Bechtle Ag (BHTLF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to our analyst conference on Bechtle AG's third quarter of 2025. Thank you for your interest. Ladies and gentlemen, As you all know, we have had some very turbulent quarters, quarters in which Bechtle's business volume growth was unusually low, quarters in which our earnings were below those of the same period last year. Although the reasons were understandable, the situation was nevertheless unfamiliar and unsatisfactory for all of us. Today, however, we can look back on a quarter in which the signs are finally pointing in the right direction. Business volume, revenue, and earnings are up and have improved year on year. Is this the long-awaited lasting turnaround? I don't want to dampen the excitement right at the start, but unfortunately, we won't be able to answer that question definitively today. However, we will take a closer look at where the improvements in the third quarter came from and why we're optimistic about Q4. As usual, today's presentation is divided into three main sections. As usual, we start with the more detailed look at our key economic indicators for the third quarter and the first nine months of the 2025 financial year, both at group level and at segment level. This will be followed by some important strategic events beyond the figures that are important for the future of the company before we end up with the outlook for 2025 and the end of the year, so the next few weeks in fact. But first of all, Let's take a look at business development. Ladies and gentlemen, the third quarter saw encouraging developments. You will no doubt have seen the figures in our press release earlier today. However, this does not mean that the all clear can be given across the board. We still see regions and areas where we face major challenges. Unfortunately...