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DGAP-CMS: Diebold Nixdorf, Incorporated: Release -5-

DJ DGAP-CMS: Diebold Nixdorf, Incorporated: Release according to Article 50 of the WpHG [the German Securities Trading Act] with the objective of Europe-wide distribution

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 

(MORE TO FOLLOW) Dow Jones Newswires

February 11, 2020 07:37 ET (12:37 GMT)

DJ DGAP-CMS: Diebold Nixdorf, Incorporated: Release -2-

Facebook: www.facebook.com/DieboldNixdorf 
YouTube: www.youtube.com/dieboldnixdorf 
 
*Non-GAAP Financial Measures and Other Information* 
To supplement our condensed consolidated financial statements presented in accordance with GAAP, the company considers certain financial measures that are not prepared in accordance 
with GAAP, including non-GAAP results, adjusted diluted earnings per share, free cash flow/(use), net investment/(debt), EBITDA, adjusted EBITDA, non-GAAP effective tax rate and 
constant currency results. The company calculates constant currency by translating the prior year results at the current year exchange rate. The company uses these non-GAAP 
financial measures, in addition to GAAP financial measures, to evaluate our operating and financial performance and to compare such performance to that of prior periods and to the 
performance of our competitors. Also, the company uses these non-GAAP financial measures in making operational and financial decisions and in establishing operational goals. The 
company also believes providing these non-GAAP financial measures to investors, as a supplement to GAAP financial measures, helps investors evaluate our operating and financial 
performance and trends in our business, consistent with how management evaluates such performance and trends. The company also believes these non-GAAP financial measures may be 
useful to investors in comparing its performance to the performance of other companies, although its non-GAAP financial measures are specific to the company and the non-GAAP 
financial measures of other companies may not be calculated in the same manner. We provide EBITDA and adjusted EBITDA because we believe that investors and securities analysts will 
find EBITDA and adjusted EBITDA to be useful measures for evaluating our operating performance and comparing our operating performance with that of similar companies that have 
different capital structures and for evaluating our ability to meet our future debt service, capital expenditures and working capital requirements. We are also providing EBITDA and 
adjusted EBITDA in light of our credit agreement and 8.5% senior notes due 2024. For more information, please refer to the section, 'Notes for Non-GAAP Measures.' 
*Forward-Looking Statements* 
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding anticipated 
adjusted revenue growth, adjusted internal revenue growth, adjusted diluted earnings per share and adjusted earnings per share growth. Statements can generally be identified as 
forward looking because they include words such as 'believes,' 'anticipates,' 'expects,' 'could,' 'should' or words of similar meaning. Statements that describe the company's future 
plans, objectives or goals are also forward looking statements. Forward-looking statements are subject to assumptions, risks and uncertainties that may cause actual results to 
differ materially from those contemplated by such forward-looking statements. The factors that may affect the company's results include, among others: the ultimate impact of the 
appraisal proceedings initiated in connection with the implementation of the domination and profit and loss transfer agreement with Diebold Nixdorf AG and the merger squeeze-out; 
the success of the company's new products, including its DN Series line; the company's ability to successfully operate its strategic alliances in China; the changes in political, 
economic or other factors such as interest rates, currency exchange rates, inflation rates, recessionary or expansive trends, taxes and regulations and laws affecting the worldwide 
business in each of the company's operations; the company's reliance on suppliers and any potential disruption to the company's global supply chain; changes in the company's 
relationships with customers, suppliers, distributors and/or partners in its business ventures; the impact of market and economic conditions, including any additional deterioration 
and disruption in the financial and service markets, including the bankruptcies, restructurings or consolidations of financial institutions, which could reduce our customer base 
and/or adversely affect our customers' ability to make capital expenditures, as well as adversely impact the availability and cost of credit; the acceptance of the company's product 
and technology introductions in the marketplace; competitive pressures, including pricing pressures and technological developments; the effect of legislative and regulatory actions 
in the United States and internationally; the company's ability to comply with government regulations; the impact of a security breach or operational failure on the company's 
business; the company's ability to achieve benefits from its cost reduction initiatives and other strategic initiatives, such as DN Now, including its planned restructuring actions, 
as well as its business process outsourcing initiative; unanticipated litigation, claims or assessments, as well as the outcome/impact of any current/pending litigation, claims or 
assessments; the company's success in divesting, reorganizing or exiting non-core and/or non-accretive businesses; changes in the company's intention to further repatriate cash and 
cash equivalents and short-term investments residing in international tax jurisdictions, which could negatively impact foreign and domestic taxes; the company's ability to maintain 
effective internal controls; the company's ability to comply with covenants contained in the agreements governing its debt; the investment performance of the company's pension plan 
assets, which could require the company to increase its pension contributions, and significant changes in healthcare costs, including those that may result from government action; 
the amount and timing of repurchases of the company's common shares, if any; the company's ability to successfully refinance its debt when necessary or desirable; and other factors 
included in the company's filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2018 and in other documents that the company files with the 
SEC. You should consider these factors carefully in evaluating forward looking statements and are cautioned not to place undue reliance on such statements. The company assumes no 
obligation to update any forward-looking statements, which speak only to the date of this release. 
 
