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DGAP-News: Bechtle held up well in 2009


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Bechtle held up well in 2009
– Low drop in sales to 1.38 billion euros (-3.6%): domestic
Services business, and public Contracting work
– Solid financial base: 64.3% equity ratio and
Liquidity reserve of 95.0 million mark record highs
– Attractive Yield: Dividend proposal EUR 0.60
– Outlook: true positive order trend of the first weeks
optimistic for 2010
Neckarsulm, 19 March 2010 – Bechtle AG in a difficult environment in 2009 well maintained. In the biggest crisis of Post-war period generated the IT service and retail businesses total sales of 1379.3 million (previous year: EUR 1431.5 million). That In 2009, the overall pre-tax profit exceeded market expectations and reached a value of EUR 43.7 million (previous year: EUR 61.5 million). The EBT margin of 3.2% remains at a level of excellence for the industry (Previous year: 4.3%). Earnings per share amounted to 1.64 to EUR 2.14 EUR in the previous year. Because of its excellent liquidity position of the Group Management Board and Supervisory Board of the Annual General Meeting in June 2010 a dividend of EUR 0.60 per share.
‘The fiscal year is due to a strong final quarter better than expected. Bechtle Group has an Drop in sales of only 3.6% compared to general market trends in the Industry fought bravely. Also in earnings, we have the distance to the From quarter to quarter decrease last year, ‘says Dr. Thomas Olemotz, CEO of Bechtle AG.
Segment, IT System & managed services listed in the domestic positive business development
Generated in the segment, IT System & Managed Services Bechtle 2009, a turnover of 920,0 million euros and was thus only 0.8% below the previous year (927.5 million). Stabilizing impacted mainly the Business of the domestic system houses as well as the development in The contracting authorities of the area. Revenues in the segment IT systems integrator and managed services in Germany even increased slightly from 778.7 Million up to EUR 779.3 million. The business with customers public sector rose significantly by 32.8% to 290.6 million euros (previous year: 218.8 million EUR). This corresponds to a share of total sales (from 21.1% last year: 15.3%).
EBIT from the segment, IT System & Managed Services was 2009, at From 33.0% to 25.8 million euros (previous year: EUR 38.4 million). The EBIT margin decreased from 4.1% to 2.8%. The reason for this is mainly in relation to costs in disproportionately To see sales trends related to the increase in personnel costs.
Paving the way for further international growth in IT E-commerce
In the IT E-commerce, sales fell by 2009, at EUR 459.4 million 8.8% lower than in the previous fiscal year (503.9 million EUR). The pressure on prices was mainly on hardware products with a average change in prices of around 12% in the reporting year . feel Despite a significant increase in the sold part Numbers in individual product could be this decline not fully compensate. In fiscal year 2009 were the operations of foreign companies for 317.1 million (Previous year: EUR 343.8 million). Domestic Commercial companies contributed EUR 142.3 million (prior year: EUR 160.2 million).
EBIT fell in IT E-commerce in the year from 21.8 million Back to EUR 16.9 million EUR. To reduce the Workforce has resulted in cost reductions, sales decline But this could be compensated only in part. Furthermore were unchanged in 2009 investment in two new Land Markets Ireland and Portugal, as well as the market entry of Bechtle directly in Poland, as well as Comsoft were prepared directly in Belgium. The EBIT margin in the trading segment declined as a result of 4.3% to 3.7%.
Solid balance sheet and significant free cash flow improved
The equity ratio improved despite Balance sheet extension at 31 December 2009 from 62.8% to 64.3%. Cash and cash equivalents including monetary and portfolio investment rose to Balance sheet of EUR 77.6 million to 95.0 million. Together with available credit lines amounting to EUR 34.7 million, Bechtle AG has 31 December 2009 with a comfortable cash reserve of 129.7 Million (previous year: EUR 117.5 million).
Cash flow from operating activities was despite the lower income with 46.7 million euros (previous year: EUR 49.9 million) unchanged at a high level. Free cash flow increased by 19.5% EUR 33.8 million (previous year: EUR 28.3 million).
Attractive Dividend
The dividend proposed by the Administration for Fiscal year 2009 is of 0.60 euros per share regardless of Earnings decline on last year’s level. The distribution ratio thus about 40% and brings the reliability of Distribution Policy at Bechtle and excellent liquidity position for Expression.
Of employees decreased slightly
At 31 In December 2009 were in the Bechtle Group 4354 employees busy. At the end of 2008 there were 4405 employees. The is predominantly on IT E-commerce accounted decline causally to the lack of utilization in this area due. Personnel expenses grew by 2.7 in the year to 220.4 million Million. The personnel cost ratio increased accordingly from 15.2% to 16.0%.
Optimistic outlook for 2010
The Board believes, given the improved economic Position and strength of Bechtle AG currently assumes that both Growing business segments in this year, and the development of the company in Industry context will again be above average. Segment IT E-commerce will also contribute to the expansion in Europe to this growth. So the Group will in the first half with a new Partnership’s business activities in Poland and plans to add for the second half of the market in the Czech Republic. By focusing on high-growth business sectors in the Segment, IT System
& Managed Services and an expansion of activities is in the business of that Contracting The aim is also supported. Especially as the demand in this Customer segment as a result of funding from the Economic Stimulus Package 2, even in the current year should develop stable. Acquisitions are also integral part of our growth strategy remain. ‘We are with the Development of new orders since the beginning of content and see good chances for a revival in demand in the second Half. In addition, to ensure comfortable Financial allocation for Bechtle still scope to also for future organic and acquisitive growth, "said Dr. Thomas Olemotz.
Ung EUR thousand 2009 2008 Revenue 1,379,307 1,431,462 -3.6% Domestic thousands of EUR 921,578 938,868 -1.8% 457,729 492,594 -7.1 abroad thousand EUR% IT systems integrator and managed services thousands of EUR 919,956 927,530 -0.8% IT e-commerce Thousands 459,351 503,932 -8.8% EBIT EUR thousand EUR 42,712 60,229 -29.1% IT systems integrator and managed services thousands of EUR 25,768 38,444 -33.0% IT e-commerce EUR thousand 16,944 21,785 -22.2% EBT EUR thousand 43,662 61,533 -29.0% EBT margin% 3.2 4.3 Profit after tax EUR thousands 34,258 45,428 -24.6% Earnings per Share EUR 1.64 2.14 -23.4% Net operating cash flow EUR thousands 46,665 49,941 -6.6% Free cash flow EUR thousands 33,772 28,252 +19.5% * Cash and cash equivalents EUR thousand Equity ratio% 94,977 77,300 +22.4% 64.3 62.8 Number of employees to 31.12. 4,354 4,405 -1.2%
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* Including monetary and portfolio investment
Contact: Bechtle AG Investor Relations Thomas Fritsche Phone: +49 7132/981-4121 Martin Link Telephone: +49 7132/981-4149 Fax: +49 7132/981-4116 ir@bechtle.com
19.03.2010 10:30 Ad-hoc news, financial news and Press releases transmitted by DGAP. Media archive at http://www.dgap-medientreff.de and http://www.dgap.de
Language: German Company: Bechtle AG
Bechtle Platz 1
74172 Neckarsulm
Germany Phone: +49 (0) 71 32 / 9 81-0 Fax: +49 (0) 7132 / 9 81 – 8000 E-mail: ir@bechtle.com Internet: ISIN www.bechtle.com: DE0005158703 WKN: 515,870 Exchanges: Regulated Market in Frankfurt (Prime Standard); OTC
in Berlin, Dusseldorf, Hanover, Munich, Hamburg, Stuttgart
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