Bechtle optimistic for FY 2024

EQS-News: Bechtle AG / Key word(s): Half Year Results/Interim Report Bechtle optimistic for FY 2024 09.08.2024 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. Bechtle optimistic for FY 2024

 

• Business volume up by 0.9 per cent in Q2
• Operative cashflow more than doubled to €141.2 million
• Forecast on par with previous year’s level
• Continuation of European M&A strategy

 

Neckarsulm, 9 August 2024 – In the second quarter of 2024, Bechtle AG's business was more strongly affected by the adverse macroeconomic conditions than at the beginning of the year. Nevertheless, the business volume rose by around 1 per cent to €1,831.5 million. By contrast, revenue fell slightly by 2.3 per cent. Earnings before taxes (EBT) did not reach the very high benchmark figures of the previous year, totalling €83.8 million (previous year: €93.8 million). The EBT margin fell from 6.2 per cent to 5.7 per cent.

 

"We are comparing our second quarter with a very strong previous year. However, there was less demand from SMEs throughout the quarter and particularly in June this year. In addition, public-sector customers in Germany were still being unusually cautious as a result of the lengthy budget debate. But even though the second quarter did not live up to our own expectations, we continue to see very good growth opportunities for Bechtle in the medium and long term," says Dr Thomas Olemotz, CEO, Bechtle AG.
 

Operative cashflow developing strongly

Operative cashflow developed very positively again, totalling €141.2 million in the first half of 2024 (previous year: €65.0 million)—an improvement of €76.2 million. The reduction in trade receivables and inventories remained at a very high level and the lower reduction in trade payables also had a positive effect in the reporting period. At €72.8 million, free cashflow also showed a significant increase (previous year: -€65.8 million).