World Imaging News introduces a new quarterly feature covering the sales and profits of the world’s Top 15 graphics imaging companies.
This report provides an overview of the WIN Top 15 publicly traded graphics imaging companies for the quarter ending December 31, 2023.
Important Notes:
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Data Source: Information is compiled from Google Finance.
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Exchange Rates: Currency conversions use exchange rates from March 18, 2024.
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Printing Segment: Data for the printing segment, when available, comes from company quarterly reports.
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Conglomerates: It’s challenging to isolate printing revenue for companies operating in multiple industries. Therefore, comparisons may not be perfectly equivalent.
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% Changes: based on Year-over-Year comparisons
Revenue Leaders
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HP USD 13.9B
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Canon USD 9.67B
Profit Leaders
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HP USD 1.92B
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Canon USD 671M
Revenue % Increase Leaders
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Mutoh 8.4%
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Roland 6.54%
Profit % Increase Leaders
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Mutoh 85%
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Mimaki 55%
Agfa Gavaert NV
Revenue: USD 301.05M (Revenue: €280 M)
Net Income: USD -16.35M (Net Income: €-15 M)
Revenue Change: -41%
Net Income Change: +16.67%
Printing Segment Notes:
In Digital Print, the ink product ranges for sign and display and industrial applications as well as the high end equipment business continued to perform strongly, but the top line was impacted by the fact that print companies started to postpone investments in lower and mid end equipment due to the adverse macroeconomic conditions and in anticipation of the introduction of new technologies.
Brother
Revenue: USD 1.78B (Revenue: JPY 213 B)
Net Income: USD 147.6M (Net Income: JPY 17.7 B)
Revenue Change: -1.69%
Net Income Change: 39.27%
Printing Segment Notes:
Regarding communications and printing equipment, although consumables sales were steady, hardware sales were down due to effects from sluggish markets.
Canon
Revenue: USD 9.67B (Revenue: JPY 1.16T)
Net Income: USD 671.0M (JPY 80.57 B)
Revenue Change: +.057Change
Net Income Change: -5.04Change
Printing Segment Notes:
In Production printing products where the market continues to expand, Canon posted double-digit growth in net sales, driven by significant growth in the unit sales of cut-sheet printers, specifically our imagePRESS V series, and large-format printers, explicitly our Colorado M series. Sales of production products were up 13% year over year.
Cricut Inc
Revenue: USD 231.25M
Net Income: USD 11.29M
Revenue Change: -17.64%
Net Income Change: +3.65%
Printing Segment Notes:
Cricut’s total user base grew 13% to 8.9 million users and paid subscribers grew to 2.77 million, up 6%.
Dover
Revenue: USD 2.11B
Net Income: USD 296.2M
Revenue Change: -1.56 Change
Net Income Change: +5.63 Change
Printing Segment Notes:
Organic revenue decline against a difficult prior year comp. Growth in serialization software, lower volumes in Europe and Asia
Eastman Kodak
Revenue: USD 275.0M
Net Income: USD 5.0M
Revenue Change: -9.84%
Net Income Change: -28.57%
Printing Segment Notes:
The printing segment continues to experience higher raw material and competitive pricing pressures.
EPSON
Revenue: USD 3.21B (JPY 353.57B)
Net Income: USD 136.2M (JPY 14.99B)
Revenue Change: -2.13%
Net Income Change: 35.49%
Printing Segment Notes:
Printing solutions profit sharply increased primarily due to office and home IJP ink sales growth, commercial and industrial IJP sales growth, and lower transportation and other manufacturing costs.
FUJI
Revenue: USD 6.97B (JPY 766.94B)
Net Income: USD 547.2 M(JPY 60.20B)
Revenue Change: 3.04%
Net Income Change: -0.25%
Printing Segment Notes:
In the Graphics Communication segment revenue was down 7.6% to JPY 75.5B due to printhead revenue declines and printing plate lower demand.
HP
Revenue: USD 13.9B
Net Income: USD 1.92B
Revenue Change: -4.44%
Net Income Change: -1.55%
Printing Segment Notes:
Printing net revenue was $4.4 billion, down 5% year over year. Consumer Printing net revenue was down 22% and Commercial Printing net revenue was down 12%. Supplies net revenue was flat. Total hardware units were down 17%, with Consumer Printing units down 15% and Commercial Printing units down 18%.
Konica Minolta
Revenue: USD 2.62B (JPY 289.21B)
Net Income: USD 3.2M (JPY 343.00M)Revenue Change: -0.37%
Net Income Change: -90.16%
Printing Segment Notes:
Revenue from hardware in production print unit was 96% of the previous fiscal year’s level. Sales volume of label and textile presses increased during this quarter.
Kornit Digital
Revenue: USD 56.59M
Net Income: USD -22.93M
Revenue Change: -10.61%
Net Income Change: 35.14%
Printing Segment Notes:
Systems sales were significantly lower with consumables and services revenues seeing growth.
Mimaki
Revenue: USD 176.27M (JPY 19.39B)
Net Income: USD 9.36M (JPY 1.03B)
Revenue Change: +5.57%
Net Income Change: +55.07%
Printing Segment Notes:
By region, sales in Europe were lower than in the same period of the previous year due to economic stagnation. On the other hand, in Asia/Oceania, sales in China increased substantially in contrast to the weak performance in the same period of the previous year due to the COVID-19 crisis. Sales in North America remained strong due to firm economic trends. In Japan, strong sales continued due to increased demand with the economic recovery.
Mutoh
Revenue: USD 40.0M (JPY 4.40B)
Net Income: USD 2.35M (JPY 259.00M)
Revenue Change: 8.4%
Net Income Change: 85%
Ricoh
Revenue: USD 5.32B (JPY 585.10B)
Net Income: USD 133.2 M (JPY 14.66B)Revenue Change: 5.41%
Net Income Change: 17.08%
Printing Segment Notes:
Ricoh Graphics Communications segment was up 18.9% with printhead sales remaining strong.
Roland DG
Revenue: USD 130.9M (JPY 14.40B)
Net Income: USD 11.1M (JPY 1.22B)
Revenue Change: 6.54%
Net Income Change: -6.87%
Printing Segment Notes:
Japan sales decreased by 3.6%
North America sales increased by 1.12%
Europe sales increased by 9.4%
Asia sales increased by 26.9%
Other sales increased by 15.9%
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