Bechtle AG · XETR:BC8
Bechtle — Analysts' Conference 2015
21 slides from Bechtle's conference presentation, Mar 13, 2015
Slide 1: Bechtle AG Analysts' Conference 2015
Bechtle AG Analysts' Conference 2015. Welcome. Frankfurt | 13 March 2015 Our Fourth decade: BECHTLE 4.0 Our Future: INDUSTRY 4.0 Our Numbers: CLOSING 4.0
Slide 2: Agenda
Agenda. 1. Economic conditions in 2014 2. News and updates for 2014/2015 3. Business development in 2014 4. Shares and dividends 5. Outlook for 2015 13.3.15 | Analysts' Conference Bechtle AG | Dr Thomas Olemotz 2
Slide 3: Economic Conditions. The IT Industry in 2014
Economic Conditions. The IT Industry in 2014 Hardware Software Hardware Software +5.3% +5.6% +0.5% +4.2% €14.9bn €19.1bn €67.4bn €79.8bn +4.0% +2.4% €70.3bn €350.6bn IT Services IT Services +2.7% +2.3% €36.3bn €203.4bn Source: EITO, November 2014 DACH Region: As a whole, the IT market grew by 3.7% t
Slide 4: The Latest Developments at Bechtle
The Latest Developments at Bechtle. 2014/2015 Acquisitions: planetsoftware, Vienna (specialist for SolidWorks 3D CAD software) and Amaras, Monheim am Rhein (on-site services). Foundation: ARP Belgium (IT e-commerce). Global IT Alliance: PC Connection (USA), Atea (Norway, Sweden, Denmark, Finland, Li
Slide 5: Sustainable Growth. All Sights Locked on Vision 2020
Sustainable Growth. All Sights Locked on Vision 2020 5% margin 107.4 86.3 89.3 79.0 59.0 61.5 61.8 45.9 EBT in €m 37.6 41.2 43.7 10,000 27.2 since IPO on 14.4 19.0 6,572 employees 6,219 30 March 2000 8.5 5,970 5,479 4,766 €5bn in 3,908 4,250 4,405 4,354 2,580 revenue 3,888 3,179 2,273 2,515 2,097 2,
Slide 6: Group Revenue Growth. 2014 vs. 2013 by Quarter
Group Revenue Growth. 2014 vs. 2013 by Quarter 2013 +13.5% 2014 +15.3% 2,580 2,273 +13.1 % +14.2 % +16.4 % +10.6 % 1,190 1,032 682 772 514 587 519 604 559 618 Q1 Q2 H1 Q3 Q4 Total [in €m] Double-digit growth in all quarters. 13.3.15 | Analysts' Conference Bechtle AG | Dr Thomas Olemotz 6
Slide 7: Revenue Growth. 2014 vs. 2013 by Business Segment
Revenue Growth. 2014 vs. 2013 by Business Segment +13.5% 2,580 2,273 853 +15.6% 738 IT E-Commerce 1,727 +12.5% IT SH & MS 1,535 2013 2014 [in €m] Significant growth in both business segments. 13.3.15 | Analysts' Conference Bechtle AG | Dr Thomas Olemotz 7
Slide 8: Revenue Growth. 2014 vs. 2013 by Region
Revenue Growth. 2014 vs. 2013 by Region +13.5% 2,580 2,273 805 +14.6% 703 Foreign 1,775 +13.0% 1,571 Domestic (Germany) 2013 2014 [in €m] All foreign markets contributed to growth. 13.3.15 | Analysts' Conference Bechtle AG | Dr Thomas Olemotz 8
Slide 9: Group Gross Margin. Growth since 2009
Group Gross Margin. Growth since 2009 15.2 14.9 15.0 14.9 14.5 13.7 2009 2010 2011 2012 2013 2014 [in %] Gross margin at consistently high level. 13.3.15 | Analysts' Conference Bechtle AG | Dr Thomas Olemotz 9
Slide 10: Earnings Growth (EBIT). 2014 vs. 2013 by Quarter
Earnings Growth (EBIT). 2014 vs. 2013 by Quarter 2013 +19.2% 2014 +51.0% 108.5 -6.7 % 91.0 +19.3% +46.0 % +55.9 % 44.5 36.4 34.0 23.3 29.5 25.2 30.0 14.5 21.2 15.0 Q1 Q2 H1 Q3 Q4 Total [€m] 2.8% 2.9% 2.9% 4.5% 5.3% 4.0% 3.6% 3.9% 3.7% 4.9% 4.4% 4.2% [EBIT margin] As expected, EBIT lost momentum in t
Slide 11: Earnings Growth (EBIT). 2014 vs. 2013 by Business Segment
