Bechtle Ag · XETR:BC8
Bechtle — Analysts' Conference 2014
22 slides from Bechtle's conference presentation, Mar 18, 2014
Slide 1: Analysts' Conference 2014
Your strong IT partner. Today and tomorrow ANALYSTS’ CONFERENCE 2014. Bechtle AG Frankfurt, 18 March 2014
Slide 2: Agenda
AGENDA. Economic conditions News and updates 2013/2014 Business development in 2013 Shares and dividends Forecast for 2014 2 | Bechtle AG | March 2014
Slide 3: General Economic Conditions: The IT Industry in 2013
General Economic Conditions. The IT Industry in 2013 Hardware Software Hardware Software -3.8% +4.9% -0.7% +3.4% €14.3 bn €18.1 bn €67.8 bn €74.9 bn +1.7% +1.4% €68.0 bn €341.5 bn IT services IT services +2.4% +1.3% €35.7 bn €198.7 bn Source: EITO October 2013 DACH region: Projected growth: +1.9%
Slide 4: The Latest Developments at Bechtle: Managed Services Expansion
THE LATEST DEVELOPMENTS AT BECHTLE. 2013/2014 Expansion of Managed Services. April 2013: 58 IBM employees joined Bechtle On-site Services February 2014: Acquisition of Amaras AG and its 33 employees Cooperation with Freudenberg IT for outsourcing projects Additional Support for Software Busine
Slide 5: The Latest Developments at Bechtle: Public Sector Success
THE LATEST DEVELOPMENTS AT BECHTLE. 2013/2014 Success in Public Sector Division. Second successful tender for the Bundeswehr: PCs, monitors, printers, other peripherals, servers— including planning, installation, deployment and operation of IT networks (clients/servers) New contract with Datapor
Slide 6: The Latest Developments at Bechtle: Cloud Computing
THE LATEST DEVELOPMENTS AT BECHTLE. 2013/2014 Significant Progress in Cloud Computing. Bechtle launched Bechtle Secure Cloudshare, a secure business-class file-sharing platform, as an alternative to popular cloud services Bechtle named Cloud Advisor by Citrix As of July 2013, Bechtle is the fi
Slide 7: The Latest Developments at Bechtle: Trainees and Personnel
THE LATEST DEVELOPMENTS AT BECHTLE. 2013/2014 High Number of Trainees. The percentage of vocational trainees entering the German market rose to a healthy 9.2% (PY: 8.6%) Bechtle reported 473 vocational trainees, 425 of them in Germany on 31.12.13 Personnel. Citing personal reasons, Klaus Winkl
Slide 8: The Latest Developments at Bechtle: International Alliance
THE LATEST DEVELOPMENTS AT BECHTLE. 2014 International Alliance with US Company. Cooperation agreement with US company PC Connection expands international strategy Increasing demand for internationally active companies makes it necessary to develop a global network Potential for additional par
Slide 9: Group Revenue Development
GROUP REVENUE DEVELOPMENT. 2013 vs. 2012 by Quarter 2012 2013 +8.4% +5.4% +4.7% +11.4% +11.4% 2,273 2,097 559 612 682 488 514 495 519 502 Q1 Q2 Q3 Q4 Total [€ m.] Significantly stronger growth over the course of the year. 9 | Bechtle AG | March 2014
Slide 10: Revenue Development by Region
REVENUE DEVELOPMENT. By Region – 2013 vs. 2012 2012 2013 +8.4% +9.6% +6.0% 2,273 2,097 1,571 1,434 663 703 Domestic Abroad Total [€ m.] Above-average growth abroad and domestically. 10 | Bechtle AG | March 2014
Slide 11: Revenue Development by Segment
REVENUE DEVELOPMENT. By Segment – 2013 vs. 2012 +8.4% 2012 2013 +10.1% +5.1 % 2,237 2,097 1,535 1,394 702 738 IT System House & IT E-commerce Total Managed Services [€ m.] System houses and managed services show double-digit growth. 11 | Bechtle AG | March 2014
