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Diebold Nixdorf, Inc (DBD) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

Diebold Nixdorf, Inc

CIK: 28823 Ticker: DBD

Exhibit 99.1
dnlogo041.jpg
Press Release
Media contact:Investor contact:
Mike Jacobsen, APRSteve Virostek
1330490379613304906319
michael.jacobsen@dieboldnixdorf.comsteve.virostek@dieboldnixdorf.com
FOR IMMEDIATE RELEASE:
Feb. 10, 2021

Diebold Nixdorf Reports 2020 Fourth Quarter and Full-Year Financial Results
Company delivers strong results that exceeded expectations for 2020, issues 2021 outlook for revenue, profitability and free cash flow growth, and establishes 2023 financial targets

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

Key highlights
Expanded non-GAAP gross profit margins, non-GAAP operating profit margins and adjusted EBITDA margins for the fourth quarter and full-year 2020
Generated Q4 net cash from operations of $214.7 million and free cash flow of $185.8 million
Delivered product order growth of 17% and product backlog growth of 23% versus the prior-year period
Gerrard Schmid, Diebold Nixdorf president and chief executive officer, said: "We exited 2020 with momentum and delivered stronger-than-expected revenue, profitability and free cash flow as we continue to transform our business model to create value. Banking orders were stronger during the quarter as our customers seek out innovative and digitally enabled self-service solutions. We expanded our existing global partnership with Citibank for DN Series ATMs and development of our Vynamic software suite across 15 countries, helping standardize Citi’s customer experience while reducing complexity, cost and security risk. In addition, we substantially improved customer satisfaction across our global Banking business for the third consecutive year. These are tremendous accomplishments, resulting from the tireless efforts of our teams, increased customer centricity and our resilience during the global pandemic.

"Executing our DN Now initiatives has forged a stronger operating rigor for reducing costs and improving productivity. We took a major step toward our three-year, $500 million cost reduction program by realizing approximately $165 million of gross cost savings during 2020. Our leadership team is committed to deliver incremental cost reductions of $160 million and concluding restructuring and related payments in 2021.

"With the benefit of lower restructuring payments and higher profits, we are targeting significantly higher free cash flow of $140 million to $170 million in 2021, which represents approximately 30% of our expected adjusted EBITDA. Achieving this ratio will be an important stepping stone to our 2023 goal of converting approximately 50% of adjusted EBITDA to levered free cash flow. Our outlook for 2021 also includes a balance of top-line growth, margin expansion from continued cost reductions with additional investments in our people and solutions."

