Techtronic Industries Delivers Strong 2024 First Half Results
Techtronic Industries Co. (TTI) reported strong financial results for the first half of 2024. Revenue increased 6.3% to US$7.3 billion, while net profit grew 15.7% to US$550 million. The company's gross margin expanded by 67 basis points to 39.9%. TTI's flagship MILWAUKEE brand achieved double-digit sales growth of 11.2% in local currency, solidifying its position as the top professional power tool brand globally.
Other highlights include:
- EBIT grew 11.8% to US$626 million
- Earnings per share increased 15.8% to US30.12 cents
- Free Cash Flow reached a record US$508 million
- Interim dividend increased 13.7% to approximately US13.90 cents per share
TTI's strong performance was driven by its focus on cordless technology innovation and strategic investments in new products and talent.
Techtronic Industries Co. (TTI) ha riportato risultati finanziari solidi per il primo semestre del 2024. Il fatturato è aumentato del 6,3%, raggiungendo i 7,3 miliardi di dollari statunitensi, mentre il profitto netto è cresciuto del 15,7%, arrivando a 550 milioni di dollari statunitensi. Il margine lordo dell'azienda è aumentato di 67 punti base, raggiungendo il 39,9%. Il marchio di punta di TTI, MILWAUKEE, ha registrato una crescita delle vendite a doppia cifra del 11,2% in valuta locale, consolidando la sua posizione come il principale marchio di strumenti elettrici professionali a livello globale.
Altri punti salienti includono:
- EBIT cresciuto dell'11,8%, raggiungendo 626 milioni di dollari statunitensi
- Utili per azione aumentati del 15,8%, arrivando a 30,12 centesimi statunitensi
- Flusso di cassa libero che ha raggiunto un record di 508 milioni di dollari statunitensi
- Il dividendo intermedio è aumentato del 13,7%, avvicinandosi a 13,90 centesimi statunitensi per azione
Le ottime performance di TTI sono state spinte dalla sua attenzione all'innovazione tecnologica cordless e da investimenti strategici in nuovi prodotti e talenti.
Techtronic Industries Co. (TTI) reportó sólidos resultados financieros para la primera mitad de 2024. Los ingresos aumentaron un 6,3% hasta alcanzar los 7,3 mil millones de dólares estadounidenses, mientras que la utilidad neta creció un 15,7% hasta los 550 millones de dólares estadounidenses. El margen bruto de la empresa se expandió en 67 puntos base, alcanzando el 39,9%. La marca insignia de TTI, MILWAUKEE, logró un crecimiento en ventas de dos dígitos del 11,2% en moneda local, consolidando su posición como la principal marca de herramientas eléctricas profesionales a nivel mundial.
Otros aspectos destacados incluyen:
- El EBIT creció un 11,8%, alcanzando los 626 millones de dólares estadounidenses
- Las ganancias por acción aumentaron un 15,8%, llegando a 30,12 centavos estadounidenses
- El flujo de caja libre alcanzó un récord de 508 millones de dólares estadounidenses
- El dividendo interino aumentó un 13,7% a aproximadamente 13,90 centavos por acción
El sólido rendimiento de TTI fue impulsado por su enfoque en la innovación tecnológica inalámbrica y las inversiones estratégicas en nuevos productos y talento.
Techtronic Industries Co. (TTI)는 2024년 상반기에 강력한 재무 성과를 보고했습니다. 매출은 6.3% 증가하여 73억 달러에 달했습니다, 순이익은 15.7% 성장하여 5억 5천만 달러에 이르렀습니다. 회사의 총 이익률은 67bp 상승하여 39.9%에 도달했습니다. TTI의 주요 브랜드인 MILWAUKEE는 현지 통화로 11.2%의 두 자릿수 매출 성장을 기록하여 세계 최고의 전문 전동 공구 브랜드로 자리매김했습니다.
기타 주요 내용은 다음과 같습니다:
- EBIT가 11.8% 증가하여 6억 2천6백만 달러에 도달했습니다
- 주당 순이익이 15.8% 증가하여 30.12센트에 달했습니다
- 프리 캐시 플로우가 기록적인 5억 8백만 달러에 도달했습니다
- 중간 배당금이 약 13.90센트로 13.7% 증가했습니다
TTI의 강력한 성과는 무선 기술 혁신과 새로운 제품 및 인재에 대한 전략적 투자에 집중한 덕분입니다.
Techtronic Industries Co. (TTI) a annoncé de solides résultats financiers pour le premier semestre 2024. Le chiffre d'affaires a augmenté de 6,3% pour atteindre 7,3 milliards de dollars américains, tandis que le bénéfice net a crû de 15,7% pour atteindre 550 millions de dollars américains. La marge brute de l'entreprise s'est élargie de 67 points de base pour atteindre 39,9 %. La marque phare de TTI, MILWAUKEE, a enregistré une croissance des ventes à deux chiffres de 11,2% dans la monnaie locale, consolidant sa position de principale marque d'outils électriques professionnels au niveau mondial.
Les autres points forts incluent :
- L'EBIT a augmenté de 11,8% pour atteindre 626 millions de dollars américains
- Le bénéfice par action a augmenté de 15,8% pour atteindre 30,12 cents
- Le flux de trésorerie libre a atteint un record de 508 millions de dollars américains
- Le dividende intérimaire a augmenté de 13,7% pour atteindre environ 13,90 cents par action
La performance solide de TTI a été soutenue par son attention à l'innovation technologique sans fil et ses investissements stratégiques dans de nouveaux produits et talents.