*DIEBOLD NIXDORF, INCORPORATED 
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED 
(IN MILLIONS EXCEPT EARNINGS PER SHARE)* 
 
                    *Q4 2019*           *Q4 2018*        *YTD 12/31/2019*    *YTD 12/31/2018* 
_Net sales_ 
                                                             _2,608.0            _2,789.5 
_Services_      _$_   _677.0_       _$_   _726.9_       _$_         _       _$_         _ 
_Products_            _474.6_             _562.9_           _1,800.7_           _1,789.1_ 
*Total*             _1,151.6_           _1,289.8_           _4,408.7_           _4,578.6_ 
_Cost of 
sales_ 
_Services_            _497.8_             _563.8_           _1,921.1_           _2,157.0_ 
_Products_            _383.4_             _516.2_           _1,420.5_           _1,522.8_ 
*Total*               _881.2_           _1,080.0_           _3,341.6_           _3,679.8_ 
*Gross profit*        _270.4_             _209.8_           _1,067.1_             _898.8_ 
_Gross margin_         _23.5_  _%_         _16.3_  _%_         _24.2_  _%_         _19.6_  _%_ 
_Operating 
expenses_ 
_Selling and 
administrative 
expense_              _234.5_             _223.6_             _908.8_             _893.5_ 
_Research, 
development 
and 
engineering 
expense_               _37.3_              _38.5_             _147.1_             _157.4_ 
_Impairment of 
assets(1)_             _30.2_                 _-_              _30.2_             _180.2_ 
_Loss (gain) 
on sale of 
assets, net_            _1.0_               _0.1_               _7.6_              _(6.7_ _)_ 
_Total_               _303.0_             _262.2_           _1,093.7_           _1,224.4_ 
_Percent of 
net sales_             _26.3_  _%_         _20.3_  _%_         _24.8_  _%_         _26.7_  _%_ 
*Operating 
loss*                 _(32.6_ _)_         _(52.4_ _)_         _(26.6_ _)_        _(325.6_ _)_ 
_Operating 
margin_                _(2.8_ _)%_         _(4.1_ _)%_         _(0.6_ _)%_         _(7.1_ _)%_ 
_Other income 
(expense)_ 
_Interest 
income_                 _2.3_               _1.1_               _9.3_               _8.7_ 
_Interest 
expense_              _(49.6_ _)_         _(55.3_ _)_        _(202.9_ _)_        _(154.9_ _)_ 
_Foreign 
exchange loss, 
net_                   _(1.0_ _)_          _(0.2_ _)_          _(5.1_ _)_          _(2.5_ _)_ 
_Miscellaneous 
, net_                 _(0.8_ _)_           _0.3_              _(3.6_ _)_          _(4.0_ _)_ 
_Total other 
income 
(expense), 
net_                  _(49.1_ _)_         _(54.1_ _)_        _(202.3_ _)_        _(152.7_ _)_ 
*Income (loss) 
before taxes*         _(81.7_ _)_        _(106.5_ _)_        _(228.9_ _)_        _(478.3_ _)_ 
_Income tax 
expense_               _41.9_               _2.6_             _116.7_              _37.2_ 
_Equity in 
earnings 
(loss) of 
unconsolidated 
subsidiaries, 
net_                    _1.0_             _(18.4_ _)_           _1.0_             _(13.2_ _)_ 
_Net loss_           _(122.6_ _)_        _(127.5_ _)_        _(344.6_ _)_        _(528.7_ _)_ 
_Net income 
(loss) 
attributable 
to 
noncontrolling 
interests_                _-_              _(3.9_ _)_          _(3.3_ _)_           _2.7_ 
*Net loss 
attributable 
to Diebold 
Nixdorf, 
Incorporated*   _$_  _(122.6_ _)_   _$_  _(123.6_ _)_   _$_  _(341.3_ _)_   _$_  _(531.4_ _)_ 
 
