Hudson-based Diebold Nixdorf expects to see improved revenue during 2022 as the company carries a backlog of $150 million in sales into the new year.
Supply chain and logistics issues deferred revenue from 2021 to 2022, the company reported Thursday. The company saw delays with shipping products and receiving components during the fourth quarter.
Separately the company, which relocated headquarters to Hudson from Green late last year, announced that Gerrard Schmid would be leaving as president and chief executive officer in March. Octavio Marquez, executive vice president for global banking, is taking over those duties.
During a conference call with stock analysts, Schmid reviewed the past year and introduced Marquez.
For the year, Diebold Nixdorf reported a loss of $78.8 million, or $1.01 per share, down from a loss of $269.1 million, or $3.47 per share, in 2020. Revenue improved slightly to $3.905 billion from $3.902 billion.
During the fourth quarter that ended Dec. 31, the company loss was $38.2 million, or 49 cents per share, compared with the 2020 loss of $51.2 million, or 66 cents per share. Revenue slipped to $1.06 billion from $1.11 billion the previous year.
Services for automated teller machines and retail check-out equipment accounted for more than $2.3 billion of revenue during the year, while products accounted for $1.6 billion.
Schmid told analysts that Diebold Nixdorf saw business with the five largest banks in the United States increase during 2021. The company also is making inroads in the United States and Australian markets with its self-service retail check-out equipment.
During the last half of 2021, Diebold Nixdorf began servicing electric vehicle charging stations. Schmid said the company has contracts to service several thousand stations in the United States and Europe. The company expects the market, which Schmid described as highly fragmented, to grow as sales of electric vehicles increases.
Diebold Nixdorf expects revenue to increase during 2022 and projected a range between $4 billion and $4.2 billion.
Jeff Rutherford, executive vice president and chief financial officer, said the guidance reflects caution because of continuing issues with logistics and supply chain environments.
Rutherford also told analysts that the company has completed its DN Now restructuring program, which began after Schmid became president and CEO in 2018.
