Germany · Delayed Price · Currency is EUR Bechtle AG Earnings Call Transcripts
Fiscal Year 2026
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Double-digit growth in revenue and earnings was achieved in Q1 2026, with strong order intake and stable margins despite supply chain and pricing challenges. Growth was broad-based across all segments and regions, and full-year guidance is confirmed amid ongoing IT investments and macro uncertainties.
Fiscal Year 2025
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2025 ended with strong growth in business volume and a record Q4, despite economic and supply chain challenges. Guidance for 2026 targets 5%-10% business volume growth and 0%-5% EBT growth, with ongoing investments in IT and AI, and a stable dividend policy.
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Q3 2025 saw a return to growth in business volume, revenue, and earnings, led by strong international performance and effective cost control. Achieving full-year EBT guidance hinges on a robust Q4, with public sector and vendor dynamics remaining key factors.
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C-Days 2025 showcased AI integration, digital sovereignty, and sustainability as core drivers of innovation and resilience. Key sessions highlighted practical AI use cases, security strategies, and the importance of partnerships for secure digital transformation. Attendees were urged to act now, embrace change, and leverage collaborative ecosystems for future success.
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Digital sovereignty, multi-cloud, and AI-driven modernization are at the forefront, with European providers closing the gap to global hyperscalers. Sustainability, security, and talent development are prioritized, while partnerships and innovation frameworks drive measurable business outcomes and resilience.
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Q2 2025 saw sequential improvement, with strong international and public sector growth, a record gross margin, and positive cash flow. Outlook for H2 is optimistic, driven by public sector demand and international expansion, though EBT may decline up to 5% for the year.
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Q1 2025 saw subdued results due to economic and political uncertainty, with cost pressures impacting earnings. Public sector business and software drove modest growth, while recovery is expected mainly in H2 2025, supported by strong framework agreements and liquidity.
Fiscal Year 2024
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2024 saw modest business volume growth but declining earnings due to weak demand from SMEs and the public sector, especially in Germany and France. Guidance for 2025 is cautious, with slight growth expected and EBT potentially down up to 5%, but public sector contracts and cloud business offer upside for H2.
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Q3 2024 saw weak demand and cost pressures, with business volume down 1.1% year-over-year but revenue up 2.2%. International growth and cash flow improved, while acquisitions and talent development continued. Outlook remains cautious, with future growth expected from digital and regulatory drivers.
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Mixed 2023 performance is offset by gradual public sector recovery and ambitious growth targets. Strategic focus on resilient public sector business, sustainability, and digitalization positions the company for future expansion, especially as AI, cybersecurity, and managed services gain importance.
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Performance in H1 2024 fell short of expectations due to weak demand and macroeconomic headwinds, prompting a rare forecast downgrade. Despite broad-based challenges, notable wins in public sector contracts and acquisitions support cautious optimism for gradual improvement in H2.