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Investing.com-- Shares in German IT firm Bechtle experienced an uptick following the release of its preliminary earnings for 2024, which met market expectations. This positive response is attributed to robust growth in the company’s software business.
In the final quarter of 2024, business volumes saw a growth of approximately 4%, with a particularly robust performance in the final month of the year.
However, the company reported a decline in revenue by about 5% and a decrease in earnings by around 6%. Bechtle noted that the decline in earnings was less steep than the declines witnessed in earlier quarters of the year. The EBT margin was reported at 5.6%, marginally lower than the 5.7% recorded the previous year.
In early European trade on Wednesday, Bechtle shares were trading 3.9% higher at 32.80 euros. Despite this recent uptick, the company’s shares have seen a decrease of 32% over the past 12 months.
Bechtle’s earnings before taxes for 2024 stood at approximately 345 million euros ($358.1 million), matching analyst expectations, according to a poll of estimates compiled by the company. This figure represents a margin of 5.5% and an 8% decrease compared with the previous year’s earnings.
The company’s business volumes increased by about 2% to nearly 8 billion euros, a rise driven in part by strong growth in the software business. However, Bechtle also reported a decline in revenue for the year by around 2%.
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