DGAP Post-admission Duties announcement: Diebold Nixdorf, Incorporated / Third country release according to Article 50 Para. 1, No. 2 of the WpHG [the German Securities Trading Act]
Diebold Nixdorf, Incorporated: Release according to Article 50 of the WpHG [the German Securities Trading Act] with the objective of Europe-wide distribution
2020-02-11 / 13:36
Dissemination of a Post-admission Duties announcement according to Article 50 Para. 1, No. 2 WpHG transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
/ *Press Release*
_Media contact:_ _Investor contact:_
Mike Jacobsen, APR Steve Virostek
+1 330 490 3796 +1 330 490 6319
michael.jacobsen@dieboldnixdorf.com steve.virostek@dieboldnixdorf.com
*FOR IMMEDIATE RELEASE:*
Feb. 11, 2020
*DIEBOLD NIXDORF REPORTS 2019 FOURTH QUARTER AND FULL-YEAR FINANCIAL RESULTS*
_Company meets previously announced financial outlook for 2019 and increases savings target to $440 million through 2021 off strong execution_
_- _Q4 GAAP gross profit was $270.4 million, with GAAP gross margin expanding from 16.3% to 23.5% YOY; non-GAAP gross profit was $303.1 million, with non-GAAP gross margin
increasing from 23.3% to 26.3% YOY
- GAAP net loss for Q4 was $122.6 million and was essentially unchanged from the prior-year period; adjusted EBITDA in Q4 was $130.9 million, an increase of 5.3% from the prior-year
quarter
- On a full-year basis, net cash provided by operating activities was $135.8 million, a YOY improvement of $239.9 million; full-year free cash flow of $92.9 million improved by
$255.5 million
- Q4 revenue of $1.2 billion decreased 10.7% as reported and decreased 9.4% in constant currency, reflecting a strong Q4 2018, the impact of divestitures and other deliberate
actions to improve the quality of revenue; full-year revenue was $4.4 billion, down 3.7% on an as-reported basis and down 0.4% in constant currency
- Q4 GAAP loss per share was $1.60, or earnings of $0.47 per share on a non-GAAP basis; full-year GAAP loss per share was $4.45, or a loss of $0.14 per share on a non-GAAP basis
NORTH CANTON, Ohio - Diebold Nixdorf, Incorporated (NYSE: DBD), a global leader in driving connected commerce, today reported its 2019 fourth quarter and full-year financial
results.
*Gerrard Schmid, Diebold Nixdorf president and chief executive officer, said: *'We completed 2019 with strong momentum as we continued to execute on our DN Now transformation
initiatives and delivered on our commitments. Financial results were in-line with, or better than, our expectations. During the full year, we improved adjusted EBITDA by 25% on
stable constant currency revenue, and substantially improved free cash flow. I am pleased that we delivered these results against a backdrop of stronger customer satisfaction. Our
management team is very encouraged by these accomplishments, and we enter 2020 with a strong foundation to build upon.'
Schmid continued, 'Moving forward, we expect to enhance our growth and differentiation through our DN Series ATMs, our Retail self-checkout technology, our market-leading
Services business, and targeted investments in our Software and Services businesses. Off the back of strong execution of our DN Now program and solid momentum entering 2020, we are
increasing our savings target from $400 million to $440 million through 2021.'
*2019 Fourth Quarter Business Highlights*
*- *Signed a multi-million dollar global agreement with Citibank for Vynamic software and DN Series ATMs
- Won a multi-year ATM-as-a-Service agreement in Belgium with JoFiCo to update and maintain approximately 1,560 ATMs
- Selected by a top U.S. financial institution to provide approximately 20,000 Vynamic software marketing licenses and associated services
- Secured a multi-million dollar contract with Swisslos for 5,000 all-in-one POS terminals
- Signed a comprehensive solutions contract, valued at nearly $10 million, with one of the largest banks in the Philippines to upgrade its ATM fleet to Windows 10
- Won a three-year, multi-million dollar agreement with a European DIY retailer to refresh the end-to-end customer checkout experience in more than 600 stores spanning 12 countries
*Financial Results of Operations and Segments and Lines of Business*
Revenue Summary by Reportable Segments and Lines of Business -- Unaudited
_Three months ended December 31, 2019 compared with December 31, 2018>_
_(Dollars
in *% Change
millions)_ *2019* *2018* *% Change* in CC (1)*
_Segments
and Lines
of
Business_
_Eurasia
Banking_
_Services_ _$_ _215.4_ _$_ _239.7_ _(10.1_ _)_ _(9.0_ _)_
_Products_ _171.6_ _197.1_ _(12.9_ _)_ _(11.2_ _)_
_Software_ _44.8_ _56.5_ _(20.7_ _)_ _(19.4_ _)_
_Total
Eurasia
Banking_ _431.8_ _493.3_ _(12.5_ _)_ _(11.1_ _)_
_Americas
Banking_
_Services_ _230.4_ _234.3_ _(1.7_ _)_ _(1.1_ _)_
_Products_ _145.9_ _160.8_ _(9.3_ _)_ _(8.5_ _)_
_Software_ _41.4_ _33.8_ _22.5_ _23.2_
_Total
Americas
Banking_ _417.7_ _428.9_ _(2.6_ _)_ _(2.0_ _)_
_Retail_
_Services_ _122.3_ _132.6_ _(7.8_ _)_ _(5.5_ _)_
_Products_ _131.5_ _183.2_ _(28.2_ _)_ _(26.9_ _)_
_Software_ _48.3_ _51.8_ _(6.8_ _)_ _(4.4_ _)_
_Total
Retail_ _302.1_ _367.6_ _(17.8_ _)_ _(16.0_ _)_
_Total net _1,151. _1,289.
