Panasonic earnings will fall in 2021
20 July 2022
During the fiscal year 2021, Panasonic Manufacturing Philippines Corp. experienced a decline in their net income.
PMPC President Yashuki Kondo predicted that the company’s net income in 2021 will be P165.23 million, which is a decrease of 53% year on year compared to Panasonic earnings net income of P358.01 million in 2020.
In his statement to shareholders, Kondo stated, “Fiscal year 2021 turned out to be another hard year, as it was the second year of the coronavirus sickness 2019, wherein lockdowns continued for the bulk of the year.” The extended epidemic has had a substantial impact on a variety of facets of our life as well as the business operations that we engage in here at PMPC.
He explained that the company, just like other competitors in the industry, is experiencing supply disruptions, shortages of semiconductors, price rises for raw materials, and the effects that the conflict between Russia and Ukraine has had on the price of oil. These issues are all a result of the fact that the price of oil has been affected by the conflict between Russia and Ukraine.
PMPC was able to maintain a strong performance despite the challenges, as evidenced by an increase in net sales of 116 percent, from P10.89 billion in 2020 to P12.59 billion in 2021.
Kondo stated that “despite the lockdown, I would like to recognize the dynamism of our PMPC family members who whose collaborative efforts and devotedly executing our activities in the various areas of our operation helped greatly in sustaining our corporate existence.” “Despite the lockdown, I would like to recognize the dynamism of our PMPC family members who whose collaborative efforts and devotedly executing our activities in the various areas of
He continued by saying, “Our business success in 2021 was another demonstration of our devotion,” and despite the fact that Panasonic earnings in 2021 were lower than their performance in 2020, they still managed to yield a net profit, which is something that we need to be thankful for.
