Diebold Nixdorf, Incorporated (NYSE:DBD) Q2 2021 Results Conference Call July 29, 2021 8:30 AM ET Company Participants Steve Virostek - Investor Relations Gerrard Schmid - President & Chief Executive Officer Jeff Rutherford - Senior Vice President & Chief Financial Officer Conference Call Participants Matt Summerville - D.A. Davidson Justin Bergner - G.Research LLC Paul Chung - JP Morgan Kartik Mehta - Northcoast Research Marla Backer - Sidoti & Company Ana Goshko - Bank of America Matt Bryson - Wedbush Sec ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________ Form 10-Q __________________________________________________ ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-4879 ____________________________________ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________ Form 10-Q __________________________________________________ ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-4879 ___________________________________ ...

Diebold Nixdorf, Incorporated (NYSE:DBD) Q1 2021 Earnings Conference Call May 10, 2021 8:30 AM ET Company Participants Steve Virostek - Investor Relations Gerrard Schmid - President & Chief Executive Officer Jeff Rutherford - Senior Vice President & Chief Financial Officer Conference Call Participants Matt Summerville - D.A. Davidson Justin Bergner - G.Research LLC Paul Chung - JP Morgan Kartik Mehta - Northcoast Research Marla Backer - Sidoti & Company Operator Good day, and thank you for standing by. Welc ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from Commission file number 1-4879 Diebold Nixdorf, Incorporated (Exact name of registrant as specified in its charter) Ohio 34-0183970 (State or other jurisdiction of incorporatio ...

Diebold Nixdorf, Incorporated (NYSE:DBD) Q4 2020 Earnings Conference Call February 10, 2021 8:30 AM ET Company Participants Steve Virostek - Investor Relations Gerrard Schmid - President and Chief Executive Officer Jeff Rutherford - Senior Vice President and Chief Financial Officer Conference Call Participants Paul Chung - JP Morgan Kartik Mehta - Northcoast Research Matt Summerville - D.A. Davidson Jeff Hallett - Barclays Justin Bergner - G. Research LLC Ana Goshko - Bank of America Marla Backer - Sido ...

Part I - Financial Information [Item 1: Financial Statements](index=3&type=section&id=Item%201%3A%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for Q3 and nine months ended September 30, 2020 and 2019, including balance sheets, operations, and cash flows [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of September 30, 2020, total assets decreased to **$3,627.8 million** from **$3,790.6 million**, and total equity declined to **$(811.7) million** from **$(506.3) million** Condensed Consolidated Balance Sheet Highlights (in millions) | Account | Sep 30, 2020 (Unaudited) | Dec 31, 2019 | | :--- | :--- | :--- | | **Total current assets** | $1,841.0 | $1,892.0 | | **Total assets** | $3,627.8 | $3,790.6 | | **Total current liabilities** | $1,449.6 | $1,599.6 | | **Long-term debt** | $2,427.9 | $2,108.7 | | **Total liabilities** | $4,420.5 | $4,276.0 | | **Total equity** | $(811.7) | $(506.3) | [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q3 2020 net loss was **$(100.9) million** on **$995.2 million** net sales, while the nine-month net loss was **$(217.4) million**, a slight improvement from **$(222.0) million** in 2019 Statement of Operations Summary (in millions, except per share data) | Metric | Q3 2020 | Q3 2019 | 9 Months 2020 | 9 Months 2019 | | :--- | :--- | :--- | :--- | :--- | | **Net sales** | $995.2 | $1,078.8 | $2,796.4 | $3,257.1 | | **Gross profit** | $284.1 | $271.4 | $758.5 | $796.7 | | **Operating profit (loss)** | $23.8 | $23.2 | $18.3 | $6.0 | | **Net loss** | $(100.9) | $(34.8) | $(217.4) | $(222.0) | | **Basic and diluted loss per share** | $(1.31) | $(0.46) | $(2.81) | $(2.86) | [Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the nine months ended September 30, 2020, net cash used by operating activities was **$(209.4) million**, while financing activities provided **$160.8 million**, reversing a prior-year use Cash Flow Summary for Nine Months Ended Sep 30 (in millions) | Cash Flow Activity | 2020 | 2019 | | :--- | :--- | :--- | | **Net cash provided (used) by operating activities** | $(209.4) | $7.4 | | **Net cash provided (used) by investing activities** | $(40.7) | $10.2 | | **Net cash provided (used) by financing activities** | $160.8 | $(184.9) | | **Change in cash, cash equivalents and restricted cash** | $(97.0) | $(174.5) | [Notes to Condensed Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) These notes detail accounting policies, the **DN Now** restructuring program, July 2020 debt refinancing, segment revenue declines, and various legal and tax contingencies - The company is implementing the "**DN Now**" transformation program to achieve **approximately $500 million** in gross annualized savings through **2021**. Restructuring charges related to this program were **$35.3 million** for the nine months ended September **30**, **2020**[73](index=73&type=chunk) - In July **2020**, the company issued **$700.0 million** and **€350.0 million** of Senior Secured Notes due **2025**. The proceeds were used to repay amounts outstanding under its Credit Agreement, extending its debt maturity profile[91](index=91&type=chunk)[95](index=95&type=chunk) - For the nine months ended September **30**, **2020**, revenue declined across all segments compared to the prior year: **Eurasia Banking fell 16.9%**, **Americas Banking fell 11.9%**, and **Retail fell 13.3%**[157](index=157&type=chunk) - The company divested several non-core