Innovation
Diebold Nixdorf Q1 earnings reveal strong start for 2024
May 2, 2024
The first quarter of 2024 is proving encouraging to Diebold Nixdorf as the banking and retail tech provider reported a 4.3% increase in total net sales — $895.4 million versus $858.1 million compared to a year ago.
The company's operating profit, $23.8 million, is a robust jump from a loss of $2.1 million in 2023.
Gross profit, though, dipped a bit, 0.3%, to hit $208.6 million compared to $209.3 million in the previous year, according to a press release on the earnings.
"We are off to a solid start in 2024. We reported strong results during the first quarter, showing good progress on our financial and operational priorities to expand gross margin and free cash flow. This resulted in another quarter of improved profitability and free cash flow conversion compared to the prior-year period," Octavio Marquez, Diebold Nixdorf president and CEO, said in the earnings release.
"I am proud of our team, as our continued focus on serving customers with our leading technology and services is clearly reflected in the strength of our first quarter performance."
During the quarter the company signed a deal valued at more than $20 million for its DN Series multifunction ATMs along with a five-year managed services agreement with a Western European bank.
"Our first quarter gives us confidence in our initial financial outlook for the remainder of the year. We continue to be strongly positioned for future success, and are focused on continuing our momentum into the second quarter and beyond," Marquez said in the release.
The company also signed an agreement valued at nearly $10 million with a major U.K.-based retailer to provide installation and maintenance services, in addition to self-checkout and kiosk technology.
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Diebold Nixdorf
As a global technology leader and innovative services provider, Diebold Nixdorf delivers the solutions that enable financial institutions to improve efficiencies, protect assets and better serve consumers.
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