Ricoh’s profit skyrocket

May 9, 2023

The company has released its full year 2022 results, recording an operating profit increase of 97%.

Ricoh’s full year sales were ¥2,134.1 billion ($15.82 billion/ €14.41 billion, a year-on-year increase of 21.4%. Ricoh said that revenues and earnings rose in all quarters.

For the office printing segment, Ricoh said that product supply and logistics improvements helped trim order backlogs. Q4 unit sales gains were 43% YoY for MFPs, including 103% and 24% for A4 and A3 models, respectively. Non-hardware sales rose on gradual demand recoveries.

Sales for the office services were ¥1,650.4 billion ($12.24 billion/ €11.15 billion), an increase of 15.6% year-on-year.

For 2023, Ricoh is projecting net sales to rise to ¥2,250 billion ($16.7 billion/ €15.2 billion) and operating profit to decline to ¥70 billion ($519 million/ €473 million).