Konica Minolta Demonstrates Steady Growth in 2024 Q2

Konica Minolta Demonstrates Steady Growth in 2024 Q2

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

The company saw an overall growth in the second quarter as well as the past 6 months. Business contribution profit in particular saw greater improvement, up by 154% and 679% each. The surge is mainly attributed to the profit increase in office and production printing business and a direction change from non-focused businesses. Loss is recorded in profit attributable to owners of the company primarily as the result of unfavorable foreign exchange rate and continued high tax expenses.

During the last six months, Konica Minolta recorded a revenue of JP￥583.7 billion (US$ 3.8 billion) and gross profit of JP￥260.7 billion (US$ 1.7 billion), up by 6% and 10% each compared to the same period last year. Breaking down into different segments, the Digital Workplace business contributed JP￥307.6 billion (US$ 2 billion) to the total revenue, marking a year-on-year increase by 4.5%. Despite that sales all A3 MFP models remain flat, hardware revenue saw an increase. For non-hardware products including consumables and services, an overall growth is recorded even though revenues decreased in Japan, China, Europe and the U.S.

As disclosed previously, Konica Minolta is undergoing organizational changes. One of its moves within the past 6 months is the shutdown of production in Wuxi, China, which resulted in an operating loss of JP￥0.7 billion (US$ 4.5 million) for the current period. Looking forward, the company will continue to accelerate its global structural reform and change of business focus as part of its medium-term business plan.

Related:

• Konica Minolta to Transfer Production Site in Wuxi China
• Konica Minolta Releases 2024 Q1 Results
• Konica Minolta & Fujifilm Sign Joint Venture Agreement
• Konica Minolta and Fujifilm Explore Potential Collaboration
• Konica Minolta Shares Jump on the Back of 2400 Job Cuts

Comment:

Please leave your comment below about the news: Konica Minolta Demonstrates Steady Growth in 2024 Q2.