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Konica Minolta turns profit back to black

Konica Minolta turns profit back to black

February 2, 2021

The company has released its latest consolidated financial results for the third quarter which ended 31 December 2020.

During the third quarter, performance recovered from -28% year-on-year to -8% in the third quarter. Revenue for the third quarter FY2020 was recorded as ¥230.2 billion ($2.19 billion/ €1.82 billion). Konica Minolta’s Digital workplace business segment which includes MFPs and IT services recorded revenues of ¥125 billion ($1.19 billion/ €988.8 million) a year-on-year decrease of 10%. Konica Minolta said that as expected within the digital workplace segment, new product sales grew with a focus on the key market of Europe.

In its predictions for the fourth quarter, the company said that it expects print volume will be bout 90% year-on-year in Q4, in FY21 Konica Minolta expects print volumes will reach 90% relative to FY19 annually, after which it will decline at an annual rate of 3 – 4%. Work from home will continue at a rate about midway between pre-COVID-19 and the lockdown period. The company said that it expects demand for automation and computerization of documents and operations to expand.

Previous financial forecasts have remained unchanged.

Categories : City News

Tags : Business Financials Konica Minolta OEM

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