Bechtle AG Reports 19% Business Volume Growth, Raises Forecast

Bechtle AG delivered a strong third quarter, increasing its business volume by 19.0% to €2.4 billion and prompting another increase to its full-year forecast, demonstrating the company's resilience in a challenging market.

The IT service provider’s earnings before tax (EBT) rose by 13.9% to €91.7 million, with the EBT margin holding steady at 3.8% of business volume. This performance comes despite a challenging macroeconomic environment and indicates Bechtle’s ability to maintain profitability while scaling operations. A record order backlog of €3.6 billion provides visibility into continued growth. The company now forecasts EBT growth of more than 10% for the full year, up from a previous forecast of 5-10%.

Germany was the strongest-performing segment, with business volume up 20.8%, while the Benelux and Other Europe segments also saw double-digit growth. The company attributes its success to a resilient business model combining local presence with a broad European footprint and strong relationships with both technology partners and customers. This mirrors commentary from July, where Bechtle raised its initial forecast following strong Q2 results, suggesting a consistent upward trajectory in performance.

While operating cash flow remained negative at -€29.5 million due to increased working capital needs, it improved significantly from the second quarter (-€112.5 million). This indicates improved operational efficiency, even as the business scales. Bechtle's continued investment in its workforce, with 16,583 employees as of September 30, 2026, supports its growth ambitions. The maintained EBT margin, despite rising prices in some product groups, highlights effective cost management and productivity gains, positioning Bechtle for continued success in the coming months.