Epson publishes latest results
October 27, 2023
The company reported a small increase but continues to say that the future global economic situation stays uncertain.
Epson reported that the positive effects of a weaker yen helped to boost revenue to ¥638.5 billion ($4.26 billion/ €4.03 billion), an increase of 0.9% from the prior-year period, with the printing solutions segment the primary beneficiary. Business profit was ¥24.4 billion ($162.62 million/ €153.94 million), down 50.7% from the prior-year period, due to exchange rate effects.
The company explained revenue in the office and home printing business increased. While unit sales of ink cartridge printers sharply decreased, inkjet printer revenue slightly increased.
Revenue in the printing solutions segment was ¥437.3 billion ($2.91 billion/ €2.76 billion), up 5.8% 1from the prior-year period. Segment profit was ¥37.3 billion ($248.6 million/ €235.4 million), down 6.0% from the prior-year period.
Revenue benefitted from an increase in unit sales of high capacity ink tank printers, sharp growth in sales of office shared inkjet printers with the launch of new linehead inkjet printers, and positive foreign exchange effects. In inkjet printer consumables, ink cartridge sales increased slightly due to positive foreign exchange effects while sales of ink bottles for high-capacity ink tank printers and ink for office shared printers sharply increased.
Sales of small printers increased due to positive foreign exchange effects, though market demand declined in Europe and North America as inflation and other factors caused the market to deteriorate, according to Epson.
Categories : City News
Tags : Business Epson Financials OEM Sales
