Diebold Nixdorf Renews and Expands Services Contract with Marks & Spencer
11/21/24, 1:11 PM
Location
Type
contract
Marks & Spencer, one of the largest retailers in the U.K., has renewed and expanded the scope of its services contract with Diebold Nixdorf for an additional four years. The agreement includes support services for the entire store estate, managed services for self-checkout technology and self-order terminals in the digital cafés, and implementation services for M&S stores and distribution centers.
Company Info
Location
hudson, new york, united states
Additional Info
The company also provided an update on its financial activities. Additionally, the company is providing the following forecasted number of revenue units by product by year:Units FY2022 FY2023 FY2024 ATMs 52,000 60,000 63,000 SCOs 25,000 35,000 40,000 ePOS 127,000 134,000 134,000 Demand for Diebold Nixdorf's products and solutions remains strong. The company remains focused on its customers as a global leader in banking and retail technology, automation and related services. The company has a presence in more than 100 countries with approximately 22,000 employees worldwide. Although the company believes that these forward-looking statements are based upon reasonable assumptions regarding, among other things, the economy, its knowledge of its business, and key performance indicators that impact the company, these forward-looking statements involve risks, uncertainties and other factors that may cause actual results to differ materially from those expressed in or implied by the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.The factors that may affect the company's results include, among others:the participation by company's lenders and noteholders in the transactions contemplated by the TSA, the ability to negotiate and execute definitive documentation with respect to the transactions contemplated by the TSA, the receipt of required consents to any or all of such transactions, satisfaction of any conditions in any such documentation, the availability of alternative transactions, the impact of publicity surrounding negotiations related to a potential transaction;the overall impact of the global supply chain complexities on the company and its business, including delays in sourcing key components as well as longer transport times, especially for container ships and U.S. trucking, given the company's reliance on suppliers, subcontractors and availability of raw materials and other components;the ultimate impact of the ongoing COVID-19 pandemic and other public health emergencies, including further adverse effects to the company's supply chain, maintenance of increased order backlog, and the effects of any COVID-19 related cancellations;the company's ability to successfully meet its cost-reduction goals and continue to achieve benefits from its cost-reduction initiatives and other strategic initiatives, such as the current $150m+ cost savings plan;the success of the company's new products, including its DN Series line and EASY family of retail checkout solutions, and EV charging service business;the impact of a cybersecurity breach or operational failure on the company's business;the company's ability to generate sufficient cash to service its debt or to comply with the covenants contained in the agreements governing its debt and to successfully refinance its debt;the company's ability to attract, retain and motivate key employees;the company's reliance on suppliers, subcontractors and availability of raw materials and other components;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 success in divesting, reorganizing or exiting non-core and/or non-accretive businesses and its ability to successfully manage acquisitions, divestitures, and alliances;the ultimate outcome of the appraisal proceedings initiated in connection with the implementation of the Domination and Profit Loss Transfer Agreement with the former Diebold Nixdorf AG (which was dismissed in the company's favor at the lower court level in May 2022) and the merger/squeeze-out;the impact of market and economic conditions, including the bankruptcies, restructuring or consolidations of financial institutions, which could reduce the company's customer base and/or adversely affect its customers' ability to make capital expenditures, as well as adversely impact the availability and cost of credit;the impact of competitive pressures, including pricing pressures and technological developments;changes in political, economic or other factors such as currency exchange rates, inflation rates (including the impact of possible currency devaluations in countries experiencing high inflation rates), recessionary or expansive trends, hostilities or conflicts (including the conflict between Russia and Ukraine), disruption in energy supply, taxes and regulations and laws affecting the worldwide business in each of the company's operations;the company's ability to maintain effective internal controls;unanticipated litigation, claims or assessments, as well as the outcome/impact of any current/pending litigation, claims or assessments;the effect of changes in law and regulations or the manner of enforcement in the U.S. and internationally and the company's ability to comply with government regulations.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, 2021, its Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2022, and in other documents the company files with the SEC. Except to the extent required by applicable law or regulation, the company undertakes no obligation to update these forward-looking statements to reflect future events or circumstances or to reflect the occurrence of unanticipated events.