COMPANY PRESENTATION 1ST QUARTER Bechtle AG Neckarsulm, May 2012

Transcription

1 COMPANY PRESENTATION 1ST QUARTER 2012 Bechtle AG Neckarsulm, May 2012

2 CONTENTS Corporate development Business model Customers Competition Economic conditions Business development 2012.Q1 The Share Vision 2020 Investment Case 2 Bechtle AG May 2012 Dr. Thomas Olemotz

3 CORPORATE DEVELOPMENT Sustainable Growth % EBT in million of euros since IPO on 30 March , ,908 3,888 4,250 4,450 4,354 4,766 5,479 10,000 5 bn Employees ,370 1,680 2,106 2,254 2,515 1,088 1,178 1,220 1,383 1,431 1,379 1,723 1,995 Vision 2020 Revenue in million Bechtle AG May 2012 Dr. Thomas Olemotz

4 COMBINED BUSINESS MODEL The Bechtle Group BECHTLE AG Michael Guschlbauer Dr. Thomas Olemotz Jürgen Schäfer Central functions: Academy Controlling Finance Information Technology Investor Relations Human Resources and Staff Development Quality Management Legal and Compliance Privacy Protection Corporate Communications Event Management IT system house & managed services segment IT e-commerce Segment IT system houses Managed services Bechtle direct Comsoft direct ARP Training Centres Competence Centre Software and Application Solutions Division Public-Sector Division Logistics & Service: Address Management Marketing Purchasing European Logistics Warehouse Product Management Returns and Replacement Management 4 Bechtle AG May 2012 Dr. Thomas Olemotz

5 REGIONAL PRESENCE with a tight network of IT system houses Independent provider of IT infrastructure services Acquisitions complement regional presence and technical expertise Some 65 sites across DACH 4,300 employees Approx. 1,000 sales representatives in the field A service staff of approx. 2,400, of which 1,800 are system and service technicians 2011 Revenue: 1,316 million (approx. 66% of consolidated group revenue) 5 Bechtle AG May 2012 Dr. Thomas Olemotz

6 INTERNATIONAL GROWTH Expansion in e-commerce Direct sales via online shops, catalogues and telephone International multi-brand strategy: Bechtle direct in 14 countries ARP in 5 countries Comsoft in 8 countries More than 47,000 products More than 21,000 customer-specific bios shops 1,200 employees 2011 revenue: 679 million (approx. 34 % of consolidated group revenue) 6 Bechtle AG May 2012 Dr. Thomas Olemotz

7 CUSTOMERS Focus on business-to-business and business-to-government Services Commerce 2,000 PCs Corporate groups 250 PCs 50 PCs Large and medium-sized companies Regional SMBs IT Infrastructure Solutions IT Operation Bechtle direct ARP Comsoft direct 20 PCs Local SMBs 3 PCs Small businesses 7 Bechtle AG May 2012 Dr. Thomas Olemotz

8 COMPETITION TOP 10 system houses in Germany Revenue in Germany (million ) Employees in Germany (31.12.) Rank Company (1) Computacenter Germany 1,173 1,045 4,000 4,000 2 (2) Bechtle AG 1, ,471 3,158 3 (3) Cancom AG ,908 1,752 4 (4) Comparex AG (5) Allgeier Holding AG ,339 1,235 6 (6) Fritz & Macziol GmbH (7) ADA GmbH (9) Dimension Data Germany AG (8) Profi Engineering Systems AG (10) SVA System Vertrieb Alexander GmbH Second in revenue, first in profitability. Source: ChannelPartner (August 2011) 8 Bechtle AG May 2012 Dr. Thomas Olemotz

