Neckarsulm (dpa-AfX)-The IT service provider Bechtle sees a reconciliation of demand after a longer lull. The business volume attracted significantly in the second quarter, and sales could also increase. Compared to the weak of the year, the operational profit was also more gratifying. Impulse also came from abroad. But the prospects for public customers also improve in Germany, and there should be a stronger increase in the house in the second half of the year. The stock rose strongly on Friday after a strong previous day.
The paper increased up to twelve percent in early trade to 41.42 euros and was therefore the leader in the MDAX. Last week it was affected by the prospect of rival Cancom (Cancom SE). To date, the course has gained a quarter of a value in the current year – but last autumn it had also slipped significantly with the weak performance in the economically difficult environment.
The tone of Bechtle management has become much more optimistic, wrote analyst Martin Comtesse from the US investment bank Jefferies-especially compared to the competitor Cancom. For the first time, there was talk of a recovery again in connection with the public sector in Germany. With the growth of the business volume and the improvement of margins compared to the previous quarter, Bechtle is at a turning point, according to the specialist. According to Baader-Bank expert Knut Woller, profitability in the quarter was unexpectedly good.
The business volume rose by 5.1 percent in the second quarter compared to the same period last year, as the group announced on Friday in Neckarsulm. The business in Belgium, the Netherlands and Luxembourg and Great Britain still developed well. With the important public customers in Germany, demand is slowly attracting again. The positive trend in demand continued in July.
“Although we are still removed from the growth values, which we set ourselves and trust ourselves, we are back on the growth path with the development in the second quarter,” said CEO Thomas Olemotz according to the announcement. With public customers in Germany, Bechtle was able to expand the business volume by five percent in the second quarter. The growth should continue to grow here, especially from late summer.
In the three months of April to June, sales climbed 0.8 percent to 1.49 billion euros as expected. In contrast to the business volume, which is a good distance above the turnover, Bechtle cannot creditor sales of software with the full sales price as proceeds.
The input tax gain the result of a fifth by a one -up effect in the previous year to 66.8 million euros, but it was somewhat better than expected from experts. The situation was improved compared to the previous quarter, it said from the group. The bottom line was that the net profit also decreased by a fifth to 47.7 million euros.
Olemotz confirmed the annual forecast. In France and Germany, the high uncertainty continues to vibrate the customer’s tendency to invest, the situation is therefore still tense. In 2025, the overall business volume should grow slightly, sales are expected to be a little weaker because the software business is going well. Olemotz sees the input tax result in a range from minus to plus five percent at the previous year’s value of 345 million euros. He wants to close the gap in the result from the first half of the year: “This is ambitious, but possible.”/Men/NAS/e.g.
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