COVID-19 prompts Diebold Nixdorf to update business outlook

As a response to COVID-19, Diebold Nixdorf is accelerating its DN Now business strategy, promoting operational simplicity and implementing incremental-cutting initiatives as it continues to strengthen its financial position in the business community.

"We have been hard at work prioritizing the health and safety of our employees, while maintaining outstanding service to customers," CEO Gerrard Schmid, said in a company press release. "While conditions remain dynamic, I am extremely proud of how our team has responded to recent events."

The company said it had ample liquidity, and its offerings are designated as essential by the U.S. Department of Homeland Security as well as numerous states, local and international government.

Diebold has maintained public-safety standards, and its service engineers have followed strict sanitizing and health protocols as well as providing technological support for financial institutions and key retailers during the pandemic. At the same time, however, the company has encountered product installation disruptions and challenges due to the coronavirus that impacted its ability to forecast product revenue. The decision was made in light of these developments to withdraw its full-year financial outlook at this time.

"We have taken actions to avoid major disruptions to our supply chain during our first quarter and Diebold Nixdorf is performing an essential role by enabling vital commerce activities at our customer locations," Schmid said. "We will continue to carefully manage costs and cash as conditions warrant.  We expect to resume our practice of providing an annual outlook after business conditions return to a more normal environment." 

The company has presence in more than 100 countries and employs 22,000 people worldwide.