Konica Minolta Releases FY 2023 Results

Konica Minolta Releases FY 2023 Results

Konica Minolta has recently disclosed its financial results for fiscal year 2023, ending on March 31, 2024.

The company reported record-high revenue, reaching JPY￥ 1,160 billion (USD$ 7.45 billion), while also achieving positive gross profit for the first time since 2018. Operating profit exceeded initial targets by a significant margin, and cash flow notably increased, primarily driven by a focused approach on operational cash flow management. Although sales saw a slight decline after adjusting for exchange rate effects, overall stability was maintained, attributed to the clearance of order backlogs in the office business segment.

Throughout the whole year, demands for digital workplace solutions and professional printing plummeted greatly, and labour costs increased globally. However, these factors were offset by the normalization of logistics, positive effects of foreign exchange rates, and control on production costs. Consequently, revenue across all segments experienced growth, with the digital workplace segment particularly notable, achieving a substantial 53% increase in operating profit.

While hardware sales for digital workplace solutions remained at 90% of the previous year’s level, excluding the effects of the backlog, they demonstrated a stable developmental trajectory, increasing to 104%. Sales of A3 models, both color and monochrome, experienced slight decreases to 87% and 80% respectively compared to fiscal year 2022.

Looking ahead, Konica Minolta has set revenue targets aligned with 2023 figures, incorporating a slight 3% increase, accounting for factors such as business transfers and foreign exchange rates. Similarly, the company anticipates stable growth of 5.6% in the digital workplace segment, mirroring the performance of the previous fiscal year.

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