Investor Relations

In the capital market, Bechtle enjoys a very good reputation. Especially in times of falling prices and uncertainty in the financial markets, Bechtle stands for reliable and continuous communication with the financial community.

Analyst recommendations serve as central instruments that form the opinions of shareholders and investors. In 2008, a total of nine banks regularly reported about Bechtle in detailed studies and topical brief analyses. In the reporting period, Deutsche Bank, Commerzbank, and the analyst company SES Research included Bechtle in their coverage. Before that, Bechtle was already on the monitoring lists of Berenberg Bank, DZ Bank, Landesbank Baden-Württemberg, Merrill Lynch investment bank, Metzler bank, and WestLB. Bechtle’s regular constructive dialogue with all analysts was enhanced by analyst visits to the headquarters, various conferences, and joint road shows. In the past fiscal year, most of the ratings were “buy” or “hold”.

The relationship with existing and potential investors was very intensive in the reporting period. In individual discussions, round tables, road shows, and conferences, Bechtle informed institutional investors about the company’s economic situation, business strategy, and future outlook. In the past year, the Executive Board also engaged in individual discussions with prospective investors at the group headquarters in Neckarsulm, Germany.

Best annual report in the TecDAX

In the reporting period, the award bestowed on the annual report of Bechtle AG was a pleasant success of the communication with the financial market. The annual report is a key element of financial reporting, even in an age of growing relevance of electronic media. Bechtle endeavours to improve the annual report continuously in order to provide interested readers with comprehensive and transparent information about the company at all times. In the current ranking of arguably Germany’s most prestigious business report competition, “manager magazin” elected the report of Bechtle AG for the fiscal year 2007 the winner among TecDAX-listed companies. Thus, the company made it from the eighth place in the prior year to the very top of its class. In addition to the actual content of the report, the jury was impressed by the report’s layout and linguistic style.

From the shareholder viewpoint, the eighth ordinary Annual General Meeting of Bechtle AG on 17 June 2008 in Heilbronn, Germany, was a key event. Some 500 shareholders represented 70.6 per cent of the voting capital. The most important item on the agenda was the election of he new Supervisory Board. Moreover, the Executive Board provided information about the figures of the fiscal year 2007 and presented an outlook for 2008. The Annual General Meeting adopted all proposals of the Executive Board and the Supervisory Board with a vast majority.

In August and September 2008, the Bechtle AG shareholders’ days were held for the fourth time. Over a period of three days, some 100 shareholders visited the company at its headquarters in Neckarsulm and availed themselves of the opportunity to engage in intensive discussions with representatives of the company. Apart from offering presentations and tours, Bechtle AG uses this event to provide its shareholders with a more profound insight into the company, thereby enhancing the relationship with its shareholders.

The Internet presence of Bechtle AG (www.bechtle.com) is an important platform for the communication with shareholders and guarantees the flow of information to the capital market. On clearly structured pages, visitors are provided with price and index charts, ad-hoc notifications and press releases, financial publications, announcements concerning corporate governance and directors’ dealings, and important company presentations. Research on Bechtle AG is presented in summarised form. Every Monday, a weekly report reflects the price development of the past week and summarises the most important press and analyst opinions. All documents related to the Annual General Meeting and important information in connection with this event can also be found on these pages. Moreover, the Web site features an online business report and KPI overviews.