Wincor Nixdorf AG remains on a trajectory of growth after the first six months of the current fiscal year. The company has been reaping the rewards of its transformation program, which is being implemented in a determined manner. Net sales increased by 8%, taking the figure to €1,309 million (previous year: €1,208 million). Earnings before interest, taxes, and amortization (EBITA – operating profit) before non-recurring items grew by 96% to €108 million (€55 million). After non-recurring items (restructuring expenses partially offset by positive contributions from M&A activities), EBITA rose by 119% to €103 million (€47 million). "Our transformation program has exceeded expectations. We have been advancing at a faster rate than anticipated, while the costs incurred have been lower than projected," said CEO & President Eckard Heidloff in summarizing the company's performance. Profit for the period, which takes into account transaction costs incurred to date in respect of the business combination between Diebold and Wincor Nixdorf, increased by 103% to €63 million (€31 million). In line with the improved forecast issued at the end of the first quarter, Wincor Nixdorf anticipates that its operating profit for the current fiscal year 2015/2016 will lie in the range of €160-190 million before exceptional items. Having kept its revenue guidance unchanged after the first quarter, Wincor Nixdorf has now upgraded its outlook and anticipates a moderate increase in net sales (previously: slightly up on prior-year figure).

The scale of operating profit anticipated by Wincor Nixdorf for the current fiscal year 2015/2016 as a whole is comparable to the high levels of profitability recorded prior to the financial crisis. Among the key drivers were positive contributions to earnings from the restructuring program, primarily in the form of cost streamlining within the Hardware and Services business.

In addition, the company recorded restructuring expenses as exceptional items (costed at €30 million) and positive effects from Wincor Nixdorf's M&A activities (around €30-60 million).
Wincor Nixdorf's outlook for operating profit in fiscal 2015/2016 does not include transaction costs of around €50 million in connection with the business combination agreement with Diebold.

Plans relating to the takeover of Wincor Nixdorf by Diebold and the business combination of the two companies have been progressing. As announced, the voluntary public takeover offer issued by Diebold for the period up to March 22, 2016, exceeded the minimum acceptance threshold of 67.6% of all existing Wincor Nixdorf ordinary shares (having accounted for treasury shares held by Wincor Nixdorf, this corresponds to approx. 75 percent of Wincor Nixdorf's current share capital furnished with voting rights in respect of the General Meeting of Shareholders). At the end of an additional acceptance period (April 12, 2016) relating to its voluntary public takeover offer, Diebold announced that it had achieved 69.9% of all existing Wincor Nixdorf shares. The offer remains subject to regulatory approval and is expected to close in the summer of 2016.

Net sales in Banking slightly down, Retail with growth in net sales
The Banking segment saw net sales fall by 1% to €778 million in the first six months of the fiscal year (€783 million). After non-recurring items, Banking segment EBITA for the first six months of the fiscal year reached €69 million; this figure includes €7 million in expenses from non-recurring items. Excluding expenses from non-recurring items, Banking segment EBITA rose to €76 million (€36 million), an increase of 111%.
Net sales generated in the Retail segment were lifted by 25% in the first half of the fiscal year, taking the figure to €531 million (€425 million). After factoring in income of €2 million associated with non-recurring items, EBITA for the Retail segment stood at €34 million. Eliminating expenses from non-recurring items, Retail segment EBITA ended the reporting period at €32 million (€19 million) – up 68%.

Growth in all regions after first six months
In Germany, net sales for the first half of the fiscal year rose by 2% to €282 million (€277 million), thus accounting for 22% (23%) of the Group's total net sales. In the second quarter, net sales in Germany stood at €127 million (€138 million), which corresponds to a downturn of 8%. At €613 million (€553 million), Europe (excluding Germany) saw a year-on-year increase in net sales of 11% in the first half of the current fiscal year. This region contributed the largest part of total net sales for the Group at 47% (46%). In the second quarter of the fiscal year, net sales in Europe (excluding Germany) were up 9% at €278 million (€254 million).
Asia/Pacific/Africa saw net sales expand to €239 million in the first six months of the current fiscal year (€234 million). This corresponds to a 2% increase on the prior-year figure. Asia/Pacific/Africa contributed a share of 18% (19%) to total net sales for the Group. In the second quarter of the fiscal year, net sales in the Asia/Pacific/Africa region fell by 10% to €103 million (€115 million). In U.S. dollars, the Americas recorded a 26% increase in net sales during the first half of the fiscal year. Translated into euros, this is equivalent to growth of 22% to €175 million (€144 million). As a result, the proportion of Group net sales generated in the Americas was 13% (12%). In the second quarter of the fiscal year, net sales in the region were up 21% at €74 million (€61 million).

Net sales up for Hardware and Software/Services
In the first half of the fiscal year, the Group managed to lift net sales attributable to Hardware business by 15% year on year to €578 million (€504 million). In the Software/Services business, net sales were up 4% at €731 million (€704 million).
The share of total net sales generated by the Hardware business rose to 44% (42%) in the period under review. Correspondingly, the proportion of total net sales from Software/Services fell to 56% (58%).