Konica Minolta Q1 Results in Line with Forecasts
According to Konica Minolta, revenue turned out to be ¥ 229.9 billion (US$2.10 billion) for the first quarter (Q1) ended June 30, up 33% comparing to the same period last year.
“Revenue recovered to 95% of the fiscal year 2019 level as a result of restored demand and increased revenue in growth fields. By business, revenue increased year on year in all businesses,” said Toshimitsu Taiko, senior executive vice president and executive office of Konica Minolta.
As revenue recovered, gross profit amount also improved year on year. The gross profit ratio improved 2.7 points. Operating profit recovered ¥25.7 billion (US$234.40 million) year on year in the first quarter, to ¥3.1 billion (US$28.27 million).
By segment, revenue increased year on year in all businesses. Professional print revenue turned out to be ¥47.9 billion (US$436.77 million) in Q1, up 51% comparing with the same period last year. Professional print profit turned out to be ¥1 billion (US$9.12 million).
For the fiscal year 2020 ended March 31, 2021, Konica Minolta reported a 13.3% year-over-year decline in revenue, which turned out to be JPY￥863.38 billion (US$7.89 billion). Gross profit declined 19.7% year-over-year to JPY￥374.6 billion (US$3.42 billion).
During fiscal year 2020, Konica Minolta operating profit, profit before tax and Profit attributable to owners of the company all registered loss. Operating loss was JPY￥16.2 billion (US$148.12 million), partly due to a recording of JPY￥8.0 billion (US$73.14 million) as for expenses related to the structural reform in the current fiscal year, whereas operating profit of JPY￥8.2 billion (US$74.97 million) was marked in the previous year.
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