EPSON's profit up in Q2 Results

Epson has released its results for second quarter of fiscal year 2024.

Q2 Financial Performance:

Revenue and Profit: Revenue saw a slight increase, while business profit experienced a significant rise. This improvement was driven by expanded sales in printing solutions and effective cost reductions across various business segments.

·      Revenue: ¥337.5 billion, a 4.3% increase from ¥323.6 billion in the same period last year.

·      Business Profit: ¥27.5 billion, representing an 8.2% margin and a significant rise from ¥8.8 billion (2.7% margin) in the previous year.

·      Profit from Operating Activities: ¥12.4 billion, up from ¥8.2 billion.

·      Profit Before Tax: ¥5.9 billion, a decrease from ¥10.0 billion.

·      Profit for the Period Attributable to Owners of the Parent Company: ¥4.1 billion, down from ¥7.2 billion.

·      Earnings Per Share (EPS): ¥12.50, compared to ¥21.99 previously.

These results indicate a notable increase in revenue and business profit despite declines in profit before tax and net profit. The company attributes the improved business profit to expanded sales in printing solutions and effective cost reductions across various business segments. 

Strategic Acquisition:

Fiery, LLC Acquisition: Epson has acquired Fiery, LLC to create synergies that will accelerate the digitalisation of commercial and industrial printing markets. The current financial outlook does not include the impact of this acquisition.

Overall, Epson's Q2 results and report to investors reflect strategic growth in printing solutions and proactive cost management. The company says this positions it to navigate economic challenges and pursue opportunities in digital printing.