Lenovo proudly announces record quarterly results for the group, which in just one quarter – the third between 2021 and 2022 – has turnover for the first time in its history over 20 billion dollarswith year-over-year growth of 17%: “The company’s focus on innovation and profitability, supported by its operational excellence, has helped overcome industry challenges in the supply chain and has generated rapid growth and profitability across all major business groups and geographies.”.
The other economic indicators are also growing at higher rates than turnover alone. For the sixth consecutive quarter net profit grows at a rate of more than 50%, with the third quarter specifically seeing numbers climb 62% year-on-year, setting a record $ 640 million. Record also for the pre-tax profit, which thanks to + 45% on the previous year reaches a maximum of 855 million dollars.
The numbers reflect the findings of Strategy Analytics, which in the “photograph” at the beginning of the month had pointed out that in a market that is growing by 19% compared to the highs of 2020 Lenovo has proven to be the leader in notebook shipments globallywith 16.2 million units shipped to distributors in the fourth quarter of 2021 (63.4 million in all of 2021).
For the future, Lenovo’s commitment continues along the 3S strategy – smart devices / IoT, smart infrastructure, smart vehicles. The company sees continuing opportunities for sustainable growth and for improving profitability in all segments in which it is engaged, which puts it on track to achievetarget to double the net margin by the end of the financial year 2023/2024.
Lenovo continues to seize the opportunities generated by accelerating the digital and intelligent transformation process, we are very well positioned thanks to our new IT architecture and ‘Client-Edge-Cloud-Network-Intelligence’ capabilities. With another record quarter, we achieved the 6th quarter with more than 50% growth in net income year over year and the first quarter with revenues of $ 20 billion in our history. We remain on track to double both our net margin and R&D investment in three years from FY20 / 21 levels, ”said Yuanqing Yang, President and CEO of Lenovo.
Strong growth and high margins for the Solutions and Services (GSS) Group, the Infrastructure Solutions Group (ISG) growing with a strong premium to market while the Intelligent Devices Group (IDG) recorded an increase in the contribution of non-PC businesses.
