Bechtle Ag (BHTLF) Q3 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.085 Welcome to our analyst conference on Bechtle AG's third quarter of 00:00:05.085 -- 00:00:07.627 2025. Thank 00:00:07.653 -- 00:00:10.194 you for your interest. 00:00:11.744 -- 00:00:17.334 Ladies and gentlemen, As you all know, we have had some very turbulent 00:00:17.334 -- 00:00:22.642 quarters, quarters in which Bechtle's business volume growth 00:00:22.642 -- 00:00:28.091 was unusually low, quarters in which our earnings were below 00:00:28.091 -- 00:00:30.074 those of 00:00:30.074 -- 00:00:35.722 the same period last year. Although the reasons were understandable, the situation 00:00:35.722 -- 00:00:40.628 was nevertheless unfamiliar and unsatisfactory for all of us. 00:00:40.628 -- 00:00:45.675 Today, however, we can look back on a quarter in which the signs are finally pointing 00:00:45.675 -- 00:00:50.781 in the right direction. Business volume, revenue, and earnings are up and 00:00:50.781 -- 00:00:56.849 have improved year on year. Is this the long-awaited lasting turnaround? 00:00:56.849 -- 00:01:02.175 I don't want to dampen the excitement right at the start, but unfortunately, 00:01:02.175 -- 00:01:07.080 we won't be able to answer that question definitively today. 00:01:07.080 -- 00:01:12.146 However, we will take a closer look at where the improvements in the third quarter 00:01:12.146 -- 00:01:16.711 came from and why we're optimistic about Q4. 00:01:16.711 -- 00:01:22.482 As usual, today's presentation is divided into three main sections. 00:01:22.482 -- 00:01:27.611 As usual, we start with the more detailed look 00:01:27.611 -- 00:01:32.620 at our key economic indicators for the third quarter and the first 00:01:32.620 -- 00:01:38.250 nine months of the 2025 financial year, both at 00:01:38.250 -- 00:01:42.774 gro...