_Basic and 
diluted 
weighted-avera 
ge shares 
outstanding_           _76.8_              _76.1_              _76.7_              _76.0_ 
 
*Net loss 
attributable 
to Diebold 
Nixdorf, 
Incorporated* 
_Basic and 
diluted loss 

(MORE TO FOLLOW) Dow Jones Newswires

February 11, 2020 07:37 ET (12:37 GMT)

DJ DGAP-CMS: Diebold Nixdorf, Incorporated: Release -3-

per share_      _$_   _(1.60_ _)_   _$_   _(1.62_ _)_   _$_   _(4.45_ _)_   _$_   _(6.99_ _)_ 
 
_(1) The Company corrected an immaterial error in impairment of assets related to the goodwill impairment recorded in the second and third quarters of 2018._ 
 
*DIEBOLD NIXDORF, INCORPORATED 
CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED 
(IN MILLIONS)* 
 
                     *12/31/2019*             *12/31/2018* 
 
   *ASSETS* 
_Current 
assets_ 
_Cash, cash 
equivalents and 
restricted 
cash_           _$_    _280.9_          _$_      _458.4_ 
_Short-term 
investments_            _10.0_                    _33.5_ 
_Trade 
receivables, 
less allowances 
for doubtful 
accounts_              _619.3_                   _737.2_ 
_Inventories_          _466.5_                   _610.1_ 
_Other current 
assets_                _515.3_                   _361.7_ 
_Total current 
assets_              _1,892.0_                 _2,200.9_ 
 
_Securities and 
other 
investments_            _21.4_                    _22.4_ 
_Property, 
plant and 
equipment, net_        _231.5_                   _304.1_ 
_Goodwill (1)_         _764.0_                   _798.2_ 
_Customer 
relationships, 
net_                   _447.7_                   _533.1_ 
_Intangible 
assets, net_            _54.6_                    _91.5_ 
_Right-of-use 
operating lease 
assets_                _167.5_                       _-_ 
_Other assets_         _211.9_                   _330.3_ 
                       _3,790.                  _4,280.5 
*Total assets*  _$_         6_          _$_            _ 
 
 *LIABILITIES, 
  REDEEMABLE 
NONCONTROLLING 
 INTERESTS AND 
    EQUITY* 
_Current 
liabilities_ 
_Notes payable_ _$_     _32.5_          _$_       _49.5_ 
_Accounts 
payable_               _471.5_                   _509.5_ 
_Deferred 
revenue_               _320.5_                   _378.2_ 
_Operating 
lease 
liabilities_            _62.8_                       _-_ 
_Other current 
liabilities_           _712.3_                   _631.2_ 
_Total current 
liabilities_         _1,599.6_                 _1,568.4_ 
 
_Long-term 
debt_                _2,108.7_                 _2,190.0_ 
_Long-term 
operating lease 
liabilities_           _106.4_                       _-_ 
_Long-term 
liabilities 
(1)_                   _461.3_                   _514.6_ 
 
_Redeemable 
noncontrolling 
interests_              _20.9_                   _130.4_ 
 
_Total Diebold 
Nixdorf, 
Incorporated 
shareholders' 
equity (1)_           _(530.3_ _)_              _(149.7_ _)_ 
_Noncontrolling 
interests_              _24.0_                    _26.8_ 
*Total equity*        _(506.3_ _)_              _(122.9_ _)_ 
*Total 
liabilities, 
redeemable 
noncontrolling 
interests and          _3,790.                  _4,280.5 
equity*         _$_         6_          _$_            _ 
 
(1) The Company corrected an immaterial error related to deferred tax liabilities included within Long-term liabilities, and related corrections to Goodwill and Total Diebold 
Nixdorf, Incorporated shareholders' equity in the comparable period, as presented. 
 
