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Techtronic Industries Co. Ltd. (TTNDY) is a global industry leader in cordless technology, offering a wide range of professional tools, DIY tools, and outdoor power equipment. With a strong focus on powerful brands, innovative products, exceptional people, and operational excellence, TTI aims to advance cordless technology across various industries. The company's impressive portfolio includes MILWAUKEE, RYOBI, AEG power tools, outdoor products, and floorcare solutions. Established in 1985, TTI has consistently demonstrated growth, delivering outstanding sales performance and achieving key financial milestones.
Techtronic Industries (TTNDY), a global leader in cordless power tools and equipment, has joined the United Nations Global Compact, the world's largest voluntary corporate sustainability initiative with over 25,000 signatories across 160+ countries. CEO Steve Richman highlighted the company's long-standing commitment to sustainability, noting their history of ESG reporting since 2015 and alignment with UN Sustainable Development Goals since 2018.
The company commits to annual progress reporting through their ESG Report and the UN Global Compact website, focusing on areas including safety solutions, noise reduction, supply chain traceability, decarbonization, and governance. TTI's sustainability strategy now officially aligns with the Ten Principles covering human rights, labor, environment, and anti-corruption. Their next ESG report is scheduled for March 2025.
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 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.
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