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OFFON

DIEBOLD NIXDORF, INCORPORATED

(DBD)
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DGAP-CMS: Diebold Nixdorf, Incorporated: Release -2-

05/10/2021 | 08:50am EDT

effort. This measure primarily excludes the future impact of changes in cash of assets held for sale, cash used for M&A activities and the settlement of foreign exchange derivative instruments. These reconciling items are uncertain, depend on various factors and could significantly impact, either individually or in the aggregate, net cash provided (used) by operating activities calculated and presented in accordance with GAAP. Please see "Non-GAAP Financial Measures and Other Information" for additional information regarding our use of non-GAAP financial measures. ^4 - ROIC is defined as tax-effected adjusted operating profit (NOPAT), utilizing an estimated 30% effective tax rate, divided by average invested capital for the period. ^5 - See note 1 below for GAAP to Non-GAAP adjustments to gross profit; operating expenses, which include selling and administrative expense and research, development and engineering expense; note 2 for adjusted EBITDA; and note 3 for adjusted net income/loss and adjusted EPS. ^6 - Represents Diluted earnings/(loss) per share attributable to Diebold Nixdorf, Incorporated. Financial Results of Operations and Segments Revenue Summary by Reportable Segments - Unaudited Three months ended March 31, 2021 compared to March 31, 2020

                                               Three Months Ended 
                                               March 31, 2021 
(USD in millions)                                2021             2020               % Change            % Change in CC^7 
Segments 
Eurasia Banking 
Services                                       USD 161.5          USD 179.2            (9.9)               (15.6) 
Products                                       131.6            98.3               33.9                25.5 
Software                                       34.7             33.0               5.2                 (1.7) 
Total Eurasia Banking                          327.8            310.5              5.6                 (1.1) 
 
Americas Banking 
Services                                       206.3            217.0              (4.9)               (3.5) 
Products                                       70.5             93.2               (24.4)              (22.4) 
Software                                       34.9             34.5               1.2                 2.3 
Total Americas Banking                         311.7            344.7              (9.6)               (8.0) 
 
Retail 
Services                                       114.6            107.6              6.5                 (1.6) 
Products                                       143.7            109.0              31.8                23.7 
Software                                       46.1             38.9               18.5                9.8 
Total Retail                                   304.4            255.5              19.1                10.8 
 
Total net sales                                USD 943.9          USD 910.7            3.6                 (0.1) 
 
^7 - The company calculates constant currency by translating the prior-year period results at the current year exchange 
rate. Three months ended March 31, 2021 compared to March 31, 2020 
                               Three Months Ended 
                               March 31, 2021              March 31, 2020              Change 
(USD in millions)                GAAP          Non-GAAP^8    GAAP          Non-GAAP^8    GAAP             Non-GAAP 
Services                       USD 482.4       USD 482.4       USD 503.8       USD 503.8       USD (21.4)         USD (21.4) 
Products                       345.8         345.8         300.5         300.5         45.3             45.3 
Software                       115.7         115.7         106.4         106.4         9.3              9.3 
Total net sales                USD 943.9       USD 943.9       USD 910.7       USD 910.7       USD 33.2           USD 33.2 
 
Services                       USD 142.3       USD 140.7       USD 117.9       USD 136.2       USD 24.4           USD 4.5 
Products^9                     74.6          75.1          64.2          71.2          10.4             3.9 
Software^9                     56.3          57.6          44.7          46.7          11.6             10.9 
Total gross profit             USD 273.2       USD 273.4       USD 226.8       USD 254.1       USD 46.4           USD 19.3 
 
Services                       29.5      %   29.2      %   23.4      %   27.0      %   610        bps   220        bps 
Products                       21.6      %   21.7      %   21.4      %   23.7      %   20         bps   (200)      bps 
Software                       48.7      %   49.8      %   42.0      %   43.9      %   670        bps   590        bps 
Total gross margin             28.9      %   29.0      %   24.9      %   27.9      %   400        bps   110        bps 
 
Total operating expenses       USD 237.0       USD 194.4       USD 252.8       USD 191.1       USD (15.8)         USD 3.3 
Operating profit               USD 36.2        USD 79.0        USD (26.0)      USD 63.0        USD 62.2           USD 16.0 
Operating margin               3.8       %   8.4       %   (2.9)     %   6.9       %   670        bps   150        bps 
 
