Konica Minolta Reports Slight Revenue Growth in Q3
“Despite a robust recovery in real demand, the order backlog (approx. JPY¥33.0 billion (US$289.80 million)) was high and revenue increased only slightly, mainly owing to delays in the procurement of semiconductors and other components,” said Shoei Yamana, President and CEO of Konica Minolta, commenting on its results for the second quarter that ended September 30, 2021.
According to Konica Minolta, revenue turned out to be JPY ¥215.2 billion (US$1.89 billion) in Q2, up 2% year-over-year. Operating profit recovered by around net JPY ¥3.0 billion (US$26.34 million), when the effects of subsidies, etc., in Q2 were considered. The OEM reveals that industry profit remained high, and SG&A for the company overall remained under JPY¥100.0 billion (US$878.16 million).
By segment, professional print revenue increased 9% to JPY ¥45.6 billion (US$400.42 million) in Q2, while operating profit increased 1.1% to JPY ¥0.5 billion (US$4.39 million). In the segment, hardware real demand was more than expected. Order backlog was approx. JPY¥6.0 billion (US$52.69 million) from curbs on the installation of new equipment following toner shortage caused by accident at toner factory.
Konica Minolta revised downward its forecast for FY2021 by JPY¥24.0 billion (US$210.74 million) considering lower gross profit from a decline in revenue, mainly owing to hardware supply limits, as well as progress in the first half.
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