PADERBORN, Germany — Wincor Nixdorf AG has beaten its forecasts once again, closing its 2003/2004 fiscal year to September 30, 2004 with new record figures, according to a news release.
Group operating profit (EBITA) increased 12 percent to 116 million euros (EUR 104 million last time). Net sales were up 9 percent at EUR 1,576 million (EUR 1,440 million). After adjusting out the effect of exchange rate fluctuations between the euro and the US dollar, net sales actually rose by 12 percent.
President and CEO Karl-Heinz Stiller commented, "The figures for the fiscal year just ended provide the best evidence that we are on the right course with our market strategy and that we're capable of opening up new areas of growth."
Profit before interest, tax, depreciation and amortization (EBITDA) rose 13 percent to EUR 143 million, from EUR 126 million the previous year. Final net profit for the year grew to EUR 44 million, from EUR 14 million a year earlier. This unusually large increase was due to the disappearance of scheduled goodwill amortization, a result of the company's demerger (carve-out) from the Siemens Group in 1999. The more comparable profit figure is cash net income which increased 17 percent to EUR 61 million, from EUR 52 million. The company also grew its operating cash flow by 13 percent to EUR 122 million, thereby reducing its net debt to EUR 234 million.
These figures mean Wincor Nixdorf has beaten its net sales and operating profit (EBITA) forecasts published in July 2004. At the time, the company assumed net sales would rise by 8 percent and EBITA by 10 percent.
The company will be providing final audited accounts and notes to the accounts for fiscal 2003/2004 plus information on current business performance at its results conference on December 13, 2004.
