Bechtle AG Receives Buy Recommendation Amid Mixed Q3 Results

Bechtle AG, evaluated by Quirin Privatbank Kapitalmarktgeschäft, received a "Buy" recommendation as of November 21, 2025, despite mixed results in their Q3 performance. The company's revenue grew by 5.1% year-on-year, driven by strong international markets like Benelux, Spain, and the UK. However, the domestic market in Germany remained sluggish, with a decline in IT System House & Managed Services.

The EBT margin experienced a minor reduction from 5.2% to 5.1%, primarily due to higher depreciation on acquisitions, countered somewhat by effective cost management. Management emphasized the importance of a strong Q4 to meet EBT objectives, noting early positive trends in October. The company's guidance from March remains, predicting modest business growth and an EBT change of –5% to +5% year-on-year.