PADERBORN (dpa-AFX) - Wincor Nixdorf AG (WNXDF.PK) said that it will not meet its guidance for net sales and EBITA issued for the 2014/2015 fiscal year.
After six months of the current fiscal year, the company's net sales were 2% short of the comparative prior-year figure, while EBITA was down 31% on the figure for the same period a year ago.
The year-on-year decline was attributable primarily to a contraction by 12% in net sales from Hardware business. Growth generated by Software and IT Services was not sufficiently strong to offset the aforementioned decline.
A restructuring program is being initiated for the purpose of counteracting developments seen within the Hardware sector. This program will be aimed at driving forward expansion in the field of Software and IT Services.
Capacity adjustments within the Hardware sector as well as cost streamlining are elements within the restructuring program. This program will serve to accelerate the ongoing transformation of the company.
Supported by Software and IT Services, Wincor Nixdorf is looking to further expand its role in the highly dynamic trend towards digitization within the retail banking and retail business.
Based on preliminary figures, Wincor Nixdorf recorded net sales of 1.208 billion euros in the first half of 2014/2015 fiscal year, compared to 1.230 billion euros in the prior year. EBITA stood at 47 million euros, compared to 68 million euros in the previous year.
Wincor Nixdorf had originally anticipated moderate year-on-year growth in net sales for the current fiscal year 2014/2015, compared to 2.469 billion euros in the fiscal year 2013/2014.
Revenue growth was to be accompanied by an expansion in operating profit: taking the figure for fiscal 2013/2014 (EUR135 million), adjusted for exceptional items, as a starting point, the company had aimed to achieve a percentage increase in EBITA slightly above that of net sales. From the current perspective, these targets will not be met.
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