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Bechtle AG – Company PresentationNeckarsulm, 6/7 April 2020.
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Sustainable Growth.
6+7/4/2020 Bechtle AG | Company Presentation 2
0,03 4,4 19 183792
1,431
2,2732,580 2,831 3,094
3,570
4,323
5,374
1983 1988 1993 1998 2003 2008 2013 2014 2015 2016 2017 2018 2019
1 38 100 8002,515
4,4056,219 6,572 7,205 7,667 8,353
10,00511,487
2762
89 107 129 145 163193
236
Revenue in €m
Employees
EBT in €m
|
SEGMENT IT Systems Integration & Managed ServicesCOO: Michael Guschlbauer
SEGMENT IT E-CommerceCOO: Jürgen Schäfer
Bechtle AG Organisation.
6+7/4/2020 Bechtle AG | Company Presentation 3
BECHTLE AGChairman of the Executive Board: Dr Thomas Olemotz
IT Systems Integrators
Bechtle ManagedServices Specialists
Logistics & Services
Germany, Austria, Switzerland
Central Divisions
In 14 countries In 6 countries
Inmac WstoreARPBechtle direct
In France
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Bechtle IT Systems Integrators.In Germany, Austria and Switzerland
6+7/4/2020 Bechtle AG | Company Presentation 4
Widespread, regional coverage
Consulting, procurement and services
Some 75 locations in Germany, Austria and Switzerland
Costumized online shops(bios®)
Employees in 2019: 9,097Services: approx. 5,400
Revenue in 2019: €3.5bn
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Bechtle IT-E-Commerce.The European powerhouse
6+7/4/2020 Bechtle AG | Company Presentation 5
Brands: Bechtle direct, ARP, InmacWstore (FR), BuyIT (NL), Bechtle Comsoft (FR)
Private label: Articona
In 14 European countries
Cross-channel strategy:Digital reach with personal account management
Customised online shops (bios®)
Employees in 2019: 2,390
Revenue in 2019: €1.9bn
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Nr. 1 Ranked System House in Germany.
6+7/4/2020 Bechtle AG | Company Presentation
Revenue in Germany (in €m)
RANK COMPANY 2018 2017
1 Bechtle 2,855 2,513
2 Computacenter 2,115 1,965
3 T-Systems International 1,500 1,400
4 Cancom 1,201 1,048
5 Software One * 1,100 854
6 NTT Data 755 702
7 SVA System Vertrieb Alexander 713 550
8 msg systems 694 621
9 Atos IT Solutions and Services 645 640
10 Axians Deutschland ** 553 518
Source: Channelpartner 08/2019
6
* Including Comparex AG ** Including Fritz & Macziol and Crocodial IT
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Bechtle share –Excellent performance throughout 2019.
Bechtle AG | Company Presentation 7
Performance 2019
Bechtle +84.5%
MDAX* +31.2%
DAX* +25.5%
TecDAX* +23.0%
*indexed
31/12/2018€67.85
30/12/2019€125.20
7
50 €
70 €
90 €
110 €
130 €
150 €
J 19 A 19 J 19 O 19 J 20 A 20
6+7/4/2020
2/4/2020€113.00
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Shareholder Structure –Stability and independence.
6+7/4/2020 Bechtle AG | Company Presentation 8
Schick family 35.02%
Baillie Gifford 7.59%
AGI 5.02%
Flossbach von Storch 4.95%DWS 4.94%
Capital World Investors 2.54%
Other Freefloat 39.94%
Current of: 2 April 2020, 42 million shares
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Revenue –Very strong growth.
955 965 1,0501,353
4,323
1,240 1,261 1,2761,597
5,374
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Total
20182019
in €m
+29.8% +30.7% +21.6%
6+7/4/2020 Bechtle AG | Company Presentation 9
+18.0% +24.3%+15.3%* +16.9%* +12.3%* +16.2%* +15.2%*
* organicgrowth
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2,855
1,468
3,337
2,038
Germany Abroad
20182019
Revenue –Well balanced growth.
