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Wincor Nixdorf announces low net sales and profit for first quarter |
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German retail software maker Wincor Nixdorf AG closed its first quarter of the current fiscal 2009-10 with net sales and operating profit (EBITA) down 6% and 13% respectively on the same period in the preceding fiscal 2008/2009. Net sales for the Group, which specializes in IT solutions for the branch operations of banks and retailers, dropped in the first three months to €607 million against the previous year numbers of €646 million for the corresponding period. EBITA was also lower at €49 million as compared to €56 million during the same period in the previous year. The EBITA margin fell to 8.1% from 8.7% during the same quarter the previous year, while profit for the period declined 6% to €33 million from €35 million. Looking ahead at the rest of the fiscal year, President & CEO Eckard Heidloff pointed to the continued impact of the economic and financial crisis. “In the short term at least we expect the worldwide environment to remain challenging. Developments in the market and in our business are still difficult to predict,” he said. Against this background, Heidloff said he sees the probability of fluctuations in business performance during the year and within regions. For fiscal 2009-10, Wincor Nixdorf said it anticipates a further decline in its net sales and operating profit, albeit no greater than that experienced in the last fiscal year (2008/2009: net sales – 3%, EBITA – 13%). Heidloff also noted that at present it was difficult to try and identify any consistent trends in the IT solutions business for retail banks and retailers. Although capital expenditure on new systems to replace older IT infrastructure is being put back, he said companies are nevertheless investing in streamlining measures and process optimization. Regardless of economic developments in specific countries, Heidloff says the individual financial strength and strategy of each company is now playing an increasingly important role. “We anticipate that the fundamental trends within our field of business will remain unchanged. However, at the moment it is not possible to predict when this will be translated into renewed growth.” The company said net sales were down in both segments - net sales in the Banking segment ended the first quarter lower by 8% at €419 million compared with €456 million for the same quarter in the previous year. For the Retail segment, net sales showed a small year-on-year decrease of 1% to €188 million from €190 million. Net sales attributable to the Hardware business fell 13% to €326 million in the first quarter of the current fiscal year compared with €373 million for the same quarter in the previous year. By contrast, net sales from Software/Services showed a 3% rise to €281 million from €273 million in the same quarter in the previous year. As a result, the share of total Group net sales attributable to the Hardware business stood at 54%, down from 58% a year ago, while the share achieved by Software/Services climbed to 46% from 42% a year ago. |
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