Bank / Credit Union
Diebold Nixdorf sees Q2 sales boost while supply chain affects profits
July 30, 2021
Diebold Nixdorf reported a gain of 6% in sales in its second quarter earnings report. At the same time, the company also reported a loss in operating profit, according to a press release.
Diebold reported $943.5 million in net sales, compared to $890.5 million from last year, for a 6% growth. It also had a gross GAAP profit of $251.9 million and non-GAAP of $261.8 million compared to $247.6 million and $264.0 million last year respectively.
At the same time, the company had a GAAP operating profit of 12.9 million and a non-GAAP of $63.1 million compared to $20.5 million and $98.2 million last year.
Gerrad Schmid, CEO and president of Diebold, attributed this to "longer procurement and transport lead times due to developing global supply chain complexities."
"Looking to the second half of the year, we expect solid demand for our solutions and are reiterating our full-year revenue forecast of 3% to 5% growth. At the same time, higher-than-expected inflation for components and logistics lead us to adjust our 2021 outlook for profit and free cash flow," Schmid said in the release. "We will continue to work closely with our suppliers to manage global supply chain volatility, execute our cost reduction initiatives and leverage the operating rigor we have developed during our DN Now transformation. We remain committed to delivering strong free cash flow growth as we conclude our DN Now restructuring payments."
Other data points include:
- GAAP operating margin was 1.4%, and non-GAAP was 6.7%.
- Adjusted EBITDA was $86.3 million.
- The current outlook for revenue for the year is $4 billion.
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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.
