Despite the ongoing global supply bottlenecks, Bechtle AG again recorded considerable revenue and earnings growth in the third quarter of 2021. Revenue increased 9.1 per cent to €1,496.1 million, a high growth level similar to that of the prior year. Earnings before taxes (EBT) underwent disproportionately high growth of 21.4 per cent to €87.0 million. The EBT margin thus improved from 5.2 per cent to 5.8 per cent. As of 30 September 2021, Bechtle had 12,744 employees, 689 more than in the prior year.
Organically, the revenue growth amounted to 8.9 per cent. The EBT performance is largely operations-based. Additionally, there were positive special effects, e.g. from the sale of a group company. “The demand for IT solutions remains high, their availability in the current market situation is a decisive factor. The ability to supply has thus become a key competitive advantage. For this reason, we stepped up our stock levels at an early stage. In this context, we benefit both from our financial strength and from our excellent business relationships with manufacturers and distributors,” explains Dr. Thomas Olemotz, Chairman of the Executive Board of Bechtle AG.
Continued Positive Earnings Performance in System House Segment
From July to September 2021, Bechtle increased the revenue in the IT System House & Managed Services segment by 2.1 per cent to €937.2 million. Larger framework agreements, in particular, were affected more severely by the supply shortages. EBIT climbed by 23.3 per cent to €61.7 million, driven by the said special effects and a good project business performance. Accordingly, the EBIT margin went up from 5.5 per cent to 6.6 per cent.
E-Commerce Records Substantial Revenue Growth
In the IT E-Commerce segment, the revenue in the third quarter of 2021 went up by 23.4 per cent to €558.8 million. Apart from Germany, especially the companies in France, Benelux and the UK contributed to this growth. EBIT went up 14.6 per cent to €26.7 million. The EBIT margin was 4.8 per cent, after 5.1 per cent in the prior year. This development was mainly driven by the rebounding share of high-volume business.
New Record Number of Trainees
At 5.7 per cent, the headcount increase as of 30 September 2021 was again slightly more dynamic than it had been in the prior quarter. The number of apprentices and students on integrated degree programmes was especially remarkable. As of 30 September 2021, Bechtle had 709 young trainees, including 244 who had embarked on their training on 1 September, more than ever before.
Forecast for the Year Confirmed
Despite the continued difficult framework conditions, Bechtle AG performed very well in the first nine months of the current fiscal year. Revenue, earnings and margin are within the target corridor of our expectations for the year as a whole, which we had increased as of the end of the second quarter. Therefore, the Executive Board confirms the forecast for the year, which predicts significant revenue growth, very significant earnings growth and a EBT margin higher than in the prior year. “Our business model has proved especially successful in these challenging times. Despite the ongoing supply bottlenecks, our outlook for the future continues to be very bright,” says Dr. Thomas Olemotz.
