Acquisitions and New Companies.
We continued to expand globally in the period under review, both through corporate acquisitions and newly established companies. In Canada, we acquired the majority interest in Connections Canada Inc. (CCi), an enterprise specializing in information technology tailored to the requirements of the retail industry. In the Philippines, we completed the acquisition of a business unit previously owned by Siemens Inc., thereby further strengthening our presence in the Asia-Pacific region. This unit operates in the areas of Banking and Retail.
Alongside the above-mentioned acquisitions, we established a number of separate subsidiaries over the course of the fiscal year just ended. A case in point is our newly incorporated company in Australia, focusing mainly on business within the Banking segment. In establishing a new enterprise in Ukraine, we have paved the way for enhanced sales activities in Eastern Europe.
All changes affecting the composition of the consolidated Group are explained in the notes to the Group financial statements under the section “Consolidation Group.”
Capital Expenditures.
In the year under review, Wincor Nixdorf adjusted the level of capital expenditure in line with the performance of the business. We invested in capital projects to increase capacity, streamline Company processes (and therefore boost productivity), promote innovation and enhance the quality of our hardware, software and services.
In fiscal 2008/2009, we invested €64 million (2007/2008: €72 million) primarily in software and data processing systems, specialist tools and production facilities, other fixed assets, office equipment and reworkable service parts. The 11% decline in investment was mainly achieved by a normalized spending on the Outsourcing (Glossary) business in Germany, although this area nevertheless attracted €13 million and remained a key focus of our investment activity.
Capital Expenditures History. €m
