Wincor Nixdorf ends Q1 with lower net sales and profit

Wincor Nixdorf AG closed the first quarter of the current fiscal year with net sales and operating profit down from first quarter last year.

The company announced today that FY 2009/2010 started with net sales and operating profit down six percent and 13 percent, respectively, from the same period in fiscal year 2008/2009. Net sales for Wincor Nixdorf, which specializes in IT solutions for the branch operations of banks and retailers, fell in the first three months to €607 million (previous year: €646 million). Operating profit also was lower at €49 million (€56 million). The EBITA margin fell accordingly to 8.1 percent (8.7 percent), while profit for the period declined 6 percent to €33 million (€35 million).

Looking ahead at the rest of the fiscal year, group president and CEO Eckard Heidloff pointed to the continued impact of the economic and financial crisis, and said he sees the probability of fluctuations in business performance during the year and within regions.

"In the short term at least we expect the worldwide environment to remain challenging. Developments in the market and in our business are still difficult to predict," he said.

For the current fiscal year as a whole, Wincor Nixdorf anticipates a further decline in its net sales and operating profit, albeit no greater than that experienced in the last fiscal year.

Heidloff also said that at present it is not possible to identify any consistent trends in the IT solutions business for retail banks and retailers.

Topics: Bank / Credit Union, Banking Executive Summary, Company Profiles

Companies: Wincor Nixdorf International

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