Konica Minolta has announced H1 and Q2 results
November 6, 2023
In a market characterised by economic swings, Konica Minolta navigates through with a rise in revenues but faces a downturn in profits for the first half of the year.
Konica Minolta’s H1 results presented a contrasting scenario with revenues increasing but profits declining compared to the previous year, though slightly surpassing company forecasts. The firm reported a Q2 business contribution profit of ¥6.4 billion (€39.8 million / $42.8 million) and ¥2.3 billion (€14.3 million / $15.4 million) over H1, a return to profitability.
While the office and precision medicine divisions expanded, production print and sensing declined. The company advanced strategically, concluding a Strategic Alliance Agreement for its optical components unit and reassessing other business avenues.
Revenue rose in Digital Workplace and Industry segments but not in Professional Print and Healthcare. Despite an increase in personnel costs due to higher wages, SG&A expenses were managed effectively, remaining flat year-over-year. This, along with reduced production and logistics costs, helped improve the business contribution profit margin.
A notable improvement in Free Cash Flow (FCF) was achieved, powered by a robust operating cash flow (CF) that turned positive at ¥31.8 billion (€197.6 million / $212.5 million) following a working capital reduction.
H1 revenues amounted to ¥552.8 billion (€3.4 billion / $3.7 billion), marking a 4% increase when currency fluctuations are factored out.
In Production Print, hardware sales struggled, with colour and monochrome model sales below last year’s levels. The Industrial Print sector saw a narrower deficit, and Marketing Service profits rose.
Categories : City News
Tags : 2023 Business Financials H1 Konica Minolta Q2
