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Diebold Nixdorf, Inc (DBD) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

SEC Filings

DBD Quarterly Reports

Diebold Nixdorf, Inc

CIK: 28823 Ticker: DBD


Exhibit 99.1
dnlogo04.jpg
Press Release
Media contact:
Investor contact:
Mike Jacobsen, APR
Steve Virostek
+1 330 490 3796
+1 330 490 6319
michael.jacobsen@dieboldnixdorf.com    
steve.virostek@dieboldnixdorf.com

FOR IMMEDIATE RELEASE:
May 5, 2020

DIEBOLD NIXDORF REPORTS 2020 FIRST QUARTER FINANCIAL RESULTS
Company reports strong profitability and cash flow improvements while managing the early complexities of COVID-19

NORTH CANTON, Ohio - Diebold Nixdorf (NYSE:DBD) today reported its first quarter 2020 financial results.

Key highlights
Maintaining adequate liquidity and targeting break-even free cash flow for the full year
GAAP operating loss was $26.0 million, a 6.1% increase, while non-GAAP operating profit was $63.0 million, a 132.4% increase from the prior-year period attributable to effective execution of DN Now initiatives
Targeting incremental cost savings of $80 million - $100 million in addition to the company’s previously announced DN Now savings initiatives
Strong resiliency of operations during COVID-19 crisis and lockdowns

Gerrard Schmid, Diebold Nixdorf president and chief executive officer, said: "From the earliest stages of the COVID-19 crisis, our primary focus has been protecting the health and well-being of our employees while delivering value to our customers, a majority of whom are in essential industries. We have received strong validation from our clients as we keep their critical channels up and running. Our performance during the pandemic has fortified our status as a trusted technology partner with resilient operations."

Schmid continued, "For the quarter, we were pleased with our financial performance as we delivered stronger-than-expected orders, revenue in line with our expectations and continued year-over-year improvements in profitability and cash flow. Our DN Now initiatives -- centered on enhancing customer relationships, reducing costs and harvesting working capital -- are clearly yielding results and have made our business model much more resilient. We are leveraging the operational rigor developed over the past two years to implement incremental cost-savings actions that enable the company to target break-even free cash flow for the full year -- even under difficult scenarios. Additionally, we have taken steps to further strengthen our liquidity position to maintain financial flexibility during the crisis. I am confident that Diebold Nixdorf is well positioned to persevere in this environment and emerge as a stronger company."

Financial results compared with Q1 2019
Revenue of $910.7 million decreased 11.4%, in line with company expectations, reflecting headwinds of approximately $69 million from currency effects, divestitures and the COVID-19 impact
GAAP gross profit of $226.8 million decreased 7.8%; non-GAAP gross profit of $254.1 million improved 2.7%
GAAP gross margin improved 100 basis points to 24.9%; non-GAAP gross margin improved 380 basis points to 27.9%
Net loss of $93.4 million improved by 29.2%
Adjusted EBITDA of $89.5 million improved 37.5%; adjusted EBITDA margin improved 350 basis points to 9.8%
Net cash used by operating activities increased $22.8 million; free cash use improved 9.3% to $65 million
GAAP loss per share was $1.20 during the quarter, or a loss of $0.34 per share on a non-GAAP basis

Other business updates
Significant new wins include a number of new contracts with recurring revenue:
Signed a six-year managed services contract valued at more than $20 million with Bank99, the new bank of the Austrian Post established to service 99% of all people living in Austria.
Secured a new, five-year managed services contract with Delhaize, the second-largest food retailer in Belgium, for monitoring, help desk and incident follow-up.
Won two cash recycler and ATM deals valued at more than $30 million with Tecnologia Bancaria in Brazil and a top bank in Ecuador.
Signed a new contract encompassing technical safety equipment, software and maintenance services for approximately 1,500 quick-service restaurants in Germany.

