Konica Minolta Holdings’ quarterly revenue during the April-June quarter fell 28% year-on-year to 173 billion yen (Rs 12,270 crore). “Affected by the lockdown in Europe and the US, office and professional print, which account for a little under 70% of sales in Europe and the US, as well as bio-healthcare, which accounts for almost all sales in the US, saw revenue greatly reduced,” the company said.
The office business segment recorded a revenue of 93.9 billion yen, a decrease of 30.2% year-on-year. The operating loss was 7.5 billion yen compared with an operating profit of 7.6 billion yen for the same period in the previous fiscal year.
The professional print business segment recorded revenue of 31.7 billion yen, a decrease of 37.2% year-on-year. The operating loss was 7 billion yen compared with an operating profit of 1 billion yen for the same period last year.
June pick-up for professional print
Unit sales of both color and monochrome models in June increased significantly over April-May. The year-on-year decrease was also somewhat improved. (April down 47%, May down 51%, June down 43%). Despite reductions, KM-1 demand is returning among mid-size and large printing companies, and KM-1e sales have begun. Label and embellishment printing equipment are also showing increases, the company said.
Operating loss during the current period was 22.6 billion yen compared with an operating profit of 0.6 billion yen in the same period last year. Due to the uncertainties created by the coronavirus pandemic, the company said no earnings forecast would be provided for FY2020-21, ending 31 March 2021, at this point.