Germany: Wincor Nixdorf Still Waiting For Recovery in Market
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Tuesday, 26 January 2010 |
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Wincor Nixdorf AG closed its first quarter of the current fiscal
2009/2010 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, fell in the first three
months to €607 million (previous year: €646 million). EBITA was also
lower at €49 million (€56 million). The EBITA margin fell accordingly
to 8.1% (8.7%), while profit for the period declined 6% to €33 million
(€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 explained.
Against this background he sees the probability of fluctuations in
business performance during the year and within regions. For fiscal
2009/2010 as a whole, Wincor Nixdorf 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%).
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