Q2 2013
+16.4%
Domestic
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6 | Bechtle AG | 08 August 2014
[€ m.]
343389
175215
519604
Total
Q2 2013 Q2 2014
+13.3% +22.6%
IT E-commerce
IT e-commerce drives growth.
REVENUE GROWTH.
By Segment: Q2 2014 vs. Q2 2013
+16.4%
IT System House &
Managed Services
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7 | Bechtle AG | 08 August 2014
14.4 14.9 14.815.8 15.3 15.1 15.0 15.3
14.7 14.8 15.2 15.1 14.9 14.9
Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1.13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14
GROUP GROSS MARGIN.
Development since Q1 2011
[in %]
Gross margin remains consistently high.
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8 | Bechtle AG | 08 August 2014
7.310.4
IT E-Commerce
[€ m.]
3.3%
2.2%
Ma
rgin
4.8%
4.2%
Ma
rgin
Outstanding margin development in both segments.
7.7
13.0
IT System House &Managed Services
Q2 2013 Q2 2014
+69.3% +41.9%
+55.9%
15.0
23.3
Total
3.9%
2.9%
Ma
rgin
EARNINGS GROWTH (EBIT).
By Segment: Q2 2014 vs. Q2 2013
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9 | Bechtle AG | 08 August 2014
4,875
5,1395,357
5,4795,584
5,750
5,978 5,970 5,9596,053
6,150 6,2196,352 6,393
Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14
GROUP EMPLOYEE GROWTH.
Growth since Q1 2011
Continued increase in number of hired employees.
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10 | Bechtle AG | 08 August 2014
+1.7%
[€ m.]
113.5
156.1
Liquidity*
[* including time deposits and securities]
-27.3%
Q2 2014 Q2 2013
Return on
equity % 13.1 9.3
Return on total
assets % 7.4 5.5
SELECTED KEY FINANCIAL FIGURES.
30/06/2014 vs. 31/12/2013
510.2
501.6
Equity
31.12.2013 30.06.2014
High equity ratio of 57.6%. Return on assets significantly better than previous year.
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11 | Bechtle AG | 08 August 2014
THE BECHTLE SHARE.
Performance
45 €
50 €
55 €
60 €
65 €
Jan. 14 Feb. 14 Mrz. 14 Apr. 14 Mai. 14 Jun. 14 Jul. 14
02/01/14
€49.33
31/07/14
€58.15
Bechtle
TecDAX (indexed)
DAXsubsector IT Services (indexed)
Share Price Stays High.
Market Figures (31/07/2014)
Market capitalisation1,221 million
euros
Performance (ytd)
- Bechtle
- DAX
- TecDAX
- DAXsubsector
IT Services
17.9%
0.1%
4.4%
5.2%
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12 | Bechtle AG | 08 August 2014
5.29.0 12.0
18.625.3
29.3 29.6
41.045.4
34.3
46.4
62.756.4
63.4
Earnings after taxes
in € m.
Dividends
in € cents
DIVIDEND POLICY.
Continuity
Total shareholder return in 2014: 20%, dividend payout ratio: 36.4%.
25 25 2530
40
50 50
60 60 60
75
85
100
110
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
15
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13 | Bechtle AG | 08 August 2014
THE LATEST DEVELOPMENTS AT BECHTLE.
News and Updates for Q2 2014.
New Subsidiary in Belgium.
Bechtle opened a new ARP e-commerce subsidiary in Belgium.
Outstanding Sales Performance.
Deutsche Bahn: general contract for mobile devices and services.
State of Baden-Württemberg: general contract for the complete portfolio of Apple products, consulting
and IT services.
International Alliance with ATEA.
Bechtle gains access to markets in Scandinavia and Baltic states with cooperation agreement with
ATEA.
Second international alliance after agreement with PC Connection in US.
New deal enables comprehensive customer service across international borders.
Focus on commerce.
Further alliances planned.
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14 | Bechtle AG | 08 August 2014
THE LATEST DEVELOPMENTS AT BECHTLE.
News and Updates for 2014.
General Meeting and New Appointments.
General assembly elects Dr Matthias Metz to supervisory board.
In turn, the supervisory board appoints Dr Matthias Metz as chairman, who replaces the interim
chairman and co-founder Gerhard Schick.
Board members Michael Guschlbauer and Jürgen Schäfer sign a 5-year contract extension ahead of
schedule.
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15 | Bechtle AG | 08 August 2014
+2.5%
€70.6 bn+3.0%
€351.7 bn
DACH Region
As a whole, the IT market is projected to grow 2.6 % to €92.7 bn (PY: +1.6 %).
Hardware is again expected to decrease, this time by -2.8%.
IT services are expected to grow +3.1%.
At +5.4%, software is seen as a growth catalyst.
Hardware
-2.8%
€13.8 bn
Software
+5.3%
€19.1 bn
IT services
+3.2%
€37.7 bn
Hardware
-1.8%
€65.8 bn
Software
+4.2%
€78.0 bn
IT services
+2.5%
€205.0 bn
Source: EITO (June 2014)
GENERAL ECONOMIC CONDITIONS.
IT Sector 2014.
Hardware is expected to decrease, while software and services drive growth.
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16 | Bechtle AG | 08 August 2014
FORECAST.
2014 Fiscal Year
Revenue.
Continued growth at an above-market-average rate in 2014.
Significant gains over the previous year.
Further expansion of the solutions and service business.
Earnings.
Increased earnings and improved margin.
Employees.
Moderate growth (excluding new employees through acquisitions).
Expansion.
We remain open to further acquisitions as part of our growth strategy.
Economic Situation.
Market sentiment is gloomy – the Ifo Business Climate Index has shown a three-month downward trend.
Despite that, the economic outlook is positive.
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Your strong IT partner.
Today and tomorrow
Contact:
Corporate Communications
Sabine Brand Tel.: +49 7132 981-4115, [email protected]
Investor Relations
Martin Link Tel.: +49 7132 981-4149, [email protected]