Bechtle (BC8) investor relations material

Executive summary

• Achieved double-digit growth in business volume, revenue, and earnings in Q1 2026, with all segments and regions contributing and a record order backlog of €3.3 billion.

• Order intake increased by 16.9% year-over-year to €2,357 million, supporting robust demand across business and public-sector customers.

• Growth was broad-based, with notable performance in France, Benelux, and Other Europe, and strong public sector and industrial demand.

• Headcount increased by 4.9% to 16,496, driven by acquisitions, especially in Other Europe.

Financial highlights

• Business volume grew 13.2% year-over-year to €2,227 million; revenue up 7.6% to €1,572 million, with organic growth at 11%.

• EBIT rose 14.0% to €65.2 million; EBT up 11.5% to €61.6 million; EBIT margin on revenue improved to 4.1%.

• Operating cash flow improved to €10.7 million from -€21.0 million in Q1 2025.

• DSO improved to 28 days from 39 days in the previous quarter.

• Liquidity at €372.6 million as of March 31, 2026, down 17.6% year-over-year.

Outlook and guidance

• Full-year 2026 guidance confirmed, expecting continued profitable growth, with business volume growth of 5–10% and EBT growth of 0–5%.

• Record order backlog and strong public sector demand support a positive outlook, though visibility for the second half is limited due to geopolitical and vendor-driven price uncertainties.

• IT investment levels for 2027 expected to be flat or slightly higher than 2026.