*DIEBOLD NIXDORF, INCORPORATED 
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED 
(IN MILLIONS)* 
 
                  *YTD 12/31/2019*          *YTD 12/31/2018* 
*Cash flow 
from operating 
activities* 
_Net loss(1)_  _$_    _(344.6_ _)_      _$_     _(528.7_ _)_ 
_Adjustments 
to reconcile 
net loss to 
cash provided 
(used) by 
operating 
activities:_ 
_Depreciation 
and 
amortization_          _226.1_                   _247.8_ 
_Impairment of 
assets(1)_              _30.2_                   _180.2_ 
_Deferred 
income taxes_           _54.2_                   _(59.6_ _)_ 
_Inventory 
charge_                 _23.8_                    _74.5_ 
_Other_                 _30.5_                    _27.0_ 
_Changes in 
certain assets 
and 
liabilities_ 
_Trade 
receivables_           _111.5_                    _51.0_ 
_Inventories_          _104.9_                    _(5.1_ _)_ 
_Accounts 
payable_               _(33.1_ _)_               _(34.5_ _)_ 
_Income taxes_           _0.9_                    _(1.7_ _)_ 
_Deferred 
revenue_               _(54.9_ _)_               _(42.4_ _)_ 
_Warranty 
liability_              _(3.4_ _)_               _(33.1_ _)_ 
_Certain other 
assets and 
liabilities_           _(10.3_ _)_                _20.5_ 
*Net cash 
provided 
(used) by 
operating 
activities*            _135.8_                  _(104.1_ _)_ 
*Cash flow 
from investing 
activities* 
_Capital 
expenditures_          _(42.9_ _)_               _(58.5_ _)_ 
_Payments for 
acquisition_               _-_                    _(5.9_ _)_ 
_Net 
investment 
activity_               _19.5_                   _117.6_ 
_Proceeds from 
divestitures 
and the sale 
of assets_              _29.9_                    _11.1_ 
_Decrease in 
certain other 
assets_                _(13.3_ _)_               _(29.9_ _)_ 
*Net cash 
provided 
(used) by 
investing 
activities*             _(6.8_ _)_                _34.4_ 
*Cash flow 
from financing 
activities* 
_Dividends 
paid_                      _-_                    _(7.7_ _)_ 
_Net debt 
borrowings_           _(115.9_ _)_               _398.8_ 
_Distributions 
and payments 
to 
noncontrolling 
interest 
holders_               _(98.1_ _)_              _(377.2_ _)_ 
_Repurchase of 
common shares_          _(1.5_ _)_                _(3.0_ _)_ 
*Net cash 
provided 
(used) by 
financing 
activities*           _(215.5_ _)_                _10.9_ 
_Effect of 
exchange rate 
changes on 
cash_                   _(1.1_ _)_               _(18.7_ _)_ 
_Decrease in 
cash, cash 
equivalents 
and restricted 
cash_                  _(87.6_ _)_               _(77.5_ _)_ 
_Add: Cash 
(overdrafts) 
included in 
assets held 
for sale at 
beginning of 
year_                    _7.3_                       _-_ 
_Less: Cash 
included in 
assets held 
for sale at 
end of year_            _97.2_                     _7.3_ 
_Cash, cash 
equivalents 
and restricted 
cash at the 
beginning of 
the year_              _458.4_                   _543.2_ 
*Cash, cash 
equivalents 
and restricted 
cash at the 
end of the 
year*          _$_     _280.9_          _$_      _458.4_ 
 
_(1) The company corrected an immaterial error related to net loss and impairment of assets in the comparable period as presented._ 
 
*Notes for Non-GAAP Measures* 
To supplement our condensed consolidated financial statements presented in accordance with GAAP, the company considers certain financial measures that are not prepared in accordance 
with GAAP, including non-GAAP results, adjusted diluted earnings per share, EBITDA and Adjusted EBITDA, free cash flow/(use) and net investment/(debt). The tables below have been 
updated to reflect the immaterial error corrections noted in the condensed consolidated statements of operations, condensed consolidated statements of balance sheets and condensed 
consolidated statements of cash flows where appropriate. 
 
