Fuji Xerox New Zealand Business Turnaround Update
Fuji Xerox New Zealand Business Turnaround Update – August 2018
AUCKLAND, New Zealand, 27th August 2018– Fuji Xerox
New Zealand has today provided an update on the company’s
ongoing turnaround, based on its financial results for the
year ended 31 March 2018 (hereafter, FY 2017). In New
Zealand, Fuji Xerox operates as two legal entities – Fuji
Xerox New Zealand Limited and Fuji Xerox Finance
Limited.
Combined company FY 2017 results:
•
A loss before tax of $(12.4) million versus $(14.9) in FY
2016 – representing a 17% year-on-year improvement
•
Positive operating cash flows
• Improving
working capital position, driven by a reduction in
inventory, receivables, and borrowings
“Fuji Xerox
New Zealand is today a fundamentally different
organization,” said Peter Thomas, managing director of
Fuji Xerox New Zealand. “We have implemented a significant
restructuring of our business, processes and culture. This
has led us to re-focus on our core products and services for
customers in New Zealand and is building the foundations for
a long-term sustainable business. The FY2017 result captures
only the early stages of this turnaround plan. I’m
encouraged by the continued improvement in our financial
performance in the first part of FY2018.”
The
commitment from Fuji Xerox New Zealand’s parent company
towards New Zealand is as resolute as ever in delivering
world class document management solutions to customers in
New Zealand.
Key operating highlights
In the last 18 months Fuji Xerox New Zealand
has:
• Launched a new Software and Solutions
division offering enterprise document solutions and business
process outsourcing services, helping customers manage print
environments, embrace digital transformation, optimise
business processes and enabling them to work more
effectively and sustainably.
• In May 2018, a feasibility study was announced with Downer and recycling partner Close the Loop to trial using photocopier waste toner in NZ roads as a substitute for bitumen in a product called TonerPave™. TonerPave has been used in roads in Australia and has achieved a carbon footprint reduction of up to 23 percent over its lifecycle.
• In the same month Fuji Xerox New Zealand launched its first ever product stewardship roadmap for New Zealand businesses, which provides a free guide for responsible management of the environmental footprint of its products throughout their lifecycle.
• Continued its commitment to support local communities by providing technology and related services to more than 100 charitable and education related organisations.
Later this year, Fuji Xerox New Zealand will launch its
first Global Reporting Initiative that will provide an
in-depth analysis of the work underway to return the company
to a more sustainable footing in New Zealand.
“The past
two years have been a challenging period for us here at Fuji
Xerox New Zealand,” Thomas said. “Our staff have shown
great resilience and our customers, suppliers and partners
great loyalty. We ensure as a company we are doing all we
can to establish and continually improve our business
operations so that in the future, all stakeholders, be they
staff, customers, suppliers, or the communities of New
Zealand, can be proud of their association with
us.”