DGAP-Adhoc: Diebold Nixdorf, Incorporated: Reports 2019 Fourth Quarter And Full-year Financial Results

2020. február 11., kedd, 13:03

DGAP-Ad-hoc: Diebold Nixdorf, Incorporated / Key word(s): Annual Results/Quarter Results

Diebold Nixdorf, Incorporated: Reports 2019 Fourth Quarter And Full-year Financial Results

11-Feb-2020 / 13:03 CET/CEST

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

February 11, 2020 - North Canton, Ohio, United States of America - Diebold Nixdorf, Incorporated (ISIN: US2536511031, the "Company") announced today its financial results for 2019.

- Q4 GAAP gross profit was $270.4 million, with GAAP gross margin expanding from 16.3% to 23.5% year-over-year; non-GAAP gross profit was $303.1 million, with non-GAAP gross margin increasing from 23.3% to 26.3% year-over-year

- 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 year-over-year 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

For 2020 through 2021, the Company increased its savings target from $400 million to $440 million.

Non-GAAP Financial Measures and Other Information

To supplement the Company"s 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 the Company"s operating and financial performance and to compare such performance to that of prior periods and to the performance of the Company"s 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 the Company"s operating and financial performance and trends in the Company"s 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. The Company provides EBITDA and adjusted EBITDA because the Company believes that investors and securities analysts will find EBITDA and adjusted EBITDA to be useful measures for evaluating the Company"s operating performance and comparing the Company"s operating performance with that of similar companies that have different capital structures and for evaluating the Company"s ability to meet the Company"s future debt service, capital expenditures and working capital requirements. The Company is also providing EBITDA and adjusted EBITDA in light of the Company"s credit agreement and 8.5% senior notes due 2024. For additional information regarding the Company"s use of non-GAAP financial measures, please refer to the Company"s financial statements as published under https://investors.dieboldnixdorf.com/.

North Canton, February 11, 2020

Diebold Nixdorf, Incorporated

Notifying Person:

Stephen A. Virostek

Vice President, Investor Relations

Telephone +1 (330) 490-6319

Facsimile +1 (330) 490-3794


Forward-Looking Statements

This ad hoc notice 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 former Diebold Nixdorf AG and the merger squeeze-out; the success of the Company"s new products, including the Company"s 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 the Company"s customer base and/or adversely affect the Company"s 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 ad hoc notice.

11-Feb-2020 CET/CEST 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
Phone: +1 330 490 6046
Fax: +1 330 490 4450
E-mail: elizabeth.radigan@dieboldnixdorf.com
Internet: www.dieboldnixdorf.com
ISIN: US2536511031
WKN: 856244
Listed: Regulated Market in Frankfurt; Regulated Unofficial Market in Berlin, Munich, Stuttgart, Tradegate Exchange; NYSE
EQS News ID: 972651

End of Announcement DGAP News Service

972651  11-Feb-2020 CET/CEST

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