The OEM reported its first quarter results, saying they were negatively affected by supply chain constraints, which caused unit sales to decrease.
For the reporting period Epson recorded ¥297.8 billion ($2.24 billion/ €2.19 billion) in revenue, a 5.6% increase year-on-year. Business profit slightly decreased (-6.6%) year-on-year at ¥22.6 billion ($170 million/ €166 million).
For the Printing Solutions business segment revenue was ¥197.6 billion ($1.49 billion/ €1.46 billion), a year-on-year increase of 2.8%. Epson said: “With supply constrained due to semiconductor shortages and the Shanghai lockdown, we increased revenue by dynamically adjusting prices based on supply and demand, but profit declined due to soaring material and logistics costs, etc.”
Inkjet printer unit sales decreased, but revenue increased due to dynamic pricing. Sales of ink bottles and ink for office shared inkjet printers increased. Business unit profit increased despite soaring material and logistics costs.
For the full year 2022 Epson has changed its predicted total revenues to be ¥1,360 billion ($10.23 billion/ €10.02 billion), a year-on-year increase of 20.5%.
