Bechtle AG Bechtle accelerates growth in Q2 and upgrades its 2026 forecast

Bechtle accelerates growth in Q2 and upgrades its 2026 forecast

• Business volume up 18.1%
• EBT increases by 20.1%
• Order backlog reaches record €3.5 billion
• Full-year forecast raised

Neckarsulm, 12 August 2026 – Bechtle AG reported a very strong second quarter in 2026, with consistently double-digit growth once again demonstrating the resilience of its business model. The European IT service provider’s business volume rose by 18.1% to €2.3 billion, driven by growth across all regional segments and customer groups. Revenue increased by 16.5% to €1.7 billion, while earnings before tax (EBT) grew by 20.1% to €80.2 million. The EBT margin based on business volume remained stable at 3.5%. The order backlog increased further from the first quarter, reaching a new record high of €3.5 billion at the end of the reporting period. Given this very strong performance, Bechtle AG’s Executive Board has significantly upgraded its forecast for the 2026 fiscal year.

Germany, France and Benelux each delivered business volume growth of more than 10% entirely on an organic basis. In the Other Europe segment, acquisitions in Spain, Italy and Portugal contributed positively to growth. Even on an organic basis, however, the segment led the group with growth of more than 20%. Across the Bechtle Group, business volume grew organically by 12.9% and revenue by 10.3%, with growth once again broadly driven by both business and public-sector customers. “The second quarter is compelling evidence of how successfully we are navigating the challenging conditions surrounding the memory crisis and the wider economic environment. Our close customer relationships and deep understanding of their needs, strong ties with all key technology partners and extensive European presence are proving invaluable,” says Dr Thomas Olemotz, CEO of Bechtle AG.

Earnings increase by more than 20%

Earnings before tax rose by 20.1% to €80.2 million in the second quarter. The EBT margin based on business volume remained unchanged at 3.5%, while based on revenue it edged up to 4.6%, also reflecting our successful cost management.

Cash flow reflects operating performance

Strong growth, particularly towards the end of the quarter, had a significant impact on operating cash flow, which amounted to -€101.7 million in the first half of 2026 compared with €24.2 million in the prior-year period. The decline largely reflects a temporary increase in working capital as of the reporting date due to a build-up of inventory backed by customer orders. By contrast, days sales outstanding (DSO) fell further in the second quarter, while working capital as a percentage of annualised business volume improved from 7.3% to 6.8% year on year. Bechtle continues to expect operating cash flow to remain firmly positive for the full year.

Headcount rises due to acquisitions

As of 30 June 2026, the Bechtle Group employed 16,418 people. an increase of 810, or 5.2%, entirely attributable to acquisitions and largely concentrated in the Other Europe segment. On an organic basis, headcount across the group declined by 1.4%, and was also down slightly on the previous quarter, by 78 employees. Bechtle nevertheless remains committed to investing in education and professional development. As at 30 June, 672 young people were enrolled in vocational training or dual-study programmes.

Forecast raised significantly

At the end of the first half of 2026, Bechtle was ahead of the forecast published in March across all key performance indicators. The particularly strong second-quarter results confirmed Bechtle’s ability to deliver profitable growth even in a challenging environment, while the record order backlog provides greater visibility for the second half of the year. As previously announced, Bechtle AG’s Executive Board has therefore significantly upgraded its full-year forecast. Bechtle now expects business volume to grow by more than 10%, up from the previous range of 5% – 10%, while the forecast for revenue and EBT growth has been increased from 0% – 5% to 5% – 10%. “Our excellent performance during the first six months and record order backlog give us every confidence that we can maintain this momentum for the remainder of the year. Business and public-sector customers value the comprehensive support Bechtle provides, particularly in challenging times, and demand for future-ready IT solutions remains as strong as ever,” says Christian Jehle, CFO of Bechtle AG.

Bechtle key data – Q2 2026 and H1 2026

		Q2/2026	Q2/2025	+/−	H1/2026	H1/2025	+/−
Business volume	€k	2,274,149	1,925,471	+18.1%	4,501,326	3,892,604	+15.6%
Germany	€k	1,215,905	1,101,259	+10.4%	2,386,813	2,176,211	+9.7%
France	€k	208,033	187,952	+10.7%	421,573	381,831	+10.4%
Benelux	€k	317,472	283,361	+12.0%	701,971	627,266	+11.9%
Other Europe	€k	532,739	352,899	+51.0%	990,969	707,296	+40.1%
Revenue	€k	1,732,198	1,487,178	+16.5%	3,303,889	2,948,214	+12.1%
EBIT	€k	84,055	68,365	+23.0%	149,234	125,522	+18.9%
EBIT margin (% of business volume)	%	3.7	3.6		3.3	3.2
EBIT margin (% of revenue)	%	4.9	4.6		4.5	4.3
EBT	€k	80,201	66,778	+20.1%	141,836	122,078	+16.2%
EBT margin (% of business volume)	%	3.5	3.5		3.2	3.1
EBT margin (% of revenue)	%	4.6	4.5		4.3	4.1
Earnings after tax attributable to shareholders of Bechtle AG	€k	57,797	47,661	+21.3%	102,837	86,531	+18.8%
Basic earnings per share	€	0.46	0.38	+21.1%	0.38	0.82	-53.7%
Operating cash flow	€k	-112,455	45,216		-101,736	24,209
Employees (as at 31/06)		16,418	15,608	+5.2%

 

		30/06/2026	31/12/2025	+/−
Liquidity1	€k	537,481	452,031	-18.9%
Equity ratio	%	42.3	44.9

¹ Including time deposits and securities

The interim report for the first half-year 2026 is available at H1 2026. A PDF version of the report is also available for download here. The presentation can be found here.

About Bechtle

Bechtle is one of Europe’s leading IT service providers. We create future-ready IT architectures encompassing on-prem and multi-cloud infrastructures, digital transformation and modern workplace solutions, robust security, artificial intelligence and a full range of managed services. At the same time, we strengthen our customers’ digital sovereignty by embedding technological self-determination, transparency and resilience across our solutions. Our customers also benefit from our smart financing solutions and circular IT offering, helping them achieve their ESG goals. Through our subsidiaries, we are recognised as a leading specialist in enterprise applications, particularly PLM and ERP solutions. Operating from 120 locations across 14 European countries, we combine personal, local service with a digital offering as part of our global multichannel strategy. With over 16,000 employees, we are always close to our B2G and B2B customers, from SMEs to large international organisations. Bechtle is listed on the MDAX and TecDAX indexes. In 2025, the company generated a revenue of €6.41 bn. Read more at: bechtle.com.

Contact

Investor Relations	Corporate Communications & Brand Management
Martin Link	Sabine Brand
martin.link@bechtle.com	sabine.brand@bechtle.com
Phone: +49 7132 981-4149	Phone: +49 7132 981-4115