Slide 12: Group Gross Margin
GROUP GROSS MARGIN. Development since Q1.2010 15,8 15,3 15,1 15,0 15,3 14,7 14,8 15,2 15,0 14,1 14,4 14,9 14,8 13,5 13,5 13,8 Q1.10 Q2.10 Q3.10 Q4.10 Q1.11 Q2.11 Q3.11 Q4.11 Q1.12 Q2.12 Q3.12 Q4.12 Q1.13 Q2.13 Q3.13 Q4.13 [in %] High gross margin in 2013. 12 | Bechtle AG | March 2014
Slide 13: Earnings Development (EBT)
EARNINGS DEVELOPMENT (EBT). 2013 vs. 2012 by Quarter 2012 2013 +13.0% -17.3% -3.2% +34.9% +25.7% 89.3 79.0 35.9 24.7 28.5 17.0 14.1 15.1 14.6 18.3 Q1 Q2 Q3 Q4 Gesamt Total Margin Margin Margin Margin Margin 3.5% 3.0% 3.7% 4.7% 3.8% 2.7% 2.8% 4.4% 5.3% 3.9% [€ m.] Extraordinary growth in third and fo
Slide 14: Earnings Development (EBIT) by Segment
EARNINGS DEVELOPMENT (EBIT). By Segment – 2013 vs. 2012 2012 2013 +13.4% +26.8% -3.0% 91.0 80.3 56.2 44.3 35.9 34.9 IT System House & IT E-Commerce Total Managed Services [€ m.] Margin Margin Margin 3.2% 5.1% 3.8% 3.7% 4.7% 4.0% Impressive development in system house and managed services segment. 14
Slide 15: Employee Development by Segment
EMPLOYEE DEVELOPMENT. By Segment – 2013 vs. 2012 2012 2013 +4.2% +4.2% +4.1% 5,970 6,219 4,754 4,953 1,216 1,266 IT System house & Managed Services IT E-Commerce Total Employee growth the same in both business segments. 15 | Bechtle AG | March 2014
Slide 16: Group Employee Development
GROUP EMPLOYEE DEVELOPMENT. Since Q1 2010 6,150 6,219 5,978 5,970 5,959 6,053 5,750 5,584 5,479 5,357 5,139 4,875 4,766 4,604 4,374 4,440 Q1.10 Q2.10 Q3.10 Q4.10 Q1.11 Q2.11 Q3.11 Q4.11 Q1.12 Q2.12 Q3.12 Q4.12 Q1.13 Q2.13 Q3.13 Q4.13 Employment growth noticeably slower since Q3 2012. 16 | Bechtle AG
Slide 17: Selected Key Financial Figures
SELECTED KEY FINANCIAL FIGURES. 2013 vs. 2012 31.12.2012 31.12.2013 2013 2012 459.6 Equity +9.1% Return on equity % 14.2 13.7 501.6 Return on total assets % 8.2 7.9 146.2 Liquidity* +6.8% ROCE % 20.6 19.6 156.1 19.5 Free Cashflow +121.3% 43.1 [€ m.] [* including time deposits and securities] Solid e
Slide 18: The Bechtle Share
THE BECHTLE SHARE. Performance 2.1.13 14.3.14 €30.93 €54.03 60 € Market Figures (14.3.14) 55 € Market capitalisation €1,135 m. 50 € Performance: 45 € - Bechtle 74.7% 40 € - DAX 16.4% 43.8% - TecDAX 35 € - DAXsubsector 75.0% 30 € Bechtle IT Services TecDAX (indexed) DAXsubsector IT Services (indexed)
Slide 19: Dividend Policy
DIVIDEND POLICY. Continuity 62,7 63,4 56,4 45,4 46,4 41,0 34,3 29,3 29,6 Earnings after taxes 25,3 18,6 1 in € m. 110 9,0 12,0 15 100 5,2 85 75 60 60 60 50 50 40 30 25 25 25 Dividends in € cents 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 1 AGM proposal Dividend yield: 2.2%
Slide 20: General Economic Conditions: IT Sector 2014
General Economic Conditions. IT Sector 2014 Hardware Software Hardware Software -1.9% +5.1% +2.4% +4.4% €14.0 bn €19.0 bn €69.4 bn €78.2 bn +2.6% +3.0% €69,8 bn €351.7 bn IT services IT services +3.2% +2.7% €36.8 bn €204.0 bn Source: EITO October 2013 DACH region: In total, the market is projected
Slide 21: Forecast 2014 Fiscal Year
FORECAST. 2014 Fiscal Year Revenue. Continued growth at an above-market-average rate in 2014. Significant gains over the last year Further expansion of the solutions and service business Earnings. Increased earnings and improved margin Employees. Moderate growth (excluding new employees thro
Slide 22: Any Questions?
Your strong IT partner. Today and tomorrow ANY QUESTIONS?