Epson releases latest financials
October 28, 2022
The company’s second quarter results were negatively impacted by ongoing supply constraints and rising material and logistics costs.
Epson has announced it second quarter results, recording revenue of ¥335.2 billion ($46.23 billion/ €46.48 billion), up 24.9% year-on-year. Epson said in its presentation that “selling prices were adjusted according to the balance between supply and demand amid ongoing supply constraints and soaring materials and logistics costs. Revenue, business profit, and profit for the period received positive impacts from exchange rate volatility.”
Within Epson’s Printing Solutions segment, revenue was ¥215.5 billion ($29.72 billion/ €29.88 billion), up 17.6% year-on-year, but profits were down 34.2%. Epson said: “With supply constrained due to semiconductor shortages, we increased revenue by dynamically adjusting prices based on the balance between supply and demand, but profit declined mainly due to soaring material and logistics costs.”
Within office and home printing inkjet printer unit sales were flat year-on-year, but revenue increased on dynamic pricing and foreign exchange effects. Sales of high-capacity ink bottles increased but profit declined due to a combination of soaring material and logistics costs and the strong dollar, Epson explained.
Epson is raising the revenue outlook to ¥1,390 billion ($191.79 billion/ €192.91 billion), an increase of ¥30 billion ($4.14 billion/ €4.16 billion) from the previous outlook, but it is leaving the business profit outlook unchanged at ¥100 billion ($13.79 billion/ €13.88 billion).
Categories : City News
Tags : Business Epson Financials OEM
