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Report shows 51% profit decrease for Acer New Zealand
Fri, 7th Jul 2023

Acer’s New Zealand operation has released its latest financial report detailing its finances as of 31st December 2022. The report shows that Acer’s gross profit decreased from NZD $4.119 million in 2021 to NZD $3.583 million in 2022, a decrease in profit of NZD $546k year-over-year. Revenue for the company also took a hit, down from NZD $54.3 million in 2021 to NZD $44.6 million in 2022, a decrease of roughly 18%.

The company’s profits before tax also saw a substantial decrease from NZD $721,371 in 2021 to NZD $351,458 in 2022, a 51% decrease year-on-year.

This represents a sizeable decrease in Acer New Zealand’s sales over the past year, which could be the result of numerous factors such as the cost of living crisis, market competition, and ongoing global economic uncertainty.

The costs of goods sold by Acer also saw a decrease, from NZD $50.171 million in 2021 to NZD $41.005 million, almost a 20% decrease. Likewise, Acer NZ’s operating profit also saw a decline, from NZD $731,929 in 2021 to just NZD $379,084 in 2022, a decrease of NZD $352,845.

Another area of interest is Acer’s Cash and Cash equivalents at the 31st December 2022, which decreased from NZD $7.98 million in 2021 to just NZD $5.24 million.

Acer NZ’s total assets also saw a decline from NZD $29.204 million in 2021 to NZD $21.042 million in 2022, a significant decrease year-on-year. 

Personnel wages and salaries saw an increase over the period from NZD $1.24 million in 2021 to NZD $1.34 million in 2022.

The audit of Acer Computers New Zealand was performed by international audit firm KPMG.

This follows a trend in recent years by Acer of continued revenue declines, even before the COVID-19 pandemic.

The report does come recently after Acer Australia and New Zealand announced that with the Department of Education Queensland, Acer Australia and New Zealand (ANZ) will issue over 12,000 computers to Queensland teachers. 

Via the Computers for Teachers Program (CFT), over 12,000 Travelmate Spin P4 e-notebooks will be allocated to Queensland teachers, In a contract worth an excess of AUD $15 million. 

This is the second consecutive year Acer (ANZ) has successfully tendered for and won the most significant portion of the notebook requirements for the Queensland Department of Education state teachers.  

Regarding the agreement, Gaba Cheng, Managing Director at Acer Australia and New Zealand, says: “Acer is delighted with this contract win that sees us continuing to build on our existing relationship with the Department of Education Queensland.”

“Acer has over 25 years of experience working with the Australian education sector, allowing us to provide our customers with dedicated education expertise and support, including a local service centre.”

“It is a privilege to be able to deliver our market-leading products to many of the state’s educators, with reliable laptops being a fundamental tool for teachers.” 

“Educators need purpose-built solutions that allow them to not only teach but thrive in their respective roles across the sector.”