*1. *Profit/loss summary (Dollars in millions): 
 
                                                    *Q4 2019*                                                                          *Q4 2018* 
                               *Gross       *% of                                        *% of                   *Gross        *% of                                         *% of 
                   *Rev*      Profit*       Sales*        *OPEX*           *OP*         Sales*       *Rev*       Profit*       Sales*        *OPEX*            *OP*         Sales* 
                     _1                                                                                _1 
                     ,1                                                                                ,2 
                     51                                                                                89 
                     .6                                                                                .8 
_GAAP results_   _$_  _    _$_ _270.4_    _23.5_ _%_ _$_  _303.0_     _$_ _(32.6_ _)_ _(2.8_ _)%_  _$_  _    _$_ _209.8_     _16.3_ _%_ _$_  _262.2_     _$_  _(52.4_ _)_ _(4.1_ _)%_ 
_Restructuring 
and DN Now 
transformation 
expenses_           _-_          _3.4_                    _(47.7_ _)_      _51.1_                     _-_         _18.1_                     _(14.3_ _)_       _32.4_ 
_Non-routine 
income/expense:_ 
_Impairment_        _-_            _-_                    _(30.2_ _)_      _30.2_                     _-_            _-_                         _-_              _-_ 
_Legal / deal 
expense_            _-_            _-_                     _(4.3_ _)_       _4.3_                     _-_            _-_                      _(1.3_ _)_        _1.3_ 
_Acquisition 
integration_        _-_            _-_                        _-_             _-_                     _-_          _0.6_                      _(6.6_ _)_        _7.2_ 
_Wincor Nixdorf 
purchase 
accounting 
adjustments_        _-_          _3.2_                    _(18.3_ _)_      _21.5_                     _-_          _3.4_                     _(21.4_ _)_       _24.8_ 
_Divestitures 
and fixed asset 
sales_                             _-_                     _(0.3_ _)_       _0.3_                     _-_            _-_                       _0.9_           _(0.9_ _)_ 
_Inventory gain 
/ charge_           _-_         _22.8_                        _-_          _22.8_                     _-_         _70.5_                         _-_           _70.5_ 
_Other_             _-_          _3.3_                      _0.5_           _2.8_                     _-_         _(2.2_ _)_                  _(2.4_ _)_        _0.2_ 
_Non-routine 
expenses, net_      _-_         _29.3_                    _(52.6_ _)_      _81.9_                     _-_         _72.3_                     _(30.8_ _)_      _103.1_ 
                     _1                                                                                _1 
                     ,1                                                                                ,2 

(MORE TO FOLLOW) Dow Jones Newswires

February 11, 2020 07:37 ET (12:37 GMT)

DJ DGAP-CMS: Diebold Nixdorf, Incorporated: Release -4-

51                                                                                89 
_Non-GAAP            .6                                                                                .8 
results_         _$_  _    _$_ _303.1_    _26.3_ _%_ _$_  _202.7_     _$_ _100.4_      _8.7_  _%_  _$_  _    _$_ _300.2_     _23.3_ _%_ _$_  _217.1_     _$_   _83.1_      _6.4_  _%_ 
                                               *YTD 12/31/2019*                                                                  *YTD 12/31/2018* 
                             *Gross     *% of                                         *% of                   *Gross        *% of                                          *% of 
                   *Rev*    Profit*     Sales*        *OPEX*            *OP*         Sales*       *Rev*       Profit*       Sales*        *OPEX*            *OP*          Sales* 
                     _4                                                                             _4 
                     ,4                                                                             ,5 
                     08        _1,                                                                  78 
                     .7        067                    _1,093.                                       .6                                    _1,224. 
_GAAP results_   _$_  _    _$_ .1_    _24.2_ _%_ _$_       7_     _$_  _(26.6_ _)_ _(0.6_ _)%_  _$_  _    _$_ _898.8_     _19.6_ _%_ _$_       4_     _$_  _(325.6_ _)_ _(7.1_ _)%_ 
_Restructuring 
and DN Now 
transformation 
expenses_           _-_      _9.6_                   _(105.2_ _)_      _114.8_                     _-_         _28.6_                     _(50.7_ _)_        _79.3_ 
_Non-routine 
income/expense:_ 
_Impairment_        _-_        _-_                    _(30.2_ _)_       _30.2_                     _-_            _-_                    _(180.2_ _)_       _180.2_ 
_Legal / deal 
expense_            _-_        _-_                    _(20.6_ _)_       _20.6_                     _-_            _-_                      _(5.0_ _)_         _5.0_ 
_Acquisition 
integration_        _-_        _-_                     _(1.4_ _)_        _1.4_                     _-_          _3.8_                     _(43.4_ _)_        _47.2_ 
_Wincor Nixdorf 
purchase 
accounting 
adjustments_        _-_     _13.3_                    _(80.0_ _)_       _93.3_                     _-_         _24.3_                     _(89.1_ _)_       _113.4_ 
_Divestitures 
and fixed asset 
sales_              _-_        _-_                     _(6.2_ _)_        _6.2_                     _-_            _-_                       _9.0_            _(9.0_ _)_ 
_Inventory gain 
/ charge_           _-_     _12.8_                        _-_           _12.8_                     _-_         _74.5_                         _-_            _74.5_ 
_Other_             _-_      _6.2_                     _(9.0_ _)_       _15.2_                     _-_         _(5.3_ _)_                  _(2.6_ _)_        _(2.7_ _)_ 
_Non-routine 
expenses, net_      _-_     _32.3_                   _(147.4_ _)_      _179.7_                     _-_         _97.3_                    _(311.3_ _)_       _408.6_ 
                     _4                                                                             _4 
                     ,4                                                                             ,5 
                     08        _1,                                                                  78 
_Non-GAAP            .7        109                                                                  .6        _1,024. 
results_         _$_  _    _$_ .0_    _25.2_ _%_ _$_  _841.1_     _$_  _267.9_      _6.1_  _%_  _$_  _    _$_      7_     _22.4_ _%_ _$_  _862.4_     _$_   _162.3_      _3.5_  _%_ 
 
