Bechtle AG Third Quarter 2015. Neckarsulm 11 November 2015 Our fourth decade: BECHTLE 4.0 Our future: INDUSTRY 4.0 Our latest figures: FINANCIAL STATEMENTS 4.0
Agenda. 1. Overall Economic Conditions 2. Business Development Q3 2015 3. Bechtle Share 4. News and Updates 5. Outlook 2015 11.11.15 Bechtle AG Third Quarter 2015 2
Overall Conditions Q3.2015. Macroeconomy. Overall EU economic conditions remain positive despite various crisis scenarios. The German economy is growing at a constant rate, although slower than the EU. Sector. Mixed signals continue in Q3: Volatile sentiment in IT industry. - PC market still in the red. - GULP IT project market index remains strong. Conclusion. The overall conditions are favourable, different signals from IT market. Bechtle has achieved excellent growth, remains well above the market average and gains market share. There is no indication of a decline in customers' investment appetite. 11.11.15 Bechtle AG Third Quarter 2015 3
Revenue Development. Group 2015 vs. 2014 +10.3% 2014 2015 +6.1% +13.6% +11.0% 1,809 1,995 587 622 604 686 618 686 Q1 Q2 Q3 9M [in m] High growth rate maintained in third quarter. 11.11.15 Bechtle AG Third Quarter 2015 4
Revenue Development. By Segment: Q3 2015 vs. Q3 2014 618 +11.0% 686 IT E-commerce 198 219 +10.6% IT SH & MS 421 468 +11.2% Q3.2014 Q3.2015 [in m] Growth rate nearly equal in both segments. 11.11.15 Bechtle AG Third Quarter 2015 5
Group Gross Margin. Development since 2012 15.3 15.1 15.0 15.3 14.7 14.8 15.2 15.1 14.9 14.9 15.4 15.1 14.7 15.2 14.4 Q1.12 Q2.12 Q3.12 Q4.12 Q1.13 Q2.13 Q3.13 Q4.13 Q1.14 Q2.14 Q3.14 Q4.14 Q1.15 Q2.15 Q3.15 [in %] Gross margin consistently at high level. 11.11.15 Bechtle AG Third Quarter 2015 6
EBIT Development and Margin. By Segment: Q3 2015 vs. Q3 2014 +10.5% Q3.2014 Q3.2015 +3.9% +22.8% 19.6 20.3 30.0 33.2 10.5 12.9 IT System House & Managed Services E-Commerce Total [in m] 4.6% 5.3% 4.3% 5.9% 4.9% 4.8% Notable performance increase within the group - strong E-Commerce margins. 11.11.15 Bechtle AG Third Quarter 2015 7
Group EBT Margin. Development since 2012 5.3 4.7 4.4 4.8 4.4 4.8 3.5 3.7 3.6 3.8 3.6 3.9 3.0 2.7 2.8 Q1.12 Q2.12 Q3.12 Q4.12 Q1.13 Q2.13 Q3.13 Q4.13 Q1.14 Q2.14 Q3.14 Q4.14 Q1.15 Q2.15 Q3.15 [in %] EBT margin on par with previous year. 11.11.15 Bechtle AG Third Quarter 2015 8
Group Employee Growth. Development since 2012 9.5% 8.9% 5,584 5,750 5,978 5,970 5,959 6,053 6,150 6,219 6,352 6,393 6,534 6,572 6,671 6,938 7,154 Q1.12 Q2.12 Q3.12 Q4.12 Q1.13 Q2.13 Q3.13 Q4.13 Q1.14 Q2.14 Q3.14 Q4.14 Q1.15 Q2.15 Q3.15 Employee figures continue to grow, topping 7,000 for the first time. 11.11.15 Bechtle AG Third Quarter 2015 9
Key Financial Figures. Return on equity* 14.5 14.6 9M.2014 9M.2015 Return on all assets* [in %] Cash and cash equivalents** 8.3 8.1 118.7 133.7 [* extrapolated on y-t-d base] Working capital [in m] 279.9 319.6 [** including time deposits and securities] Balance sheet ratios healthy. 11.11.15 Bechtle AG Third Quarter 2015 10
The Bechtle Share. Performance 85 2.1.15 65.67 30.9.15 80.54 6.11.15 83.98 Market Figures (6.11.15) Market capitalisation 1,764m 80 Performance (ytd) 75 70 65 Bechtle TecDAX (indexed) DAXsubsector IT Services (indexed) 60 J 15 F 15 M 15 A 15 M 15 J 15 J 15 A 15 S 15 O 15 N 15 - Bechtle - DAX - TecDAX - DAXsubsector IT Services +27.9 % +12.5 % +32.5 % +30.9 % Strong share rise in third quarter, reaching a new all-time high in October. 11.11.15 Bechtle AG Third Quarter 2015 11
The Latest Developments at Bechtle. Selected Examples from Q3/Q4 Bechtle Public Belgium NV was founded in Brussels specialised in trading business with public-sector customers. Bechtle IT System House Mannheim opened a branch in Saarbrücken close co-operation with Bechtle direct. Focus on customers in the German state of Saarland and the border regions of France and Luxembourg. Acquisition of Tritec GmbH: 23 employees, located in Künzelsau, strong presence in Hohenlohe economic region, close co-operation with IT System House Neckarsulm. 140 vocation trainees and university students join Bechtle total of 493 young persons in training; impressive 8% training rate in Germany. Bechtle again ranked number one among Germany's largest IT system houses. 11.11.15 Bechtle AG Third Quarter 2015 12
Economic Conditions. The IT Industry in 2015 Hardware -1.1% 14.8bn +2.9% 72.3bn Software +5.7 % 20.2bn Hardware -1.9% 68.3bn +2.1% 363.7bn Software +4.5 % 82.4bn IT Services +3.0% 37.3bn IT Services +2.5% 213.0bn Source: EITO, July 2015 Dynamic declines compared to previous year: DE: 2.9% (2014: 3.9%), EU: 2.1% (2014: 2.6%). Weak PC market pulls hardware market into the red. Situation more encouraging in other product groups and business notebooks. Software remains the driving growth factor. Industry developments must be monitored continuously. 11.11.15 Bechtle AG Third Quarter 2015 13
Outlook. 2015 Fiscal Year Revenue. High single-digit to low double-digit growth: Expansion of market share. IT System House: continue to drive the solutions and service business. Managed Services: expand long-term service agreements. IT E-Commerce: defend excellent competitive position. Earnings. Margin to be slightly improved. Employees. Additional, moderate growth beyond acquisitions. Expansion. Acquisitions remain an integral part of our growth strategy. Tap into new markets and gain new customers through international alliances. 11.11.15 Bechtle AG Third Quarter 2015 14
QUESTIONS? 11.11.15 Bechtle AG Third Quarter 2015 15