Adjusted EBITDA                              USD 100.3                     USD 89.5                         USD 10.8 
Adjusted EBITDA margin                       10.6      %                 9.8       %                    80         bps 
 
^8 - See note 1 below for GAAP to Non-GAAP adjustments to gross profit; operating expenses, which include selling and 
administrative expense and research, development and engineering expense and note 2 for adjusted EBITDA. 
^9 - Certain costs of sales for the three months ended March 31, 2020 have been reclassified from software to 
products. More information on Diebold Nixdorf's quarterly earnings is available on its Investor Relations website. Gerrard Schmid, president and chief executive officer, and Jeffrey Rutherford, chief financial officer, will discuss the company's financial performance during a conference call today at 8:30 a.m. (ET). Both the presentation and access to the call / webcast are available at http://www.dieboldnixdorf.com/earnings. The replay of the webcast can be accessed on the web site for up to three months after the call. About Diebold Nixdorf Diebold Nixdorf, Incorporated (NYSE: DBD) is a world leader in enabling connected commerce. We automate, digitize and transform the way people bank and shop. As a partner to the majority of the world's top 100 financial institutions and top 25 global retailers, our integrated solutions connect digital and physical channels conveniently, securely and efficiently for millions of consumers each day. The company has a presence in more than 100 countries with approximately 22,000 employees worldwide. Visit www.DieboldNixdorf.com for more information. Twitter: @DieboldNixdorf LinkedIn: www.linkedin.com/company/diebold Facebook: www.facebook.com/DieboldNixdorf YouTube: www.youtube.com/dieboldnixdorf Non-GAAP Financial Measures and Other Information To supplement our 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 debt, EBITDA, adjusted EBITDA and constant currency results. The company calculates constant currency by translating the prior year results at current year exchange rates. The company uses these non-GAAP financial measures, in addition to GAAP financial measures, to evaluate our operating and financial performance and to compare such performance to that of prior periods and to the performance of our 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 our operating and financial performance and trends in our 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. We provide EBITDA and Adjusted EBITDA because we believe that investors and securities analysts will find EBITDA and adjusted EBITDA to be useful measures for evaluating our operating performance and comparing our operating performance with that of similar companies that have different capital structures and for evaluating our ability to meet our future debt service, capital expenditures and working capital requirements. We are also providing EBITDA and adjusted EBITDA in light of our credit agreement and the issuance of our secured and unsecured senior notes. We consider free cash flow (use) to be a liquidity measure that provides useful information to management and investors about the amount of cash generated by the business that, after the purchase of property and equipment and changes in cash of assets held for sale and the use of cash for M&A activities, and excluding the use of cash for the settlement of foreign exchange derivative instruments, can be used for debt servicing, strategic opportunities, including investing in the business, making strategic acquisitions, strengthening the balance sheet and paying dividends. For more information, please refer to the section, "Notes for Non-GAAP Measures." Forward-Looking Statements This press release contains statements that are not historical information and are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding potential impact of the ongoing coronavirus (COVID-19) pandemic, anticipated revenue, future liquidity and financial position. 

(MORE TO FOLLOW) Dow Jones Newswires

May 10, 2021 08:49 ET (12:49 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
DIEBOLD NIXDORF, INCORPORATED -0.07% 13.81 Delayed Quote.29.55%
DJ INDUSTRIAL -0.25% 34393.75 Delayed Quote.12.65%
FACEBOOK INC 1.66% 336.77 Delayed Quote.23.29%
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Financials (USD)
Sales 2021 4 098 M - -
Net income 2021 55,6 M - -
Net Debt 2021 1 742 M - -
P/E ratio 2021 19,4x
Yield 2021 -
Capitalization 1 080 M 1 080 M -
EV / Sales 2021 0,69x
EV / Sales 2022 0,63x
Nbr of Employees 22 000
Free-Float 76,6%
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Technical analysis trends DIEBOLD NIXDORF, INCORPORATED
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TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 4
Average target price 21,00 $
Last Close Price 13,81 $
Spread / Highest target 66,5%
Spread / Average Target 52,1%
Spread / Lowest Target 44,8%
EPS Revisions
Managers and Directors
NameTitle
Gerrard B. Schmid President, Chief Executive Officer & Director
Jeffrey L. Rutherford Chief Financial Officer & Senior Vice President
Gary G. Greenfield Non-Executive Chairman
Olaf Heyden Chief Operating Officer & Senior Vice President
Elizabeth C. Radigan Vice President, Chief Ethics & Compliance Officer
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