Forecast

• Executive Board raises forecast for 2026

• Economic conditions remain challenging

• Bechtle well positioned to navigate the current environment

Macroeconomy

According to the European Commission’s May 2026 forecast, economic growth in the EU is expected to pick up slightly in the coming months, at 0.3% in both the third and fourth quarters, compared with 0.1% and 0.2% in the first two quarters. Growth forecasts for the EU countries in which Bechtle operates show little variation, with third-quarter growth ranging from 0.0% in Germany and Italy to 0.5% in Spain. In the fourth quarter, all EU countries in which Bechtle operates are forecast to grow, with rates ranging from 0.1% in Germany and Italy to 0.5% in Hungary, Portugal and Spain. GDP growth across the EU is projected at 1.1% in 2026, and is expected to strengthen to 1.4% in 2027.

In Germany, growth is expected to remain subdued in the second half of the year, at 0.0% in the third quarter and 0.1% in the fourth. For 2026 as a whole, GDP growth is forecast at 0.6%, rising to 0.9% in 2027.

Industry

Despite the challenging economic environment, growth prospects for the German IT market remain positive overall. According to the latest figures published by industry association Bitkom in July 2026, the market is forecast to grow by 5.4%, down from the 5.9% projected at the beginning of the year. The software segment is expected to post the strongest growth at 9.9%, while IT services are forecast to grow by 3.1% and the hardware market by 3.3%. In France, industry association Numeum lowered its forecast from 4.3% to 3.0% in July.

Bechtle Group development

The economic and geopolitical environment remains as challenging as it was when we published our forecast in March 2026. However, we have so far successfully navigated the memory chip crisis and adapted well to the resulting industry-specific challenges. In particular, our record order backlog and broad-based demand across all segments and customer groups continue to give us confidence.

In light of the positive performance in the first half of the year, we have significantly raised our forecast for the 2026 fiscal year. Bechtle now expects business volume to grow by more than 10%, compared with the previous forecast of 5% to 10%. Revenue and earnings before tax (EBT) are now forecast to grow by 5% to 10%, up from the previous range of 0% to 5%. The EBT margin is still expected to decline slightly year on year.

Neckarsulm, 11 August 2026

Bechtle AG
The Executive Board

Dr Thomas Olemotz

Konstantin Ebert

Michael Guschlbauer

Christian Jehle