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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