VTECH HOLDINGS UNSP/ADR - VTKLY STOCK NEWS

VTech reported its FY2024 results with an 11.7% rise in profit to US$166.6 million despite a 4.3% revenue decline to US$2,145.7 million. The improved gross profit margin from 28.3% to 29.6% and lower operating expenses were key drivers. A final dividend of US48.0 cents per share brings the full-year dividend to US65.0 cents, up 10.2%. The acquisition of Gigaset Communications' assets is expected to strengthen VTech's TEL products segment. The company remains optimistic about FY2025, expecting higher revenue driven by new product launches and the integration of Gigaset's assets.

VTech Holdings acquires assets of Gigaset Communications GmbH, gaining manufacturing facilities in Europe and expanding its business operations.

VTech Holdings Limited, a global leader in electronic learning products and residential phones, has announced the acquisition of assets of Gigaset Communications GmbH, the market leader for DECT cordless phones in Europe. The acquisition aims to strengthen VTech's leadership position in residential cordless phones, expand its market channels and product portfolios globally, as well as manufacturing footprint in Europe. The acquisition is expected to complete on 2 April 2024.

VTech Holdings Limited (HKSE: 303) reported an increase in profit for the six months ended 30 September 2023, despite a 2.1% decrease in group revenue. Gross profit margin rose to 28.5%, and profit attributable to shareholders increased by 14.1% to US$93.6 million. The company declared an unchanged interim dividend of US17.0 cents per ordinary share. The uncertain economic environment led to a more conservative full-year outlook, but the financial position remains strong.

Snom, a subsidiary of VTech Holdings Limited, unveiled its M500 Pro wireless family on Feb. 27, 2023, in Chicago. This innovative cordless office system is designed for small and medium-sized businesses, offering a flexible, cloud-accessible solution. The system features DECT technology for enhanced reliability and security, supporting compatibility for up to 48 handsets. Key advantages include painless deployment, mobility with an 'office in a box' setup, scalability, and user-friendly design. The M500 Pro aims to streamline operations while retaining the familiar features of traditional wired systems, ensuring seamless communication.

VTech Holdings Limited reported a 4.5% increase in group revenue to US$1,164.8 million for the six months ended 30 September 2022, driven by improved materials supply and sales growth in North America and Asia Pacific.

Profit attributable to shareholders rose 6.6% to US$82.0 million, with a gross profit margin improvement from 27.4% to 28.3%. Despite the achievements, VTech revised its full-year outlook, anticipating a year-on-year revenue decline due to rising costs and inventory management challenges in a complex operating environment.

VTech Holdings Limited reported stable revenue of US$2,370.5 million for the year ending 31 March 2022, down 0.1% from the previous year. Despite achieving over US$1 billion in sales for electronic learning products, net profit fell by 25.2% to US$172.7 million, driven by a gross profit margin decline from 30.6% to 28.2% due to rising global material and freight costs. The final dividend was also reduced by 25.3% year-on-year, reflecting ongoing supply chain challenges.

VTech Holdings Limited reported interim results for the six months ending September 30, 2021. Group revenue declined 0.8% to US$1,114.8 million, primarily due to global material shortages, supply chain disruptions, and increased costs. Profit attributable to shareholders fell by 37.8% to US$76.9 million, with gross profit margin dropping from 31.8% to 27.4%. Despite challenges, VTech declared an unchanged interim dividend of US17.0 cents per share, indicating a strong financial position while anticipating improvements in sales and gross margin in the second half of the financial year.