Expectations fulfilled
As previously, the Executive Board of Bechtle AG considers the company’s economic position as of the reporting date to be good. Despite the known challenging framework conditions, particularly in Germany and France, the figures for the 2025 reporting period show that the consistent internationalisation in Europe makes the Bechtle Group more robust against weaknesses in individual markets. Once again, this proves the company’s economic strength and reliability. In 2025, Bechtle fulfilled a large part of the forecasts made on the basis of the 2024 fiscal year. In the forecast for earnings before taxes, the actual figure came very close to the forecast range and met the expectations of the capital market.
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Forecast AR 2024 |
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Actual 2025 |
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Comparison |
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Business volume1 |
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0% to 5% |
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+8.1% |
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Overfulfilled |
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Revenue |
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−3% to +3% |
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+1.6% |
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Fulfilled |
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Cost of sales |
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Development roughly in line with revenue |
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+0.9% |
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Fulfilled |
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Gross margin |
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> 17% |
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18.6% |
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Fulfilled |
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Distribution cost ratio |
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< 7% |
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7.6% |
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Not fulfilled |
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Administrative expense ratio |
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< 6% |
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6.6% |
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Not fulfilled |
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EBT1 |
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−5% to +5% |
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−6.0% |
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Not fulfilled |
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EBT margin1 |
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Slightly declining to stable |
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5.1% |
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Fulfilled |
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Dividend |
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Dividend payout ratio of about one third of earnings after taxes |
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Dividend payout ratio: 38.5%2 |
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Fulfilled |
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