Ricoh sales rose but earnings declined

November 8, 2023

Ricoh released its first half year consolidated financial results, recording increased sales by 14.3% year-on-year.

For the reporting period, Ricoh recorded sales of ¥1,112.5 billion ($7.38 billion/ €6.91 billion), which is an increase of 14.3% year-on-year. Unit sales of MFPs recovered less than expected amid ongoing production adjustments and product mix impacts.

Ricoh said its sales mix weaker than expected for Office Printing hardware, with Ricoh Industrial Solutions thermal products experiencing market inventory adjustments and weaker demand.

Hardware sales rose 8%, controlled pricing to overcome unit sales shortfall. Non-hardware sales were down 2%, which was broadly as expected, according to Ricoh. Sales for the segment during the reporting period were ¥883.3 billion ($5.86 billion/ €5.49 billion).

Forecasts for the full year were only slightly changed upwards.

Categories : City News

Tags : Business Financials OEM Ricoh