businesses in **2020**, including Portavis GmbH and Cryptera A/S, and deconsolidated a portion of its China operations, resulting in a **net loss of $13.0 million** for the nine months ended September **30**, **2020**[108](index=108&type=chunk)[110](index=110&type=chunk)[111](index=111&type=chunk) [Item 2: Management's Discussion and Analysis of Financial Condition and Results of Operations](index=36&type=section&id=Item%202%3A%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial performance, strategic initiatives, and COVID-19 impact, highlighting the **DN Now** transformation, liquidity, and July **2020** debt refinancing [Overview and Strategy](index=36&type=section&id=Overview%20and%20Strategy) The company, a global leader in **'Connected Commerce'**, is executing the multi-year **'DN Now'** transformation program targeting **$500 million** in gross annual savings through **2021** - The company is executing a multi-year transformation program called **DN Now**, which is designed to generate **gross annual savings of approximately $500 million** through **2021**[171](index=171&type=chunk)[173](index=173&type=chunk) - Diebold Nixdorf has been designated as providing **'critical infrastructure'** services by most governments, enabling it to maintain operations and serve essential retailers and financial institutions during the **COVID-19 pandemic**[175](index=175&type=chunk) [Results of Operations](index=40&type=section&id=Results%20of%20Operations) Q3 **2020** net sales fell **7.7%** to **$995.2 million**, or **8.2%** in constant currency, but total gross margin improved from **25.2%** to **28.5%** year-over-year due to cost savings Net Sales by Segment - Q3 2020 vs Q3 2019 (in millions) | Segment | Q3 2020 | Q3 2019 | % Change | | :--- | :--- | :--- | :--- | | Eurasia Banking | $364.2 | $405.2 | (10.1)% | | Americas Banking | $368.5 | $403.7 | (8.7)% | | Retail | $262.5 | $269.9 | (2.7)% | | **Total net sales** | **$995.2** | **$1,078.8** | **(7.7)%** | Gross Profit and Margin Analysis | Metric | Q3 2020 | Q3 2019 | 9 Months 2020 | 9 Months 2019 | | :--- | :--- | :--- | :--- | :--- | | **Total gross profit** | $284.1M | $271.4M | $758.5M | $796.7M | | **Total gross margin** | 28.5% | 25.2% | 27.1% | 24.5% | - Services gross margin increased due to the company's **service modernization plan**, exiting **low-margin contracts**, and temporary cost benefits from **lower economic activity** during the **COVID-19 pandemic**[211](index=211&type=chunk) [Liquidity and Capital Resources](index=46&type=section&id=Liquidity%20and%20Capital%20Resources) As of September **30**, **2020**, total cash and availability was **$459.4 million**, with **$(209.4) million** net cash used by operating activities for nine months, following a **$1.1 billion** debt refinancing in July **2020** Total Cash and Availability (in millions) | Component | Sep 30, 2020 | Dec 31, 2019 | | :--- | :--- | :--- | | Cash and cash equivalents | $273.7 | $277.3 | | Revolving Facility Availability | $150.2 | $387.3 | | **Total cash and cash availability** | **$459.4** | **$808.5** | - In July **2020**, the company issued **approximately $1.1 billion** in new **2025** Senior Secured Notes and used the proceeds to repay existing debt under its Credit Agreement, extending its maturity profile with **no significant maturities until 2023**[251](index=251&type=chunk) - The ratio of net debt to trailing **12** months adjusted EBITDA was **4.4 times** as of September **30**, **2020**, and the company was **in compliance with its debt covenants**[252](index=252&type=chunk) [Item 3: Quantitative and Qualitative Disclosures About Market Risk](index=53&type=section&id=Item%203%3A%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company reports **no material changes** in market risk exposures since its **2019** Annual Report, aside from the **ongoing negative impact and uncertainty** of the **COVID-19 pandemic** - The company reports **no material changes** in its market risk exposures since December **31**, **2019**, but acknowledges the **ongoing negative impact and uncertainty** from the **COVID-19 pandemic**[275](index=275&type=chunk) [Item 4: Controls and Procedures](index=53&type=section&id=Item%204%3A%20Controls%20and%20Procedures) The company's disclosure controls and procedures were deemed **effective as of September 30, 2020**, with **no material changes** to internal control over financial reporting during Q3 - The CEO and CFO concluded that the company's disclosure controls and procedures were **effective as of September 30, 2020**[279](index=279&type=chunk) - **No changes in internal control over financial reporting** that materially affected, or are reasonably likely to materially affect, internal controls were identified during the third quarter of **2020**[280](index=280&type=chunk) Part II - Other Information [Item 1: Legal Proceedings](index=54&type=section&id=Item%201%3A%20Legal%20Proceedings) The company's routine legal proceedings are **not considered material** to its financial position, with **no material developments** since the **2019** Annual Report - The company states that its ongoing legal proceedings are **not expected to materially affect its financial statements**, and there have been **no material developments since year-end 2019**[282](index=282&type=chunk)[283](index=283&type=chunk) [Item 1A: Risk Factors](index=54&type=section&id=Item%201A%3A%20Risk%20Factors) The company refers to its **2019** Annual Report on Form **10-K** and Q1 **2020** Quarterly Report on Form **10-Q** for risk factors, reporting **no other material changes** - **No material changes