DGAP-CMS: Diebold Nixdorf, Incorporated: Release according to Article 50 of the WpHG [the German Securities Trading Act] with the objective of Europe-wide distribution

2019. április 30., kedd, 13:16





DGAP Post-admission Duties announcement: Diebold Nixdorf, Incorporated / Third country release according to Article 50 Para. 1, No. 2 of the WpHG [the German Securities Trading Act]


Diebold Nixdorf, Incorporated: Release according to Article 50 of the WpHG [the German Securities Trading Act] with the objective of Europe-wide distribution


30.04.2019 / 13:16


Dissemination of a Post-admission Duties announcement according to Article 50 Para. 1, No. 2 WpHG transmitted by DGAP - a service of EQS Group AG.


The issuer is solely responsible for the content of this announcement.



Exhibit 99.1












/pressrelease
Media contact: Investor contact:
Mike Jacobsen, APR Steve Virostek
+1 330 490 3796 +1 330 490 6319
michael.jacobsen@dieboldnixdorf.comsteve.virostek@dieboldnixdorf.com









FOR IMMEDIATE RELEASE:

April 30, 2019

DIEBOLD NIXDORF REPORTS 2019 FIRST QUARTER FINANCIAL RESULTS
- Revenue of $1.0 billion; down 3.4% on an as-reported basis and up 3.0%
in constant currency

- GAAP loss per share of $1.74, or a loss of $0.63 on a non-GAAP basis

- GAAP operating loss of $24.5 million compares with a loss of $23.5
million for the first quarter of 2018; non-GAAP operating profit of
$27.1 million improved by 54.0% versus $17.6 million for the first
quarter of 2018

- Net loss was $132.7 million; adjusted EBITDA was $65.1 million, or
adjusted EBITDA margin of 6.3%

- Net cash used by operating activities was $57.1 million, a decrease in
use of $85.2 million from the prior-year period; free cash use was
$71.8 million, a decrease in use of $90.7 million from the prior-year
period due to improved working capital management

- Company reiterates 2019 financial outlook

NORTH CANTON, Ohio - Diebold Nixdorf today reported its first quarter 2019
financial results.

"Revenue growth of 3 percent in constant currency, coupled with the
benefits of our DN Now transformation initiatives, enabled the company to
deliver improved profitability and cash flow in the first quarter," said
Gerrard Schmid, Diebold Nixdorf president and chief executive officer. "In
banking, we generated good order growth in the Americas supported by our
software and Windows 10 upgrade solutions. In Europe, our cash recycling
technology continues to resonate with customers. Our global retail business
is benefiting from continued acceptance of our self-checkout and point-ofsale
solutions."

Schmid continued, "Our gross margin expansion of 60 basis points was fueled
by operational initiatives including our services modernization program,
global manufacturing improvements and increased discipline in terms of how
we package and sell our solutions. More importantly, we significantly
improved our seasonal cash use by more than $90 million versus the prioryear
quarter as we proactively managed collections and payments across the
company.

"We continue to implement key DN Now transformational initiatives, which
are streamlining our cost structure, intensifying our customer focus and
evolving the company"s connected commerce solutions," Schmid concluded. "We
are progressing on a three-year journey to create value and substantially
improve financial performance. Our first quarter results, coupled with DN
Now transformation initiatives, give us confidence to reiterate our fullyear
guidance."

2019 First Quarter Business Highlights

- Elected four new independent members to the company"s Board of
Directors, continuing to refresh the board to align with the company"s
strategy and opportunities

- Won a five-year agreement valued at more than $60 million with one of
the world"s largest fuel and convenience retailers to deploy a new,
centralized card acceptance platform. The contract includes software
licenses, professional and maintenance services for stores in 10
European markets

- Agreed to an $18 million contract with a French retailers" supermarket
cooperative for 600 self-checkout systems and a four-year services
contract

- Won Windows 10 automated teller machine (ATM) product upgrades with
several financial institutions, including an agreement with KeyBank to
digitally transform more than 1,400 units with DN VynamicTM software

- Expanded a partnership with a major Belgian bank to upgrade more than
2,400 devices and cash recyclers to Windows 10, leveraging Diebold
Nixdorf AllConnect ServicesSM and the DN Vynamic software suite

- Renewed two multi-year services contracts, valued at more than $90
million, with a top-three financial institution in the United States
and a top-tier bank in Western Europe

