DGAP Zulassungsfolgepflichtmitteilung: Diebold Nixdorf, Incorporated / Drittstaatveröffentlichung nach § 30e Abs. 1, Nr. 2 WpHG
UNITED STATES (Exact name of registrant as specified in its charter) Ohio 1-4879 34-0183970 (State or other jurisdiction 5995 Mayfair Road, P.O. Box 3077, (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (330) 490-4000 Not Applicable Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of
the following provisions: ? Item 2.02 Results of Operations and Financial Condition On October 31, 2017, Diebold Nixdorf, Incorporated (the 'Company') issued a
news release announcing its results for the third quarter of 2017. The news
release is attached hereto as Exhibit 99.1 and is incorporated herein by
reference. Item 9.01 Financial Statements and Exhibits (d) Exhibits. Exhibit ?
SIGNATURES Diebold Nixdorf, Incorporated ? Exhibit 99.1 pressrelease FOR IMMEDIATE RELEASE: DIEBOLD NIXDORF REPORTS 2017 THIRD QUARTER FINANCIAL RESULTS * GAAP revenue of $1.1 billion * GAAP EPS from continuing operations was a loss of $0.47, or earnings of $0.58 on a non-GAAP basis * GAAP operating profit was a loss of $7.6 million, or (0.7)% operating margin; non-GAAP operating profit was $82.4 million, or 7.3% operating margin * Net cash used by continuing operating activities was $49.5 million, an increase in use of $62.9 million from the prior-year period; free cash use was $64.8 million, an increase in use of $65.6 million from the prior-year period * Company updates 2017 guidance NORTH CANTON, Ohio - Diebold Nixdorf today reported its third quarter 2017 financial results. 'We are encouraged to see our integration and transformation achievements begin to translate into meaningful cost synergies, as improved earnings during the quarter were driven by a combination of cost actions as well as a lower tax rate,' said Andy W. Mattes, president and chief executive officer, Diebold Nixdorf. 'While there are many positive developments in our business, our 'top line' remained under pressure as the banking business is increasingly driven by large, complex projects that take longer to complete and generate revenue. As a result, while we expect profits and earnings per share to be at the upper end of our previous guidance for 2017, we have a lower revenue outlook.' Mattes continued, 'We continue to make tangible progress in transforming to a services-led, software-enabled company. During the quarter, we signed services contracts valued at more than $300 million, and on a year-to-date basis our renewal rate is close to 100 percent. In software, we delivered our strongest quarter since completing the acquisition of Wincor Nixdorf. Also, we continue to build momentum in delivering new innovation for customers, recently launching new offerings in 'managed mobility', ATM as a service and the new Vynamic software suite -- the first platform to power connected commerce across the financial services and retail industries. While significant work remains, we see terrific opportunities to leverage our scale and advance our industry leadership, enabling the company to create greater value moving forward.' 2017 Third Quarter Business Highlights * Signed a new, five-year managed services agreement with a large global financial institution for remote management and monitoring of more than 5,000 ATMs across the U.S. and U.K. * Won a new contract to install software licenses for 6,400 ATMs at US Bank and renewed the services agreement for another four years * Significantly expanded our scope of work and value in a new $54 million contract win with Banco do Brazil * Awarded a new services contract worth $40 million with a leading independent ATM deployer in the U.S. * Renewed a $36 million managed services contract with HSH Nordbank in Germany and a $30 million contract with Geldservices Netherlands * Won a new store lifecycle management and point-of-sale contract worth nearly $10 million with a global clothing retailer expanding its presence in Russia * Secured an exclusive contract with Bankomat, Sweden's largest ATM deployer, to automate all cash deposit and withdrawal activities across its network of 1,600 machines 1 of 11 ? Financial Results of Operations and Lines of Business On Aug. 15, 2016, the company completed the acquisition of Wincor Nixdorf and, as a result, comparisons to prior periods may be impacted by this acquisition. Financial results include acquisition-related items that may impact GAAP results. Revenue Summary by Reportable Segments, Geographic Regions and Solutions - Unaudited Three months ended September 30, 2017 compared to September 30, 2016
