Canon experienced a better-than-expected order book at Drupa, leading to a 14% year-on-year sales increase in Q2. Overall sales for the first half rose to ¥2,156.3 billion (£10.89 bn), a 10% increase over the 2023 interim sales of ¥1,992.0 billion (£10.1bn). Sales in the commercial print sector increased to ¥111.2 billion (£561.6 million) in the second quarter and are projected to reach ¥443.2 billion (£2.24 bn) for the full year, a 10% increase over the 2023 full year sales of ¥401.6 billion (£202.8 million). Operating profit for the printing division saw a significant rise, with a 33% increase in Q2 and a projected 31.7% for the full year to ¥144.7 billion (£730.8 million). Canon aims for a revenue of ¥4.6 trillion (£23.2 bn) for the full year. The company attributes its success to products like the ColorStream continuous inkjet press, the Colorado M series large format printer, and the ImagePress V series machines. Long-term trends in the sector, driven by the shift to digital printing, are expected to result in a 5% sales increase in the future. Canon plans to convert the orders received at Drupa into sales for the second half of the year and maintain steady growth. The company also highlights its global cooperation with Heidelberg for the iX3200 and the upcoming launch of the B2 iV7 next year, aiming to attract new customers for cutsheet inkjet printers.
