But high personnel costs: strong German business supports Bechtle


With the high increase in sales, the TecDax-listed company surprised the market on Friday. The profit, however, fell short of expectations. The reason for the decline was the rise in personnel costs due to strong expansion. Bechtle had just under 700 employees in the second quarter more than a year earlier - this corresponds to an increase of about 14 percent, as the group announced on Friday. In early trading, the share fell 2.55 percent to 30.60 euros and was therefore lagged in the TecDax.

Sales increased by 8.4 percent year-on-year to € 495.3 million. Analysts had expected something less. Earnings before interest and taxes (EBIT) fell by 21 percent to 15.4 million euros due to high personnel costs and price pressure in e-commerce. All in all, profit fell by a quarter to 10.8 million euros. For the year as a whole, Bechtle continues to aim for an increase of the previous year's turnover of two billion euros.

"Although we felt the effects of the euro crisis in some European countries, we were nevertheless able to noticeably increase our growth in the second quarter, and we succeeded in further strengthening our competitive position in our home market, which is important to us, " said CEO Thomas Olemotz.

Bechtle owes the sales boost exclusively to its home business. Especially the system house division increased significantly. The reason is that the middle class, on which Bechtle has specialized, continued to invest heavily. The e-commerce business also grew. The operating profit even pulled past the traditional system houses. Despite the price pressure in the trading business, e-commerce posted an EBIT of 8.8 million euros, system houses only 6.6 million euros due to the high costs. (Dpa / tc)