Having completed the first two quarters of fiscal 2012/2013, Wincor Nixdorf AG sees a slightly more positive outlook for its business over the course of the financial year as a whole.
The company anticipates that it will exceed its previous forecast of 2% growth in net sales, while EBITA is on course to reach the target of at least €120 million (including restructuring costs).
The Wincor Nixdorf Group saw net sales rise by 10% to €1,266 million in the first half of fiscal 2012/2013 (6 months 2011/2012 [referred to hereafter as "previous year"]: €1,156 million). In the first half of the current fiscal year, operating profit (EBITA) including restructuring costs rose by 47% year on year to €66 million (previous year: €45 million). The EBITA margin was 1.3 percentage points higher at 5.2% (previous year: 3.9%). Profit for the first six months of fiscal 2012/2013 was up 63% at €44 million (previous year: €27 million).
Wincor Nixdorf's encouraging performance is supported by continued growth in the emerging markets. By contrast, no sustainable signs of recovery are apparent for business in many industrialized countries, especially in Europe, Wincor Nixdorf's core market. "The progress we have made with regard to our business in the emerging markets provides further support for the realignment of our global activities, which is making good headway," said CEO Eckard Heidloff. This process includes restructuring already underway with regard to the Hardware segment's global procurement, manufacturing and supply network. In this context, existing production at the company's facility in Singapore will be discontinued and transferred to China as well as to business partners. The company also plans to maintain its strategy of migrating further administrative and support positions to centralized regional service centers. The process of strengthening the company's Software business and its Professional Services capabilities is proceeding according to plan. "The success we achieved so far confirms that we are on the right path with the measures we have introduced to realign our business," Heidloff said. "It is also clear that we need to remain fully committed to pursuing this path."
In the Banking segment, net sales rose by 13% to €828 million in the first six months of fiscal 2012/2013 (previous year: €732 million). Second-quarter revenue was up 11%. EBITA for the Banking segment in the first six months of the fiscal year stood at €55 million (previous year: €26 million), an increase of 112%.
Net sales generated in the Retail segment rose by 3% in the first six months of the fiscal year, reaching €438 million in total (previous year: €424 million). In the second quarter, net sales were 5% higher compared to the previous year. EBITA for the Retail segment fell by 42% to €11 million in the period just ended (previous year: €19 million).
In Germany, net sales for the first half of the fiscal year were 5% lower at €284 million (previous year: €300 million), thus accounting for 22% of the Group's total net sales in the reporting period (previous year: 26%). In the second quarter, net sales in Germany fell by 10% to €130 million (previous year: 145 million).
Fueled in particular by growth in the emerging European markets, net sales in Europe (excluding Germany) rose by 13% in the first six months of the fiscal year to €631 million (previous year: €559 million). At 50% (previous year: 48%), Europe generated the largest share of the Group's total net sales. In the second quarter of the fiscal year, net sales in this region was 19% higher at €314 million (previous year: €264 million).
Asia/Pacific/Africa saw net sales rise by 22% to €215 million in the first six months of the current fiscal year (previous year: €176 million). Thus, the Asia/Pacific/Africa region contributed a share of 17% (previous year: 15%) to total net sales for the Group. Net second-quarter sales in the region rose by 12% to €95 million (previous year: €85 million).
In U.S. dollars, the Americas recorded a 10% increase in net sales during the first half of the fiscal year. Translated into euros, this is equivalent to an increase of 12% to €136 million (previous year: €121 million). On this basis, the proportion of total net sales generated by the Americas was unchanged at 11%. In the second quarter, net sales in the region were up 7% at €58 million (previous year: €54 million).
In the first half of the fiscal year, net sales attributable to the Hardware business rose by 13% to €616 million (previous year: €543 million). In the Software/Services business, net sales were up 6% at €650 million (previous year: €613 million). The share of total net sales generated by the Hardware business rose to 49% in the period under review (previous year: 47%). Correspondingly, the proportion of total net sales derived from Software/Services fell to 51% (previous year: 53%).