Madrid-based Siemens Nixdorf Espana SA reported sales growth of 100% for the 1995 fiscal year ending September 30, with sales jumping to $275.4m from $137.7m. Despite the spectacular growth, losses of $2.5m were announced. Spanish arm chief, Antonio Torrents says the company sold 28,000 personal computers in 1995 and hopes to top 40,000 units in 1996. Staff levels have almost halved over the last two years, 656 are now employed, compared with 1,191 in 1993. Finally, the turnover figures were boosted by some $82m due to the absorption of a subsidiary of the group that specializes in leasing. Torrents put the losses down to the high costs of restructuring, the fall in profit margins, and the devaluation of the peseta against the Deutschmark. Corporate president Gerard Schulmeyer suggested that the subsidiary had to change the mix of its sales, with less emphasis to be placed on products and more on services and implementation.
