Konica Minolta sees mixed results
February 1, 2024
In the third quarter, Konica Minolta experienced a revenue decrease, yet saw a cumulative increase over time.
Operating profit declined to ¥7.8 billion ($53 million/ €49 million) in Q3 but achieved a cumulative increase to ¥8.6 billion ($58 million/ €54 million) for the nine months period. This financial performance was characterised by gains in the Office and Performance Materials sectors, while the Sensing and Medical Imaging sectors saw declines.
Additionally, an impairment loss was recorded in the Visual Solutions sector, specifically impacting the planetariums business.
Konica Minolta’s Digital Workplace segment performance highlights include:
- Hardware sales were strong, achieving 85% of targets, or 112% when excluding the elimination of the previous year’s order backlog. There was a notable performance in unit sales, with A3 colour models at 81% and A3 monochrome models at 100%.
- Non-hardware (Non-hard) performance stood at 96%, or 98% when excluding the impact of the previous year’s order backlog elimination, with mixed regional results: decreases in Japan, the U.S., and China, but increases in Europe and India.
- The office sector saw profit growth driven by production cost reductions, lower logistics and air transport expenses, among other factors, alongside growth in office solutions.
Revenue for the third quarter was ¥156.1 billion ($1.06 billion/ €982 million), a year-on-year decrease of 2% but for the nine months period, accumulated revenue increased by 3% to ¥450.6 billion ($3.06 bilion/ €2.8 billion).
The forecast for the full year, remained the same.
Categories : City News
Tags : Business Financials Konica Minolta OEM Sales