Restructuring and DN Now transformation expenses relate to the business transformation plan focused on driving connected commerce, finance, sales and operational excellence, 
business integration and global workforce alignment as well as the third-party costs of the DN Now transformation program. Legal and deal expenses primarily related to third-party 
expenses and fees paid by the company for the ongoing obligations related to prior regulatory settlements, including the cost of acquisition and real estate tax in connection with 
the squeeze-out proceedings and related expenses. The acquisition integration expenses primarily relate to the integration of Wincor Nixdorf. The Wincor Nixdorf purchase accounting 
adjustments relate to intangible asset charges as management believes that this is useful information to investors by highlighting the impact of the acquisition of Wincor Nixdorf on 
the company's operations. The divestitures and fixed asset sale relates to the liquidation and divestitures of Eurasia non-core businesses, the sale of Kony, Inc. and Venezuela 
business in 2019 as well as the sale of a North America building in 2018. The inventory gain/charge relates to the company's re-assessment of primarily finished goods and service 
parts due to contract cancellations and excess and obsolete inventory as a result of streamlining the company's product portfolio and optimizing its manufacturing footprint. Other 
includes executive severance, amounts related to the Brazil indirect tax matter, certain non-cash balance sheet adjustments in Brazil, Hong Kong, Canada and Poland as well as the 
German pension adjustment. 
 
_2. Reconciliation of GAAP net income (loss) to EBITDA and Adjusted EBITDA measures (Dollars in millions):_ 
 
                                                           *YTD               *YTD 
                   *Q4 2019*          *Q4 2018*         12/31/2019*        12/31/2018* 
*Net loss*      _$_ _(122.6_ _)_  _$_  _(127.5_ _)_  _$_  _(344.6_ _)_  _$_  _(528.7_ _)_ 
_Income tax 
expense_              _41.9_              _2.6_            _116.7_             _37.2_ 
_Interest 
income_               _(2.3_ _)_         _(1.1_ _)_         _(9.3_ _)_         _(8.7_ _)_ 
_Interest 
expense_              _49.6_             _55.3_            _202.9_            _154.9_ 
_Depreciation 
and 
amortization_         _49.3_             _56.6_            _204.2_            _234.5_ 
*EBITDA*              _15.9_            _(14.1_ _)_        _169.9_           _(110.8_ _)_ 
_Share-based 
compensation_          _4.6_              _9.4_             _24.0_             _36.6_ 
_Foreign 
exchange loss, 
net_                   _1.0_              _0.2_              _5.1_              _2.5_ 
_Miscellaneous 
, net_                 _0.8_             _(0.3_ _)_          _3.6_              _4.0_ 
_Equity in 
earnings 
(loss) of 
unconsolidated 
subsidiaries, 
net_                  _(1.0_ _)_         _18.4_             _(1.0_ _)_         _13.2_ 
_Restructuring 
and DN Now 
transformation 
expenses_             _51.1_             _32.4_            _114.8_             _79.3_ 
_Non-routine 
expenses, net_        _58.5_             _78.3_             _84.6_            _295.2_ 
*Adjusted 
EBITDA*         _$_  _130.9_      _$_   _124.3_      _$_   _401.0_      _$_   _320.0_ 
_Adjusted 
EBITDA % 
revenue_              _11.4_ _%_          _9.6_ _%_          _9.1_ _%_          _7.0_ _%_ 
 
