PADERBORN, Germany -- Wincor Nixdorf grew its net sales by 7 percent to €1.4 billion (U.S. $1.7 billion) in fiscal 2002/03.
According to a news release, this is the fourth successive year since becoming an independent company that Wincor Nixdorf has increased its profit.
The revenue growth was generated from both the retail and banking businesses. The company made further progress in internationalizing its business, with foreign business now accounting for 62 percent of its earnings, according to the release.
Wincor Nixdorf added 365 employees in fiscal 2003, for a total of 4,983. Investment in research and development rose 5 percent to € 66.1 million (U.S. $82.8 million).
Wincor World, an annual IT showcase for the banking and retail sectors, continues in Paderborn through Feb. 5. Wincor Nixdorf is hosting 60 companies that are displaying their products, services and solutions, 10 more than at its 2003 event.
As well as viewing 400 exhibits, visitors from more than 50 countries are attending workshops, lectures and a symposium on the challenges faced by retailers and banks. In addition, the well-known European Retail Institute and the North-Rhine-Westphalian Trade and Labor Ministry are presenting their Retail Innovations Conference as part of the show.
