Konica Minolta shows recovery
October 29, 2020
In its latest financial report, Konica Minolta said overall the company is seeing recovering demand which meant year-on-year decrease was reduced from 28% to 17%.
For the second quarter, Konica Minolta recorded revenue of ¥211.5 billion ($2.03 billion/ €1.73 billion), a year-on-year decrease of 17%, which is an improvement on the year-on-year decrease of the first quarter which was 28%. Operating profit for the quarter was -¥5.2 billion (-$49.98 million/ -€42.63 million).
Konica Minolta said that in China it saw increased revenue, in Europe it saw a little less than 90% return, and the Japan and US recovery is a little less than 80%. By segment, print lagged behind in the office segment, but improved significantly quarter-on-quarter. Revenues for the office business segment in the second quarter was ¥138.6 billion ($1.33 billion/ €1.14 billion), a year-on-year decrease of 16% but a quarter-on-quarter increase of 23%.
For the Office segment, Konica Minolta said that its China sales are sustaining their momentum from June, when revenue turned to increase, Europe is at over 80% year-on-year, and the US is at over 75%, but recovering steadily.
Konica Minolta expects that print volumes in FY21 will reach 90% relative to FY19 annually, after which it will decline at an annual rate of 3-4%. The company expects that work from home will continue at a rate about midway between pre-COVID-19 and the lockdown
Period and demand for automation and computerisation of documents and operations is expanding.
In its forecast, for the FY21, Konica Minolta expects sales revenues of ¥870 billion ($8.36 billion/ €7.13 billion), with the office segment revenues expected to be ¥460 billion ($4.42 billion/ €3.77 billion).
Categories : City News
Tags : Business Financials Konica Minolta OEM
