AlexeyBorodin/iStock via Getty Images Elevator Pitch Techtronic Industries Company Limited (TTNDF, OTCQX:TTNDY) [669:HK] is rated as a Buy. In my prior October 16, 2023 write-up, I highlighted TTNDY's channel inventory situation and the mid-term top line growth expectations for its Milwaukee power tool business. My focus is on Techtronic Industries' recent share repurchases and its 2024 outlook in the current article. I have raised my investment rating for Techtronic Industries from a Hold earlier to a ...

2023 中期報告 1/2 吋高扭矩衝擊扳手 其功率及尺吋堪稱行內最佳組合 動力最強勁 提供領先業界的1,600英尺磅 扭矩，較主要競爭對手輕達 0.7英吋磅 ...

Powerful Brands Innovative Products Exceptional People Operational Excellence 2023 1H Analyst Presentation August 9th, 2023 DISCLAIMER This document ("document") has been prepared by Techtronic Industries Company Limited (the "Company" or "TTI", and together with its subsidiaries, the "Group") solely for use at the presentation held in connection with the announcement of the Company's financial results (the "Presentation"). References to "document" in this disclaimer shall be construed to include any oral c ...

Techtronic Industries Company Limited (OTCQX:TTNDY) Q2 2023 Earnings Conference Call August 9, 2023 8:00 AM ET Company Participants Horst Pudwill - Chairman Frank Chan - Chief Financial Officer Joe Galli - Chief Executive Officer Sean Docherty - Deputy CFO Ross Jalardi - Senior Vice President, Finance &Investor Relations Conference Call Participants John Choi - Daiwa Eric Lau - Citi Group Justin Chan - CLSA Tim Wojs - Baird Helen Fang - HSBC Terence Chang - Macquarie Jacqueline Du - GS Frank Fan - Nomura Op ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責，對其準確性或完整性亦 不發表任何聲明，並明確表示，概不對因本公佈全部或任何部份內容而產生或因倚賴該等內容而引致的任 何損失承擔任何責任。 TECHTRONIC INDUSTRIES COMPANY LIMITED 創 科 實 業 有 限 公 司 （於香港註冊成立之有限公司） （股份代號：669） 截至二 零 二三年六月三十日止六個月期間之業績 公佈 _____________________________________________________________________________________ 創科實業有限公司（「創科實業」或「本公司」）董事會（「董事」或「董事會」）欣然公佈本公司及 其附屬公司（統稱「本集團」）截至二零二三年六月三十日止六個月期間之未經審核綜合業績，連同 二零二二年的比較數字。 • 創科實業在二零二三年上半年錄得穩健業績，於銷售表現及利潤產生方面均超越市場，同時減少 庫存及實現出色的自由現金流 • 旗艦品牌MILWAUKEE爲全球第一的專業電動工具品牌，其業務表現優於市場，銷售額按當地貨 幣計算增 ...

