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Wincor Nixdorf continues on course of sustainable growth

Friday 19 December 2003 11:51 CET | News

In the 2002-2003 business year, which ended September 30, Wincor Nixdorf increased revenue 7.1 percent to Euro 1.44 billion.

At the same time, earnings before interest, taxes, depreciation and amortization (EBITA) rose 18 percent to Euro 104 million. For the fourth straight year since becoming an independent company, Wincor Nixdorf improved its business results. Both the banking and retail operations contributed to the sales growth. The number of Wincor Nixdorf employees worldwide increased in the business year by 365 to 4,983. Investments in research ! and development rose 4.6 percent to Euro 66.1 million. Wincor Nixdorf continued to drive the internationalization of its business, increasing the share of sales outside Germany by 62 percent to Euro 900 million of the total Euro 1.44 billion. International sales helped offset regional economic differences. Europe accounted for the largest share of international sales, with Wincor Nixdorf again able to achieve double-digit growth. Sales in Germany remained stable at Euro 540 million (previous business year: Euro 534 million) despite a difficult economic climate. While sales to retailers increased, those to banks failed to reach the year-earlier level due to their severe pressure to lower costs. Banking business: Significant international growth Wincor Nixdorf’s banking business, including services, rose 6 percent to Euro 839 million (Euro 792 million). The continued growth of international sales resulting from the intensified international focus contributed in helping the company overcome its dependence on the German market. In Eastern European, the company was not only able to maintain the same high level of business as the year before, but also successfully expand its excellent position in the area of cash systems. A huge share of this business was managed by local partners. In Western European the United Kingdom and France countries were among the countries reporting good sales. Although sales in Asia were substantial, Wincor Nixdorf sees a huge need for improvement in this region. In the United States, the cooperation with IBM led to expanded business activities and higher sales. The weak dollar and fierce competition from the other global equipment providers made the banking business extremely difficult. Nevertheless, Wincor Nixdorf was able to increase the number of systems (24 percent with ATMs) and further optimize production processes. The company was also able to achieve substantial growth with banking terminal systems. In the software and consulting area, the focus was on counter/register solutions. The IT services business experienced strong demand in Europe and was also able grow in Germany, the companys largest market. German retailers are investing again in IT The business with IT solutions for retail companies, including services, had a positive growth of 9 percent to Euro 602 million (Euro 533 million). Major contributors to this development were the German market, which had suffered from stagnation for some time, and the newly expanded international business. Europe was the focus of Wincor Nixdorfs international retail business expansion. The company was able to increase sales in France and the U.K., as well as several others Eastern European countries. Outside of Europe – with the exception of the U.S. – sales remained below expectations. POS (point-of-sale) systems were primarily responsible for driving growth in retail sales: The number of POS systems increased 33 percent in the 2002-2003 business year. Wincor Nixdorf continued to expand sales in the software and consulting area. The retail enterprise solutions business area developed positively thanks in part to the concentration of SAP Retail in the German-speaking region of Europe. The IT services business with retail companies continued its successful development. Wincor Nixdorf was able to underscore its comprehensive process and technology know-h


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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce