Revenue
Revenue of €3,303,889 thousand (previous year: €2,948,214 thousand) comprises amounts charged to customers for goods and services, net of rebates and discounts.
The following table shows the breakdown of revenue by IT trading and IT services:
|
|
01/01 – 30/06/2026 |
|
01/01 – 30/06/2025 |
||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
Germany |
|
France |
|
Benelux |
|
Other Europe |
|
Group |
|
Germany |
|
France |
|
Benelux |
|
Other Europe |
|
Group |
IT trading revenue |
|
1,283,242 |
|
310,285 |
|
311,091 |
|
577,866 |
|
2,482,484 |
|
1,216,586 |
|
290,606 |
|
276,473 |
|
439,091 |
|
2,222,756 |
IT service revenue |
|
550,680 |
|
16,473 |
|
93,351 |
|
160,901 |
|
821,405 |
|
519,654 |
|
20,825 |
|
82,501 |
|
102,478 |
|
725,458 |
Total revenue |
|
1,833,922 |
|
326,758 |
|
404,442 |
|
738,767 |
|
3,303,889 |
|
1,736,240 |
|
311,431 |
|
358,974 |
|
541,569 |
|
2,948,214 |
Most revenue comes from trading transactions, which typically have short order-to-delivery times. By contrast, service projects usually last from several weeks to a year, while framework and operating agreements for managed services are generally concluded for terms of several years. Managed services account for approximately one-third of the order backlog.
Bechtle operates exclusively in the B2B and B2G markets, serving commercial and public-sector organisations as end customers. The product groups generating the highest revenue in the first half of the year were mobile computing, IT services, peripherals and network components, which together accounted for approximately 57% of total revenue (previous year: 62%).
The following table shows the breakdown of revenue by customer segment:
|
|
01/01 – 30/06/2026 |
|
01/01 – 30/06/2025 |
||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
Germany |
|
France |
|
Benelux |
|
Other Europe |
|
Group |
|
Germany |
|
France |
|
Benelux |
|
Other Europe |
|
Group |
Public-sector customers |
|
751,908 |
|
75,808 |
|
288,772 |
|
237,883 |
|
1,354,371 |
|
641,130 |
|
49,632 |
|
258,485 |
|
152,091 |
|
1,101,338 |
Commercial end customers |
|
1,082,014 |
|
250,950 |
|
115,670 |
|
500,884 |
|
1,949,518 |
|
1,095,110 |
|
261,799 |
|
100,489 |
|
389,478 |
|
1,846,876 |
Total revenue |
|
1,833,922 |
|
326,758 |
|
404,442 |
|
738,767 |
|
3,303,889 |
|
1,736,240 |
|
311,431 |
|
358,974 |
|
541,569 |
|
2,948,214 |
Further information on the business segments under the new regional structure can be found in Section IX. Segment Information.
Expense structure
|
|
Cost of sales |
|
Distribution costs |
|
Administrative expenses |
||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
01/01 – |
|
01/01 – |
|
01/01 – |
|
01/01 – |
|
01/01 – |
|
01/01 – |
Material costs |
|
2,305,593 |
|
2,039,769 |
|
0 |
|
0 |
|
0 |
|
0 |
Personnel costs |
|
310,100 |
|
300,009 |
|
199,529 |
|
180,005 |
|
153,164 |
|
133,559 |
Depreciation and amortisation |
|
39,444 |
|
35,125 |
|
19,769 |
|
18,908 |
|
25,725 |
|
22,831 |
Other operating expenses |
|
34,339 |
|
30,492 |
|
33,748 |
|
31,007 |
|
57,234 |
|
52,357 |
Total expenses |
|
2,689,476 |
|
2,405,395 |
|
253,046 |
|
229,920 |
|
236,123 |
|
208,747 |
The increase in material costs compared with the prior-year period is primarily attributable to higher revenue. Personnel and social expenses increased as a result of the higher headcount. Other operating expenses exceeded the prior-year level, primarily due to higher software licence costs, while depreciation and amortisation increased mainly as a result of the acquisition-related recognition of new customer relationships.
Other operating income
The majority of other operating income relates to marketing allowances and other compensation from suppliers. These amounted to €18,714 thousand in the first half of 2026 (previous year: €16,180 thousand).
Financial income and financial expenses
Financial income includes income from demand deposits and financial receivables.
Financial expenses primarily comprise interest expense on loans and lease liabilities.
Earnings per share
The following table shows the calculation of earnings after tax attributable to the shareholders of Bechtle AG per share:
|
|
|
01/01 – 30/06/2026 |
|
01/01 – 30/06/2025 |
|---|---|---|---|---|---|
Earnings after tax |
€k |
|
102,238 |
|
85,782 |
of which non-controlling interests |
€k |
|
−599 |
|
−749 |
of which shareholders of Bechtle AG |
€k |
|
102,837 |
|
86,531 |
Weighted average number of shares outstanding |
shares |
|
126,000,000 |
|
126,000,000 |
Earnings per share |
€ |
|
0.82 |
|
0.69 |
In accordance with IAS 33, earnings per share are calculated based on earnings after tax attributable to shareholders of Bechtle AG and the weighted average number of shares outstanding during the period. Treasury shares would reduce the number of outstanding shares accordingly.
The convertible bond issued in 2023 has not yet had any impact on earnings per share, as the conversion price exceeded the average price of Bechtle AG shares during the reporting period. Accordingly, diluted earnings per share were equal to basic earnings per share.
Other comprehensive income
Other comprehensive income was primarily influenced by movements in the EUR/CHF exchange rate. As in the previous year, the Swiss franc appreciated slightly against the euro in the first half of 2026.
The detailed composition of other comprehensive income recognised directly in equity, including changes during the period and the cumulative balance, is presented in Section V. Notes to the Balance Sheet and to the Statement of Changes in Equity, Equity, Retained earnings.