II. Macroeconomic Risks


Any further decline in the macroeconomic situation could present significant risks to the future results of the Wincor Nixdorf Group. Recent changes in the financial markets in the wake of the U.S. mortgage crisis could create an even greater impact. There is a risk, too, in the form of high prices for energy and raw materials, with further increases possible. Changes in individual countries’ tax and customs legislation may also have a negative impact on our business. In addition, we perceive an increased risk to our customers and ourselves from unanticipated events such as natural disasters and terrorist attacks. However, at present, we do not believe that the macroeconomic situation poses a risk to the future existence of the Wincor Nixdorf Group.

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