Comparison of Actual and Forecast Course of Business.

Net sales and operating profit exceed guidance by substantial margins.

Against the backdrop of continuing realignment and restructuring efforts, Wincor Nixdorf looked ahead to fiscal 2015/2016 with confidence, the ambition being to achieve a turnaround in its business performance. While net sales in fiscal 2014/2015 had fallen just short of the figure recorded in the preceding year (2014/2015: €2,427 million), the outlook for the 2015/2016 financial year pointed to slight growth. EBITA before non-recurring items was expected to expand to €150 million (2014/2015: €102 million) and EBITA after non-recurring items (excluding transaction expenses) to €110 million (2014/2015: €22 million). Non-recurring items (costs attributable to the restructuring program) were initially estimated at €40 million. Ultimately, we managed to exceed by a significant margin our guidance for net sales and EBITA issued at the end of fiscal 2014/2015.

Our outlook was revised upward on several occasions over the course of the financial year. As part of our most recent guidance, issued with the interim report for the first nine months of fiscal 2015/2016, we projected growth in net sales of around 6% for the annual period and operating profit before non-recurring items (excluding transaction expenses) of €190 million in total.

Supported by determined efforts to drive our transformation activities forward, we managed to rein back costs, particularly in our Hardware and Services business; in doing so, we also improved our operating profit. In addition, positive one-time effects relating to M&A activities more than offset lower than budgeted one-off expenses for restructuring measures associated with the Delta program.

The Delta program also took effect much faster than originally projected as we moved forward in the fiscal year; this had a positive impact on operating profit. What is more, net sales generated by Wincor Nixdorf were boosted in particular by a strong Hardware business within the retail segment.

At the end of fiscal 2015/2016 net sales stood at €2,579 million (2014/2015: €2,427 million), which corresponds to growth of 6%. Operating profit before non-recurring items (excluding transaction expenses) amounted to €194 million (2014/2015: €102 million).

Operating profit after non-recurring items (excluding transaction expenses of €54 million) totaled €198 million in fiscal 2015/2016 (2014/2015: €22 million). This includes positive one-time effects of €4 million attributable to the Delta program described in the "Objectives and Strategy" section; they are the net result of €20 million in costs associated with the restructuring program and €24 million in positive income contributions from M&A activities.

After non-recurring items and transaction costs, operating profit stood at €144 million (2014/2015: €22 million).

Net Sales History.

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Net Sales History (bar chart) Net Sales History (bar chart)

EBITA History.

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EBITA History (bar chart) EBITA History (bar chart)