Bechtle (BC8) Company presentation summary

Company overview and market position

• Operates as a leading European IT solutions provider with activities in 14 countries and a broad portfolio covering hardware, software, cloud, AI, and managed services.

• Achieved €8.6 billion business volume in 2025, with a balanced B2B/B2G customer base and over 16,000 employees.

• Maintains a strong market position as the #1 IT provider in Germany and a top player in Europe, outgrowing the German IT market with an 11.9% 10-year CAGR.

• International business is gaining importance, with significant growth in Benelux, France, and other European regions.

• Broad vendor partnerships (~270 partners) and a multi-channel sales strategy support comprehensive IT solutions.

Business model, strategy, and investment case

• Pursues profitable growth with a target of €10 billion business volume and a 5% EBT margin by 2030.

• Decentralised business model fosters agility, accountability, and customer proximity, supported by a strong European footprint.

• M&A strategy has resulted in 125 acquisitions, adding €1.5 billion in business volume over 10 years and expanding presence in key European markets.

• Focuses on digitalisation, sustainability, and innovation, including cloud, AI, and digital sovereignty solutions.

• Financial strength is underpinned by robust cash generation, a stable dividend policy, and a significant anchor shareholder holding 35%.

Financial performance and outlook

• Q1 2026 saw business volume up 13.2% and revenue up 7.6% year-over-year, with double-digit EBIT and EBT growth and stable to slightly improved margins.

• Order backlog reached record levels, reflecting strong demand across all customer groups.

• Growth was broad-based across Germany, France, Benelux, and other European regions.

• Operating cash flow turned positive in Q1 2026 after negative flows in prior years.

• 2026 outlook expects business volume growth of 5–10%, revenue and EBT growth of 0–5%, with continued investment in internal IT and resilience to industry challenges.