TECHTRONIC INDUSTRIES DELIVERS STRONG 2024 FIRST HALF RESULTS
Techtronic Industries (TTI) reported strong results for the first half of 2024, with sales growing 6.3% to US$7.3 billion and net profit increasing 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, while RYOBI outperformed the market.
Key financial 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
- Gearing improved to 9.2%
The company declared an interim dividend of HK108.00 cents per share, up 13.7% from the previous year. TTI's strong performance was attributed to its focus on cordless technology innovation and market leadership in power tools and outdoor power equipment.
Techtronic Industries (TTI) ha riportato risultati solidi per il primo semestre del 2024, con vendite cresciute del 6,3% a 7,3 miliardi di dollari USA e un utile netto aumentato del 15,7% a 550 milioni di dollari USA. Il margine lordo dell'azienda è aumentato di 67 punti base, raggiungendo un 39,9%. Il marchio di punta di TTI, MILWAUKEE, ha registrato una crescita delle vendite a doppia cifra del 11,2% in valuta locale, mentre RYOBI ha superato il mercato.
I principali punti finanziari includono:
- L'EBIT è cresciuto dell'11,8% a 626 milioni di dollari USA
- Gli utili per azione sono aumentati del 15,8% a 30,12 centesimi USA
- Il flusso di cassa libero ha raggiunto un record di 508 milioni di dollari USA
- Il gearing è migliorato al 9,2%
L'azienda ha dichiarato un dividendo intermedio di HK108,00 centesimi per azione, in aumento del 13,7% rispetto all'anno precedente. La forte performance di TTI è stata attribuita alla sua attenzione sull'innovazione tecnologica senza fili e al posizionamento di leadership nel mercato degli utensili elettrici e delle attrezzature per il giardinaggio.
Techtronic Industries (TTI) reportó resultados sólidos para la primera mitad de 2024, con ventas que crecieron un 6.3% hasta 7.3 mil millones de dólares estadounidenses y una utilidad neta que aumentó un 15.7% hasta 550 millones de dólares estadounidenses. El margen bruto de la empresa se expandió en 67 puntos básicos, alcanzando un 39.9%. La marca insignia de TTI, MILWAUKEE, logró un crecimiento en ventas de dos dígitos del 11.2% en moneda local, mientras que RYOBI superó al mercado.
Los principales aspectos financieros incluyen:
- El EBIT creció un 11.8% hasta 626 millones de dólares estadounidenses
- Las ganancias por acción aumentaron un 15.8% hasta 30.12 centavos de dólar estadounidense
- El flujo de caja libre alcanzó un récord de 508 millones de dólares estadounidenses
- El apalancamiento mejoró al 9.2%
La empresa declaró un dividendo intermedio de HK108.00 centavos por acción, un aumento del 13.7% en comparación con el año anterior. La sólida actuación de TTI se atribuyó a su enfoque en la innovación tecnológica sin cables y al liderazgo en el mercado de herramientas eléctricas y equipos de jardinería.
테크트로닉 인더스트리(TTI)는 2024년 상반기 강력한 실적을 보고했으며, 매출은 6.3% 증가하여 73억 달러에 달하고 순이익은 15.7% 증가해 5억 5천만 달러에 이릅니다. 회사의 총 매출 총 이익률은 67 베이시스 포인트 증가하여 39.9%에 도달했습니다. TTI의 핵심 브랜드인 MILWAUKEE는 현지 통화로 11.2%의 두 자릿수 매출 성장을 기록했으며, RYOBI는 시장을 초과 달성했습니다.
주요 재무 하이라이트는 다음과 같습니다:
- EBIT는 11.8% 증가한 6억 2천 6백만 달러
- 주당 순이익은 15.8% 증가한 30.12 센트
- 자유 현금 흐름은 기록적인 5억 8천만 달러에 도달
- 부채비율은 9.2%로 개선
회사는 주당 HK108.00 센트의 중간 배당금을 선언했으며, 이는 전년도 대비 13.7% 증가한 수치입니다. TTI의 강력한 실적은 무선 기술 혁신 및 전동 공구와 야외 전력 장비에서의 시장 리더십에 중점을 두었기 때문입니다.
Techtronic Industries (TTI) a annoncé des résultats solides pour le premier semestre 2024, avec des ventes en hausse de 6,3 % à 7,3 milliards de dollars américains et un bénéfice net augmentant de 15,7 % à 550 millions de dollars américains. La marge brute de l’entreprise s'est améliorée 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 % en monnaie locale, tandis que RYOBI a surpassé le marché.
Les points financiers clés comprennent :
- 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 niveau record de 508 millions de dollars américains
- Le ratio d'endettement s'est amélioré à 9,2 %
L’entreprise a déclaré un dividende intermédiaire de 108,00 cents HK par action, en hausse de 13,7 % par rapport à l'année précédente. La performance solide de TTI a été attribuée à son engagement en faveur de l'innovation technologique sans fil et à sa position de leader sur le marché des outils électriques et des équipements de jardinage.
Techtronic Industries (TTI) hat für das erste Halbjahr 2024 starke Ergebnisse berichtet, wobei der Umsatz um 6,3% auf 7,3 Milliarden US-Dollar wuchs und der Nettogewinn um 15,7% auf 550 Millionen US-Dollar anstieg. Die Bruttomarge des Unternehmens erweiterte sich um 67 Basispunkte auf 39,9%. Die Hauptmarke von TTI, MILWAUKEE, erzielte im lokalen Währungsraum ein zweistelliges Umsatzwachstum von 11,2%, während RYOBI besser als der Markt abschnitt.
Wichtige finanzielle Kennzahlen umfassen:
- EBIT wuchs um 11,8% auf 626 Millionen US-Dollar
- Der Gewinn pro Aktie stieg um 15,8% auf 30,12 Cent
- Der freie Cashflow erreichte mit 508 Millionen US-Dollar einen Rekord
- Die Verschuldung verbesserte sich auf 9,2%
Das Unternehmen erklärte eine Zwischen-Dividende von HK108,00 Cent pro Aktie, was einem Anstieg von 13,7% im Vergleich zum Vorjahr entspricht. Die starke Leistung von TTI wurde auf den Fokus auf Innovationen in der kabellosen Technologie und die Marktführerschaft bei Elektrowerkzeugen und Gartenwerkzeugen zurückgeführt.
- Sales grew 6.3% to US$7.3 billion in the first half of 2024
- Net profit increased 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
- Record Free Cash Flow of US$508 million
- Gearing improved to 9.2%
- Interim dividend increased by 13.7% to HK108.00 cents per share
- 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$508 million 9.2% . - Mr. Steven Philip Richman was appointed to the role of TTI Chief Executive Officer (CEO) on May 21, 2024.
Financial Performance Highlights for 2024 First Half | |||
2024 | 2023 | ||
US$' | US$' |
Changes | |
Revenue | 7,312 | 6,879 | +6.3 % |
Gross profit margin | 39.9 % | 39.3 % | +67 bps |
EBIT | 626 | 560 | +11.8 % |
Profit attributable to Owners of the Company | 550 | 476 | +15.7 % |
EPS (US cents) | 30.12 | 26.00 | +15.8 % |
Free Cash Flow | 508 | 301 | +207 m |
Interim dividend per share (approx. US cents) | 13.90 | 12.23 | +13.7 % |
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
-End-
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.
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SOURCE Techtronic Industries Co. Ltd.
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