The Wincor Nixdorf Group increased net sales by 15% to €1,085 million in the first six months of fiscal 2006/2007 (previous year: €943 million). Adjusted for movements in the EUR/USD exchange rate, net sales grew by 18%.

Consolidated net sales for the second quarter amounted to €537 million. Recording a growth rate of 18% compared with the same period a year ago (€455 million), Wincor Nixdorf benefited from several large-scale banking projects, thus emulating its first-quarter performance.

The gross margin on net sales before carve-out charges stood at 27.5% in the first half of fiscal 2006/2007 (previous year: 28.3%), which corresponds to a year-on-year decline of 0.8 percentage points. This was attributable to the effects of business expansion in international growth markets and the prevailing pressure on prices associated with product-related business.

Research and development expenses rose by €5 million to €46 million in the period under review (previous year: €41 million), a 12% increase compared with the same period a year ago. The R&D ratio was 4.2% (previous year: 4.3%).

Calculated in relation to net sales, the selling, general and administration expense ratio fell by 1.1 percentage points to 14.9% in the reporting period (previous year: 16.0%). In total, selling, general and administration expenses amounted to €162 million (previous year: €151 million).

Earnings before interest, taxes and amortization of product know-how (EBITA) grew by 20% in the first six months of fiscal 2006/2007, thus climbing to €90 million (previous year: €75 million). The EBITA margin improved by 0.3 percentage points to 8.3% (previous year: 8.0%).

Profit for the first six months rose to €49 million and was thus €13 million, or 36%, higher than the figure posted for the same period a year ago (previous year: €36 million). Profit for the period before carve-out charges grew by 26% to €54 million (previous year: €43 million).