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Investing.com -- Bechtle AG (ETR:BC8) on Friday reported a strong third-quarter performance with encouraging momentum that positions the company for a potential year-end rally.
The IT service provider’s Q3 business volume increased by 8.4% to €2,049 million, primarily driven by its international segment which grew 17.0%. Group revenue rose 5.1% to €1,588 million, with particularly strong growth in Benelux, Spain, and the UK. Even markets facing challenging conditions such as France, Germany, and Switzerland showed positive developments in Q3, a trend that continued into October.
Earnings before tax (EBT) returned to profitable year-over-year growth for the first time this year, reaching €80.5 million, up 2.4% compared to the same period last year and 20.5% above Q2 results. This improvement demonstrates the operating leverage within the company’s platform when volume growth occurs.
Operating cash flow developed positively, reaching €149 million for the first nine months of 2025, compared to €141 million in the same period of 2024.
Management confirmed its full-year 2025 guidance, pointing to a clear trend reversal in the second half of the year. The company appears on track to reach the upper end of its guided sales growth of 3% year-over-year.
To achieve the low-end of its initial 2025 EBT guidance (-5% year-over-year or €328 million), Bechtle needs a strong fourth quarter with €125 million in EBT, representing 24% growth compared to Q4 2024. Management considers this achievable due to easier prior-year comparisons and strong October performance.
The positive outlook is further supported by an encouraging order trend since the 2025 German budget was signed off in late September, which may lead to a seasonal budget flush in Q4.
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