Company reaffirms 2017 guidance
NORTH CANTON, Ohio,
Dec. 13, 2017 /PRNewswire/
-- Diebold Nixdorf (NYSE: DBD) today announced that Andreas
"Andy" W. Mattes is stepping down from his position as president
and chief executive officer (CEO) effective immediately. The
Office of the Chief Executive will be led by Christopher A. Chapman, senior vice president
and chief financial officer, and Juergen Wunram, senior vice
president and chief operating officer, until a permanent successor
has been named. Chapman and Wunram will serve as Interim
Co-Presidents and Co-CEOs of the company in the Office of the Chief
Executive. The Board of Directors also announced that it has
created a search committee and retained the executive search firm
Heidrick & Struggles to immediately begin the process to find a
highly qualified CEO.
On behalf of Diebold Nixdorf's
board, Henry D.G. Wallace, current
Chairman of the Board said, "Over the past several years, the
company has achieved a great deal, including the acquisition of
Wincor Nixdorf AG which created an industry leader with increased
global scale and market diversity. We have made great strides
in our integration through the launch of the DN2020 transformation
program, and capturing substantial synergies with more on the way.
We now look forward to a bright future as a unified company. We
thank Andy for his vision and leadership, including overseeing the
transaction and integration, and for bringing us to this point in
our history."
Gary G. Greenfield, who as
previously announced will become Chairman of the Board on
January 1, 2018, said, "Given the
significant changes taking place in our industry, now is the time
for Diebold Nixdorf to leverage the
full strength of the organization and enhance its focus on the new
era of global connected commerce. I look forward to helping
the board conduct a rigorous review of a diverse set of CEO
candidates, so we can bring the expertise and knowledge necessary
to lead Diebold Nixdorf into its
next phase of growth."
Also today, Diebold Nixdorf
reaffirmed its full-year 2017 guidance of approximately
$4.6 billion in revenue, adjusted
EBITDA of $370 million to
$380 million and a non-GAAP EPS range
of $1.05 to $1.15.
Juergen Wunram is senior vice president and chief operating
officer. He previously served Wincor Nixdorf AG as the CFO, COO and
a member of the executive board, beginning in March 2007.
Christopher A. Chapman is senior
vice president and chief financial officer. He joined Diebold in
1996 and has served in various financial leadership roles within
the company's finance organization. Most recently, Chapman led the
financial operations and restructuring of Diebold, Incorporated,
beginning in October 2013.
|
Full-year 2017
outlook(1)
|
|
|
Guidance
|
|
Total
Revenue
|
~$4.6B
|
|
Net Income (Loss)
attributable to Diebold Nixdorf, Inc.
|
$ (140 million) -
$ (130 million)
|
|
Adjusted
EBITDA
|
$370 million -
$380 million
|
|
2017 EPS
(GAAP)
|
$(1.80) -
$(1.70)
|
|
Restructuring
|
~0.70
|
|
Non-routine
(income)/expense:
|
|
|
Integration expense
|
~0.90
|
|
Legal, Acquisition and Divestiture expense
|
~0.25
|
|
Impairment
& Other Non-routine
|
~0.05
|
|
Wincor Nixdorf purchase price accounting
|
~2.10
|
|
Total non-routine
(income)/expense
|
~3.30
|
|
Tax impact of
restructuring and non-routine (income)/expense items
|
~(1.15)
|
|
Total Adjusted EPS
(non-GAAP measure)
|
$1.05 -
$1.15
|
|
|
(1) - The
company expects a non-GAAP effective tax rate to be around 20% for
the full year. With respect to the company's non-GAAP tax rate
outlook for 2017, the company is not providing the most directly
comparable GAAP financial measure and, with respect to the
company's non-GAAP tax rate and adjusted EBITDA outlook for 2017,
the company is not providing corresponding reconciliations because
it is unable to predict with reasonable certainty those items that
may affect such measures calculated and presented in accordance
with GAAP without unreasonable effort. These measures exclude the
future impact of restructuring actions, net non-routine items,
acquisition, divestiture and integration related expenses and
purchase accounting fair value adjustments. These reconciling items
are uncertain, depend on various factors and could significantly
impact, either individually or in the aggregate, our future period
tax rate calculated and presented in accordance with
GAAP.
|
Forward-Looking Statements
This press release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, including
statements regarding anticipated adjusted revenue growth, adjusted
internal revenue growth, adjusted diluted earnings per share, and
adjusted earnings per share growth. Statements can generally be
identified as forward‑looking because they include words such as
"believes", "anticipates", "expects", "could", "should" or words of
similar meaning. Statements that describe the company's future
plans, objectives or goals are also forward‑looking statements.
Forward‑looking statements are subject to assumptions, risks and
uncertainties that may cause actual results to differ materially
from those contemplated by such forward-looking statements. The
factors that may affect the company's results include, among
others: the ultimate impact of the domination and profit and loss
transfer agreement with Diebold Nixdorf AG ("DPLTA") and the
outcome of the appraisal proceedings initiated in connection with
the implementation of the DPLTA; the ultimate outcome and results
of integrating the operations of the company and Diebold Nixdorf
AG; the ultimate outcome of the company's pricing, operating and
tax strategies applied to Diebold Nixdorf AG and the ultimate
ability to realize synergies; the company's ability to successfully
operate its strategic alliances in China with the Inspur Group and Aisino Corp.;
the impact of market and economic conditions on the financial
services industry; the capacity of the company's technology to keep
pace with a rapidly evolving marketplace; pricing and other actions
by competitors; the effect of legislative and regulatory actions
in the United States and
internationally; the company's ability to comply with government
regulations; the impact of a security breach or operational failure
on the company's business; the company's ability to successfully
integrate acquisitions into its operations; the impact of the
company's strategic initiatives; and other factors included in the
company's filings with the SEC, including its Annual Report on Form
10-K for the year ended December 31,
2016 and in other documents that the company files with the
SEC. You should consider these factors carefully in evaluating
forward‑looking statements and are cautioned not to place undue
reliance on such statements. The company assumes no obligation to
update any forward‑looking statements, which speak only as of the
date of this press release.
About Diebold Nixdorf
Diebold Nixdorf, Incorporated
(NYSE:DBD) is a world leader in enabling connected commerce for
millions of consumers each day across the financial and retail
industries. Its software-defined solutions bridge the physical and
digital worlds of cash and consumer transactions conveniently,
securely and efficiently. As an innovation partner for nearly all
of the world's top 100 financial institutions and a majority of the
top 25 global retailers, Diebold
Nixdorf delivers unparalleled services and technology that
are essential to evolve in an 'always on' and changing consumer
landscape.
Diebold Nixdorf has a presence in
more than 130 countries with approximately 24,000 employees
worldwide. The organization maintains corporate offices in
North Canton, Ohio, USA and
Paderborn, Germany. Shares are
traded on the New York and
Frankfurt Stock Exchanges under the symbol 'DBD'. Visit
www.DieboldNixdorf.com for more information.
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