Bechtle Aktiengesellschaft

BC8

Equity

ISIN DE0005158703 / Valor 1060508

Xetra (2026-10-02)

EUR 34.24-0.47%

Bechtle Aktiengesellschaft
UMushroom community rating:

4.50 2 votes No rating yet

NegativeNeutralPositive

About company

Bechtle Aktiengesellschaft, founded in 1983 in Heilbronn, Germany, has grown to become one of Europe's leading IT companies. With a focus on IT accessories, connection technology, and a wide range of hardware and software products, Bechtle offers a comprehensive portfolio to meet the needs of its customers. The company's expertise in IT architecture allows them to provide support for traditional infrastructures as well as cutting-edge technologies such as digitalization, cloud computing, and security. Through online shops, e-procurement platforms, and personalized customer service, Bechtle ensures that clients have access to the latest IT solutions. Additionally, the company's network of Competence Centres provides expert support for a variety of complex IT topics, solidifying Bechtle's reputation as a trusted partner in the IT industry.

Summarized from source with an LLMView SourceSector: Technology

Top-line performance

Q2 2026 business volume was €2,274.1m (Q2/2025: €1,925.5m; H1 2026: €4,501.3m, +15.6% y/y) and Q2 revenue was €1,732.2m (H1 2026: €3,303.9m, +12.1% y/y). Organic growth was strong (H1 organic ~11.9% for business volume; Q2 organic ~12.9% for business volume).

Profitability and EPS

Q2 EBITDA was €126.7m and EBIT €84.1m; H1 2026 EBITDA €234.2m (+15.7%) and EBIT €149.2m (+18.9%). H1 EBT was €141.8m (+16.2%) with an EBT margin of 4.3%. H1 earnings after tax attributable to shareholders were €102.8m (EPS €0.82; +18.8%). Q2 EPS was €0.46 (Q2/2025: €0.38).

Orders and backlog

Incoming orders in H1 2026 were €4,826m (+21.1% y/y) and the order backlog reached a record €3,535m as of 30 June (+10.1% vs 31 Dec 2025), underpinning near‑term revenue visibility.

Cash flow & working capital

Operating cash flow was negative at −€101.7m for H1 2026 (Q2 operating cash flow −€112.5m), driven by a large build‑up in inventories (cash outflow of −€227.3m) and higher contract assets; free cash flow was −€186.8m. DSO improved to 37.4 days.

Balance sheet & financing

Balance sheet total €4,907.3m; cash and equivalents incl. time deposits/securities €537.5m. Equity €2,074.0m (equity ratio 42.3%, down from 44.9% at year‑end). Net debt rose to €338.9m following placement of a €450m Schuldschein in June 2026 to fund growth and acquisitions.

Regional/segment highlights

All segments grew: Germany business volume +9.7% (revenue +5.6%), France BV +10.4% (revenue +4.9%), Benelux BV +11.9% (revenue +12.7%) and Other Europe BV +40.1% (revenue +36.4%), with Other Europe particularly benefiting from acquisitions; H1 EBIT improvements were broad‑based.

Outlook

The Executive Board raised the FY 2026 forecast: business volume now expected to grow >10% (previously 5–10%); revenue and EBT now expected to grow 5–10% (previously 0–5%); EBT margin still expected to decline slightly year on year despite the upgrade.

Summarized from source with an LLMView Source

Key figures

-11.9%1Y

-21.9%3Y

-41.9%5Y

Performance

41.3%1Y

35.9%3Y

35.8%5Y

Volatility