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Bechtle (BC8) investor relations material
Bechtle Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary14 Nov, 2025
Executive summary
Q3 2025 saw a positive turnaround with business volume up 8.4% year-over-year, driven by strong international operations and acquisitions, while succession planning and leadership continuity were announced.
International segment led growth, with international revenue up 16.5% and business volume up 17% in Q3, while German and French markets lagged due to macroeconomic challenges.
Order intake increased 17.4% year-over-year in Q3, and order backlog reached €2,711 million.
Acquisitions and organic workforce changes contributed to a 4.4% headcount increase, with organic headcount down 1.6%.
Announced CEO succession plan and new CFO appointment, with Konstantin Ebert to succeed Dr. Thomas Olemotz after 2026.
Financial highlights
Q3 2025 business volume exceeded €2 billion for the first time, rising to €2,049 million, and revenue increased 1.0% year-over-year to €1,511 million.
EBT for Q3 2025 was €80.5 million, with a margin of 5.1%, and EBIT for Q3 rose 3.4% to €83.5 million.
Operating cash flow for Q3 2025 was nearly €125 million, but for the nine months dropped 48.5% year-over-year to €149.1 million.
Basic EPS for the nine months was €1.14, down from €1.38 a year earlier.
Equity ratio increased to 47.9% as of 30 September 2025.
Outlook and guidance
Management reaffirms full-year 2025 guidance, expecting continued positive trends in Q4 and a strong finish.
Achieving annual EBT targets requires Q4 EBT growth of just under 25%, considered ambitious but achievable.
Forecast for 2025: business volume growth of 0% to +5%, revenue change of -3% to +3%, and EBT change of -5% to +5%.
Public sector growth expected to strengthen in Q4, with international diversification providing resilience.
Continued M&A activity anticipated to support future growth.
What drove the Q3 EBIT turnaround?
Explain operating cash flow decline and working capital rise.
What is the organic employee growth strategy?
Detail Q3 EBT growth drivers
How M&A reduced market dependence
Purpose of Bechtle Index of Sovereignty
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Frequently asked questions
Bechtle AG is an IT services and solutions provider that offers a wide range of products and services to businesses and public sector clients. The company specializes in IT infrastructure, cloud solutions, managed services, and software licensing. Bechtle operates an extensive e-commerce platform and provides consulting and implementation services to support digital transformation and IT modernization projects. The company is headquartered in Neckarsulm, Germany, and its shares are listed on the FSE (Frankfurt Stock Exchange).
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