(Dollars in millions) Three Months Ended
September 30, Software 119.8 Systems 397.0 Geographic regions AP 149.4 Net sales $ 1,122.7 Solutions Retail 284.9 Net sales $ 1,122.7 (1) - The Company calculates constant currency by translating the prior-year period results at the current year exchange rate. Three months ended September 30, 2017 compared to pro forma September 30, 2016 (Dollars in millions) Three Months Ended
September 30, Geographic regions Solutions 2 of 11 ? Nine months ended September 30, 2017 compared to September 30, 2016
(Dollars in millions) Nine Months Ended
September 30, Software 337.9 Systems 1,262.2 Net sales $ 3,359.4 Geographic regions AP 450.0 Net sales $ 3,359.4 Solutions Retail 858.1 Net sales $ 3,359.4 (1) - The Company calculates constant currency by translating the prior-year period results at the current year exchange rate. Nine months ended September 30, 2017 compared to pro forma September 30, 2016 (Dollars in millions) Nine Months Ended
September 30, Geographic regions Solutions 3 of 11 ? Full-year 2017 outlook(1) Previous guidance Current guidance (1) - The company expects a non-GAAP effective tax rate to be around 20%
for the full year. With respect to the company's non-GAAP tax rate outlook
for 2017, the company is not providing the most directly comparable GAAP
financial measure and, with respect to the company's non-GAAP tax rate and
adjusted EBITDA outlook for 2017, the company is not providing
corresponding reconciliations 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 exclude the future impact of restructuring actions, net
non-routine items, acquisition, divestiture and integration related
expenses and purchase accounting fair value adjustments. These reconciling
items are uncertain, depend on various factors and could significantly
impact, either individually or in the aggregate, our future period tax rate
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. About Diebold Nixdorf Diebold Nixdorf has a presence in more than 130 countries with approximately 24,000 employees worldwide. The organization maintains corporate offices in North Canton, Ohio, USA and Paderborn, Germany. Shares are traded on the New York and Frankfurt Stock Exchanges under the symbol 'DBD'. Visit www.DieboldNixdorf.com for more information. 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 4 of 11 ? 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 the issuance of our 8.5% senior notes due 2024. For more information, please refer to the section, 'Notes for Non-GAAP Measures'.
Forward-Looking Statements 5 of 11 ? DIEBOLD NIXDORF, INCORPORATED AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED (IN MILLIONS, EXCEPT EARNINGS PER SHARE) Q3 2017 Q3 2016 YTD 9/30/2017 YTD 9/30/2016
Net sales Systems 397.0 Total 1,122.7 Cost of sales Systems 328.0 Total 881.7 Gross profit 241.0 Gross margin 21.5 % 20.1 % 21.5 % 23.7 % Operating expenses Selling and administrative expense 208.8
253.5 Research, development and engineering expense 34.2
31.3 Impairment of assets - (Gain) loss on sale of assets, net 5.6
(0.5 ) (2.5 ) (0.2 ) Percent of net sales 22.1 % 28.9 % 24.0 % 27.7 %
Operating profit (loss) (7.6 ) (86.7 ) (86.3 ) (82.1 )
Operating margin (0.7 )% (8.8 )% (2.6 )% (4.0 )%
Other income (expense) Interest expense (27.7 ) (32.4 ) (90.7 ) (68.2 )
Foreign exchange gain (loss), net 3.2
2.0 Total other income (expense) (21.7 ) (29.3 ) (77.7 ) (49.7 )
Income (loss) from continuing operations before taxes (29.3 ) (116.0 )
(164.0 ) (131.8 ) Net income (loss) (28.8 ) (101.8 ) (104.6 ) 46.4 Net income attributable to noncontrolling interests 6.6
0.5 Net income (loss) attributable to Diebold Nixdorf, Incorporated $ (35.4 ) $ (102.3 ) $ (124.8 ) $ 44.8 Basic weighted-average shares outstanding 75.5
70.9 Diluted weighted-average shares outstanding 75.5
70.9 Amounts attributable to Diebold Nixdorf, Incorporated
Loss before discontinued operations, net of tax $ (35.4 ) $ (97.7 ) $
