Hardware

Diebold Nixdorf boosts Q1 2021 sales, earnings

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May 11, 2021

Diebold Nixdorf Inc.'s net sales rose 3.6% from $910.7 million in Q1 2020 to $943.9 million for the quarter ending March 31, 2021 on both a GAAP and non-GAAP basis, primarily due to product revenue growth in retail and Eurasia banking, as well as software growth, according to an earnings release.

Net income rose from a $26.9 million loss to a $23.3 million gain in the comparative quarters on a non-GAAP basis, and from a $93.4 million loss to an $8.1 million loss on a GAAP basis.

Diluted earnings per share rose from a 34-cent loss to a 29 cents on a non-GAAP basis and from a $1.20 loss to a 10-cent loss on a GAAP basis.

The $943.9 million in revenue beat analyst expectations by $2.83 million, while the non-GAAP EPS of 29 cents beat expectations by 9 cents and the GAAP EPS 10-cent loss missed expectations by 13 cents, according to Seeking Alpha.

Shares traded at $12.74 Monday against a 52-week range of $4.05-$17.30.

Q1 2021 highlights include:

• The company signed a multi-year agreement with French retail group Les Mousquetaires to transform the checkout experience at nearly 2,000 stores in France with next-generation products, services and software.
• In the U.S., the company received orders for 3,000 Beetle EPOS units from a grocer and an initial order to deploy DN Series Easy SCO at a convenience store retailer operating in airports and other tourist destinations.
• For the ATM business, the company secured an initial order for more than 400 cash recyclers from a bank in the U.S.
• In Latin America, the company received orders from Mexico, Colombia, Peru and Honduras, including an agreement with Banco Nacional de Mexico to deliver approximately 1,200 DN Series ATMs equipped with DN Vynamic software licenses and two years of maintenance services.
• In Eurasia, the company booked ATM orders with customers in Germany, Spain, South Africa, Egypt and Hong Kong, including a new customer in Vietnam.
• For managed services, the company won a five-year contract to be the sole-source supplier at a bank in the United Kingdom for maintenance, monitoring and help desk services for more than 4,000 self-service terminals.
• The company also extended a multi-year contract with a bank in India for 1,200 ATMs and increased the scope to include 300 new DN Series ATMs and the DN AllConnect DataEngine.
• The company also agreed to a three-year self-service support contract extension with HSBC in Hong Kong covering more than 3,500 terminals.

"We were pleased with our strengthening top-line performance as we delivered value to customers across both banking and retail segments," Gerrard Schmid, Diebold Nixdorf president and chief executive officer, said in the press release. "In our retail business, we continue to see strong momentum for our self-checkout solutions; while in banking, customer demand for next-generation DN Series ATMs and the DN AllConnect Data Engine is accelerating."

For the full-year outlook, the company expects revenue between $4 billion and $4.1 billion.