Earnings Growth (EBIT). 2014 vs. 2013 by Business Segment 2013 +19.2% 2014 +22.6% +13.6% 108.5 91.0 68.9 56.2 34.9 39.6 IT System House & IT E- Total [in €m] Managed Services Commerce 3.7% 4.7% 4.0% 4.0% 4.6% 4.2% [EBIT margin] Improved profitability in the System House segment; E-Commerce profitabi
Slide 12: Group EBT Margin. Growth since 2009
Group EBT Margin. Growth since 2009 4.3 4.2 3.8 3.9 3.6 3.2 2009 2010 2011 2012 2013 2014 [in %] EBT margin continues to grow, approaching a new record. 13.3.15 | Analysts' Conference Bechtle AG | Dr Thomas Olemotz 12
Slide 13: Group Employee Growth. By Quarter
Group Employee Growth. By Quarter 6,534 6,572 6,352 6,393 6,219 6,150 6,053 5,978 5,970 5,959 5,750 5,584 5,479 5,357 5,139 4,875 Q1.11 Q2.11 Q3.11 Q4.11 Q1.12 Q2.12 Q3.12 Q4.12 Q1.13 Q2.13 Q3.13 Q4.13 Q1.14 Q2.14 Q3.14 Q4.14 Moderate yet consistent increase during the reporting year. 13.3.15 | Anal
Slide 14: Employee Growth. 2014 vs. 2013 by Business Segment
Employee Growth. 2014 vs. 2013 by Business Segment +5.7 % 6,572 6,219 1,408 +11.2% IT E-Commerce 1,266 4,953 5,164 +4.3% IT SH & MS 2013 2014 Stronger revenue growth in E-Commerce necessitates above-average increase in employee numbers. 13.3.15 | Analysts' Conference Bechtle AG | Dr Thomas Olemotz 1
Slide 15: Selected Key Financial Figures. 2014 vs. 2013
Selected Key Financial Figures. 2014 vs. 2013 55.1 2013 Equity ratio 2014 54.5 14.2 Return on equity 15.6 8.2 Return on total assets 8.9 20.6 ROCE 22.3 [in %] Healthy balance sheet ratio with improved profitability. Liquidity on par with the previous year (€156.0m at end of reporting period). 13.3.1
Slide 16: The Bechtle Share. Performance
The Bechtle Share. Performance 2.1.14 27.2.15 Market Figures (30.12.14) €49.33 €72.57 75 € 30.12.14 Market capitalisation €1,386m €65.98 70 € Performance (YTD) 65 € - Bechtle +33.8% 60 € - DAX +4.3% - TecDAX +17.5% 55 € - DAXsubsector +30.1% 50 € Bechtle IT Services TecDAX (indexed) DAXsubsector IT
Slide 17: Dividend Policy. Continuity
Dividend Policy. Continuity 1 15 120 110 100 85 75 60 60 60 50 50 Dividends in € cent 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 *AGM proposal Reliable distribution since IPO 13.3.15 | Analysts' Conference Bechtle AG | Dr Thomas Olemotz 17
Slide 18: Economic Conditions. The IT Industry in 2015
Economic Conditions. The IT Industry in 2015 Hardware Software Hardware Software -4.6% +5.5% -4.4% +4.6% €14.2bn €20.2bn €64.5bn €83.5bn +2.0% +1.9% €71.8bn €357.2bn IT Services IT Services +3.0% +2.8% €37.4bn €209.2bn Source: EITO, November 2014 DACH Region: Momentum slackens: IT market grows by 2.
Slide 19: Opportunities. 2015 Fiscal Year
Opportunities. 2015 Fiscal Year IT is becoming a key element of business development as perception shifts from it being a necessary evil to a critical success factor. IT budgets for innovation and new IT architectures. Key issues for decision makers: enterprise mobility, IT security, private and hyb
Slide 20: Outlook. 2015 Fiscal Year
Outlook. 2015 Fiscal Year Revenue. Continue to grow and attain more market share IT System House: continue to focus on driving the solutions and service business. Managed Services: expand long-term service agreements. IT E-Commerce: defend our excellent competitive position in the trade business. Ea
Slide 21: Any Questions?
ANY QUESTIONS? 13.3.15 | Analysts' Conference Bechtle AG | Dr Thomas Olemotz 21