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Diebold Nixdorf, Inc (DBD) SEC Filing 10-Q Quarterly Report for the period ending Thursday, September 30, 2021

Diebold Nixdorf, Inc

CIK: 28823 Ticker: DBD


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press release
Media contact:Investor contact:
Mike Jacobsen, APRChristine Marchuska, CAIA
+1 330 490 3796+1 607 206 9212
michael.jacobsen@dieboldnixdorf.com    christine.marchuska@dieboldnixdorf.com
FOR IMMEDIATE RELEASE:
October 28, 2021

Diebold Nixdorf Reports 2021 Third Quarter Financial Results

NORTH CANTON, Ohio - Diebold Nixdorf (NYSE:DBD) today reported its third quarter 2021 financial results.

Key highlights
Continued growing demand for our products and solutions amid a challenging global supply chain and inflationary environment
Strong Retail segment revenue, up more than 9% on a GAAP basis and up 7% on a constant currency basis, with continued growth in self-checkout (SCO) solutions
Ended the quarter with backlog up 19% over the third quarter last year, pointing to a solid foundation for future periods

Gerrard Schmid, Diebold Nixdorf president and chief executive officer, said: "Demand for our solutions remained robust in the third quarter as we continued to help our customers deliver more digital, flexible, and effective self-service solutions for consumers. Additionally, we are very proud to see consistent, meaningful improvement in our Net Promoter Scores with both banking and retail clients. I am pleased with the support we have received in the market and the innovative spirit of our workforce as we navigate a difficult environment. Looking forward, we are seeing some moderation of supply chain constraints that gives us confidence for a strong fourth quarter and continued improvement in 2022."

Business updates
Banking
Continued momentum for our DN Series™ ATMs, with new systems live and certified in 60+ countries
Secured a contract for over $12 million with Banco Azteca in Mexico, including DN Series Cash Recyclers, a new service contract and software licenses expanding across 500 branches
Surpassed significant milestone of 100,000+ banking devices connected to the AllConnectSM Data Engine - an increase of over 100% on a year-over-year basis
Retail
Expanded a relationship with a large, multi-country retailer in central Europe, which included a competitive takeaway with a rollout of SCO devices across 2,500 stores in 15 countries over the next three years
Secured a significant $16 million contract renewal with a large global petrol convenience retailer's Southeast Asia operations, including point-of-sale, help desk support, software and other solutions
Strong year-to-date growth in the number of SCO devices
Growth initiatives
Awarded a large Managed Services agreement in North America with a Tier 1 financial institution, including a large order of DN Series ATMs
Continued to scale our debit and credit platforms with our Vynamic™ Payments offering at a top-10 global bank across 17,000+ ATMs
Entered the electric vehicle (EV) charging station services business, a promising and rapidly growing market, with early customer wins

Jeff Rutherford, Diebold Nixdorf senior vice president and chief financial officer, said: "Despite solid market activity and due to continued global supply challenges, $90 million of revenue modeled for the third quarter has been deferred to future periods. Additionally, we experienced $10 million of non-billable logistics inflation during the quarter. The deferral of revenue and non-billable inflation reduced third quarter gross margin by approximately $33 million.

Looking forward, we are revising our 2021 outlook. The company now expects total revenue of $3.90 billion to $3.95 billion, which reflects approximately $120 million in revenue deferral from 2021 to 2022. Additionally, non-billable supply chain and sourced product inflation is estimated at approximately $26 million for the fourth quarter and approximately $45 million for all of 2021. Our revised outlook for 2021 includes a $75 million unfavorable impact to 2021 gross margin from year-end revenue deferral and full-year inflationary pressures. We will continue leveraging various strategies to help mitigate these impacts, including pricing tactics and optimizing our manufacturing facilities."
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The following information was filed by Diebold Nixdorf, Inc (DBD) on Thursday, October 28, 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-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)
Bank Guarantees, Standby Loc, And Surety Bonds (Details)
Basis Of Presentation
Benefit Plans
Benefit Plans (Details)
Benefit Plans (Tables)
Commitments And Contingencies
Commitments And Contingencies (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)
Finance Lease Receivables
Finance Lease Receivables (Details)
Finance Lease Receivables (Tables)
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 (Tables)
Income Taxes
Income Taxes (Details)
Inventories
Inventories (Details)
Inventories (Tables)
Investments
Investments (Details)
Investments (Tables)
Investments (Textuals) (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)
Revenue From Contract With Customer (Details)
Revenue From Contract With Customer (Tables)
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)
Subsequent Events
Subsequent Events (Details)
Ticker: DBD
CIK: 28823
Form Type: 10-Q Quarterly Report
Accession Number: 0000028823-21-000139
Submitted to the SEC: Thu Oct 28 2021 4:40:33 PM EST
Accepted by the SEC: Thu Oct 28 2021
Period: Thursday, September 30, 2021
Industry: Calculating And Accounting Machines No Electronic Computers

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