Report
Nicolas David

Bechtle AG : Fantastic Q3 margin, but only smaller beat on revenues

>Not a big revenue beat – limited impact from supply chain disruptions - Bechtle reported preliminary Q3 revenues of € 1,490m, up almost 9% y-o-y, whereas market expectation was slightly below 8%. We expect the e-commerce segment to remain the key growth engine, whereas the system house business should only be around flat y-o-y. The segment split will only be published with final Q3 results on 11 November though. All in all, Q3 top-line results translates into a c.1% ...
Underlying
Bechtle AG

Bechtle is engaged in the business as an information technology (IT) dealer. Co. provides IT services combining with online marketing of IT products. Co. provides vendor-independent, IT portfolio to its customers from the fields of industry and trade, the public sector and the financial industry. Co. operates within two segments: IT system house & managed services segment, which provides its customers with IT strategy consulting services, hardware and software, project planning and implementation, system integration, IT services, training and IT operation; and the IT e-commerce segment, which comprisesCo.'s Internet, catalogue and telesales trading activities.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Nicolas David

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