Canon posts sales and profit growth

January 30, 2023

The company has announced its full-year 2022 results, saying product supply recovered.

Canon posted net sales FY2022 projections of ¥4,031.4 billion ($31.03 billion/ €28.46 billion), an increase of 14.7% year-on-year. Gross profit was posted at ¥1,827.8 billion ($14 billion/ €13 billion), an increase year-on-year of 12.3%. For the Printing business unit, net sales were ¥2,261.9 billion ($17.4 billion/ €16 billion), a year-on-year increase of 16.7% but profits were down 6.1% year-on-year at ¥212 billion ($1.6 billion/ €1.5 billion).

For office printing, Canon explained that in 2022 the company managed increased revenue through expanded sales of medium-to high-speed equipment and increased service revenue. For 2023 it is looking to increase service revenue through expansion of install driven by unit sales growth facilitated by supply recovery.

Canon predicts FY2023 net sales to be ¥4,287 billion overall ($33 billion/ €30 billion), a 6.3% increase year-on-year.