Fujifilm reports European sales steady

Jan 16, 2009, 12:02 GMT

Dusseldorf - Fujifilm, the Japanese group, said Friday its total sales in Europe had been steady last year, slightly increasing to 2.8 billion euros (3.7 billion dollars).

Fujifilm offers its products in 20 European nations. A Fujifilm spokeswoman said European sales made up 16 per cent of Fujifilm's world sales and this proportion was tending upwards.

Fujifilm Europe chief executive Shigehiro Nakajima said he was 'cautiously optimistic' about sales, despite a difficult market environment and the recession.

Following a restructuring, a large part of sales now derives from the information business, Fujifilm's term for medical technology, graphic computer systems, flat-screen materials and the like.

Imaging, the familiar Fujifilm product range embracing cameras, film, photographic papers and photographic laboratory equipment, made up 70 per cent of European sales just a decade ago. It contributes only 19 per cent of European turnover today.

'By refocussing and diversifying, we are thrusting against the crisis and we are cautiously optimistic,' said the spokeswoman, Petra Fujiwara.

She said the group was also disadvantaged by the high commodity price of its key raw materials, including silver and aluminium, as well as the strength of the yen. Fujifilm expected those factors to keep hurting its profitability in the current year.

According to a downgraded forecast back in August 2008, the group now expects worldwide operational earnings equivalent to about 1 billion euros.

'Of course we are feeling the recession, but at Fujifilm we are talking about the size of our earnings, not the size of losses,' said Fujiwara.