Konica Minolta deals with order backlogs
July 29, 2022
In its latest financial results, Konica Minolta said that although its Digital Workplace Business received stable orders, order backlog increased due to lockdowns in Shanghai as well as semiconductor and other components shortages.
In its first quarter FY2022, Konica Minolta has recorded a year-on-year growth of 8% overall at ¥247.8 billion ($1.87 billion/ €1.82 billion). Growth profit increased 3% year-on-year at ¥104.8 billion ($789 billion/ €771 billion).
In its Digital Workplace segment, Konica Minolta recorded ¥128.9 billion ($971 million/ €949 million) of revenue, a year-on-year increase of 6%. The company said that its sales of hardware and non-hardware increased and toner supply improved as expected, but the company faced delays in and shipping hardware due to Shanghai and localised lockdowns.
For the full year 2022 revenue, Konica Minolta predicts ¥520 billion ($3.92 billion/ €3.83 billion), a year-on-year increase of 12%. As part of its initiatives for 2022 the company said that it is planning to revise manufacturing strategies in consideration of geopolitical risk (including partner strategies) in the medium- to long-term perspective as well as implement structural reforms to make sales, services and its management more efficient.
Categories : City News
Tags : Business Financials Konica Minolta OEM
