Stuttgart The IT service provider Bechtle is one of the beneficiaries of the corona crisis. The digitization push through the relocation of workplaces to the home office plays into the cards of the company listed in the MDax as well as the significantly increasing demand from public clients for IT infrastructure and services.
“The share of sales from orders from authorities and governments has risen from 30 to 35 percent,” said CEO Thomas Olemotz in a conference call on the quarterly figures. As an example, he cited the major order from the state of Lower Saxony, which had placed Swabia as the central IT service provider.
“Overall, we had a very strong first half-year,” emphasized the CEO. The positive trend continued in July. He reiterated the expectation that sales and earnings for the year as a whole will increase by at least five percent.
In the second quarter, the IT service provider increased revenues by 3.9 percent to 1.3 billion euros. The operating result (EBIT) improved by 4.3 percent to 60 million euros. The bottom line was that profit rose 4.1 percent to 40.8 million euros. Corona has also led to significant cost reductions at the company, says Olemotz.
The travel costs and the costs for the fleet of 3,500 vehicles have fallen significantly in the pandemic. The CEO emphasized that Bechtle was able to deliver at all times due to the good and long-term relationships with the hardware manufacturers.
The high expectations of Bechtle are now becoming noticeable on the capital market. Despite the robust numbers, the share price initially collapsed 3.7 percent to 162 euros. But analysts see no cause for concern, especially since the share has doubled its value again since the general stock market low at the height of the corona crisis in mid-March.
Share: Bechtle among the 50 largest listed companies
With a market capitalization of around seven billion euros, Bechtle is now one of the 50 largest listed companies in Germany. The largest shareholder is the founding Schick family with a good 35 percent of the shares. For years, the company has grown with four to five acquisitions a year. There is enough money in the till even during Corona times.
Olemotz put the liquidity at 237 million euros. In addition, there would be a credit line in the three-digit million range. The Swabian equity ratio is a very solid 42.7 percent. After an acquisition in the first half of the year, the CEO announced further acquisitions this year. The number of employees rose by 1,000 within a year to just under 12,000.
The company, which is headquartered in Neckarsulm, has no fear of contact with American IT giants: The Swabians have recently become medium-sized partners for the Google Become the cloud. Olemotz is particularly proud of the project to digitize the education system with the Hasso Plattner Institute. Bechtle is together with Dataport, Capgemini and Ionos responsible for the technical operation as well as the consulting and further development of the school cloud.
More: Spring report 2020: Demand for IT experts unbroken despite Corona.