创科实业(00669) - 2024 - 中期财报

Financial Performance - Total sales for the first half of 2024 reached $7.312 billion, representing a 6.3$6.879 billion in the same period of 2023[5]. - Net profit attributable to shareholders increased by 15.7% to $550 million, compared to$476 million in the first half of 2023[5]. - Earnings per share rose by 15.8% to 30.12 cents, up from 26.00 cents in the same period last year[5]. - The company's total revenue for the reporting period was $7.312 billion, representing a 6.3$550 million, with basic earnings per share rising to $0.3012, up 15.8$515,282,000, compared to $457,158,000 in the previous year, reflecting an increase of approximately 12.7$500,561 thousand for the six months ended June 30, 2024, compared to $475,779 thousand for the same period in 2023, representing an increase of approximately 5.2$550,365,000, compared to $475,779,000 for the same period in 2023, representing an increase of approximately 15.7$2,920,717,000, up from $2,701,664,000 in the previous year, indicating a growth of about 8.1$2.302 billion, accounting for 31.5% of revenue, reflecting strategic investments in new product commercialization and market expansion[19]. Cash Flow and Investments - Free cash flow reached a record $508 million, an increase of$207 million compared to the first half of 2023[6]. - The company generated free cash flow of $508 million, compared to$301 million in the same period last year[21]. - Operating cash flow as a percentage of sales was 18.7%, down from 22.7% in the same period last year[24]. - The company incurred a loss of $99,885 thousand from the purchase of property, plant, and equipment, compared to$209,579 thousand in the previous year[37]. - The company reported a net cash increase of $293,480 thousand for the six months ended June 30, 2024, compared to$82,900 thousand in the same period last year[37]. Capital Expenditures and Debt - Capital expenditures for the first half of 2024 were $100 million, a decrease of 52.3$65,182 thousand from $78,519 thousand year-over-year[36]. Employee and Shareholder Engagement - The company employed 49,778 staff globally, an increase from 44,288 employees as of June 30, 2023, reflecting a growth of approximately 12.1$30,960 thousand in the current period[35]. - The company has a total of 19,001,000 unexercised options at the end of the reporting period, down from 19,751,000 at the beginning, reflecting a decrease of approximately 3.8%[82]. Market Performance and Product Development - Milwaukee brand sales grew by 11.2% in local currency, reinforcing its position as the leading professional power tool brand globally[8]. - Milwaukee business achieved a revenue growth of 11.2% in the first half of the year, driven by investments in new product development and market expansion[11]. - Milwaukee recently launched the M18 FUEL cordless circular saw, which is noted as the most powerful and fastest cutting cordless saw in the industry[11]. Inventory and Asset Management - Inventory turnover days decreased from 128 days to 104 days, indicating improved inventory management[23]. - Current assets increased significantly to $7,930,699 thousand, up from$7,122,714 thousand, marking an increase of about 11.34%[33]. - The company's total assets less current liabilities reached $7,978,045 thousand, an increase from$7,618,514 thousand, representing a growth of approximately 4.73%[34]. - The total accounts payable as of June 30, 2024, was $1,999,013,000, up from$1,655,367,000 at the end of 2023, reflecting an increase of about 20.8%[61]. Governance and Compliance - The board confirmed compliance with all provisions of the Corporate Governance Code during the six-month period ending June 30, 2024[108]. - The company has adopted a code of conduct for securities trading applicable to all employees who may possess unpublished sensitive information[109]. - The financial information disclosed in the report complies with the requirements of the Listing Rules Appendix D2[111]. Future Outlook - The report contains forward-looking statements based on current expectations and estimates, which may be subject to market risks and uncertainties[119]. - The company plans to distribute the interim dividend for the year 2024 on September 19, 2024[115].