News
Wincor Nixdorf sees net drop 6%
April 28, 2010
Wincor Nixdorf AG reports a decline in net sales for the first half of fiscal year 2009/2010.
When compared with the same period a year ago, net income dropped 6 percent, from €64 million (U.S. 84.5 million) to €60 million (U.S. $79.2 million).
"We have yet to see a sustained recovery in demand, and thus our forecast for the current fiscal year remains unchanged," said Wincor Nixdorf president and CEO Eckard Heidloff.
Heidloff in a news release said the company expects the market environment to remain challenging, but added that he is confident the company has positioned itself favorably for the medium term. "Economic growth in the emerging markets, severe competition for customers and pressure to improve cost efficiency continue to be the principal trends that will drive investment within the retail and retail banking industries in the medium term — trends that we will pursue," he said.
Net sales in the banking segment were down 9 percent, from €866 million (U.S. 1.14 billion) to €791 million (U.S. $1.05 billion). Net sales generated in the retail segment edged up slightly, 1 percent, totaling €370 million (U.S. $488.4 million) from €368 million (U.S. $485.9 million) last year.
Net sales in Europe (excluding Germany) were down 19 percent, while net sales in Asia-Pacific and Africa were down 16 percent. In the Americas, net sales were up 14 percent.
Software and services continued to grow, while hardware sales struggled. Software and services net sales were up 6 percent, while hardware net sales fell 14 percent.
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