sales_ _$_ 6_ _$_ 8_ _(10.7_ _)_ _(9.4_ _)_
(1) - The company calculates constant currency by translating the prior-year period results at the 2019 exchange rate.
Year ended December 31, 2019 compared with December 31, 2018
_(Dollars
in *% Change
millions)_ *2019* *2018* *% Change* in CC (1)*
_Segments
and Lines
of
Business_
_Eurasia
Banking_
_Services_ _$_ _855.1_ _$_ _941.9_ _(9.2_ _)_ _(5.1_ _)_
_Products_ _623.0_ _648.8_ _(4.0_ _)_ _0.5_
_Software_ _171.7_ _209.5_ _(18.0_ _)_ _(14.1_ _)_
_Total
Eurasia
Banking_ _1,649.8_ _1,800.2_ _(8.4_ _)_ _(4.1_ _)_
_Americas
Banking_
_Services_ _916.8_ _941.0_ _(2.6_ _)_ _(1.9_ _)_
_Products_ _553.8_ _453.1_ _22.2_ _23.1_
_Software_ _133.4_ _121.6_ _9.7_ _11.7_
_Total
Americas
Banking_ _1,604.0_ _1,515.7_ _5.8_ _6.7_
_Retail_
_Services_ _458.6_ _493.3_ _(7.0_ _)_ _(2.1_ _)_
_Products_ _532.8_ _595.6_ _(10.5_ _)_ _(6.5_ _)_
_Software_ _163.5_ _173.8_ _(5.9_ _)_ _(0.8_ _)_
_Total
Retail_ _1,154.9_ _1,262.7_ _(8.5_ _)_ _(4.0_ _)_
_Total net _4,408. _4,578.
sales_ _$_ 7_ _$_ 6_ _(3.7_ _)_ _(0.4_ _)_
(1) - The company calculates constant currency by translating the prior-year period results at the 2019 exchange rate.
*Full-year 2020 Outloo**k1*
*2020 Outlook*
*Total Revenue* _$4.2 billion - $4.3 billion_
*Adjusted EBITDA2* _$430 million - $470 million_
*Net cash provided by operating
activities* _$170 million - $200 million_
*Capital expenditures* _ ($70 million)_
*Free cash flow* _$100 million - $130 million_
_1- The company's 2020 outlook includes the impact of deconsolidating two joint ventures in China, which was finalized in the first quarter 2020, and the divestiture of Diebold
Nixdorf Portavis GmbH, which is expected to be finalized in the first quarter 2020._
2 - With respect to the company's non-GAAP adjusted EBITDA outlook for 2020, it is not providing a reconciliation to the most directly comparable GAAP financial measure because it
is unable to predict with reasonable certainty those items that may affect such measures calculated and presented in accordance with GAAP without unreasonable effort. These measures
primarily exclude the future impact of restructuring actions and net non-routine items. These reconciling items are uncertain, depend on various factors and could significantly
impact, either individually or in the aggregate, net income calculated and presented in accordance with GAAP. Please see 'Use of Non-GAAP Financial Measures' for additional
information regarding our use of non-GAAP financial measures.
*Overview Presentation and Conference Call*
More information on Diebold Nixdorf's quarterly earnings is available on it's Investor Relations website. Gerrard Schmid, president and chief executive officer, and Jeffrey
Rutherford, senior vice president and chief financial officer, will discuss the company's financial performance during a conference call today at 8:30 a.m. (ET). Both the
presentation and access to the call / webcast are available at http://www.dieboldnixdorf.com/earnings. The replay of the webcast can be accessed on the web site for up to three
months after the call.
*About Diebold Nixdorf*
Diebold Nixdorf, Incorporated (NYSE: DBD) is a world leader in enabling connected commerce. We automate, digitize and transform the way people bank and shop. As a partner to the
majority of the world's top 100 financial institutions and top 25 global retailers, our integrated solutions connect digital and physical channels conveniently, securely and
efficiently for millions of consumers each day. The company has a presence in more than 100 countries with approximately 22,000 employees worldwide. Visit www.DieboldNixdorf.com for
more information.
Twitter: @DieboldNixdorf
LinkedIn: www.linkedin.com/company/diebold
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