Business updates
Experiencing growing demand for DN Series™ ATMs and cash recycling technology
Signed contracts to deliver 1,800 ATMs to one of the largest banks in Saudi Arabia, and 500 ATMs to a new, growth-oriented customer in Egypt. Both financial institutions also purchased Vynamic security, monitoring and marketing software
Secured two new contacts in the Netherlands valued at approximately $11 million
Won a deal for 1,000 cash recyclers and DN AllConnectSM Data Engine with a large private bank in Brazil
Growing faster than the retail self-checkout (SCO) industry as shipments grew approximately 90% in Q4 and approximately 200% in 2020
Booked initial orders under a milestone agreement with the owner of the world’s 2nd-largest SCO fleet
Signed a $7 million contract with a large grocery store in Poland to deploy SCO and Vynamic iScan™
Won a new, four-year ATM monitoring and services contract covering approximately 2,400 ATMs in North America
Secured new, multi-year contracts with BP to extend our managed service agreement for fuel and convenience stores in the United States, nine European nations, Australia and South Africa
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The following information was filed by Diebold Nixdorf, Inc (DBD) on Wednesday, February 10, 2021 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-K Annual 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-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information Document
Consolidated Balance Sheets
Consolidated Balance Sheets (Parentheticals)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Comprehensive Income (Loss) (Parentheticals)
Consolidated Statements Of Equity
Consolidated Statements Of Equity (Parentheticals)
Consolidated Statements Of Operations
Accumulated Other Comprehensive Loss (Details)
Accumulated Other Comprehensive Loss (Notes)
Accumulated Other Comprehensive Loss (Tables)
Accumulated Other Comprehensive Loss Reclassification Adjustment (Details)
Acquisitions And Divestitures (Details)
Acquisitions And Divestitures (Notes)
Benefit Plans
Benefit Plans (Tables)
Benefit Plans - Components Of Net Periodic Benefit Cost (Details)
Benefit Plans Benefit Plans - Accumulated Benefit Obligation In Excess Of Plan Assets (Details)
Benefit Plans Benefit Plans - Allocation Of Plan Assets (Details)
Benefit Plans Benefit Plans - Assumptions Used (Details)
Benefit Plans Benefit Plans - Defined Contribution Plans (Details)
Benefit Plans Benefit Plans - Future Benefit Payments (Details)
Benefit Plans Benefit Plans - Health Care Cost Trends (Details)
Benefit Plans Benefit Plans - Summary Of Benefit Plan (Details)
Benefit Plans Benefit Plans - Textuals (Details)
Commitments And Contingencies
Commitments And Contingencies Commitments And Contingencies (Details)
Debt
Debt (Details)
Debt (Tables)
Debt (Textuals) (Details)
Debt Debt - Cash Flow Information (Details)
Debt Maturities Of Long-Term Debt (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)
Earnings (Loss) Per Share
Earnings (Loss) Per Share (Details)
Earnings (Loss) Per Share (Tables)
Fair Value Of Assets And Liabilities
Fair Value Of Assets And Liabilities (Tables)
Fair Value Of Assets And Liabilities (Textuals) (Details)
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 (Details)
Goodwill And Other Assets
Goodwill And Other Assets (Tables)
Goodwill And Other Assets (Textuals) (Details)
Guarantees And Product Warranties
Guarantees And Product Warranties (Details)
Guarantees And Product Warranties (Tables)
Income Taxes
Income Taxes (Tables)
Income Taxes (Textuals) (Details)
Income Taxes - (Loss) Income From Continuing Operatings (Details)
Income Taxes - Deferred Tax Assets And Liabilities (Details)
Income Taxes - Income Tax Reconciliation (Details)
Income Taxes - Provision/(Benefit) For Income Taxes (Details)
Income Taxes - Unrecognized Tax Benefits (Details)
Income Taxes Income Taxes - Deferred Taxes By Balance Sheet Account (Details)
Inventories
Inventories (Details)
Inventories (Tables)
Investments
Investments (Details)
Investments (Tables)
Investments (Textuals) (Details)
Investments - Allowance For Credit Losses (Details)
Investments - Components Of Finance Lease Receivables (Details)
Investments - Minimum Lease Receivables Schedule (Details)
Leases
Leases (Tables)
Leases Components Of Lease Expense (Details)
Leases Leases (Details)
Leases Leases (Policies)
Leases Maturities Of Lease Liabilities (Details)
Leases Supplemental Balance Sheet Information Related To Leases (Details)
Leases Supplemental Cash Flow Information Related To Leases (Details)
Other Assets (Details)
Property, Plant And Equipment
Property, Plant And Equipment (Details)
Property, Plant And Equipment (Tables)
Quarterly Financial Information (Unaudited)
Quarterly Financial Information (Unaudited) (Details)
Quarterly Financial Information (Unaudited) (Tables)
Redeemable Noncontrolling Interests (Details)
Redeemable Noncontrolling Interests (Notes)
Redeemable Noncontrolling Interests (Tables)
Restructuring
Restructuring (Tables)
Restructuring (Textuals) (Details)
Restructuring - Restructuring Charges By Plan (Details)
Restructuring - Restructuring Charges By Segment (Details)
Restructuring - Restructuring Charges By Statement Of Operations Account (Details)
Restructuring - Restructuring Reserve Activity (Details)
Segment Information
Segment Information (Details)
Segment Information (Tables)
Segment Information (Textuals) (Details)
Segment Information Geographical Revenue And Long-Lived Assets (Details)
Segment Information Revenue By Service/Product Solution (Details)
Share-Based Compensation And Equity
Share-Based Compensation And Equity (Tables)
Share-Based Compensation And Equity (Textuals) (Details)
Share-Based Compensation And Equity - Fair Value Assumptions (Details)
Share-Based Compensation And Equity - Performance Shares Activity (Details)
Share-Based Compensation And Equity - Restricted Stock Unit Activity (Details)
Share-Based Compensation And Equity - Share-Based Compensation Expense (Details)
Share-Based Compensation And Equity - Stock Option Activity (Details)
Share-Based Compensation And Equity - Unrecognized Compensation Costs (Details)
Share-Based Compensation And Equity Share-Based Compensation And Equity (Policies)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Details)
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies (Tables)
Ticker: DBD
CIK: 28823
Form Type: 10-K Annual Report
Accession Number: 0000028823-21-000059
Submitted to the SEC: Mon Mar 01 2021 4:12:15 PM EST
Accepted by the SEC: Mon Mar 01 2021
Period: Thursday, December 31, 2020
Industry: Calculating And Accounting Machines No Electronic Computers

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