Slide 1: BECHTLE AG IR Company Presentation
BECHTLE AG IR Company Presentation 05 October 2026
Slide 2: Agenda
Agenda. 1. Introduction 2. Market 3. Business Model and Strategy 4. Focus on AI 5. 2nd Quarter 2026 and Outlook 6. Mid-term targets and Investment case
Slide 3: Introduction
Introduction.
Slide 4: Bechtle. Integrate IT. Architect the future.
Bechtle. Integrate IT. Architect the future. From endpoints to the data centre and IT security, from managed cloud services to artificial intelligence – we build future-ready IT architectures that empower workers and elevate our customers’ success. Complete with strategic consulting and extensive af
Slide 5: Bechtle at a glance
Bechtle at a glance. Established ONE ~270 €8.6 bn 1983 portfolio. Everything IT. vendor partners business volume in 2025 B2B/B2G 70+ European balanced Competence leader, #1 in Germany, 120+ own activities in 14 locations in Europe customer base Centres countries 70,000+ 16,418 Global MDAX customers
Slide 6: Sustainable business development
Sustainable business development. 40+ years of progress. Business volume in 2025 €8.6 billion 25-year CAGR 1983 2000 IPO 2009 2025 (2000-2025) 12.2% 15.7% EBT in 2025 Business volume EBT €324 million 1983 2000 2009 2025 IPO 6
Slide 7: Bechtle Vision and six missions
In a world of accelerated Performance change, we activate the We pursue profitable growth to secure our ability to thrive in the future. By 2030, we will achieve a business volume of at least €10 billion and an EBT margin of 5%. potential of IT. Always Customers prepared for success. With a customer
Slide 8: Market
Market.
Slide 9: IT Market trends and our Right to Win
IT Market trends and our Right to Win. Trends 2030+ Positioning Expertise at scale Customer access • Specialised capabilities • Local proximity through bundled across the Group ~120 locations in 14 • European expansion and countries Artificial Digital transformation and international coverage with •
Slide 10: Leading in Europe
Rank Company Business volume (€m) in 2025 in DACH region 1) Leading in 1 Bechtle 5,701 Europe. 3,630 2 Computacenter AG & Co. oHG 3 SoftwareOne Deutschland GmbH 2,446 No. 1 in Germany. … 25 Cenit AG 124 Fragmented Some 96,000 IT companies in the German market. 2) market 65 300 13,000 82,000 > €250m
Slide 11: Business volume YoY: Bechtle vs. German IT market
Business volume YoY: Bechtle vs. German IT market. We clearly outgrow the market. 25 20 10-year average 15 (2016-2025) 10 11.9% 4.9% 5 Bechtle Group German IT market 0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 in % Bechtle total YoY growth IT market GER 11
Slide 12: Business volume by region
Business volume by region. International business gaining importance. 8.596 19% 15% 9% 3.051 17% 8% 57% 4% Other Europe Benelux France 71% Germany in Mio. € 2016 2025 Business volume 12
Slide 13: Business volume by customer segment
Business volume by customer segment. Broad positioning across customer groups and sectors. Customer Groups B2G B2B 100% of business volume 40% of business volume 60% of business volume Other Banking Other Federal 10% 22% 19% 8% Public Sector 40% 38% Trade 50% Research 13% Manufacturing SME and 7% Ed
Slide 14: Covering the IT industry with ~270 vendor partners
Covering the IT industry with ~270 vendor partners. Independent advice with leading partner status across all key vendors. 14
Slide 15: Business Model and Strategy
Business Model and Strategy.
