Wincor Nixdorf 1Q results shows increases in sales, net income

PADERBORN, Germany — Wincor Nixdorf has released its first-quarter 2009/2009 financial statements and they indicate an increase in both sales and net income　over the same period last year.

　

According to the financial records, 1Q net sales were €646 million (U.S. $848 million), up seven percent from the same period last year, when it was €602 million (U.S. $790 million.) At the same time, net profit for the period was €35 million (U.S. $46 million), up 11 percent from last year's 1Q results, which were at €32 million (U.S. $42 million.)

　

Basic and diluted earnings per share were both up this year over 1Q last year, with both indicators at €1.11 (U.S. $1.46) while last year, they were both at €0.98 (U.S. $1.23)　- an increase of 13 percent.

　

President and chief executive Eckard Heidloff emphasized that these figures should not be extrapolated to the year as a whole.

　

"The impact of the economic crisis will also be felt by Wincor Nixdorf," he said, adding that this outlook should be seen against the backdrops and risks governing future performance. "The opportunities presented to us come in the form of favorable sector-specific trends that continue to apply within the area of retail banking and retailing as well as in the form of large-scale project tenders. The risks currently emanate from an economic crisis that is difficult to assess and whose direction is impossible to predict."

　

Heidloff said he could not rule out the possibility of business development becoming less dynamic in the short term, if both the banking and the retail industries were to scale back capital expenditure in response to a serious deterioration in the state of the economy as a whole. He added that the company had taken appropriate action to address this eventuality by initiating measures aimed at bringing greater flexibility to its cost structures. At the same time, he expressed his cautious optimism for the medium-term future.

　

"The overriding industry trends such as intense competition and pressure to streamline operations remain unchanged both in retail banking and in the retail sector, as does the move towards internationalized activities and standardized IT infrastructures - developments to which we have already responded by establishing a strong position in the relevant areas," he said.