Konica Minolta’s revenue recovered to 95% of FY19

The company has released its first quarter FY2021 financial results recording a year-on-year growth of revenues.

For the reporting period ended 30 June 2021, Konica Minolta recorded revenues of ¥229.9 billion ($2.1 billion/ €1.8 billion), up 33% year-on-year. The company said that “revenue recovered to 95% of FY19 level as a result of restored demand and increased revenue in growth fields.”

Konica Minolta’s digital workplace business segment which includes MFPs and IT services recorded revenues ¥121.2 billion ($1.1 billion/ €929 million), a 28% increase year-on-year. Operating profit for the business segment was ¥1.1 billion ($10 million/ €8.4 million), up from -¥9.6 billion (-$88 million/ -€74 million) during the same period of the previous year.

Konica Minolta explained that sales of hardware recovered due to the resumption of economic activity in each country, particularly the U.S. and Europe (up 29%, down 9% vs.FY19. Unit sales were up 26%, down 7% vs. FU19). Sales for non-hard were also up with recovery of print volume as expected, as employees returned to workplace at client companies (up 20%, a16% decline compared to FY19).

Revenue by region showed up 25% in Europe, which was heavily impacted by lockdowns in the previous year, and up 25% in the U.S. as well. Revenue was up 11% in Japan, and down 2% in China, where the impact was relatively modest in the previous fiscal year.

Initial forecasts released on 14 May 2021 were left unchanged.