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The following information was filed by Diebold Nixdorf, Inc (DBD) on Tuesday, May 5, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Diebold Nixdorf, Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Comprehensive Income (Loss) (Unaudited)
Condensed Consolidated Statements Of Comprehensive Income (Loss) Parentheticals
Condensed Consolidated Statements Of Operations (Unaudited)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) (Details)
Accumulated Other Comprehensive Income (Loss) (Tables)
Accumulated Other Comprehensive Income (Loss) Reclassification Adjustments (Details)
Acquisitions &Amp; Divestitures
Acquisitions &Amp; Divestitures (Details)
Basis Of Presentation
Benefit Plans
Benefit Plans (Details)
Benefit Plans (Tables)
Commitments And Contingencies
Commitments And Contingencies (Details)
Components Of Lease Expense (Details)
Debt
Debt (Details)
Debt (Tables)
Debt (Textuals) (Details)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (Details)
Derivative Instruments And Hedging Activities (Tables)
Derivative Instruments And Hedging Activities (Textuals) (Details)
Earning Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Equity
Equity (Details)
Equity (Tables)
Fair Value Of Assets And Liabilities
Fair Value Of Assets And Liabilities (Tables)
Fair Value Of Assets And Liabilities - Fair Value Measurements (Details)
Fair Value Of Assets And Liabilities - Summary Of Liabilities Recorded At Carrying Value (Details)
Goodwill And Other Assets
Goodwill And Other Assets (Details)
Goodwill And Other Assets (Tables)
Goodwill And Other Assets (Textuals) (Details)
Goodwill And Other Assets Schedule Of Intangible Assets (Details)
Guarantees And Product Warranties
Guarantees And Product Warranties (Details)
Guarantees And Product Warranties (Tables)
Income Taxes
Income Taxes (Details)
Inventories
Inventories (Details)
Inventories (Tables)
Investments
Investments (Details)
Investments (Tables)
Investments (Textuals) (Details)
Investments Allowance For Credit Losses - Summary Of Allowance For Credit Losses (Textuals) (Details)
Investments Finance Lease Receivables (Tables)
Investments Finance Lease Receivables - Minimum Lease Receivables Schedule (Details)
Investments Investments Finance Lease Receivables (Details)
Leases (Details)
Leases (Notes)
Leases (Tables)
Maturities Of Lease Liabilities (Details)
Redeemable Noncontrolling Interests
Redeemable Noncontrolling Interests (Details)
Redeemable Noncontrolling Interests (Tables)
Redeemable Noncontrolling Interests Redeemable Noncontrolling Interests (Textuals) (Details)
Restructuring
Restructuring (Tables)
Restructuring (Textuals) (Details)
Restructuring - Restructuring Charges By Segment (Details)
Restructuring - Restructuring Charges By Statement Of Income Account (Details)
Restructuring Reserve Activity (Details)
Segment Information
Segment Information (Tables)
Segment Information (Textuals) (Details)
Segment Information - (Details)
Segment Information - Revenue By Service/Product Solution (Details)
Segment Information Segment Information By Revenue Type (Details)
Share-Based Compensation
Share-Based Compensation (Tables)
Share-Based Compensation - Compensation Expense And Information On Non-Vested Shares (Details)
Share-Based Compensation - Stock Options (Details)
Supplemental Balance Sheet Information Related To Leases (Details)
Supplemental Cash Flow Information Related To Leases (Details)
Supplemental Guarantor Information
Supplemental Guarantor Information (Tables)
Supplemental Guarantor Information Supplemental Guarantor Information (Condensed Consolidating Balance Sheet) (Details)
Supplemental Guarantor Information Supplemental Guarantor Information (Condensed Consolidating Statement Of Cash Flows) (Details)
Supplemental Guarantor Information Supplemental Guarantor Information (Condensed Consolidating Statements Of Operations And Comprehensive Income (Loss)) (Details)
Ticker: DBD
CIK: 28823
Form Type: 10-Q Quarterly Report
Accession Number: 0000028823-20-000083
Submitted to the SEC: Tue May 05 2020 5:14:32 PM EST
Accepted by the SEC: Tue May 05 2020
Period: Tuesday, March 31, 2020
Industry: Calculating And Accounting Machines No Electronic Computers

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