(124.8 ) $ (98.9 ) Net income (loss) attributable to Diebold Nixdorf, Incorporated $ (35.4 ) $ (102.3 ) $ (124.8 ) $ 44.8 Basic earnings (loss) per share
Loss from continuing operations, net of tax $ (0.47 ) $ (1.38 ) $
(1.66 ) $ (1.48 ) Net income (loss) attributable to Diebold Nixdorf, Incorporated $ (0.47 ) $ (1.44 ) $ (1.66 ) $ 0.67 Diluted earnings (loss) per share
Loss from continuing operations, net of tax $ (0.47 ) $ (1.38 ) $
(1.66 ) $ (1.46 ) Net income (loss) attributable to Diebold Nixdorf, Incorporated $ (0.47 ) $ (1.44 ) $ (1.66 ) $ 0.66 Common dividends declared and paid per share $ 0.1000
$ 0.2875 6 of 11 ? DIEBOLD NIXDORF, INCORPORATED AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED (IN MILLIONS) 9/30/2017 12/31/2016 ASSETS Short-term investments 64.0 Trade receivables, less allowances for doubtful accounts 911.9 835.9 Inventories 807.8 Other current assets 411.9 Total current assets 2,576.3 Securities and other investments 92.5 94.7 Property, plant and equipment, net 367.7 387.0 Goodwill 1,105.9 Intangible assets, net 793.5 Other assets 425.5 Total assets $ 5,361.4 LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY
Current liabilities Accounts payable 579.1 Deferred revenue 369.4 Other current liabilities 737.9 Total current liabilities 1,758.3 Long-term debt 1,834.5 Long-term liabilities 671.2 Redeemable noncontrolling interests 485.7 44.1 Total Diebold Nixdorf, Incorporated shareholders' equity 572.2 591.4 Noncontrolling interests 39.5 Total equity 611.7 Total liabilities, redeemable noncontrolling interests and equity $
5,361.4 7 of 11 ? DIEBOLD NIXDORF, INCORPORATED AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED (IN MILLIONS) YTD 9/30/2017 YTD 9/30/2016 Income (loss) from discontinued operations, net of tax - 143.7 Income (loss) from continuing operations, net of tax (104.6 ) (97.3 )
Adjustments to reconcile net income (loss) to cash flow used by operating
activities: Other 27.8 Changes in certain assets and liabilities, net of the effects of
acquisitions Deferred revenue (43.3 ) (42.9 ) Net cash used by operating activities - continuing operations (235.3 )
(186.4 ) Capital expenditures (41.7 ) (23.9 ) Restricted cash (7.9 ) - Increase in certain other assets (12.3 ) 10.8 Net cash used by investing activities - continuing operations (78.7 )
(879.0 ) Net cash used by investing activities (78.7 ) (517.1 )
Cash flow from financing activities
Dividends paid (22.9 ) (57.0 ) Repurchase of common shares (4.8 ) (2.1 )
Other (16.0 ) (1.8 ) Effect of exchange rate changes on cash and cash equivalents 19.3 9.4 (Decrease) increase in cash and cash equivalents (272.0 ) 436.1 Add: Cash overdraft included in assets held for sale at beginning of period
- Cash and cash equivalents at the end of the period $ 380.7 $ 748.2 8 of 11 ?
Notes for Non-GAAP Measures 1. Profit/loss summary (Dollars in millions):
Q3 2017 Q3 2016 Legal / Acquisition and divestiture expense
- Acquisition integration - Wincor Nixdorf purchase accounting adjustments 9.6
22.9 Other - Non-routine expenses, net 9.6 Non-GAAP Results $ 1,132.3
YTD 2017 YTD 2016 Impairment - Legal / Acquisition and divestiture expense
- Acquisition integration - Wincor Nixdorf purchase accounting adjustments 30.4
68.7 Other - Non-routine expenses, net 30.4 Non-GAAP Results $ 3,389.8 Restructuring expenses relate to the DN2020 business transformation plan focused on driving connected commerce, finance, sales and operational excellence, business integration, culture and talent, and include the company's legacy multi-year realignment program. Non-routine income/expense relate to non-cash impairments primarily associated with legacy Diebold software, legal, acquisition and divestiture expenses primarily related to the mark-to-mark impact on Wincor Nixdorf stock options and fees paid by the company in connection with ongoing obligations related to prior regulatory settlements, including the cost of the independent monitor, acquisition, integration and divestiture expenses. The Wincor Nixdorf purchase accounting adjustments relate to the valuation of deferred revenue, inventory and 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. Other includes the gains from divestitures and ongoing interest charges related to the Brazil indirect tax matter. 9 of 11 ? 2. Reconciliation of GAAP net income (loss) to EBITDA and Adjusted EBITDA measures (Dollars in millions): Q3 2017 Q3 2016 YTD 9/30/2017 YTD 9/30/2016 Net income (loss) $ (28.8 ) $ (101.8 ) $ (104.6 ) $ 46.4 Income tax benefit (0.5 ) (18.8 ) (59.4 ) (34.5 )