Techtronic Industries Co. (TTI) hat für das erste Halbjahr 2024 starke Finanzergebnisse berichtet. Der Umsatz stieg um 6,3% auf 7,3 Milliarden US-Dollar, während der Nettogewinn um 15,7% auf 550 Millionen US-Dollar wuchs. Die Bruttomarge des Unternehmens erweiterte sich um 67 Basispunkte auf 39,9%. Die Hauptmarke von TTI, MILWAUKEE, erzielte ein zweistelliges Verkaufswachstum von 11,2% in lokaler Währung und festigte ihre Position als die führende professionelle Werkzeugmarke weltweit.
Weitere Highlights umfassen:
- EBIT wuchs um 11,8% auf 626 Millionen US-Dollar
- Der Gewinn pro Aktie erhöhte sich um 15,8% auf 30,12 Cent
- Der freie Cashflow erreichte einen Rekord von 508 Millionen US-Dollar
- Die Zwischendividende wurde um 13,7% auf etwa 13,90 Cent pro Aktie erhöht
Die starke Performance von TTI wurde durch den Fokus auf Innovationen in der kabellosen Technologie und strategische Investitionen in neue Produkte und Talente vorangetrieben.
- Revenue increased 6.3% to US$7.3 billion
- Net profit grew 15.7% to US$550 million
- Gross margin expanded by 67 basis points to 39.9%
- MILWAUKEE brand achieved 11.2% sales growth in local currency
- EBIT grew 11.8% to US$626 million
- Earnings per share increased 15.8% to US30.12 cents
- Free Cash Flow reached a record US$508 million
- Interim dividend increased 13.7% to approximately US13.90 cents per share
- Inventory reduced by US$554 million compared to the first half of last year
- Net Interest costs decreased 34.0% to US$32 million
- Working capital as a percent of sales improved 409 bps to 18.7%
- Gearing improved to 9.2%
- None.
Gross Margin Expanded to
-
TTI delivered strong first half results, growing sales
6.3% toUS and net profit$7.3 billion 15.7% toUS .$550 million -
Our Flagship
MILWAUKEE business grew sales11.2% in local currency, extending our leadership position as the #1 professional power tool brand worldwide. -
Gross margin improved 67 bps to
39.9% in the first half of 2024. -
We delivered record first half Free Cash Flow of
US and improved gearing to$508 million 9.2% . - Mr. Steven Philip Richman was appointed to the role of TTI Chief Executive Officer (CEO) on May 21, 2024.
Financial Performance Highlights for 2024 First Half |
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2024 |
2023 |
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US$’ |
US$’ |
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million |
million |
Changes |
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Revenue |
7,312 |
6,879 |
+ |
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Gross profit margin |
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+67 bps |
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EBIT |
626 |
560 |
+ |
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Profit attributable to Owners of the Company |
550 |
476 |
+ |
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EPS (US cents) |
30.12 |
26.00 |
+ |
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Free Cash Flow |
508 |
301 |
+207 m |
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Interim dividend per share (approx. US cents) |
13.90 |
12.23 |
+ |
Gross margin improved 67 bps to
The TTI Power Equipment segment grew sales
The Directors have resolved to declare an interim dividend of HK108.00 cents (approximately US13.90 cents) (2023: HK95.00 cents (approximately US12.23 cents)) per share for the six-month period ended June 30, 2024. The interim dividend will be paid to shareholders listed on the register of members of the Company on September 6, 2024. It is expected that the interim dividend will be paid on or about September 19, 2024.
Mr. Horst Julius Pudwill, Chairman of TTI, said, “We delivered outstanding results in the first half of 2024, including generating strong Free Cash Flow and strengthening our balance sheet through disciplined working capital management. With the promotion of Steven Philip Richman to CEO and the deep talent pool supporting him, we are extremely well positioned to continue growing the overall market and extending our leadership position.
Mr. Steven Philip Richman, CEO of TTI, commented, “Our first half performance demonstrates our focus on extending our market leadership position within our
About TTI
TTI is a world leader in cordless technology spanning Power Tools, Outdoor Power Equipment, Floorcare and Cleaning Products for the DIY, consumer, professional, and industrial users in the home, construction, maintenance, industrial and infrastructure industries. The Company has a foundation built on four strategic drivers – Powerful Brands, Innovative Products, Exceptional People and Operational Excellence - reflecting an expansive long-term vision to advance cordless technology. The global growth strategy of the relentless pursuit of product innovation has brought TTI to the forefront of its industries while maintaining high environmental, social and corporate governance standards. TTI's powerful brand portfolio includes
Founded in 1985 and listed on The Stock Exchange of Hong Kong Limited in 1990, TTI is one of the constituent stocks of the Hang Seng Index, Hang Seng Corporate Sustainability Benchmark Index, FTSE RAFI™ All-World 3000 Index, FTSE4Good Developed Index, and MSCI ACWI Index. The Company also trades on the OTCQX Best Market under the symbols “TTNDY” and “TTNDF”. For more information, please visit www.ttigroup.com.
All trademarks listed other than AEG, OTCQX, and RYOBI are owned by the Group. AEG is a registered trademark of AB Electrolux (publ.), and is used under license. OTCQX is a registered trademark of OTC Markets Group Inc. RYOBI is a registered trademark of Ryobi Limited, and is used under license.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240806160397/en/
For Investor Relations enquiries:
Main Contact
TTI Investor Relations –
Ross Gilardi
Senior Vice President, Finance & Investor Relations
Email: ross.gilardi@ttihq.com
TTI Investor Relations –
Jimmy Li
Senior Manager, Investor Relations
Email: jimmy.li@tti.com.hk
Source: Techtronic Industries Co. Ltd.
FAQ
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