Bechtle did not grow as strongly as expected in the third quarter, but confirmed its annual forecast.
Although the business volume increased by 6 percent, according to the accounting rules, only an increase in sales of 1 percent was reflected in the profit statement, as the IT service provider announced. Sales reached 1.479 billion euros, while analysts had expected 1.557 billion euros.
The pre-tax result grew by 6.4 percent to 93.9 million euros. Here too, the analysts had expected more at 95 million euros. The pre-tax margin increased from 6.0 percent in the same quarter of the previous year to 6.3 percent. The order intake of Germany’s largest IT system house grew by 18.3 percent in the third quarter. The operating cash flow in the first nine months of 2023 was 190.2 million euros, which was significantly above the level of the previous year (minus 230.7 million euros).
Bechtle sees business development fully in line with its own expectations for the year as a whole. Sales and earnings are therefore expected to increase significantly for the year as a whole, as announced, and the margin should remain roughly at the previous year’s level.
Bechtle shares have now lost 5.83 percent to 42.80 euros in XETRA trading.
FRANKFURT (Dow Jones)
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