Financial Performance - Total revenue for 2022 reached $13.254 billion, reflecting a 0.4% increase from $13.203 billion in 2021[4] - Gross margin improved to 39.3%, up 54 basis points from 38.8% in the previous year, marking the fourteenth consecutive year of growth[7] - Adjusted EBITDA increased by 0.8% to $1.201 billion, with a slight rise in profit margin to 9.1%[11] - Net profit attributable to shareholders decreased by 2.0% to $1.077 billion, with basic earnings per share falling to 58.86 cents[4] - Sales increased by 2.8% to $13.3 billion in 2022, with a gross margin of 39.3%[14] - The group's revenue for the year was $13.3 billion, a 0.4% increase from $13.2 billion in 2021. Shareholders' profit decreased by 2.0% to $1.077 billion from $1.099 billion in 2021[96] Growth and Market Expansion - Milwaukee's business saw a remarkable growth of 21.8% in local currency, contributing significantly to overall sales growth[9] - The flagship MILWAUKEE business recorded a 22% growth, marking the ninth consecutive year of over 20% growth in local currency[15] - The company plans to further expand its leadership in the global cordless tool market, supported by strong free cash flow and solid financial health[12] - The company achieved significant success in Europe and strong progress in Asia, particularly with the launch of the MILWAUKEE MX FUEL system in Japan[17] - The company aims to expand its market presence outside the U.S. and invest in new product development to maintain competitive advantages[107] Product Development and Innovation - New product profitability continues to grow, driven by innovative offerings and improved production efficiency[9] - The introduction of the fourth-generation MILWAUKEE M18 FUEL drill showcases advancements in power, speed, and battery life[18] - The company added 879 engineers to its R&D team to accelerate technology development[18] - The company launched the fourth generation of MILWAUKEE products, which are more powerful, faster, quieter, and equipped with rapid charging capabilities, marking a significant innovation in the industry[27] - The company introduced 14 comprehensive solutions under the MX FUEL series, establishing it as the largest and highest-performing lightweight equipment battery system in the market[46] Sustainability and Environmental Impact - The company successfully reduced carbon emissions by 6,000 tons over the past year, improving emission intensity by 4%[10] - The company’s commitment to responsible sustainable practices is deeply embedded in its culture, contributing to reduced carbon emissions and improved user safety[28] - The company has no reported ESG-related non-compliance cases in 2022, reflecting its commitment to environmental, social, and governance standards[108] - The company continues to align its sustainability strategy with the United Nations Sustainable Development Goals[108] Financial Health and Cash Flow - Free cash flow improved to $329 million in 2022, indicating strong financial performance[14] - Total operating expenses for the year were $4.025 billion, representing 30.4% of revenue, up from 29.9% in 2021, primarily due to strategic investments in new products and promotional activities[98] - The company generated free cash flow of $329 million during the year[100] - The net debt-to-equity ratio increased to 32.1% from 28.2% in 2021[100] Shareholder Returns and Dividends - The board proposed a final dividend of approximately 11.58 cents per share, maintaining the total annual dividend at 23.81 cents[11] - The total dividend for the year 2022 amounts to HKD 1.85 per share (approximately USD 0.2381), consistent with the previous year[111] - The board proposed a final dividend of HKD 0.90 per share (approximately USD 0.1158), totaling around USD 212.51 million for the year ended December 31, 2022[111] Corporate Governance - The board confirmed its responsibility for preparing the group's accounts, ensuring transparency and accountability[110] - The company emphasizes the importance of corporate governance and strategic leadership through its board composition[122] - The board regularly reviews compliance with the Corporate Governance Code and has confirmed adherence to all applicable rules for the year ending December 31, 2022[130] - The company is committed to maintaining high standards of governance and leveraging the diverse backgrounds of its directors for strategic advantage[119] Board Composition and Diversity - The board consists of five executive directors, two non-executive directors, and five independent non-executive directors, ensuring a diverse skill set[133] - The company emphasizes the importance of board diversity, with two out of twelve directors being women, enhancing the company's business and values[145] - The independent directors bring a wealth of experience from various industries, enhancing the company's strategic decision-making capabilities[120] Stock Options and Share Incentive Plans - The company has adopted two share incentive plans, with the 2008 plan having been fully vested and the 2018 plan currently in effect[152] - The total number of shares granted to directors during the year was 11,538,500, with 3,991,000 shares granted in the year and 3,011,000 shares vested[157] - The company plans to grant 5,000,000 shares to Joseph Galli Jr. over five years, contingent on achieving specific performance targets[157] Major Shareholders - Major shareholders include JPMorgan Chase & Co. with a total shareholding of 156,216,031 shares, representing approximately 8.51% of total equity[197] - The Bank of New York Mellon Corporation holds 91,822,534 shares, accounting for approximately 5.00% of total equity[197]

Powerful Brands Innovative Products Exceptional People Operational Excellence 2022 Results Presentation March 1st, 2023 Frank Chan 2022 Results | --- | --- | --- | --- | |---------------------------|---------|---------|---------| | | 2021 | 2022 | Change | | Sales | $13,203 | $13,254 | +0.4% | | Gross Profit | $5,122 | $5,213 | +1.8% | | Gross Margin % | 38.8% | 39.3% | +54 bps | | EBIT | $1,192 | $1,201 | +0.8% | | % of sales | 9.0% | 9.1% | | | Net Profit | $1,099 | $1,077 | -2.0% | | % of sales | 8.3% | ...

Techtronic Industries Company Limited (OTCQX:TTNDY) Q4 2022 Earnings Conference Call March 1, 2023 7:00 AM ET Company Participants Horst Pudwill - Chairman Frank Chan - Group Chief Financial Officer Joe Galli - Chief Executive Officer Conference Call Participants Operator Welcome to Techtronic Industries' 2022 Annual Results Announcement Analyst and Investor Webcast. In this annual results webcast, TTI will share the updated performance for the full-year ended December 31, 2022. Before we begin, let me intr ...

