A bit more than two years ago, the share of Bertrandt was above EUR 100 and its market cap above EUR 1bn. Investors liked Bertrandt’s annual growth of 10% and its high-single-digit EBIT margin. Today, Bertrandt’s market cap varies between EUR350-400m, and the financial performance continues to deteriorate.
Bertrandt: Soft Quarter in Q1 FY20
Bertrandt had a soft quarter in Q1 FY20 (corresponding to calendar Q4 2019): revenues were flat (+0.4%) to EUR 263m, impacted by project delays, and reduced utilization rates in its Digital Engineering (DE) unit (-3.0%). DE, Bertrandt’s largest unit (55% of revenues), suffered from Germany OEMs shifting their R&D spending to digital.
Accenture makes a further acquisition for Industry X.0, in Germany
Accenture continues to deploy its M&A strategy and has made its fifth acquisition for Industry X.0. The company acquired Zielpuls, an ER&D vendor servicing the German automotive industry. Zielpuls is an embedded systems specialist.
Bertrandt accelerate somewhat in Q1 FY19
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Spotlight on Luxoft’s ER&D services capabilities: Automotive
We have written two blogs about Luxoft’s ERD services capabilities, with this one focusing on automotive engineering.
Volkswagen and Ford to work together on commercial vehicles
As expected, Volkswagen and Ford have provided some detail on their long-awaited partnership. Ford will design and build mid-sized pickups for Volkswagen, with the first vehicles ready in 2022. It will also build large commercial vans, while Volkswagen will develop a city van. In addition, the two firms intend to work together on mobility services, EVs and autonomous vehicles.
QuEST: Growth Ambitions in Germany
QuESTGlobal Services has big ambitions in Germany, where it intends to double its headcount in the
HCL Tech Makes an Acquisition in the German Automotive Industry
The star of ER&D services, HCL Tech, has acquired Hönigsberg & Düvel Datentechnik GmbH (H&D), a
Bertrandt Underperforms the Market in Q1.
Bertrandt’s revenues in Q2 FY18 (corresponding to Q1 2018) were EUR 252m, up slightly by 0.2%.