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UPDATE 2-Germany's Wincor posts profit rise, reaffirms target

Thu Jul 24, 2008 4:53am EDT
 
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DUESSELDORF, Germany, July 24 (Reuters) - German cash machine maker Wincor Nixdorf (WING.DE: Quote, Profile, Research, Stock Buzz) posted a 9 percent rise in its third-quarter core earnings, in line with forecasts, thanks to brisk business with banking clients.

The company also reaffirmed its full-year targets despite difficult economic conditions.

"We remain committed to increasing net sales by 8 percent and EBITA by 10 percent," Chief Executive Eckard Heidloff said, adding that the company would consider a higher dividend for the current fiscal year.

"If we reach our targets we will talk about raising our dividend", he told Reuters. For 2006/2007 Wincor paid out a dividend of 1.83 euros per share plus a special dividend of 90 cents.

Earnings before interest, tax and amortisation (EBITA) rose to 51 million euros ($80 million) in its fiscal third quarter which ended in June, while sales rose 7 percent to 555 million.

Analysts polled by Reuters had on average expected EBITA to rise to 50 million euros and sales to total 561 million euros.

Wincor Nixdorf's share price was down 2.5 percent at 0817 GMT, underperforming Germany's mid-cap index MDAX .

"The figures are mainly in line with the consensus and our estimates", said Thorsten Reigber, an analyst at DZ Bank.   Continued...

 

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