to risk factors** were reported since the Q1 **2020** **10-Q**, with reference made back to the **2019** **10-K**[284](index=284&type=chunk) [Item 2: Unregistered Sales of Equity Securities and Use of Proceeds](index=54&type=section&id=Item%202%3A%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q3 **2020**, the company repurchased a small number of shares surrendered from share-based compensation plans, with **no repurchases** under its public buyback plan Share Repurchases in Q3 2020 | Period | Total Number of Purchased Shares | Average Price Paid Per Share | | :--- | :--- | :--- | | July | 288 | $10.78 | | August | 2,168 | $8.13 | | September | — | — | | **Total** | **2,456** | **$8.44** | [Other Items (Items 3, 4, 5 & 6)](index=54&type=section&id=Other%20Items%20%28Items%203%2C%204%2C%205%20%26%206%29) The company reported **no defaults** on senior securities, **no mine safety disclosures**, and **no other information** under Item **5**, with Item **6** listing filed exhibits - The company reported **'None'** for Item **3** (Defaults Upon Senior Securities) and Item **5** (Other Information), and **'Not applicable'** for Item **4** (Mine Safety Disclosures)[287](index=287&type=chunk)[288](index=288&type=chunk)[289](index=289&type=chunk) - Key exhibits filed include the **Ninth Amendment to the Credit Agreement** and indentures for the new **9.375%** and **9.000%** Senior Secured Notes due **2025**[291](index=291&type=chunk)

Financial Data and Key Metrics Changes - The company reported a sequential revenue improvement of approximately 12% in Q3 2020, totaling $995 million, with a 5% constant currency year-over-year decline when normalizing for divestitures [17] - Gross profit increased approximately $9 million to $285 million, driven by DN Now initiatives that resulted in a gross margin increase of 310 basis points [38] - Adjusted EBITDA of $130 million increased by 15% over the prior year period, with an adjusted EBITDA margin expanding by 230 basis points to 11.4% [39] Business Line Data and Key Metrics Changes - The banking business saw strong order growth, particularly for next-generation DN Series ATMs, with significant orders from major banks in the U.S., France, and Egypt [12][13] - In the retail segment, demand for self-checkout solutions surged, highlighted by a milestone deal with a pan-European grocery store operator for 14,000 self-checkout devices [14][15] - The services segment also performed well, with new contracts to service thousands of ATMs in Italy and Thailand, and a $3 million managed services contract in the U.S. [16] Market Data and Key Metrics Changes - The company experienced broad-based order growth across banking segments, with a notable rebound in Asia Pacific and strong activity in the Americas [65] - In Europe, order momentum varied, with Eastern Europe showing more strength compared to Southern Europe [65] - The retail segment's revenue declined by 6% in constant currency, primarily due to unplanned revenue reductions, but gross margin expanded significantly [47][48] Company Strategy and Development Direction - The company is focused on digital transformation and enhancing service offerings through the AllConnect Data Engine, which aims to improve operational efficiency and customer satisfaction [26][29] - The DN Now initiatives are expected to deliver around $160 million of savings in 2021, with a focus on higher free cash flow conversion and growth [60] - The company plans to leverage its DN Series recycling capability and expand its market reach for cloud-native debit software as part of its growth strategy [61] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate the challenges posed by the pandemic and highlighted a solid backlog and operating momentum [10][11] - The outlook for Q4 2020 is positive, with expectations for revenue of approximately $3.85 billion and adjusted EBITDA of around $440 million [55] - Management acknowledged the uncertain macroeconomic environment but emphasized the company's resilient operations and commitment to driving revenue growth and profit margin expansion [62] Other Important Information - The company tightened its 2020 outlook to the high end of its prior range, reflecting a balance of opportunities and risks from macroeconomic uncertainty [55] - The company expects to see a robust harvesting of working capital in Q4, driven by inventory management and improved payment patterns [90] Q&A Session Summary Question: Can you talk about the ATM business by region and DN Series uptake? - Management noted solid order activity across all regions, with a rebound in Asia Pacific and strong activity in the Americas, while DN Series is becoming the dominant order in many markets [65][67] Question: What are the unusually strong or weak parts of the business in Q3? - Management indicated that there were no unusual margin results in Q3, with improvements in services and software margins being sustainable [75][76] Question: How important is managed services to the P&L? - Managed services are not a material driver currently but are strategically relevant for future growth, particularly as financial institutions look to outsource more operations [84]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________ Form 10-Q __________________________________________________ ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-4879 ____________________________________ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________ Form 10-Q __________________________________________________ ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-4879 ___________________________________ ...