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Diebold Nixdorf, Inc (DBD) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2020

Diebold Nixdorf, Inc

CIK: 28823 Ticker: DBD

Exhibit 99.1
dnlogo041.jpg
Press Release
Media contact:Investor contact:
Mike Jacobsen, APRSteve Virostek
+1 330 490 3796+1 330 490 6319
michael.jacobsen@dieboldnixdorf.com steve.virostek@dieboldnixdorf.com
FOR IMMEDIATE RELEASE:
July 30, 2020

DIEBOLD NIXDORF REPORTS 2020 SECOND QUARTER FINANCIAL RESULTS
Company delivers strong year-over-year improvements to profitability -- driven by continued execution of DN Now transformation initiatives and resiliency of the company’s business model

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

Key highlights
Reported record levels for quarterly non-GAAP gross margin, non-GAAP operating profit margin & adjusted EBITDA margin
Maintaining 2020 outlook for revenue and adjusted EBITDA, with improved outlook for free cash flow
Successful $1.1 billion debt refinancing in July materially extends maturities

Gerrard Schmid, Diebold Nixdorf president and chief executive officer, said: "Our second quarter financial results demonstrate the resiliency of our business during the COVID-19 pandemic as well as solid execution of our DN Now transformation initiatives. As the second quarter progressed, business activity picked up and the conversion rate to profitability was strong. For the quarter, GAAP operating margin expanded 170 basis points to 2.3% while non-GAAP operating margin increased 460 basis points to 11.0%. We are also pleased with the strong level of investor support for our recent refinancing, which further strengthened our balance sheet.

"While overall macroeconomic conditions remain uncertain, our execution and improving visibility enables the company to reiterate its 2020 outlook for revenue and adjusted EBITDA. Additionally, our outlook for net cash provided by operating activities and free cash flow has improved. Looking forward, we remain focused on operating margin expansion through our DN Now work streams, further optimizing our capital structure and continuing to differentiate our solutions to pursue growth opportunities."

Financial results compared with Q2 2019
Revenue of $890.5M decreased 22.6%, or $260M YoY, reflecting approximately $108M of net unplanned reductions primarily related to COVID-19 pandemic delays, net planned reductions of approximately $113M including previously concluded divestitures and deliberate reductions in low-margin business, and foreign currency headwinds of approximately $39M
GAAP operating profit increased 181% to $20.5M; non-GAAP operating profit improved 32.7% to $98.2M
Net loss of $23.1M improved by 58.2% YoY
Adjusted EBITDA of $122.4M improved 14.6%; adjusted EBITDA margin improved 440 basis points to 13.7% on a non-GAAP basis
Net cash used by operating activities increased $80M YoY to $90.8M; free cash use increased $57M to $73.3M primarily due to the effects of the COVID-19 pandemic
GAAP loss per share of $0.31 during the quarter improved versus the $0.66 loss per share in the prior year; on a non-GAAP basis, earnings of $0.38 per share improved versus $0.06 per share in the prior year

Other business updates
Made significant progress with next-generation DN Series ATMs including new orders with a top 10 and a top 25 financial institution in the United States. Also secured a new contract in Egypt for 350 DN Series ATMs plus remote monitoring and cash deposit software. Globally, DN Series certification projects nearly doubled since the beginning of the year to 475.
Continued to lead the Americas region in deposit automation technology with a $13 million contract for cash recycling ATMs and related services at one of the largest financial institutions in Latin America.
Signed a three-year product and managed services contract with A.S. Watson, the world’s largest international health and beauty retailer with over 15,700 stores across 25 markets, to support its digital transformation strategy.
Secured a new $17 million contract to deliver managed services, new point-of-sale and self-checkout solutions across several European countries with one of the world’s largest home furnishing retailers.
Extended a strategic relationship with Accenture to accelerate digital transformation and cloud migration activities.

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The following information was filed by Diebold Nixdorf, Inc (DBD) on Thursday, July 30, 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

Cover
Accumulated Other Comprehensive Income (Loss)
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) (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 - 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)
Subsequent Events
Subsequent Events (Details)
Supplemental Balance Sheet Information Related To Leases (Details)
Supplemental Cash Flow Information Related To Leases (Details)
Supplemental Guarantor Information
Supplemental Guarantor Information (Condensed Consolidating Balance Sheet) (Details)
Supplemental Guarantor Information (Condensed Consolidating Statement Of Cash Flows) (Details)
Supplemental Guarantor Information (Condensed Consolidating Statements Of Operations And Comprehensive Income (Loss)) (Details)
Supplemental Guarantor Information (Tables)

Material Contracts, Statements, Certifications & more

Diebold Nixdorf, Inc provided additional information to their SEC Filing as exhibits

Ticker: DBD
CIK: 28823
Form Type: 10-Q Quarterly Report
Accession Number: 0000028823-20-000140
Submitted to the SEC: Fri Jul 31 2020 12:51:48 PM EST
Accepted by the SEC: Fri Jul 31 2020
Period: Tuesday, June 30, 2020
Industry: Calculating And Accounting Machines No Electronic Computers

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