- Secured a systems and services agreement with Halkbank in Turkey,
including 250 cash recyclers, to expand its ATM fleet and improve the
customer experience

- Achieved a win with Bank Pekao in Poland, including nearly 230 cash
recyclers, valued at more than $4 million


Financial Results of Operations and Segments
Revenue Summary by Reportable Segments - Unaudited

Three months ended March 31, 2019 compared to March 31, 2018
































































































































(Dollars inThreeMonthsEnded




millions)








March31,






2019
2018
%Change %Changein







CC(1)
Segments







Eurasia







Banking







Services$212.3$238.5(11.0)(3.5)
Products
127.8
147.3(13.2)(5.0)
Software
42.5
49.3(13.8)(5.3)
Total Eurasia
382.6
435.1(12.1)(4.2)
Banking
















Americas







Banking







Services
222.1
231.4(4.0)(2.6)
Products
108.5
72.649.4
52.0
Software
32.1
29.78.1
13.0
Total
362.7
333.78.7
10.6
Americas







Banking
















Retail







Services
109.8
122.3(10.2)(2.3)
Products
139.4
132.65.1
14.2
Software
33.6
40.5(17.0)(8.9)
Total Retail
282.8
295.4(4.3)4.2









Total net$1,028.1$1,064.2(3.4)3.0
sales




































(1) - The company calculates constant currency by translating the prioryear
period results at the current year exchange rate.

Full-year 2019 outlook(1)






























PreviousCurrent
Total Revenue$4.4 billion - $4.5$4.4 billion - $4.5

billionbillion
Adjusted EBITDA$380 million - $420$380 million - $420

millionmillion
Net cash provided by~$80 million~$80 million
operating activities

Capital expenditures~ ($80 million)~ ($80 million)
Free cash flow / (use)Break evenBreak even











1 - With respect to the company"s non-GAAP adjusted EBITDA outlook for
2019, it is not providing a reconciliation to the most directly comparable
GAAP financial measure 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 primarily exclude the future impact of restructuring actions and
net non-routine items. These reconciling items are uncertain, depend on
various factors and could significantly impact, either individually or in
the aggregate, net income calculated and presented in accordance with GAAP.
Please see "Use of Non-GAAP Financial Measures" for additional information
regarding our use of non-GAAP financial measures.

Overview Presentation and Conference Call
More information on Diebold Nixdorf"s quarterly earnings is available on
Diebold"s Investor Relations website. Gerrard Schmid, president and chief
executive officer, and Jeffrey Rutherford, chief financial officer, will
discuss the company"s financial performance during a conference call today
at 8:30 a.m. (ET). Both the presentation and access to the call / webcast
are available at http://www.dieboldnixdorf.com/earnings. The replay of the
webcast can be accessed on the web site for up to three months after the
call.

About Diebold Nixdorf

Diebold Nixdorf, Incorporated (NYSE: DBD) is a world leader in enabling
connected commerce. We automate, digitize and transform the way people bank
and shop. Our integrated solutions connect digital and physical channels
conveniently, securely and efficiently for millions of consumers every day.
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 power the daily
operations and consumer experience of banks and retailers around the world.
The company has a presence in more than 100 countries with approximately
23,000 employees worldwide. Visit www.DieboldNixdorf.com for more
information.

Non-GAAP Financial Measures and Other Information
To supplement our condensed consolidated financial statements presented in
accordance with GAAP, the company considers certain financial measures that
are not prepared in accordance with GAAP, including non-GAAP results,
adjusted diluted earnings per share, free cash flow/(use), net debt,
EBITDA, adjusted EBITDA and constant currency results. The company
calculates constant currency by translating the prior year results at the
current year exchange rate. The company uses these non-GAAP financial
measures, in addition to GAAP financial measures, to evaluate our operating
and financial performance and to compare such performance to that of prior
periods and to the performance of our competitors. Also, the company uses
these non-GAAP financial measures in making operational and financial
decisions and in establishing operational goals. The company also believes
providing these non-GAAP financial measures to investors, as a supplement
to GAAP financial measures, helps investors evaluate our operating and
financial performance and trends in our business, consistent with how
management evaluates such performance and trends. The company also believes
these non-GAAP financial measures may be useful to investors in comparing
its performance to the performance of other companies, although its nonGAAP
financial measures are specific to the company and the non-GAAP
financial measures of other companies may not be calculated in the same
manner. We provide EBITDA and Adjusted EBITDA because we believe that
investors and securities analysts will find EBITDA and adjusted EBITDA to
be useful measures for evaluating our operating performance and comparing
our operating performance with that of similar companies that have
different capital structures and for evaluating our ability to meet our
future debt service, capital expenditures and working capital requirements.
We are also providing EBITDA and adjusted EBITDA in light of our credit
agreement and the issuance of our 8.5% senior notes due 2024. For more
information, please refer to the section, "Notes for Non-GAAP Measures."


