Bechtle Ag (BHTLF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen. Welcome to our analyst conference on the second quarter and thus the first half of 2025 at Bechler AG. Thank you very much for your interest. The news about the overall economic situation has been as changeable as the weather in recent weeks. Is the tariff dispute agreement to be viewed as positive or not? Will the government's investment booster bring the anticipated economic revival? And if so, when? A stock market analogy might be that bulls and bears these days both find enough food to strengthen their positions. And what is the situation like at Bechtle? On the one hand, we continue to see positive signals coming from some of our international markets. And German public sector clients are also showing the first cautious signs of a recovery in demand. On the other hand, there is little momentum from our SMB customers in Germany and the French market remains extremely challenging. Against this backdrop of contradictory framework conditions, we can be generally satisfied with the figures for the second quarter. For us, one thing counts above all else, We are moving in the right direction and all key figures are up compared to Q1. As usual, today's presentation is divided into three main sections. We'll start out with business development as reflected in the key economic figures for the second quarter and first half of 2025. of the current financial year, followed by news highlighting important events, important for the future of our company, things that go beyond the figures. And finally, we'll wrap up with an outlook for 2025. First of all, let's take a look at business development. We saw noticeable improvement in our operating business in the second quarter compared to Q1. We are not yet where we want to be, but the trend is p...