OTCQX:TTNDY

Techtronic Industries Delivers Solid 2023 Annual Results

Retrieved on: 
Wednesday, March 6, 2024
Technology, Construction & Property, Other Technology, Specialty, Manufacturing, Machine Tools, Metalworking & Metallurgy, Hardware, Retail, Other Construction & Property, Growth, Electronics, Consumer, Artificial intelligence, Traction, TTI

*For the year ended December 31, 2023

Key Points: 
  • *For the year ended December 31, 2023
    Gross margin improved 14 bps to 39.5% in 2023.
  • In the second half of 2023, EBIT improved to US$575 million, a 1.1% increase versus the second half of 2022.
  • Working capital as a percent of sales improved from 21.2% last year to 17.7% in 2023.
  • The TTI Power Equipment segment delivered sales of US$12.8 billion in 2023, up 3.8% in reported currency and up 4.1% in local currency.

Business Update: Reaffirming Second Half 2023 Sales Targets

Retrieved on: 
Wednesday, October 25, 2023
Retail, Home Goods, Specialty, Office Products, The Home Depot, Professional Tool & Equipment News, OTCQX, Consumer, Ernst Home Centers, Growth, Partner, Investment

Based on the strength of our third quarter sales, we are increasingly confident in our mid-single digit revenue growth target for the second half of 2023, as provided at the time of the 2023 Interim Results Announcement, Analyst and Investor Webcast in August 2023, with a potential to modestly exceed these expectations.

Key Points: 
  • Based on the strength of our third quarter sales, we are increasingly confident in our mid-single digit revenue growth target for the second half of 2023, as provided at the time of the 2023 Interim Results Announcement, Analyst and Investor Webcast in August 2023, with a potential to modestly exceed these expectations.
  • All major business units and geographic regions have continued to contribute to our strong performance in the third quarter of 2023.
  • Our flagship Milwaukee business continues to outperform and has accelerated from our first half of 2023 growth levels of +9%.
  • We are excited about the opportunities in our professional business and continue to strategically invest in Milwaukee to fuel our double-digit growth target in the second half of 2023 and beyond.

The Home Depot Honors TTI an Unprecedented Three Partner of the Year Awards

Retrieved on: 
Monday, September 25, 2023
Home Goods, Construction & Property, Machinery, Specialty, Machine Tools, Metalworking & Metallurgy, Other Construction & Property, Manufacturing, Retail, Lawn mower, Partnership, Chicago Innovation Awards, Professional Tool & Equipment News, Hans Hassle, Mower, TTI, The Home Depot, Home, Partner, The Home, OTCQX, Zero-turn mower, RYOBI, BMW

In addition, RYOBI Outdoor Power Equipment was one of the finalists of the 2023 Innovation Award for its high marks in product innovation.

Key Points: 
  • In addition, RYOBI Outdoor Power Equipment was one of the finalists of the 2023 Innovation Award for its high marks in product innovation.
  • RYOBI 80V HP LITHIUM Zero Turn Riding Mowers and Riding Lawn Tractors deliver performance that exceeds the power of gas, while eliminating the hassles and inconvenience associated with traditional gas equipment.
  • The Zero Turn Mowers feature the iDrive Intelligent Drive System, allowing for easy maneuverability, with an intuitive one-handed joystick control.
  • Mr. Horst Pudwill, Chairman of TTI, said, “No supplier has ever won three Partner of the Year awards in a single year.

TTI Delivers Solid 2023 First Half Results

Retrieved on: 
Wednesday, August 9, 2023
Machine Tools, Metalworking & Metallurgy, Retail, Other Retail, Other Construction & Property, Manufacturing, Construction & Property, Machinery, OTCQX, Flagship, Consumer, Growth, Professional Tool & Equipment News, TTI, Cryptocurrency

Global leader in cordless Professional Tools, DIY Tools, and Outdoor Power Equipment, Techtronic Industries Co. Ltd. (“TTI” or the “Group”) (stock code: 669, OTCQX: TTNDY, TTNDF) is pleased to announce its results for the six months ended June 30, 2023.

Key Points: 
  • Global leader in cordless Professional Tools, DIY Tools, and Outdoor Power Equipment, Techtronic Industries Co. Ltd. (“TTI” or the “Group”) (stock code: 669, OTCQX: TTNDY, TTNDF) is pleased to announce its results for the six months ended June 30, 2023.
  • The Group delivered solid results for the first half of 2023, outpacing the market in sales performance and profit generation, while reducing inventory and delivering outstanding free cash flow.
  • Overall sales declined 2.2% in reported currency, and 1.0% in local currency, to US$6.9 billion.
  • TTI delivered solid results for the first half of 2023, outpacing the market in sales performance and profit generation, while reducing inventory and delivering outstanding free cash flow
    Our Flagship MILWAUKEE business, which is the #1 global professional power tool brand, outperformed the market with 8.7% growth in local currency
    Delivered record first half Free Cash Flow of US$301 million, an improvement of US$649 million from the first half of 2022

TTI Announces the Commencement of OTCQX Trading

Retrieved on: 
Tuesday, May 16, 2023
Machine Tools, Metalworking & Metallurgy, Retail, Other Construction & Property, Home Goods, Manufacturing, Specialty, Construction & Property, Professional Tool & Equipment News, ADR, OTC Markets Group, The Sydney Stock Exchange, Stock exchange, American depositary receipt, TTI, OTCM QX ADR 30 Index, SEHK, OTCQX, Techtronic Industries, PINK, Security (finance)

Global leader in cordless Professional Tools, DIY Tools, and Outdoor Power Equipment, Techtronic Industries Co. Ltd. (“TTI” or the “Group”) (stock code: 669, OTCQX: TTNDY, TTNDF) is pleased to announce it has qualified to trade on the OTCQX Best Market, previously trading on the PINK market.

Key Points: 
  • Global leader in cordless Professional Tools, DIY Tools, and Outdoor Power Equipment, Techtronic Industries Co. Ltd. (“TTI” or the “Group”) (stock code: 669, OTCQX: TTNDY, TTNDF) is pleased to announce it has qualified to trade on the OTCQX Best Market, previously trading on the PINK market.
  • Techtronic Industries Co. Ltd. begins trading its American Depositary Receipts (ADRs) on May 16 on the OTCQX Market under the symbols “TTNDY” (5:1 ordinary) and “TTNDF” (1:1 ordinary).
  • Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors.
  • Mr. Joseph Galli, CEO of TTI, commented, “We are delighted to begin trading on the OTCQX market.