9 BUSINESS DEVELOPMENT IN 2012.Q1 9 Bechtle AG May 2012 Dr. Thomas Olemotz

10 ECONOMIC CONDITIONS Benchmark Data for 2012 Hardware + 2.4% 12.0 bn +3.9% 64.5 bn Software +5.2% 17.0 bn Hardware -2.5% 2.0 bn +2.5% 12.2 bn Software +4.9% 3.5 bn Hardware -0.9% 1.2 bn +2.6% 6.7 bn Software +4.7% 1.6 bn IT-Services +3.8% 35.5 bn IT-Services +2.7% 6.7 bn IT-Services +2.9% 3.9 bn Source: EITO (December 2011) DACH IT market expected to grow by 3.6% in 2012 Growth expected to increase once again compared to 2011 (1.2%) Of the three segments, hardware shows the weakest growth at 1.5% At 5.1%, software is a growth catalyst Bechtle plans to take advantage of the opportunities presented to it by the positive market conditions by growing faster than the industry average. 10 Bechtle AG May 2012 Dr. Thomas Olemotz

11 REVENUE DEVELOPMENT By segment Q vs. Q Q Q % % % [in million euros] IT system house & managed services IT e-commerce Total Bechtle can record significant growth in its System House segment Development in the E-commerce segment reflects the uncertain overall economic situation. 11 Bechtle AG May 2012 Dr. Thomas Olemotz

12 EARNINGS DEVELOPMENT By segment Q vs. Q Q Q EBIT EBIT EBT 5.5 % % 14.6 % [in million euros] IT system house & managed services Margin 3.4 % Margin IT e-commerce 4.8 % 3.3 % 4.0 % Margin Total 4.0 % 3.5 % E-commerce EBIT under pressure Positive development in System House business. 12 Bechtle AG May 2012 Dr. Thomas Olemotz

13 EAT AND EPS Q vs. Q EAT EPS 6.5 % 6.5 % Q Q Q Q [in million euros] [in euros] Increase in personnel weakens results. 13 Bechtle AG May 2012 Dr. Thomas Olemotz

14 EARNINGS DEVELOPMENT vs Q Q Equity capital % Return on equity % Return on total assets % Liquidity* % [in million euros] [* including time deposits and securities] Solid equity ratio of 56.3% and comfortable liquidity level ensure sufficient room for future growth. 14 Bechtle AG May 2012 Dr. Thomas Olemotz

15 THE BECHTLE SHARE Performance 36 02/01/ /05/ Stock Exchange Figures (18/05/12) 34 Market Capitalisation 658 million Dividend ) Dividend yield 2) Dividend payout ratio % 33.5% Bechtle TecDAX (indexed) DAXsubsector IT-Services (indexed) J 12 F 12 M 12 A 12 M 12 Performance ytd - Bechtle - DAX - TecDAX - DAXsubsector IT-Services 18.7% 3.2% 6.1% 10.3% 1) AGM Proposal 2) Dividend in relation to year-end share price Share price reflects the positive business development. 15 Bechtle AG May 2012 Dr. Thomas Olemotz

16 DIVIDEND DEVELOPMENT Since IPO Earnings after taxes in million Dividend in cent AGM Proposal Reliable distribution and continually increasing dividends Dividend yield: 3.8%. 16 Bechtle AG May 2012 Dr. Thomas Olemotz

17 VISION 2020 Bechtle AG Our goal for 2020 is 10,000 employees and a revenue of 5 thousand million Euros. IT system house & managed services Leading IT partner for SMBs and public-sector businesses. Represented throughout the DACH region. IT e-commerce Number 1 in Europe. Proceeding with the internationalisation also beyond Europe. 17 Bechtle AG May 2012 Dr. Thomas Olemotz

18 10 GOOD REASONS For manufacturers and customers to choose Bechtle Business model Unique. Sustainable. Qualifications More than 2,400 specialists. Competent. Dedicated. Certified. Decentralised management and decision making structure Reliable and stable. Specialisation Bundled in 13 Competence Centres. Over 2,000 certifications. Experience Over 75,000 customers. Always the right solution. Everything from one source All the leading manufacturers. Regional presence 65 system houses. Always nearby. Financial stability Financing. Strong equity. Liquidity. Vision 2020 Goal-oriented. Ambitious. Realistic. Strong business culture Stability. Reliability. Perseverance. Inspiration. 18 Bechtle AG May 2012 Dr. Thomas Olemotz

19 Head of Investor Relations Thomas Fritsche Tel.: , Investor Relations Martin Link Tel.: , 19 Bechtle AG May 2012 Dr. Thomas Olemotz