COMPANY PRESENTATION BUSINESS RESULTS 2011f2514451-d5fb-4ec5-8e3a... · 2018-10-26 · COMPANY PRESENTATION BUSINESS RESULTS 2011. 2 | Bechtle AG | 15 March 2012 Dr. Thomas Olemotz

Welcome to the DVFA Analysts Conference

Frankfurt, 15 March 2012

COMPANY PRESENTATION

BUSINESS RESULTS 2011

2 | Bechtle AG | 15 March 2012 Dr. Thomas Olemotz

Fokus networking solutions and virtualisation

Leader in certifications and improvement of partner status

Expansion of managed services and clear focus on cloud computing

Enhanced co-operation across different segments

Technological and regional reinforcement of the group

2011 – ANOTHER RECORD-SETTING YEAR FOR BECHTLE –

Not just for revenue and earnings


Overall development of the IT market

in Germany: +3.1%

Weak overall economic conditions of

the European IT market

Above-average growth for software in

Germany (5.1%)

Growth in service business for the

industrial sector, and especially the

public sector

Bechtle enjoyed strong economic

momentum and seized the

resulting business opportunities

Hardware: + 1.3%

€19.6 billion

Software: +5.1%

€19.3 billion

IT services: +3.2%

€34.3 billion

Source: BITKOM (March 2012)

+3.1%

€70.2

billion

ECONOMIC CONDITIONS –

Benchmark Data


Abroad

679.7

34.1%

2010

[in million €]

1,7231,995

Total

+15.8%

Abroad

564.7

32.8%

Domestic

1,158.2

67.2%

Domestic

1,315.2

65.9%

2011

Bechtle profits significantly from willingness to invest in the

IT industry, and grows considerably faster than the overall market.

REVENUE DEVELOPMENT –

By region – 2011 vs. 2010


572 679

[in million €]

IT system house &

managed services

+15.8%

IT e-commerce

Above-average growth in both business segments.

1,7231,995

Total

2010 2011

+14.3% +18.8%

1,151 1,316

REVENUE DEVELOPMENT –

By Segments – 2011 vs. 2010


10.2 11.016.1

24.518.1 19.9 21.8

26.4

Q1 Q2 Q3 Q4

2010 2011

+76.6% +80.9% +36.1% +8.0%

+39.7%

[in million €]

61.8

86.3

Total

Achsentitel

4.0%

2.9%

Ma

rgin

4.4%

2.9%

Ma

rgin

4.4%

3.8%

Ma

rgin

4.5%

4.3%

Ma

rgin

4.3%

3.6%

Ma

rgin

Earnings continue to increase throughout the course of the year.

EARNINGS (EBT) –

Throughout the Year – 2011 vs. 2010

Total


24.936.5

IT e-commerce

EBIT EBIT

[in million €]

Ma

rgin 4.4%

Ma

rgin

Record EBIT in both segments |

Significant improvement in operating margins.

+39.2% +46.8%

+39.7%

61.8

86.3

Total

4.3%

3.6%

Ma

rgin

EBT

35.949.9

IT system house & managed services

2010 2011

3.1%

3.8% 5.4%

EARNINGS –



46.4

62.7

2010 2011

2.21

2.99

2010 2011

EAT AND EPS –

2011 vs. 2010

EAT EPS

+35.1% +35.1%

Above-average increase in earnings.

[in million €] [in €]


419.0

371.5

Equity capital

31.12.2010 31.12.2011

+12.8%

[in million €]

141.5

129.8

Liquidity*

Solid equity ratio of 52.2% and comfortable liquidity level ensure

sufficient room for future growth.

[* including time deposits and securities]

+9.0%

2011 2010

Return on

equity % 17.3 14.2

Total return

on assets % 9.8 8.7

ROCE % 25.2 21.0

SELECTED FINANCIAL KEY FIGURES –

2011 vs. 2010


3,763

1,003

4,305

1,174

IT system house & managed services IT e-commerce

2010 2011

+14.4% +17.0%

+15.0%

At the moment, we have nearly 400 open positions.

4,7665,479

Total

EMPLOYEES –



[in million €]

Acquisitions and investments affect our cash flow.

55.8

59.1

Operating cash flow

2010 2011

12.2

41.8Free

cash flow

-5.6%

-70.9%

SELECTED FINANCIAL KEY FIGURES –

2011 vs. 2010


21,00

23,00

25,00

27,00

29,00

31,00

33,00

35,00

37,00

J 11 M 11 M 11 J 11 S 11 N 11 J 12 M 12

03/01/11

€30.39

13/03/12

€32.77

Bechtle

TecDAX (indexed)

DAXsubsector IT Services (indexed)

Share price shows positive business developments.

Stock Exchange Figures (13/03/12)

Market Capitalisation €688 million

Dividends in 20111)

Dividend yield2)

Dividend payout ratio

€1.00

3.8%

33.5%

Performance

- Bechtle

- DAX

- TecDAX

- DAXsubsector

IT-Services

7.8%

0.1 %

–9.9%

24.0%

1) AGM Proposal2) Dividend in relation to year-end share price

THE BECHTLE SHARE –

Performance


5.29.0 12.0

18.625.3

29.3 29.6

41.045.4

34.3

46.4

62.7

Earnings after taxes

in million €

Dividend

in € cent

DIVIDEND DEVELOPMENT –

Since IPO

Reliable distribution and continually

increasing dividends | Dividend yield: 3.8%.