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 cost reductions and synergies; the company"s ability to
successfully operate its strategic alliances in China; the changes in
political, economic or other factors such as interest rates, currency
exchange rates, inflation rates, recessionary or expansive trends, taxes
and regulations and laws affecting the worldwide business in each of the
company"s operations; the company"s reliance on suppliers and any potential
disruption to the company"s global supply chain; changes in the company"s
relationships with customers, suppliers, distributors and/or partners in
its business ventures; the impact of market and economic conditions on the
financial services and retail industries; 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 company"s
ability to achieve benefits from its cost-reduction initiatives and other
strategic initiatives, such as DN Now, including its planned restructuring
actions, as well as its business process outsourcing initiative;
unanticipated litigation, claims or assessments, as well as the outcome/
impact of any current/pending litigation, claims or assessments; the
company"s success in divesting, reorganizing or exiting non-core and/or
non-accretive businesses; changes in the company"s intention to further
repatriate cash and cash equivalents and short-term investments residing in
international tax jurisdictions, which could negatively impact foreign and
domestic taxes: the company"s ability to maintain effective internal
controls; the company"s ability to comply with covenants contained in the
agreements governing its debt; the investment performance of the company"s
pension plan assets, which could require the company to increase its
pension contributions, and significant changes in healthcare costs,
including those that may result from government action; the amount and
timing of repurchases of the company"s common shares, if any; 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, 2018 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 to the date of this release.

DIEBOLD NIXDORF, INCORPORATED AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED
(IN MILLIONS, EXCEPT EARNINGS PER SHARE)






















































































































































Q12019
Q12018
Net sales





Services$628.7
$690.3
Products
399.4

373.9
Total
1,028.1

1,064.2
Cost of sales





Services
473.5

523.0
Products
310.5

302.8
Total
784.0

825.8
Gross profit
244.1

238.4
Gross margin
23.7%
22.4 %
Operating expenses





Selling and administrative expense
228.3

227.9
Research, development and engineering
36.9

41.7
expense





Loss (gain) on sale of assets, net
3.4

(7.7)
Total
268.6

261.9
Percent of net sales
26.1%
24.6 %
Operating loss
(24.5)
(23.5)
Operating margin
(2.4)%
(2.2)%
Other income (expense)





Interest income
2.9

3.5
Interest expense
(50.9)
(26.0)
Foreign exchange gain (loss), net
2.8

(1.4)
Miscellaneous, net
(1.4)
(0.1)
Total other income (expense)
(46.6)
(24.0)
Loss before taxes
(71.1)
(47.5)
Income tax expense
60.4

19.2
Equity in earnings of unconsolidated
(0.4)
1.1
subsidiaries





Net loss
(131.9)
(65.6)
Net income attributable to
0.8

7.6
noncontrolling interests





Net loss attributable to Diebold$(132.7)$(73.2)
Nixdorf, Incorporated












Basic and diluted weighted-average
76.4

75.8
shares outstanding












Net loss attributable to Diebold





Nixdorf, Incorporated





Basic and diluted loss per share$(1.74)$(0.97)







Dividends declared and paid per common$-
$0.10
share




























DIEBOLD NIXDORF, INCORPORATED AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED
(IN MILLIONS)

















































































































3/31/2019
12/31/2018





ASSETS



Current assets



Cash, cash equivalents and restricted$377.9$458.4
cash



Short-term investments
31.5
33.5
Trade receivables, less allowances
697.7
737.2
for doubtful accounts



