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Diebold Nixdorf, Inc (DBD) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

SEC Filings

DBD Quarterly Reports

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:
May 10, 2022

Diebold Nixdorf Reports 2022 First Quarter Financial Results
Please visit http://www.dieboldnixdorf.com/earnings for a comprehensive shareholder letter and additional content

HUDSON, Ohio - Diebold Nixdorf (NYSE:DBD) today reported its first quarter 2022 financial results.

Key Highlights
Backlog remained strong, fueled by our product-related order entry up 23% year-over-year and 2% sequentially, driven by demand for our DN Series™ ATMs and self-checkout (SCO) devices
Reported revenue of $830 million driven by strong demand for our Banking and Retail solutions offset by the continued challenging macro and geopolitical environment
Company announces plan to streamline operations and focus on key value drivers for customers and shareholders, expected to yield savings of more than $150 million over next 12-18 months; achieving its original financial growth, profitability and free cash flow targets by 2024

Octavio Marquez, Diebold Nixdorf president and chief executive officer, said: "Like many companies, we faced several challenges during the first quarter from the global pandemic, war in Ukraine, rising inflation and uncertainty around financial markets and global supply chains. Through our discipline, hard work and commitment to customers we remained resilient against these challenges. While market demand for our solutions is very strong, we recognize the need to accelerate conversion of product backlog to revenue and applying even more operational rigor to manage these challenges."

"To that end, we are instituting a plan to simplify our business and focus on areas that provide extraordinary value to our stakeholders. We will accomplish this through streamlining our operations to drive efficiencies and digitizing processes where possible, while investing in growth and great service for our customers. We expect to see significant cost savings of more than $150 million over the next 12 to 18 months and a return to our original financial growth, profitability and free cash flow targets by 2024. While we continue to live in uncertain times given the challenging macro environment, we have strong relationships with our customers who value the solutions we offer. We are committed to making the changes necessary to unlock the intrinsic value of our business and creating the best environment for our people to thrive."

Business Highlights
Banking
Continued momentum for our DN Series ATMs, with new systems live and certified in 80+ countries
Secured a contract for $5 million with Asia Pacific-based Military Bank for DN Series devices along with services and software, resulting in over 70% of the bank’s fleet now comprising Diebold Nixdorf devices
Grew the number of banking devices tied to the AllConnectSM Data Engine, with over 160,000 units connected at the end of Q1 as we continue to track to 225,000 connected devices by the end of 2022
Retail
Expanded our relationship with a global grocery retailer with a $39 million contract as the single supplier for devices, software and services continuing through 2023
Won a $14 million, three-year contract for services renewal as well as expansion of services with a top EMEA-based retailer with a presence in nearly 20 countries
Continued demand for our SCO devices, evidenced by a ~125% YoY increase in order entry
Growth initiatives
Secured a $6 million Managed Services contract in Europe with one of the largest express delivery companies in the world, including ongoing service management and potential opportunities for expansion
Launched our Vynamic® Retail Platform, a cloud-native software solution for retailers with the ability to have services deployed individually or used together, giving the retailer an end-to-end management solution
Continued momentum for our electric vehicle (EV) charging services business, demonstrated by our expanded partnership with alpitronic with a contract for more than 10,000 chargers across Europe, and two additional agreements with other notable players in the EV charging space, including a pilot project to service more than 7,000 chargers in the U.S.
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The following information was filed by Diebold Nixdorf, Inc (DBD) on Tuesday, May 10, 2022 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)
Research And Development
Research And Development (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
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: 0000028823-22-000069
Submitted to the SEC: Tue May 10 2022 4:40:40 PM EST
Accepted by the SEC: Tue May 10 2022
Period: Thursday, March 31, 2022
Industry: Calculating And Accounting Machines No Electronic Computers

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