We define EBITDA as net loss excluding income tax benefit, net interest, and depreciation and amortization expense. As defined in the company's credit agreement, Adjusted EBITDA is 
EBITDA before the effect of the following items: share-based compensation, foreign exchange loss net, miscellaneous net, equity in earnings (loss) of unconsolidated subsidiaries, 
net, restructuring expenses and DN Now transformation expenses and non-routine expenses net, as outlined in Note 1 of the non-GAAP measures. In order to remain comparable to the 
U.S. GAAP depreciation and amortization measures and avoid duplication, the Company reclassified $21.5 and $24.8, respectively, from non-routine expenses, net to the depreciation 
and amortization caption in the Adjusted EBITDA reconciliation for the three month periods ended December 31, 2019 and 2018, respectively, and $93.3 and $113.4 for the years ended 
December 31, 2019 and 2018, respectively. Deferred financing fees amortization is included in interest expense and GAAP depreciation and amortization; to avoid duplication, deferred 
financing fees amortization of $5.6 and $4.6 for the three months ended December 31, 2019 and 2018, respectively, and $21.9 and $13.3 for the years ended December 31, 2019 and 2018, 
respectively, were removed from the depreciation and amortization caption. Miscellaneous, net primarily consists of company owned life insurance contracts.The Company reclassified 
$2.8 and $10.9 for the three and twelve months ended December 31, 2018, respectively, within the operating activities of the condensed consolidated statements of cash flows from 
depreciation and amortization to certain other assets and liabilities for consistency with the current presentation, resulting in decreases to the prior-year EBITDA. Miscellaneous, 
net primarily consists of company-owned life insurance contracts. These are non-GAAP financial measurements used by management to enhance the understanding of our operating results. 
EBITDA and Adjusted EBITDA are key measures we use to evaluate our operational performance. We provide EBITDA and Adjusted EBITDA because we believe that investors and securities 
analysts will find EBITDA and Adjusted EBITDA to be useful measures for evaluating our operating performance and comparing our operating performance with that of similar companies 
that have different capital structures and for evaluating our ability to meet our future debt service, capital expenditures, and working capital requirements. However, EBITDA and 
Adjusted EBITDA should not be considered as alternatives to net loss as a measure of operating results or as alternatives to cash flows from operating activities as a measure of 
liquidity in accordance with GAAP. 
 
_3. Reconciliation of diluted GAAP EPS to non-GAAP EPS from continuing operations measures:_ 
 

(MORE TO FOLLOW) Dow Jones Newswires

February 11, 2020 07:37 ET (12:37 GMT)

*YTD              *YTD 
                   *Q4 2019*        *Q4 2018*        12/31/2019*      12/31/2018* 
_Total diluted 
EPS 
attributable 
to Diebold 
Nixdorf, 
Incorporated 
(GAAP 
measure)_       _$_ _(1.60_ _)_  _$_  _(1.62_ _)_  _$_ _(4.45_ _)_  _$_  _(6.99_ _)_ 
_Restructuring 
and DN Now 
transformation 
expenses_            _0.65_            _0.42_           _1.50_            _1.04_ 
_Non-routine 
(income)/expen 
se:_ 
_Impairment_         _0.38_               _-_           _0.39_            _2.37_ 
_Legal/deal 
expense_             _0.05_            _0.02_           _0.27_            _0.07_ 
_Acquisition 
integration_            _-_            _0.09_           _0.02_            _0.62_ 
_Wincor 
Nixdorf 
purchase 
accounting 
adjustments_         _0.27_            _0.32_           _1.21_            _1.49_ 
_Divestitures 
and fixed 
asset sales_            _-_           _(0.01_ _)_       _0.08_           _(0.12_ _)_ 
_Inventory 
charge_              _0.29_            _0.93_           _0.17_            _0.98_ 
_Equity in 
(earnings) 
loss of 
unconsolidated 
subsidiaries, 
net_                    _-_            _0.24_              _-_            _0.24_ 
_Other_              _0.06_            _0.02_           _0.16_           _(0.02_ _)_ 
_Total 
non-routine 
(income)/expen 
se_                  _1.05_            _1.61_           _2.30_            _5.63_ 
_Tax impact 
(inclusive of 
allocation of 
discrete tax 
items)_              _0.37_           _(0.49_ _)_       _0.51_           _(0.71_ _)_ 
_Total diluted 
adjusted EPS 
(non-GAAP 
measure)_       _$_  _0.47_      _$_  _(0.08_ _)_  _$_ _(0.14_ _)_  _$_  _(1.03_ _)_ 
 