Inventories
663.0
610.1
Other current assets
367.2
364.2
Total current assets
2,137.3
2,203.4
Securities and other investments
18.7
22.4
Property, plant and equipment, net
294.5
304.1
Goodwill
813.6
827.1
Intangible assets, net
588.8
624.6
Right-of-use lease assets
173.3
-
Other assets
301.1
330.3
Total assets$4,327.3$4,311.9





LIABILITIES, REDEEMABLE



NONCONTROLLING INTERESTS AND EQUITY



Current liabilities



Notes payable$47.2$49.5
Accounts payable
491.8
509.5
Deferred revenue
443.2
378.2
Lease liability
61.7
-
Other current liabilities
610.6
631.2
Total current liabilities
1,654.5
1,568.4





Long-term debt
2,191.2
2,190.0
Long-term lease liability
110.4
-
Long-term liabilities
546.1
582.7





Redeemable noncontrolling interests
99.8
130.4





Total Diebold Nixdorf, Incorporated
(301.4 )
(186.4 )
shareholders" equity



Noncontrolling interests
26.7
26.8
Total equity
(274.7 )
(159.6 )
Total liabilities, redeemable$4,327.3$4,311.9
noncontrolling interests and equity




















DIEBOLD NIXDORF, INCORPORATED AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED
(IN MILLIONS)















































































































































































YTD 3/31/2019

YTD 3/31/2018

Cash flow from





operating activities





Net loss$(131.9)$(65.6)
Adjustments to





reconcile net loss to





cash flow used by





operating activities:





Depreciation and
58.4

64.4
amortization





Deferred income taxes
4.2

(17.9)
Other
13.1

4.1
Changes in certain





assets and liabilities





Trade receivables
33.2

(17.7)
Inventories
(63.1)
(90.2)
Accounts payable
(12.4)
(3.6)
Income taxes
47.2

28.2
Deferred revenue
66.6

60.3
Warranty liability
(2.3)
(12.9)
Certain other assets
(70.1)
(91.4)
and liabilities





Net cash used by
(57.1)
(142.3)
operating activities





Cash flow from





investing activities





Capital expenditures
(14.7)
(20.2)
Payment for
-

(5.8)
acquisitions





Net short-term
4.4

59.1
investment activity





Increase in certain
(1.2)
0.1
other assets





Net cash (used)
(11.5)
33.2
provided by investing





activities





Cash flow from





financing activities





Dividends paid
-

(7.7)
Net debt borrowings
(1.8)
(80.7)
Distributions and
(11.0)
(0.5)
payments to





noncontrolling





interest holders





Repurchase of common
(1.1)
(2.5)
shares





Net cash used by
(13.9)
(91.4)
financing activities





Effect of exchange
(0.5)
21.5
rate changes on cash





and cash equivalents





Decrease in cash, cash
(83.0)
(179.0)
equivalents and





restricted cash





Add: Cash included in
7.3

-
assets held for sale





at beginning of period





Less: Cash included in
4.8

-
assets held for sale





at end of period





Cash, cash equivalents
458.4

543.2
and restricted cash at





the beginning of the





period





Cash, cash equivalents$377.9
$364.2
and restricted cash at





the end of the period




























Notes for Non-GAAP Measures

To supplement our condensed consolidated financial statements presented in
accordance with GAAP, the company considers certain financial measures that
are not prepared in accordance with GAAP, including non-GAAP results,
adjusted earnings per share, EBITDA and Adjusted EBITDA, free cash flow/
(use) and net (debt).

1. Profit/loss summary (Dollars in millions):


































































































































































Q1 2019

Q1 2018




Net Sales

Gross Profit

% of Sales

OPEX

OP

% of Sales

Net Sales

Gross Profit

% of Sales

OPEX

OP

% of Sales

GAAP Results

$1,028.1
$ 244.1

23.7%$
268.6
$
(24.5)(2.4
)%$
1,064.2
$
238.4
22.4
% $261.9
$ (23.5
)
(2.2)%
Restructuring

-

1.5

(2.3)
3.8

-

2.6

(1.3)
3.9

Non-routine income/expense:

