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Wincor Nixdorf on track for growth, despite lagging economy
April 23, 2008
PADERBORN, Germany — Having completed the first six months of fiscal year 2007/2008, Wincor Nixdorf AG says it remains on track to achieve its growth targets. Consolidated net sales were up 9 percent during the first half of the year from the first half last year. Net sales hit to €1,183 million (U.S. $1.9 million), up from €1,085 million (U.S. $1.7 million) in FY 2006/2007.
Revenue grew 13 percent year from year. And net income for the period totaled €61 million (U.S. $96 million), up 24 percent from the €49 million (U.S. $77 million) reported last year.
The weakness of the U.S. dollar is expected to have a "dampening" effect on the company's overall net sales, said president anc chief executive Eckard Heidloff. But the detrimental effects associated with the financial crisis have not yet touched Wincor Nixdorf's business.
"Our forecast remains unchanged at 8-percent growth in net sales and a 10-percent increase in operating profit," Heidloff said.
The company's solid performance within the international arena and business growth in the banking segment were cited as the principal growth drivers.
Europe stable, significant gains in Asia and Americas
In the first six months of the fiscal year, net sales in Europe (excluding Germany) rose 9 percent to €631 million, (U.S. $991 million.) European business accounts for 53 percent of the company's overall business, and thus is the greatest bottom-line contributor. (Europe accounted for 54 percent of Wincor Nixdorf's business last year.)
Net sales in Asia-Pacific and Africa were up 48 percent, up from €138 million, (U.S. $216 million) in '06/'07 to €182 million (U.S. $286 million). Asia-Pacific and Africa accounted for 15 percent of the company's total net sales, up from 13 percent of overall net sales last year.
In the Americas continued, net sales were up 46 percent. The Americas accounted for 9 percent of total net sales, up from a mere 7 percent last year.
Strong growth in banking
Net sales in banking were up 17 percent, while net sales on the retail side were down 6 percent from year to year.
ManufacturersBanking Executive SummaryRegulation / LegislationCentral and Eastern EuropeNorth AmericaPublic CompaniesBank / Credit UnionWincor Nixdorf International
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