1 AGM Proposal

25 25 2530

40

50 50

60 60 60

75

85

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

15 1


SUMMARY –

Fiscal Year 2011

The company made excellent use of business opportunities, had significantly better

development than the overall IT market and increased its market shares.

In the past two fiscal years, Bechtle has increased its revenues by €616 million (+45%)

and nearly doubled its earnings (+ €43 million).

With its own portfolio of solutions, the group has a strong position for today's hot

technological trends.

We're fighting the skilled labour shortage with systematic education programmes,

qualification measures and a training offensive.

All in all, 2011 was a very good business year for Bechtle!


OUTLOOK –

Fiscal Year 2012

With great optimism Bechtle looks ahead to further business development!

Situation:

Development of IT market in the DACH region in 2012: 3.6% / €83.4 bn

BITKOM's forecast for the IT market in Germany in 2012:

Total €72.4 billion (+3.1%)

Hardware €20.6 billion (+3.0%)

Software €17.0 billion (+4.4%)

Services €34.9 billion (+2.5%)

Bechtle:

Sound liquidity for financing further growth

Improving our competitive position and gaining market shares

Investments in the future pay off in the long term

Goal for 2012: surpass record amounts of revenue and earnings from the previous year


ANY QUESTIONS?


355 375 427566

456 457 497584

Q1 Q2 Q3 Q4

2010 2011

+28.6% +21.9% +16.5% +3.2%

+15.8%

[in million €]

1,7231,995

Total

New record for revenue: we reached our ambitious goals for growth in 2011.

REVENUE –

Throughout the Year – 2011 vs. 2010


± in % compared to

previous year2011 2010 2009 2008 2007

Revenue

IT system house

IT e-commerce

+15.8

+14.3

+18.8

million € 1,995

1,316

679.2

1,723

1,151

571.8

1,379

920.0

459.4

1,431

927.5

503.9

1,383

885.8

497.7

EBIT +42.3 million € 86.4 60.7 42.7 60.2 58.3

IT system house

EBIT margin

+39.2 million €

%

49.9

3.8

35.9

3.1

25.8

2.8

38.4

4.1

33.1

3.7

IT e-commerce

EBIT margin

+46.8 million €

%

36,5

5.4

24.9

4.4

16.9

3.7

21.8

4.3

25.2

5.1

EBT

EBT margin

+39.7 million €

%

86,3

4.3

61.8

3.6

43.7

3.2

61.5

4.3

59.0

4.3

EAT +35.1 million € 62.7 46.4 34.3 45.4 41.0

EPS +35.1 € 2.99 2.21 1.64 2.14 1.93

EARNINGS –

Overview


± in % compared

to previous year.2011 2010 2009 2008 2007

Equity +12.8 million € 419.0 371.5 335.0 311.4 276.5

Equity ratio % 52.2 56.8 64.3 62.8 61.2

Return on equity % 17.3 14.2 11.3 16.9 16.9

Return on assets % 9.8 8.7 7.4 10.7 10.3

Cash and cash equivalents

incl. securities+9.0 million € 141.5 129.8 95.0 77.6 54.2

Operating cash flow ‒5.6 million € 55.8 59.1 46.3 49.9 42.0

Free cash flow ‒70.9 million € 12.2 41.8 33.8 28.3 25.8

Cash flow per share ‒5.6 € 2.66 2.81 2.22 2.36 1.98

ROCE % 25.2 21.0 15.7 22.7 23.4

Dividend yield* % 3.8 2.6 3.2 4.4 2.2

*Dividends paid in the fiscal year in relation to the end-of-year rate; based on dividend proposal of €1.00 made to the AGM

FINANCIAL DATA –

Overview


VISION 2020

Bechtle AG

• Our goal for 2020 is 10,000 employees

and a revenue of

5 thousand million Euros.

IT system house & managed services

• Leading IT partner for SMBs and

public-sector businesses.

• Represented throughout the DACH

region.

IT e-commerce

• Number 1 in Europe.

• Proceeding with the

internationalisation – also beyond

Europe.


Business model

Unique. Sustainable.

Vision 2020

Goal-oriented. Ambitious. Realistic.

Strong business culture

Stability. Reliability.

Perseverance. Inspiration.

Everything from one source

All the leading manufacturers.

Regional presence

65 system houses. Always nearby.

Financial stability

Financing. Strong equity.

Liquidity.

Specialisation

Bundled in 13 Competence Centres.

Over 2,000 certifications.

Experience

Over 75,000 customers.

Always the right solution.

Qualifications

More than 2,400 specialists. Competent.

Dedicated. Certified.

Decentralised management and

decision making structure

Reliable and stable.

10 GOOD REASONS –

For manufacturers and customers to choose Bechtle


Head of Investor Relations

Thomas Fritsche Tel.: +49 7132 981-4121, [email protected]

Investor Relations

Martin Link Tel.: +49 7132 981-4149, [email protected]

mailto:[email protected]





Documents

COMPANY PRESENTATION BUSINESS RESULTS 2011f2514451-d5fb-4ec5-8e3a... · 2018-10-26 · COMPANY PRESENTATION BUSINESS RESULTS 2011. 2 | Bechtle AG | 15 March 2012 Dr. Thomas Olemotz