Slide 16: CIOs' investment priorities in Germany
CIOs‘ investment priorities in Germany. Areas of increased IT investment in 2026. Cyber Security 65.7 Cloud Services 49.9 Cloud infrastructure 47.7 Network infrastructure 44.0 Security Hardware 43.3 IT training and courses 37.4 Software as a Service 36.4 In-house servers 35.6 Storage solutions 28.3
Slide 17: Bechtle portfolio. 360° IT service
Bechtle portfolio. 360° IT service. Hardware Software IT security Cloud Future-ready Comprehensive Cyber resilience Private, public, hardware for a offering including at technical, hybrid, and seamless IT collaboration, organisational, multi-cloud infrastructure. development, and operational environ
Slide 18: Multi-channel sales strategy
Multi-channel sales strategy. One Bechtle. Every channel. Every market. • Stronger • Seamless end-to-end customer loyalty. customer journey. • Improved • Needs-based support market penetration. across all touchpoints. • Higher efficiency • European presence through streamlined in 14 countries. proce
Slide 19: Bechtle International Division
Bechtle International Division. Meeting global customer needs. 100+ specialists focused on large-scale IT deployments. Expertise for organisations with 5,000+ IT seats. Strong support for multinational organisations. Integrates with Global IT Alliance (GITA): 14 partners, 96 countries, 240 locations
Slide 20: A Dual Growth Model: Organic Expansion and Targeted M&A
A Dual Growth Model: Organic Expansion and Targeted M&A. Combining entrepreneurial growth with strategic acquisitions. M&A as accelerator Organic growth Cross-selling New capabilities and enabler 20
Slide 21: Successful M&A strategy
Successful M&A strategy. 126 acquisitions since Bechtle’s foundation. ~€1.5 bn in acquired business volume over the past 10 years. Progress of European M&A strategy since 2022. Current M&A Rationale • Strengthen operational resilience. UK • Reduce dependency on individual markets. Netherlands €138 m
Slide 22: Focus on AI
Focus on AI.
Slide 23: Technology view: The AI Evolution
Technology view: The AI Evolution. From Models to Autonomous Enterprises – where value is created. WALK RUN FLY CRAWL Data & Workflows & Autonomous Models platforms agents enterprise Access: Readiness: Productivity: Reinvention: Machine learning Semantic networks Multimodal frameworks Autonomous age
Slide 24: What AI means for our customers
What AI means for our customers: Customers need a partner to translate AI potential into business value. Bechtle enables the complete AI lifecycle. Advise Architect Secure & Transform Operate Evolve Identify business value, Build cloud, on- Control Redesign Manage AI Integrate the use cases, archite
Slide 25: Bechtle's Right to Win in the AI Era
Bechtle's Right to Win in the AI Era. Bechtle is uniquely positioned to benefit from AI adoption. Customer Bechtle Technology ecosystem Processes We know Cloud & models Constraints We help Infrastructure Data We secure Applications Value We connect Security TRUSTED ACCESS END-TO-END VENDOR-NEUTRAL S
Slide 26: AI Inside Bechtle: Driving Productivity and Operational Excellence
AI Inside Bechtle: Driving Productivity and Operational Excellence. We do not only sell AI. We apply AI ourselves. AI-enabled Bechtle Augment Transform people processes AI Adoption Knowledge access Workflow redesign Better decisions AI Academy Automation Less administration Speed and quality Develop
Slide 27: 2nd Quarter 2026 and Outlook
2nd Quarter 2026 and Outlook.
Slide 28: Order intake and order backlog
Order intake and order backlog. +5.8% Order backlog reaches a 3,535 new record high. 3,340 Strong demand for IT +25.5% solutions drives growth 2,469 in incoming orders. 1,968 Q2.2025 31/03/2026 Q2.2026 30/06/2026 in €m Order intake Order backlog 28
Slide 29: Business volume and revenue
Business volume and revenue. +18.1% Strong top-line growth. 2,274 Business volume up +16.5% 1,925 12.9% organically. 1,732 1,487 Q2.2025 Q2.2026 in €m Business volume Revenue 29
Slide 30: Business volume over the year
