Konica Minolta Releases 2024 Q1 Results

Konica Minolta Releases 2024 Q1 Results

Konica Minolta has reported its financial performance for the first quarter of fiscal year 2024, ending on June 30, 2024.

Overall, increases were noted in sales of all segments, and business contribution profit saw even greater improvement. On the other hand, despite drops in operation profit due to the undergoing structural reform, it still experienced growth compared to the same period last year. Thanks to an enhanced financial foundation, a better cash flow was also observed in the first quarter.

The company recorded a revenue of JPY￥286.2 billion (USD $1.92 billion) and gross profit of JPY￥126.4 billion (USD $0.84 billion), up by 7% and 13% each compared to the same period last year. Influenced by a favorable foreign exchange rate, sales in all regions excluding Japan saw increases. Although the inapplicable tax of its European and American subsidiaries had an effect on the company, Konica Minolta managed to offset it through business transfer.

As part of the organizational changes, Konica Minolta now categorizes both commercial printing and digital workplace businesses into one segment: business technologies. For the Digital Workplace segment in the first quarter, the total revenue amounted to JPY￥152 billion (USD $1.02 billion). Sales of A3 color devices dropped to 90% compared to last year, while monochrome model sales remained relatively stable. Benefiting from the exchange rate, non-hardware services experienced growth in China, India and Australia. However, despite firm demands, order backlogs were still recorded in June, which was caused by longer shipment, particularly to Europe, avoiding the Suez Canal.

For the rest of the fiscal year, Konica Minolta expects a constantly weak yen exchange rate despite temporary uptick, and hence forecasts a same target as last year. The future focus will be on the global structural transformation, which is currently in progress.

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• Konica Minolta Announced Financial Results for Q3

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