Epson Rebounds Strongly in Q1

Epson Rebounds Strongly in Q1

According to Epson, its revenue increased 46.0% year on year to ¥282.1 billion (US$2.57 billion) in the first quarter (Q1) ended June 30, rebounding strongly from the same period of the previous year.

Some other highlights include:

• Business profit rose 455.3% to ¥24.2 billion (US$220.73 million).
• Profit from operating activities was ¥23.6 billion (US$215.25 million), up 1,052.2% year on year.
• Profit before tax was ¥23.4 billion (US$213.43 million), up 1,932.6% year on year.
• Profit for the period attributable to owners of the parent company was ¥17.4 billion (US$158.70 million).

The OEM claims that the growth was due to:

• Businesses recovering from COVID19 impact
• Demand for home printing is still high
• Ongoing supply chain issues and component shortages
• Increased logistics and procurement costs
• Growth businesses steadily expanding, while mature businesses benefit from structural changes

“Results exceeded internal plans for the first quarter, which served as the basis for the previous outlook. Demand was stronger than expected in all segments, while sales prices saw an increase due to supply constraints,” said the spokesman of Epson.

By segment, revenue in the printing solutions segment turned out to be ¥192.3 billion (US$1.75 billion), up 43.1% year on year. Segment profit was ¥26.6 billion (US$242.60 million), up 55.7% year on year.

Despite ongoing supply chain issues, printer hardware sales increased especially for high-capacity ink tank printers amid strong demand for home printing.

“Overall, this segment saw top- and bottom-line growth amid market recovery from the effects of the pandemic,” said the spokesman of Epson.

Related:

• Epson Reports Mixed Results in Q4
• Epson Profits Increased in Q3
• Epson Sales Rebounds Back in Q2

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