News

Wincor Nixdorf reports FY11 nine-month results; forecast aligned with expectations

July 27, 2011

Wincor Nixdorf AG recorded a 4 percent increase in net sales and a 2 percent fall in operating profit (EBITA) for the first nine months of fiscal 2010-2011.

The consolidated net sales of the IT company, which specializes in solutions designed for the branch and store operations of banks and retailers, increased in the reporting period to €1,744 million over the previous year's €1,682 million.

At €119 million, EBITA was slightly down on last year’s figure (€121 million), while net profit for the period was 4 percent lower at €77 million.

“Both net sales and operating profit are in line with our expectations,” said Eckard Heidloff, president and CEO. “We thus confirm our forecast for the year as a whole.”

Wincor Nixdorf anticipates a rise in net sales of 4 percent for the current 2010-2011 fiscal year, while operating profit (EBITA) for the annual period is expected to match or slightly exceed the level of the previous year.

Wincor Nixdorf’s ongoing business in the Americas has not been able to match the performance achieved last year through buoyant deliveries of systems for automated cash and check processing. In addition, CINEO, a new hardware system generation developed for banks and retailers, is still in the process of being introduced to the global market.

In U.S. dollars, the Americas recorded a 22 percent decline in net sales in the first three quarters of the fiscal year. Expressed in euros, this corresponds to a fall of 24 percent to €174 million from €228 million last year. In the third quarter of the fiscal year, net sales for the region were down 19 percent at €52 million from €64 million.

In the first nine months of the fiscal year, net sales attributable to the hardware business grew by 2 percent year on year to €877 million from €856 million. Net sales from software and services increased by 5 percent to €867 million from €826 million.

The share of total net sales attributable to the hardware business was slightly lower at 50 percent in the period under review from 51 percent. The proportion of total net sales from software and services rose to 50 percent from 49 percent.

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