Software

Diebold Nixdorf boasts healthy first quarter financials

May 6, 2020

Diebold Nixdorf, a leader in end-to-end software and technology solutions, reported strong financial profitability and cash flow improvements for the first quarter of 2020, according to a press release.

Despite having to manage the impact of the COVID-19 pandemic for both the business and its staff, the company maintained adequate assets and is now targeting a break-even cash flow for the entire year.

Additionally, the company reported its GAAP operating loss was $26 million, which was a 6.1% increase over last year, but non-GAAP operating profits were $63 million, a 132.4% increase from the prior year. That increase was attributed to effective execution of the company’s DN Now initiatives that included enhancing customer relationships, increasing working capital and reducing costs.

"From the earliest stages of the COVID-19 crisis, our primary focus has been protecting the health and well-being of our employees while delivering value to our customers, a majority of whom are in essential industries," said  Gerrard Schmid, Diebold Nixdorf’s president and CEO, in the release. "Our performance during the pandemic has fortified our status as a trusted technology partner with resilient operations. For the quarter, we were pleased with our financial performance as we delivered stronger-than-expected orders, revenue in line with our expectations and continued year-over-year improvements in profitability and cash flow."