Legal/consulting and deal expense

-

-

(20.7)
20.7

-

-

(0.3)
0.3

Acquisition integration

-

-

0.4

(0.4)
-

1.0

(14.2)
15.2

Wincor Nixdorf purchase accountingadjustments
-

3.4

(21.2)
24.6

-

7.4

(23.8)
31.2

Divestitures and fixed asset sale

-

-

(3.4)
3.4

-

-

7.8

(7.8)
Inventory gain/charge

-

(3.6)
-

(3.6)
-

1.7

-

1.7

Other

-

0.1

(3.0)
3.1

-

(3.6)
(0.2)
(3.4)
Non-routine expenses, net

-

(0.1)
(47.9)
47.8

-

6.5

(30.7)
37.2

Non-GAAP Results

$1,028.1
$ 245.5

23.9%$
218.4
$
27.1
2.6
%$
1,064.2
$
247.5
23.3
% $229.9
$ 17.6

1.7 %












Restructuring expenses relate to the business transformation plan focused
on driving connected commerce, finance, sales and operational excellence,
business integration and global workforce alignment. Legal, consulting and
deal expenses primarily related to the mark-to-mark impact on Wincor
Nixdorf stock options and fees paid by the company for the ongoing
obligations related to prior regulatory settlements, including the cost of
acquisition and real estate tax in connection with the squeeze-out
proceedings and related expenses. The acquisition integration expenses
primarily relate to the integration of Wincor Nixdorf, which was acquired
in August 2016. The Wincor Nixdorf purchase accounting adjustments relate
to the valuation of inventory and intangible asset charges as management
believes that this is useful information to investors by highlighting the
impact of the acquisition of Wincor Nixdorf on the company"s operations.
The divestitures and fixed asset sale relates to the liquidation and
divestiture of a Eurasia non-core businesses, divestiture of the Venezuela
business and the sale of a North America building in 2018. The inventory
gain/charge relates to the company"s re-assessment of primarily finished
goods and service parts due to contract cancellations and excess and
obsolete inventory due to streamlining the company"s product portfolio and
optimizing its manufacturing footprint. Other includes executive severance,
amounts related to the Brazil indirect tax matter and certain non-cash
balance sheet adjustments in Brazil, Hong Kong and Canada.

2. Reconciliation of GAAP net income (loss) to EBITDA and Adjusted EBITDA
measures (Dollars in millions):











































































Q12019
Q12018
Net income (loss)$(131.9)$(65.6)
Income tax expense (benefit)
60.4

19.2
Interest income
(2.9)
(3.5)
Interest expense
50.9

26.0
Depreciation and amortization
53.3

61.8
EBITDA
29.8

37.9
Share-based compensation
9.3

13.7
Foreign exchange (gain) loss, net
(2.8)
1.4
Miscellaneous, net
1.4

0.1
Equity in earnings of unconsolidated
0.4

(1.1)
subsidiaries





Restructuring expenses
3.8

3.9
Non-routine expenses, net
23.2

6.0
Adjusted EBITDA$65.1
$61.9
Adjusted EBITDA % revenue
6.3%
5.8%























We define EBITDA as net income (loss) excluding income tax benefit, net
interest, and depreciation and amortization expense. We define Adjusted
EBITDA as EBITDA before the effect of the following items: share-based
compensation, foreign exchange (gain) loss net, miscellaneous net,
restructuring expenses and non-routine expenses net, as outlined in Note 1
of the non-GAAP measures. In order to remain comparable to the U.S. GAAP
depreciation and amortization measures and avoid duplication, the Company
reclassified $24.6 and $31.2, respectively, from non-routine expenses, net
to the depreciation and amortization caption in the Adjusted EBITDA
reconciliation for the three month periods ended March 31, 2019 and 2018,
respectively. Deferred financing fees amortization is included in interest
expense and GAAP depreciation and amortization; to avoid duplication,
deferred financing fees amortization of $5.1 and $2.6 for the three months
ended March 31, 2019 and 2018, respectively, were removed from the
depreciation and amortization caption. This represents the reconciliation
between the amounts presented in note 1 and Adjusted EBITDA. Miscellaneous,
net primarily consists of company owned life insurance contracts. These are
non-GAAP financial measurements used by management to enhance the
understanding of our operating results. EBITDA and Adjusted EBITDA are key
measures we use to evaluate our operational performance. We provide EBITDA
and Adjusted EBITDA because we believe that investors and securities
analysts will find EBITDA and Adjusted EBITDA to be useful measures for
evaluating our operating performance and comparing our operating
performance with that of similar companies that have different capital
structures and for evaluating our ability to meet our future debt service,
capital expenditures, and working capital requirements. However, EBITDA and
Adjusted EBITDA should not be considered as alternatives to net income as a
measure of operating results or as alternatives to cash flows from
operating activities as a measure of liquidity in accordance with GAAP. For
the first quarter 2018, the Company reclassified $2.7 within the operating
activities of the Condensed Consolidated Statements of Cash Flows from
depreciation and amortization to certain other assets and liabilities for
consistency with the current presentation, resulting in the decrease to the
prior-year first quarter EBIDTA.

