News
Wincor Nixdorf reports record sales year for ATM, banking solutions
November 4, 2008
PADERBORN, Germany — Wincor Nixdorf AG says the 2007/2008 fiscal year was a financially record-setting year, despite the economic challenges affecting companies throughout the world.
According to a news release, Wincor Nixdorf on Sept. 30 closed the year with an 8 percent increase in net sales, hitting the corporate forecast for the year.
Wincor Nixdorf reported annual net sales of €2.3 billion (U.S. $3 billion), up from €2.1 billion (U.S. $2.8 billion) in 2007/2008. Profit for the period was up 17 percent year over year.
"This growth line still applies to us in the medium term, even if our business performance may become bleaker in the short term, due to the global impact of the financial market crisis," said Wincor Nixdorf chief executive Eckard Heidloff today during a press conference in Düsseldorf, Germany. "Retail banking has proven to be the business segment in the banking arena that reacts with the least volatility to market circumstance. That will tend to stimulate its renaissance further."
Wincor Nixdorf has expanded business activities with retail banks and retailers over the last 12 months. Global expansion continued systematically, reducing dependence on individual customers or singular economies. The company says it was able to enlarge its solutions portfolio by adding innovations that enable banks and retail companies to achieve cost advantages and additional customer service in their business processes.
Wincor Nixdorf also expanded its activities in the areas of consulting, software integration, managed services and outsourcing in the year under review. Expertise in branch/store and self-service business is now expected to be applied to adjacent sectors to achieve additional growth potential.
"As far as we can see now, we assume that we will be able to follow up the very good previous year's performance and maintain approximately the same level of business," Heidloff said.
Despite a forecast that tends to be positive, management at Wincor Nixdorf agrees that it is not possible to tell definitively whether and when the financial market crisis can be contained or what impact it will have on the world economy. That applies to both established countries and newly industrializing countries. Depending on the intensity of the negative effects, short-term reductions in retail banks' and retailers' capital spending budgets cannot be excluded. Wincor Nixdorf is preparing to respond flexibly to the challenges that may arise.
"Our main priority is to make our cost structures more flexible in order to secure our margins," said chief financial officer Dr. Jürgen Wunram. "We are therefore taking suitable steps in production, sales and service to make Wincor Nixdorf 'weatherproof.'"
North AmericaBank SecurityRegulation / LegislationPublic CompaniesManufacturersBank / Credit UnionBranch TransformationSoftwareWincor Nixdorf International
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