Corporate | 28 March 2007 10:14
Bechtle AG / Final Results Release of a Corporate-announcement, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Bechtle tipped for further success: Increase in revenue and above-average growth in earnings Revenue increased to 1.22 thousand million Euros, earnings before taxes grew 11.4 per cent to a new record / improved EBT margin / further growth expected for 2007 Stuttgart/Neckarsulm 28.03.2007 – The Bechtle AG reached a new all-time high in revenue and EBT for the 2006 business year. The largest IT system house increased its revenue by 3.6 per cent to 1.22 thousand million Euros (previous year: 1.18 thousand million Euros). Therewith, revenue, in line with the last published plan, lies at 1.2 thousand million Euros. The EBT grew disproportionately high at 11.4 per cent, from 41.2 million Euros to 45.9 million Euros. Thus the plan of 42 million Euros could be clearly exceeded after an outstanding final quarter. The EBT margin improved from 3.5 to 3.8 per cent. The profit after taxes was 30.7 million Euros, after 29.3 million Euros the previous year (plus 4.9 per cent). The earnings per share increased by 4.9 per cent to 1.45 Euros (previous year: 1.38 Euros). 'We invested a lot of energy into implementing important structural changes and strategic measures for the expansion of our market position in 2006. The fact that we simultaneously attained growth above market level and improved our profits shows just how strong Bechtle is', explained Ralf Klenk, Chairman of Bechtle AG, at the presentation of the financial statements in Stuttgart. The IT system house sector contributed 67.0 per cent to the total revenue. The remaining 33.0 per cent came from the IT E-commerce sector. On 31.12.2006, Bechtle had 3,888 employees nation-wide across 9 countries (previous year: 3,908). Expansion Strategy in E-commerce Bechtle could fund the reduced capital expenditure, from 26.8 million Euros down to 22.4 million Euros, from their own resources. 9.5 million Euros affected acquisitions; the left over capital expenditure includes the planned replacement and expansion capital expenditure and the optimisation of the inventory control system and the online trading-platform in order to implement the international expansion strategy of the E-commerce subsidiary, ARP. It is planned that ARP will enter the French market in May. 'We are pursuing our multi-brand strategy in E-commerce. In the future we want ARP to be present in all those countries in which ‘Bechtle direkt’ already has a strong presence', said Klenk. Sound Financial and Assets Position The cash and cash equivalents amounted to 39.4 million Euros at the end of 2006 (previous year: 51.9 million Euros). Besides capital expenditure, liabilities repayments contributed to the funds outflow. The equity rose by 6.1 per cent to 252.0 million Euros (previous year: 237.4 million Euros). The Bechtle Group’s equity ratio improved from 57.4 per cent to 60.0 per cent. 'Our liquidity resources continue to be outstanding. Together with a free credit line of 43.0 million Euros, we had as of the reference date 31 December a comfortable liquidity reserve of 82.4 million Euros. This provides us with ample opportunity for further growth', emphasised Klenk. Continuity with Dividends The Executive Board and the Supervisory Board will suggest a dividend of 50 cents per share at the annual general meeting on 21 June 2007. 'Since the IPO in 2000, Bechtle has involved its shareholders in its business successes. Our dividend yield is ranked among the best in TecDAX. This makes our shares interesting to investors, regardless of price development', said Klenk. From Bechtle AG’s dividend entitled assets of 21.2 million Euros, there is a distributed amount of 10.6 million Euros. The distribution quota amounts to 34.6 per cent of the group profit. Positive Expectations for 2007 This year, Bechtle has prioritised the complete establishment of strategic, structural and organisational measures that were partly implemented in the previous year. The Executive Board assumes that 2007 will hold continuing positive revenue trends and growth in earnings. The revenue should increase from 1.30 to 1.35 thousand million Euros. Bechtle expects an EBT of around 48 million Euros. 'We are prepared to set the course in the IT world of SMBs. I see the chance not only to maintain our position as the leading IT partner of SMBs, but to expand it through our focus on Managed Services and the take-over of IT operations for the customer. I am convinced that there is no other company that is as well suited for the challenges of the future as Bechtle' said Ralf Klenk.in th. Euros 2006 2005 Change Revenue 1,220,138 1,178,269 + 3.6% Domestic 815,876 784,169 + 4.0% Abroad 404,262 394,100 + 2.6% IT System house 816,998 811,042 + 0.7% IT e-commerce 403,140 367,227 + 9.8% EBITDA 60,186 53,121 + 13.3% EBIT 45,730 41,195 + 11.0% IT system house 22,597 18,607 + 21.4% IT e-commerce 23,133 22,588 + 2.4% EBT 45,859 41,172 + 11.4% Earnings after taxes 30,725 29,286 + 4.9% EPS (in euros) 1.45 1.38 + 4.9% Equity ratio (in %) 60.0 57.4 + 4.6% Workforce (31.12.) 3,888 3,908 - 0.5%*** The 2006 business report can be downloaded at www.bechtle.com. We are happy to send a printed german version on request. Contact: Bechtle AG Martin Link Investor Relations Phone: +49 (0) 7132/981-4149 Fax: +49 (0) 7132/981-4116 martin.link@bechtle.com DGAP 28.03.2007 ---------------------------------------------------------------------- Language: English Issuer: Bechtle AG Bechtle Platz 1 74172 Neckarsulm Deutschland Phone: +49 (0)71 32/ 9 81-0 Fax: +49 (0)7132/ 9 81 - 80 E-mail: ir@bechtle.com www: www.bechtle.com ISIN: DE0005158703 WKN: 515870 Indices: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-Bremen, Hannover, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------