On May 23, Lenovo Group Limited launched its monetary efficiency for the 2024.
In the 2023, Lenovo’s profits was $56.864 billion, a decline of 8% compared to the previous year; net revenue attributable to equity holders (net revenue) was $1.011 billion, a decline of 37% compared to the previous year. Both figures have actually decreased for the 2nd successive year. Lenovo mentioned in its monetary report that the decrease in efficiency was primarily due to general market weak point in the very first half of the duration.
With the healing of the PC market, Lenovo’s efficiency enhanced in the 4th quarter of financial year 2023. In Q4, Lenovo’s profits was $13.833 billion, a boost of 9% compared to in 2015. At the exact same time, due to increased contribution from high-margin companies within Solution Services Group and modifications in sales mix, Lenovo’s net revenue in Q4 increased by 118% to $0.248 billion; gross margin was at 17.6%, up by 0.6% compared to in 2015.
The monetary report divulged that since 2023, Lenovo had an overall worldwide labor force of 77,000 workers which reduced to arounds 69,500 workers for ending on March 31st, indicating that over previous one years they decreased their headcount by around 7,500 individuals.
Lenovo likewise pointed out under “expenditure classifications” in its monetary report that it sustained severance and associated expenses amountingto$55 million due market obstacles.
SEE ALSO: Lenovo’s Revenue Growth Exceeds 100 Billion Yuan in 3 Years
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