2,906
1,417
3,485
1,889
IT SH & MS IT E-commerce
6+7/4/2020 Bechtle AG | Company Presentation 10
+19.9% +33.3%+16.8%* +11.8%*
+16.9%+14.3%*
+38.8%+17.1%*
in €m
* organicgrowth
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Gross margin –Influenced by exceptional growth and investments in workforce.
14.3
15.214.9
2017 20192018 in %
6+7/4/2020 Bechtle AG | Company Presentation 11
Cost of sales development (YoY)
Material costs +24.7%
Personnel expenses +31.6%Depreciation/amortisation (incl. IFRS 16) +113.7%
Other operating expenses -2.3%
Total +25.2%
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EBIT –Margin on par with 2018 despite PPA effect.
126.1
69.0
195.1149.8
91.5
241.4
IT SH & MS IT E-commerce Group
20182019
6+7/4/2020 Bechtle AG | Company Presentation 12
4.5% 4.5% 4.3% 4.3% 4.9% 4.8%
+18.8% +32.7% +23.7%
in €m
Margin
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Employees –Our most valuable asset.
2015 2016 2017
7,667
2018
7,205
2019
8,353
10,005
11,487
6+7/4/2020 Bechtle AG | Company Presentation 13
+1,482 employees=14.8%
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Working capital –Implemented measures bearing fruit.
2017 2018 2019
492.9
580.8647.717.8%
+11.5%
in €m
6+7/4/2020 Bechtle AG | Company Presentation 14
Working capital development (YoY)
Inventories +1.9%
Trade receivables +31.6%
Accrued income +15.2%
Trade payables +9.3%
Deferred income +20.9%
Total +11.5%
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Free cash flow –Significant climb gives us leeway.
20172016
-7.0
2015
78.6
2018 2019
-24.1
-147.2
109.5
in €m
6+7/4/2020 Bechtle AG | Company Presentation 15
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1Bechtle AG | Company Presentation6+7/4/2020
New academic year: 229 trainees and students join Bechtle following 7 career paths and 8 degree programmes.
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2Bechtle AG | Company Presentation6+7/4/2020
Construction of a new 8,700 m² office building.Room for an additional 600 desks at Bechtle Platz 1.To be ready in October 2020.35,300 m² total office space at the group headquarters.
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In 2019, Bechtle wrapped up no less than nine acquisitions—more than in any other year.Acquisitions remain integral to our growth strategy.3
6+7/4/2020 Bechtle AG | Company Presentation 18
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46+7/4/2020 Bechtle AG | Company Presentation 19
System house and service units in Switzerland fuse to become Schweiz AG/Bechtle Suisse SA, creating one of the biggest integrated IT service provider in Switzerland with some 560 employees.
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5Bechtle AG | Company Presentation6+7/4/2020
Bechtle adds Google products to its multi-cloud offering.Customers can source these services via theBechtle Cloud platform.
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6Bechtle AG | Company Presentation6+7/4/2020
More international awards than ever, including Global Microsoft 365+ Surface Partner of the Year, HPE Global Solution Provider 2019 and Cisco Security Partner 2019.
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7Bechtle AG | Company Presentation6+7/4/2020
Acquisitions 2020• DPS Software GmbH: Expertise in SOLIDWORKS• Wide Technology Partners: Cisco specialists in CH• Ivizi: Apple Centre of Excellence in NL.
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Outlook 2020 –Framework conditions defy reliable forecasts.
6+7/4/2020 Bechtle AG | Company Presentation 23
Framework conditions.
Original GDP projections were cautiously optimistic.
Impact of the corona pandemic is unpredictable in terms of time and intensity;
consequences on the economy can therefore not be put in reliable figures.
Objectives.
Significant growth in terms of revenue and earnings.
EBT margin at least on par with 2018.
Current developments make dependable projections impossible.
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Annual Report 2019.
All facts and figures for your perusal
Available on bechtle.com/reports
Any questions?
6+7/4/2020 Bechtle AG | Company Presentation 24