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Wincor Nixdorf says first-half growth better than expected
April 29, 2007
PADERBORN, Germany - Wincor Nixdorf AG announced that its growth for the first six months of fiscal year 2006/2007 was better than expected. Consolidated net sales rose by 15 percent, hitting €1.09 billion (U.S. $1.5 billion), up from €943 million (U.S. $1.3 billion) during the first half of FY 2005/2006. First-half profit grew by 36 percent, hitting€49 million (U.S. $66.7 million), up from €36 million (U.S. $49 million).
"The results show that we are well on track with the growth strategy chosen for the group and that we will continue to generate growth," said company president and chief executive Eckard Heidloff. "We are clearly benefiting from our prowess as an innovator and are continuing to perform well within the international arena."
The company says it is adjusting its financial-results forecast, as a result of first and second quarter earnings. Wincor Nixdorf now expects to see a 9 percent growth in net sales and a 15 percent increase in earnings before the deduction of interest, tax and amortization. The company's original forecast called for a 6 percent increase in net sales and an 8 percent growth in EBITA.
"Buoyed by favorable first-half results, we look set to exceed our original target for the full fiscal year," Heidloff said.
During the second quarter alone, consolidated net sales rose to €537 million (U.S. $730.7 million), up 18 percent from the previous year. The company attributes the 2Q growth to numerous large-scale banking rollouts and employee growth. At the close of the quarter, the company employed 8,116 people, up from the 7,787 it employed at the end of September.
Net sales in Europe (excluding Germany), Asia and the Americas were up 17 percent.
Contributing 54 percent to the second quarter's total net sales, those regions accounted for the largest proportion of net sales in the company.
In Germany, net sales grew by 13 percent year over year. In the Americas, net sales for the first half of the year increased 13 percent (25 percent in U.S. dollars). In Asia-Pacific, net sales were up 12 percent.
The company's banking segment realized a 23 percent increase in net sales during the first six months of the year, hitting €698 million (U.S. $950 million). During the second quarter alone, the segment's net sales were up 26 percent from the previous year.
The Retail segment recorded a 3 percent gain in net sales during the first six months, hitting €387 million (U.S. $527 million).
Latin AmericaOtherNorth AmericaBanking Executive SummaryPublic CompaniesAsia, Australia & PacificBank / Credit UnionWincor Nixdorf International
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