Source: Wincor Nixdorf
Wincor Nixdorf, one of the world's leading suppliers of IT solutions for the banking and retail industries, today announced that the company has ended its 2005/2006 fiscal year with a significant increase in operating profit (EBITA) of 18 percent and a 12 percent improvement in net sales. EBITA climbed to EUR 161 million (EUR 137 million) and net sales to EUR 1,948 million (EUR 1,744 million).
These figures mean that Wincor Nixdorf has again clearly surpassed its own growth forecasts, which had already been upgraded during the year to at least 15 percent for EBITA and at least 10 percent for net sales. "In the fiscal year just ended, everything went right," commented Karl-Heinz Stiller, CEO of Wincor Nixdorf AG.
Earnings before interest, tax, depreciation and amortization (EBITDA) grew in the period under review by 21 percent to EUR 203 million (EUR 168 million). Net income increased by 46 percent to EUR 82 million (EUR 56 million). Net income adjusted for the effect of amortization of product know-how (cash net income) grew by 32 percent to EUR 94 million (EUR 71 million). For reasons of completeness and ease of comparison, Wincor Nixdorf is also reporting its cash net income. In valuation terms, the product know-how arose at the time of the company's demerger from the Siemens Group in 1999.
"Our shareholders should be particularly pleased that we have again been able to increase our net income much more strongly than our EBITA," continued Stiller. Operating cash flow rose to EUR 154 million (EUR 133 million).
Wincor Nixdorf forecasts that it will increase EBITA by 8 percent and net sales by 6 percent in fiscal 2006/07. With this prognosis, the company confirms the medium-term growth expectations it had at the time of its initial public offering two years ago - based currently, admittedly, on a much higher departure point. As a result, the company will continue to outperform the market in its business segments.
Wincor Nixdorf AG will publish its audited group accounts and additional information on fiscal year 2005/2006 along with details of its current business performance at its annual results conference to be held on December 13, 2006 in Dusseldorf.