Bechtle (BC8) Q3 2025 earnings summary

Executive summary

• Q3 2025 saw business volume and revenue growth year-over-year, marking a turnaround after several weak quarters, with international operations and acquisitions driving momentum.

• Succession planning is underway, with Konstantin Ebert designated as the next CEO and a new CFO appointed.

• Order intake increased 17.4% year-over-year in Q3, and order backlog reached €2,711 million.

Financial highlights

• Q3 2025 business volume rose 8.4% year-over-year to over €2 billion, with organic growth at 6.2%.

• Revenue for Q3 2025 increased 5.1% year-over-year to €1,511 million; 9-month revenue up 1.0% to €4,536.4 million.

• EBT for Q3 2025 was €80.5 million, up 2.4% year-over-year, with a margin of 5.1%.

• Operating cash flow in 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.

Outlook and guidance

• Management reaffirms full-year 2025 guidance, expecting continued positive trends in Q4.

• 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%.