News

Wincor raises forecast following strong nine months

July 26, 2004

PADERBORN, Germany - Wincor Nixdorf AG (ISIN: DE000A0CAYB2) is raising its forecast for growth to the end of its fiscal year (Sept. 30, 2004) to 8 percent for net sales and 10 percent for operating profit (EBITA).

In the first three quarters of fiscal 2003/04, the company says it lifted its net sales by 9.2 percent and operating profit (EBITA) by 9.3 percent. According to the company, the growth is the result of further internationalization of its business and was driven by growth in both the banking and retail segments.

Sales During the first nine months of fiscal 2003/04, net sales increased 9.2 percent to € 1.1 billion (U.S. $1.3 billion), up from Â€ 1 billion in the same period of 2002/03. Adjusting for exchange rate effects in the relationship between the euro and the U.S. dollar, net sales improved 12.9 percent. The company's net sales grew by 13.3 percent in the third quarter, to € 394.1 million (U.S. $478.4 million), up from Â€ 347.7 million (U.S. $422 million) a year earlier.

Profit Operating profit (EBITA) was up 9.3 percent at € 80.9 million (U.S. $98 million) over the nine months, up from € 74 million (U.S. $89.8 million), leaving the EBITA return constant at 7.2 percent of net sales. There was a rise in net profit for the period during the first nine months, which finished at € 30.4 million (U.S. $36.9 million), up from € 10.4 million (U.S. $12.6 million) a year earlier.

America the strongest growing region In the Europe region (excluding Germany), net sales in the first nine months of the fiscal year grew 15.9 percent to € 542 million (U.S. $658 million), up from  Â€ 467.7 million (U.S. $567.8 million) a year earlier. In Germany, subdued levels of business with banks and good levels of business with retailers meant that net sales finished the first nine months slightly below last year's level, at € 380.5 million (U.S. $462 million).

Net sales in the America region grew in U.S. dollar terms by 55.9 percent. After conversion to euros, net sales rose 38.2 percent to € 83.9 million (U.S. $101.9 million) in the first nine months of the year, up from  € 60.7 million (U.S. $73.7 million) a year earlier.

In the Asia-Pacific & Africa region, Wincor Nixdorf grew its net sales in U.S. dollar terms by 13.3 percent. Expressed in euros, net sales finished at € 121 million (U.S. $146.9 million), the same level as last year.

Double-digit growth in retail Business performance in the Banking segment during the first nine months of the year produced net sales 8.6 percent higher at € 664.2 million (U.S. $806.7 million). The retail segment reported a 10 percent rise in net sales to € 463.3 million (U.S. $562.7 million).

During the first nine months of the year, net sales in the Product business - including sales of ATMs and point-of-sale systems -  increased by 9.2 percent to € 684.9 million (U.S. $831.8 million). The Solutions & Services business was up 9 percent at € 442.6 million (U.S. $537.5 million) and continued to enjoy good levels of growth in software.

Wincor Nixdorf AG said that 13 percent of the 9.2 million shares distributed in its May 19 IPO went to private investors. During the stabilization phase, some 300,000 of the 1.2 million greenshoe shares were bought back by the former shareholders. The stock is listed on the Frankfort Stock Exchange (Prime Standard).