Interest income (4.3 ) (5.3 ) (15.8 ) (16.5 )
Interest expense 27.7 Depreciation and amortization 68.8
43.4 EBITDA 62.9 Income from discontinued operations, net of tax -
4.6 Foreign exchange (gain) loss, net (3.2 ) (2.0 ) 4.5 1.6 Miscellaneous, net 1.5 Non-routine expenses, net 37.8 Adjusted EBITDA $ 124.5 Adjusted EBITDA % revenue 11.0 % 7.8 % 8.1 % 7.7 % We define EBITDA as net income (loss) excluding income tax benefit, net interest, and depreciation and amortization expense. We define Adjusted EBITDA as EBITDA before the effect of the following items: income from discontinued operations net of tax, share-based compensation, foreign exchange (gain) loss net, miscellaneous net, restructuring expense, 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 $34.9 million and $99.5 million, respectively, from non-routine expenses, net to the depreciation and amortization caption in the Adjusted EBITDA reconciliation for the three- and nine-month periods ended September 30, 2017. This represents the reconciliation between the amounts presented in note 1 and Adjusted EBITDA. Miscellaneous net primarily consists of the equity and earnings of investees. 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 income 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:
Q3 2017 Q3 2016 YTD 9/30/2017 YTD 9/30/2016
Total diluted EPS from the income (loss) from continuing operations, net of
tax (GAAP measure) $ (0.47 ) $ (1.38 ) $ (1.65 ) $ (1.46 )
Restructuring 0.23 Non-routine (income)/expense: Impairment - Legal / Acquisition and divestiture expense 0.08
1.06 Acquisition integration 0.26 Acquisition related hedging (income)/expense -
0.05 Other 0.01 Total non-routine (income)/expense 0.96
1.99 Tax impact (inclusive of allocation of discrete tax items) (0.14 )
(0.37 ) (0.96 ) (0.77 ) EPS (non-GAAP) - discontinued operations $ -
$ - Restructuring expenses relate to the DN2020 business transformation plan focused on driving connected commerce, finance, sales and operational excellence, business integration, culture and talent, and include the company's legacy multi-year realignment program. Non-routine income/expense relate to non-cash impairments primarily associated with legacy Diebold software, legal, acquisition and divestiture expenses primarily related to the mark-to-mark impact on Wincor Nixdorf stock options and fees paid by the company in connection with ongoing obligations related to prior regulatory settlements, including the cost of the independent monitor, acquisition, integration and divestiture expenses, including incremental interest related to the debt incurred and fair value of foreign currency option contracts prior to closing the acquisition of Wincor Nixdorf. The Wincor Nixdorf purchase accounting adjustments relate to the valuation of deferred revenue, inventory and 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. Other includes the ongoing interest charges related to the Brazil indirect tax matter. 10 of 11 ? 4. Free cash flow use from continuing operations is calculated as follows (Dollars in millions):
Q3 2017 Q3 2016 YTD 9/30/2017 YTD 9/30/2016
Net cash used by operating activities (GAAP measure) $ (49.5 ) $ 13.4
$ (235.3 ) $ (186.4 ) 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):
9/30/2017 12/31/2016 9/30/2016 Debt instruments (1,906.4 ) (1,798.3 ) (2,058.9 ) Net debt (non-GAAP measure) $ (1,461.7 ) $ (1,081.5 ) $ (1,270.8 ) The company's management believes that given the significant cash, cash equivalents and other investments on its balance sheet that net cash against outstanding debt is a meaningful net debt calculation. More than 85% of the company's cash, cash equivalents and short-term investments reside in international tax jurisdictions for the current period. ### 11 of 11
31.10.2017 Die DGAP Distributionsservices umfassen gesetzliche Meldepflichten, Corporate News/Finanznachrichten und Pressemitteilungen. |
Sprache: | Deutsch |
Unternehmen: | Diebold Nixdorf, Incorporated |
5995 Mayfair Road | |
44720 North Canton, OH | |
Vereinigte Staaten von Amerika | |
Internet: | www.dieboldnixdorf.com |
Ende der Mitteilung | DGAP News-Service |
623927 31.10.2017