The company has published its full-year 2022 results and fourth quarter results, posting revenue growth of 19.1%.
Revenue was ¥335.9 billion ($2.5 billion/ €2.25 billion), up 19.1% up year-on-year and business profit was up 13.3% year-on-year at ¥14.3 billion ($105.12 million/ €95.65 million).
The printing solutions business segment revenue was ¥240.1 billion ($1.76 billion/ €1.61 billion), up 20.6% year-on-year. Epson explained that in office and home printing, revenue increased but profit decreased.
Inkjet printer unit sales grew by 10% year-on-year, with high-capacity ink tank printers leading the way as supply constraints eased.
Ink revenue increased by 6%. Although ink cartridge sales declined as at-home print demand returned to normal, increased sales of high-capacity ink bottles and foreign exchange effects pushed total ink revenue higher.
Office shared inkjet printer revenue grew sharply due to the easing of supply constraints, an increase in ink sales as office printing recovered, and the launch of new products, Epson added.
For fiscal year 2023, Epson forecasts revenue and business profit growth. Office and home inkjet printer and commercial and industrial inkjet printer unit sales are expected to grow due to easing of supply constraints, while a decrease in selling prices is reflected as the balance between supply and demand change. Logistics costs are expected to fall due to revision of ocean freight rates.
