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Wincor Q1 2015-2016 sales results exceed expectations

With Q1 sales up 'substantially' as the result of restructuring, the company has raised its earnings outlook for the remainder of its 2015-2016 fiscal year.

February 4, 2016

In late January, Wincor Nixdorf AG announced sales results from the first quarter of its 2015-2016 fiscal year. And the results were good news both for Wincor Nixdorf and for Diebold Inc., which is in the process of acquiring its German competitor.

Year-over-year net sales at Wincor rose 14 percent; operating profit before restructuring expenses increased 78 percent. After restructuring expenses, EBITA was up 46 percent, the company said in a press release.

In absolute terms, net sales generated by the group totaled 727 million euros ($814 million) compared with 640 million euros ($717 million).

Operating profit reached 66 million euros ($74 million) before restructuring expenses and 54 million euros ($60 million) after these expenses compared with 37 million euros ($41 million) the previous year.

Profit for the period after restructuring expenses rose 48 percent to 37 million euros ($41 million) compared with 25 million euros ($28 million).

"Our transformation program is progressing better than originally planned," said Wincor Nixdorf CEO and President Eckard Heidloff.

The company has upgraded its earnings guidance for the fiscal year, with operating profit before restructuring expenses expected to lie within a range of 160 to 190 million euros ($179 million to $213 million) compared with previous guidance of 150 million euros ($168 million).

In the first quarter, net sales attributable to the banking segment rose 4 percent to 436 million euros ($488 million) compared with 421 million euros ($471 million) in Q1 of the previous year.

Net sales generated in the retail segment grew by 33 percent in the quarter to 291 million euros ($326 million) compared with the previous year's 219 million euros ($245 million).

The company grew across all of its geographic markets with net sales rebounding 12 percent in Germany, and 11 percent in the remainder of Europe.

Asia/Pacific/Africa net sales increased 14 percent. Expressed in U.S. dollars, net sales in the Americas grew 19 percent.

Net sales for hardware increased 20 percent, while software and services sales increased 9 percent. Hardware represented 46 percent of all sales with software and sales at 54 percent.

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Diebold Nixdorf

As a global technology leader and innovative services provider, Diebold Nixdorf delivers the solutions that enable financial institutions to improve efficiencies, protect assets and better serve consumers.

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