Financial Performance - The company reported a revenue of $7,034 million for the first half of 2022, representing a 10.0% increase compared to $6,394 million in 2021[7]. - Net profit attributable to shareholders rose by 10.4% to $578 million, compared to $524 million in 2021[7]. - Earnings before interest and taxes (EBIT) increased by 10.7% to $633 million, up from $572 million in the prior year[7]. - Earnings per share (EPS) increased by 10.4% to 31.59 cents, up from 28.62 cents in the previous year[7]. - The company’s total comprehensive income for the period amounted to $663,840 thousand, compared to $589,258 thousand for the same period last year, indicating an increase of approximately 12.6%[38]. - The group’s profit before tax for the six months ended June 30, 2022, was $621,467, compared to $563,022 for the same period in 2021, indicating an increase of about 10.4%[47]. Dividends - The company declared an interim dividend of approximately 12.23 cents per share, reflecting an increase of 11.8% from 10.94 cents in 2021[7]. - The interim dividend declared was HK$0.95 per share (approximately $0.1223), an increase from HK$0.85 per share (approximately $0.1094) in the previous year[30]. - The group announced an interim dividend of HKD 0.95 per share, totaling approximately $224,317,000, compared to $200,627,000 in the previous year, which is an increase of about 11.8%[54]. Gross Margin and Operating Profit - Gross margin reached 39.1%, an increase of 50 basis points from 38.6% in the previous year, marking the 14th consecutive half-year of growth[4][7]. - Gross profit for the same period was $2,746,745 thousand, up from $2,465,045 thousand, reflecting a gross margin improvement[35]. - Operating profit before interest and tax grew by 10.7% to $633,000,000, while net profit increased by 10.4% to $578,000,000[9]. Capital Expenditures - Capital expenditure for the first half was $229,000,000, a decrease of 6.4% from the previous year, focusing on new products and capacity expansion[10]. - Capital expenditures totaled $229,000,000, down from $245,000,000 in the same period last year[27]. - The group invested approximately $229,397,000 in property, plant, and equipment during the period, compared to $245,071,000 in the same period of 2021[56]. Employee and Workforce - The company employs over 47,000 people as of the first half of 2022, supporting its global operations[2]. - The company employed a total of 47,568 employees, down from 49,934 employees in the same period last year, with total employee costs amounting to $1,260,000,000[29]. Inventory and Supply Chain - The inventory days for finished goods decreased by 3 days to 115 days, with expectations for further decline in the second half of 2022[11]. - Total inventory was $5,232,000,000, an increase from $4,471,000,000, with inventory turnover days increasing from 136 to 138 days[26]. - The company experienced a decrease in inventory increase to $487,681 thousand from $1,299,307 thousand, a reduction of 62.5%[39]. Research and Development - Research and development expenses for the period were $231,780 thousand, compared to $196,133 thousand in the previous year, reflecting an increase of 18.2%[35]. - The company plans to continue investing in innovative products, including the Milwaukee personal protective equipment (PPE) line, to drive future growth[10]. Market Performance - Sales growth in local currency was reported at 12.1%, contributing to a total sales increase of 67% over the past two years[3]. - The Milwaukee business recorded a sales growth of 25.8% in local currency, contributing significantly to overall performance[10]. - The revenue from power tools was $6,561,632, while floor care and cleaning generated $471,974, with total external sales contributing to the overall revenue[45]. Debt and Liabilities - The net debt to equity ratio was 40.5%, compared to 14.8% as of June 30, 2021[24]. - The company’s total liabilities decreased significantly, with the repayment of unsecured loans amounting to $2,137,061 thousand compared to $1,916,998 thousand in the previous year[40]. Shareholder Information - The company’s total equity attributable to shareholders increased to $4,489,001 thousand as of June 30, 2022, up from $4,265,576 thousand at the end of 2021, reflecting a growth of about 5.3%[38]. - The company’s board members and key executives held a total of 363,284,294 shares, representing approximately 19.80% of the total equity[71]. - The company’s major shareholders include various entities under JPMorgan Chase & Co., indicating a strong institutional ownership structure[88]. Governance and Compliance - The board confirmed compliance with the Corporate Governance Code during the six months ending June 30, 2022[90]. - The audit committee reviewed the financial statements in accordance with the listing rules and confirmed adherence to accounting principles[93]. - The company has adopted a strict code of conduct for employees involved in securities trading to prevent misuse of sensitive information[91].

Techtronic Industries Co Ltd (OTCQX:TTNDY) Q2 2022 Results Earnings Conference Call August 10, 2022 8:00 AM ET Company Participants Horst Pudwill - Chairman Frank Chi Chung Chan - Group Chief Financial Officer Joseph Galli Jr - Chief Executive Officer Conference Call Participants Operator Ladies and gentlemen, welcome to Techtronic Industries 2022 Interim Results Announcement Analyst and Investor Webcast. In this interim results webcast, TTI will share the updated performance for the six months ended the 30 ...