Wincor Nixdorf continues its success story - operating profit increases 18 percent
Preliminary figures for fiscal 2005/2006 (September 30)
Wincor Nixdorf AG, Paderborn, has ended its 2005/2006 fiscal year with a significant increase in operating profit (EBITA) of 18% and a 12% improvement in net sales. EBITA climbed to € 161 million (€ 137 million) and net sales to € 1,948 million (€ 1,744 million). These figures mean that the Company, which is one of the leading providers of IT solutions to branch and store operations in the retail and retail banking sectors, has again clearly surpassed its own growth forecasts, which already had been upgraded during the year to at least 15% for EBITA and at least 10% for net sales. “In the fiscal year just ended, everything went right,” commented Karl-Heinz Stiller, the CEO of Wincor Nixdorf AG.
Earnings before interest, tax, depreciation and amortization (EBITDA) grew in the period under review by 21% to € 203 million (€ 168 million). Net income increased by 46% to € 82 million (€ 56 million). Net income adjusted for the effect of amortization of product know-how (cash net income) grew by 32% to € 94 million (€ 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 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 (€ 133 million).
Wincor Nixdorf forecasts that it will increase EBITA by 8% and net sales by 6% 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 be publishing 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 Düsseldorf.