Business volume over the year. +15.6% 4,501 Growth accelerates in the 2nd quarter – 3,893 strong first-half performance. +13.2% +18.1% 2,227 2,274 1,967 1,925 2025 2026 in €m Q1 Q2 H1 30
Slide 31: Business volume by segment
Business volume by segment. Double-digit growth +18.1% across the board – 2,274 supported by all segments and customer groups. 1,925 Other Europe stands 1,216 +10.4% out with both organic Germany 1,101 and acquisition-driven growth. 208 +10.7% France 188 317 +12.0% Benelux 283 533 +51.0% Other Europ
Slide 32: Gross margin on business volume
Gross margin on business volume. 14.2 14.2 14.1 Stable at a high 13.4 13.2 level. Q2.2025 Q3.2025 Q4.2025 Q1.2026 Q2.2026 in % 32
Slide 33: EBIT and EBT
EBIT and EBT. +23.0% +20.1% Double-digit 84.1 earnings growth – 80.2 margins stable to slightly higher year on 68.4 66.8 year. Q2.2025 Margin (% of business volume) 3.6% 3.7% 3.5% 3.5% Q2.2026 4.6% 4.9% 4.5% 4.6% Margin (% of revenue) in €m EBIT EBT 33
Slide 34: EBIT by segment
EBIT by segment. +7.6% 55.7 Broad-based momentum – earnings growth 51.7 +128.4% across all regions. 17.7 +10.9% 7.6 7.7 6.8 +50.8% 3.1 2.1 4.7% 4.6% 1.1% 1.5% 2.4% 2.4% 2.2% 3.3% Margin (% of business volume) Q2.2025 5.9% 5.8% 1.4% 2.1% 3.5% 3.5% 2.9% 4.4% Margin (% of revenue) Q2.2026 Germany Franc
Slide 35: Operating cash flow
Operating cash flow. Performance influenced 140.7 by strong business 124.9 growth, particularly towards quarter-end – largely due to timing effects. 45.2 DSO improves to 10.7 37.4 days from 39.1 in the previous year. -112.5 Q2.2025 Q3.2025 Q4.2025 Q1.2026 Q2.2026 in €m 35
Slide 36: Employees
Employees. +810 employees +5.2% −78 employees -0.5% Headcount growth 16,496 16,418 16,360 driven solely by 16,300 acquisitions. Organic decline 15,608 of 1.4% year on year. Q2.2025 Q3.2025 Q4.2025 Q1.2026 Q2.2026 36
Slide 37: Managed services provider expands Bechtle's presence in the Netherlands
M&A Managed services provider expands Bechtle’s presence in the Netherlands. • Bechtle acquires Interforce, with 38 employees and a business volume of €11.3 million. • Interforce is an established managed services provider focused on mid-sized businesses across the Netherlands. • The acquisition str
Slide 38: Three major AI achievements for the Bechtle Group
Artificial intelligence Three major AI achievements for the Bechtle Group. • Bechtle expands its collaboration with NVIDIA and strengthens its position as a provider of AI infrastructure in Europe. • Together with Dell Technologies and NVIDIA, we are establishing a Dell AI Factory with a dedicated d
Slide 39: Another major public-sector contract secured
Public sector Another major public- sector contract secured. • Bechtle awarded contract to operate and further develop core IT services for the Bavarian judiciary. The framework agreement covers a central IT platform to deploy key digital workplaces and IT services. • The contract takes effect on 1
Slide 40: Bechtle successfully places Schuldschein loan
Capital market Bechtle successfully places Schuldschein loan. • Original target volume increased to €450 million. • Order book several times oversubscribed. • Broad investor base comprising 84 national and international lenders. • Financing provides additional flexibility for our international M&A s
Slide 41: Bechtle joins the Responsible Business Alliance
Sustainability Bechtle joins the Responsible Business Alliance. • Bechtle has joined the Responsible Business Alliance (RBA) as an Affiliate Member. • Through this membership, we support the vision and objectives of the world’s largest industry initiatives promoting social, environmental and ethical
Slide 42: Revised guidance. 2026 forecast
Revised guidance. 2026 forecast. Context. Objectives. • The broader economic environment remains • Given the excellent H1 performance, particularly earnings strained, and conditions in the IT market continue growth in Q2, and a record order backlog, the Executive Board to be challenging. Nevertheles
Slide 43: Mid-term targets and Investment case
Mid-term targets and Investment case.
Slide 44: Putting mid-term targets into context
Putting mid-term targets into context. 2015 to 2025 Outlook 2026 Ambition 2030 Business Volume > € 9.5bn > € 10.0bn Growth CGAR 12% > 10% y-o-y EBT € 340m to € 357m > € 500m EBT growth CGAR 10% 5% to 10% y-o-y EBT in % of BV 3.6%1) 5% 1) EBT margin consensus FY 2026 as of 17/09/2026 (CMD) 44
Slide 45: Driving profitability across the Group
Driving profitability across the Group. EBT margin as of Business Volume 5.0% M&A Productivity gains Organic Growth / 3.6%1) Mix 2026 2030 1) EBT margin consensus FY 2026 as of 17/09/2026 (CMD) 45
Slide 46: Deep dive: Productivity gains and key levers
Deep dive: Productivity gains and key levers. Global process harmonisation Go-to-market approach Technology and AI ONECORE Next Best Action (NBA) 46
Slide 47: Driving productivity across the Group
Driving productivity across the Group. EBIT as a percentage of gross profit. Group Groupperformance performance (%) (%) Per FY segment 2025 (%) (%) per segment 32 30 30 28 28 23 20 4.7% 3.9% 3.3% 2.6% 2.0% 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Avg Germany France Benelux Other Europe Grou
Slide 48: Mid-term targets 2030
Mid-term targets 2030: Clear Milestones, Measurable Progress, Strong Shareholder Value Creation. Growth levers Expertise at scale Customer access Vendor ecosystem End-to-end delivery Profitability levers Growth / Mix Productivity gains M&A Cash focus Working capital Investment grade quality Operatin
Slide 49: Capital Allocation
Capital Allocation: Investing for Growth While Maintaining Financial Discipline. Organic 1 People, skills, platforms and M&A track record growth strategic capabilities 126 Operating Targeted Geographic reach, capabilities acquisitions since 2 cash flow M&A and service expansion foundation Sound Fina
Slide 50: Investment case
Investment case. Reasons to invest in Bechtle. Proven profitable growth. Broad solution portfolio. Market-leading in Europe. Customer proximity. European market leader with Everything IT from a single Balanced, robust European footprint Operating from 120 locations, we sustainable growth. source. in
Slide 51: Any questions?
Any questions? ir@bechtle.com
Slide 52: Shareholder structure
Shareholder structure. Schick Family 35.02% Long-term and independent anchor shareholder. Other Freefloat 54.80% (incl. Gerhard and Ilse Schick Foundation) 4.21% Flossbach von Storch 10.18% 52
Slide 53: Dividend
Dividend. Stable dividend underscores financial 70 strength, stability 65 70 70 and confidence. 55 45 40 33 30 23 25 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 in € cent 53
Slide 54: Bechtle's Investor Relations team
Bechtle‘s Investor Relations team. Martin Link Bettina Schneider Phone: +49 7132 981-4149 Phone: +49 7132 981-4272 E-mail: martin.link@bechtle.com E-mail: bettina.schneider@bechtle.com Julia Hofmann Frank Geißler Phone: +49 7132 981-4153 Phone: +49 7132 981-4688 E-mail: julia.hofmann@bechtle.com E-m
Slide 55: AI Inside Bechtle: Three examples
AI Inside Bechtle: Three examples. TenderX Next Best Supply Chain Action Optimisation Smarter tender management AI-powered sales prioritization Data-driven operational decisions • Supports the analysis of complex • Analyses customer data and • Improves planning and supply- tender documentation re
Slide 56: Spotlight: cloud services
Spotlight: cloud services. Bechtle Cloud. Platform-driven business. Strong partnerships. Bechtle’s own BSI C5-certified and Bechtle Clouds Platform combines Trusted cooperations with all leading GDPR-compliant cloud services, proprietary and partner offerings, American hyperscalers and European Bech
Slide 57: Spotlight: digital sovereignty
Spotlight: digital sovereignty. A rising priority across the private and public sectors. Freedom of choice Robust systems Strong resilience Access to technologies from Built to withstand disruptions Achieved through alternative strategies, a diverse range of providers. and external influence. reduce
Slide 58: Spotlight: public sector
Spotlight: public sector. Delivering B2G innovation. Advancing digitalisation. Proactive approach. Europe-wide coverage. Specialised expertise. We engage with public sector IT Dedicated IT experts for the Dedicated specialists tailor experts early to clarify needs public sector at 90 sites across se
Slide 59: Bechtle Sustainability Strategy 2030
Bechtle Sustainability Strategy 2030. Our four strategic areas of action. ETHICAL BUSINESS We embrace an The PEOPLE We shape PRACTICES are ENVIRONMENTAL we work with a sustainable a matter of course. approach in everything drive our success. DIGITAL FUTURE. we do. We drive future-facing We take resp
Slide 60: Bechtle Climate Protection Strategy 2030
Bechtle Climate Protection Strategy 2030. Net-zero emissions by 2050 in line with SBTi targets. Our targets. • Our climate objectives are in line with the 1.5 °C Paris Agreement goal set in 2015. • Bechtle AG has received official confirmation from the Science Based Targets Initiative (SBTi) that it