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Konica Minolta records revenue increase of 7.6%

Konica Minolta records revenue increase of 7.6%

February 1, 2022

In its latest financial results, Konica Minolta said it did not reach its forecasted revenue and operating profit for the period, which was caused due to supply delays and longer lead times.

The Group recorded a revenue of ¥661.5 billion ($5.8 billion/ €5.1 billion), an increase of 7.6% year-on-year during the current period. Gross profit also went up by 9.8% year-on-year.

Konica Minolta said that in the office unit, although the number of orders of A3 multi-functional peripherals (MFPs) showed signs of recovery for three consecutive periods since the first quarter ended 30 June 2021, sales volumes of colour models, monochrome models, and all models in the nine months ended 31 December 2021 went down to 78%, 86%, and 81% of the year-before levels, respectively, due to delays in production caused by the shortage of semiconductors and other materials, and the increased impact of prolonged transport periods because of congestion at ports since the three-month period ended 30 September 2021.

The company added that the resurgence of COVID-19 cases in Europe and the United States forced employees to delay coming back into client companies’ office sites. While this caused a stagnated recovery in non-hardware revenue, such as consumables and services, its overall revenue surpassed year-before levels.

The overall revenue in the office unit decreased year-on-year. In addition, an order backlog for the whole unit increased from approximately ¥30.0 billion ($262 million/ €232 million) during the three-month period ended 30 September 2021 to approximately ¥48.5 billion ($423 million/ €375 million) during the current accounting period, the company said.

The Digital Workplace Business segment recorded a revenue of ¥337.7 billion (2.9 billion/ €2.6 billion) in the current period, a decrease of 0.8% year-on-year.

Categories : City News

Tags : Business Financials Konica Minolta OEM

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