Restructuring and DN Now transformation expenses relate to the business transformation plan focused on driving connected commerce, finance, sales and operational excellence, 
business integration and global workforce alignment as well as third-party costs of the DN Now transformation program. Legal and deal expenses primarily related to third-party 
expense and fees paid by the company for the ongoing obligations related to prior regulatory settlements, including the cost of acquisition and real estate tax in connection with 
the squeeze-out proceedings and related expenses. The acquisition integration expenses primarily relate to the integration of Wincor Nixdorf. The Wincor Nixdorf purchase accounting 
adjustments relate to intangible asset charges as management believes that this is useful information to investors by highlighting the impact of the acquisition of Wincor Nixdorf on 
the company's operations. The divestitures and fixed asset sale relates to the liquidation and divestitures of Eurasia non-core businesses, the sale of Kony, Inc. and Venezuela 
business in 2019 as well as the sale of a North America building in 2018. The inventory gain/charge relates to the company's re-assessment of primarily finished goods and service 
parts due to contract cancellations and excess and obsolete inventory due to streamlining the company's product portfolio and optimizing its manufacturing footprint. Other includes 
executive severance, amounts related to the Brazil indirect tax matter, certain non-cash balance sheet adjustments in Brazil, Hong Kong, Canada and Poland as well as the German 
pension adjustment. 
 
_4. Free cash flow/(use) is calculated as follows (Dollars in millions):_ 
 
                                                    *YTD              *YTD 
             *Q4 2019*         *Q4 2018*        12/31/2019*        12/31/2018* 
_Net 
cash 
provided 
(used) 
by 
operatin 
g 
activiti 
es (GAAP 
measure) 
_         _$_  _128.4_      _$_  _268.0_      _$_  _135.8_      _$_  _(104.1_ _)_ 
_Capital 
expendit 
ures 
(GAAP 
measure) 
_              _(12.7_ _)_       _(18.0_ _)_       _(42.9_ _)_        _(58.5_ _)_ 
_Free 
cash 
flow/(us 
e) 
(non-GAA 
P 
measure) 
_         _$_  _115.7_      _$_  _250.0_      _$_   _92.9_      _$_  _(162.6_ _)_ 
 
_We define free cash flow (use) as net cash used by operating activities less capital expenditures. We consider free cash flow (use) to be a liquidity measure that provides useful 
information to management and investors about the amount of cash generated by the business that, after the purchase of property and equipment, can be used for debt servicing, 
strategic opportunities, including investing in the business, making strategic acquisitions, strengthening the balance sheet and paying dividends._ 
 
_5. Net debt is calculated as follows (Dollars in millions):_ 
 
              *12/31/2019*                  *12/31/2018* 
_Cash 
, 
cash 
equiv 
alent 
s, 
restr 
icted 
cash 
and 
short 
-term 
inves 
tment 
s 
(GAAP 
measu 
re)_  _$_         _290.9_           _$_         _491.9_ 
_Cash 
inclu 
ded 
in 
asset 
s 
held 
for 
sale_              _97.2_                         _7.3_ 
_Debt 
instr 
ument 
s_             _(2,141.2_ _)_                _(2,239.5_ _)_ 
_Net 
debt 
(non- 
GAAP 
measu 
re)_  _$_      _(1,753.1_ _)_       _$_      _(1,740.3_ _)_ 
 
_The company's management believes that given the significant cash, cash equivalents, restricted cash and short-term investments on its balance sheet that net cash against 
outstanding debt is a meaningful net debt calculation. More than 90% of the company's cash, cash equivalents, restricted cash and short-term investments reside in international tax 
jurisdictions for all periods presented. 
### 
PR_20-3971_ 
 
2020-02-11 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
Language: English 
Company:  Diebold Nixdorf, Incorporated 
          5995 Mayfair Road 
          44720 North Canton, OH 
          United States 
Internet: www.dieboldnixdorf.com 
 
End of News DGAP News Service 
 
972681 2020-02-11 
 
 

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February 11, 2020 07:37 ET (12:37 GMT)

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