3. Reconciliation of diluted GAAP EPS to non-GAAP EPS:





































































Q12019
Q12018
Total diluted EPS attributable to Diebold$(1.74)$(0.97)
Nixdorf, Incorporated (GAAP measure)





Restructuring
0.05

0.05
Non-routine (income)/expense:





Legal/consulting and deal expense
0.27

-
Acquisition integration
(0.01)
0.20
Wincor Nixdorf purchase accounting
0.32

0.41
adjustments





Divestitures and fixed asset sale
0.04

(0.10)
Inventory gain/charge
(0.05)
0.02
Other
0.06

(0.03)
Total non-routine (income)/expense
0.63

0.50
Tax impact (inclusive of allocation of
0.43

0.29
discrete tax items)





Total adjusted EPS (non-GAAP measure)$(0.63)$(0.13)























Restructuring expenses relate to the business transformation plan focused
on driving connected commerce, finance, sales and operational excellence,
business integration and global workforce alignment. Legal, consulting and
deal expenses primarily related to the mark-to-mark impact on Wincor
Nixdorf stock options and fees paid by the company for the ongoing
obligations related to prior regulatory settlements, including the cost of
acquisition and real estate tax in connection with the squeeze-out
proceedings and related expenses. The acquisition integration expenses
primarily relate to the integration of Wincor Nixdorf, which was acquired
in August 2016. The Wincor Nixdorf purchase accounting adjustments relate
to the valuation of inventory and intangible asset charges as management
believes that this is useful information to investors by highlighting the
impact of the acquisition of Wincor Nixdorf on the company"s operations.
The divestitures and fixed asset sale relate to the liquidation and
divestiture of a Eurasia non-core businesses, divestitures of the Venezuela
business and the sale of a North America building in 2018. The inventory
gain/charge relates to the company"s re-assessment of primarily finished
goods and service parts due to contract cancellations and excess and
obsolete inventory due to streamlining the company"s product portfolio and
optimizing its manufacturing footprint. Other includes executive severance,
amounts related to the Brazil indirect tax matter and certain non-cash
balance sheet adjustments in Brazil, Hong Kong and Canada.

4. Free cash flow (use) is calculated as follows (Dollars in millions):








































Q12019
Q12018
Net cash used by operating activities (GAAP$(57.1)$(142.3)
measure)





Capital expenditures (GAAP measure)
(14.7)
(20.2)
Free cash flow/(use) (non-GAAP measure)$(71.8)$(162.5)























We define free cash flow (use) as net cash used by operating activities
less capital expenditures. We consider free cash flow (use) to be a
liquidity measure that provides useful information to management and
investors about the amount of cash generated by the business that, after
the purchase of property and equipment, can be used for debt servicing,
strategic opportunities, including investing in the business, making
strategic acquisitions, strengthening the balance sheet and paying
dividends.

5. Net debt is calculated as follows (Dollars in millions):


























































3/31/2019

12/31/2018

3/31/2018
Cash, cash$409.4
$491.9
$388.4
equivalents,








restricted








cash and








short-term








investments








(GAAP measure)








Debt
(2,238.4)
(2,239.5)
(1,789.1)
instruments








Net debt (non-$(1,829.0)$(1,747.6)$(1,400.7)
GAAP measure)








































The company"s management believes that given the significant cash, cash
equivalents and other investments on its balance sheet that net cash
against outstanding debt is a meaningful net debt calculation. More than
90% of the company"s cash, cash equivalents, restricted cash and short-term
investments reside in international tax jurisdictions for all periods
presented.

###

PR/19_3941















30.04.2019 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de













Language: English
Company: Diebold Nixdorf, Incorporated

5995 Mayfair Road

44720 North Canton, OH

United States
Internet: www.dieboldnixdorf.com





 
End of News DGAP News Service





805493  30.04.2019 



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