OTC-PINK:TTNDY

TECHTRONIC INDUSTRIES DELIVERS SOLID 2023 ANNUAL RESULTS

Retrieved on:

Wednesday, March 6, 2024

Growth, Electronics, Consumer, Artificial intelligence, Traction, TTI

HONG KONG, March 6, 2024 /PRNewswire/ -- 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 the audited consolidated results of the Company and its subsidiaries for the year ended December 31, 2023. TTI delivered US$13.7 billion of sales in 2023, up 3.6% in reported growth and 3.9% in local currency. Both the MILWAUKEE and our Consumer group of businesses gained momentum in the second half of 2023.

Key Points:

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.
With a healthy balance sheet, solid cash position, and strong growth outlook, we look forward to 2024 with confidence."
Mr. Joseph Galli, CEO of TTI, commented, "Our exceptional results over the past fifteen years have consistently surpassed overall market performance.

TECHTRONIC INDUSTRIES DELIVERS SOLID 2023 ANNUAL RESULTS

Retrieved on:

Wednesday, March 6, 2024

Growth, Electronics, Consumer, Artificial intelligence, Traction, TTI

HONG KONG, March 6, 2024 /PRNewswire/ -- 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 the audited consolidated results of the Company and its subsidiaries for the year ended December 31, 2023. TTI delivered US$13.7 billion of sales in 2023, up 3.6% in reported growth and 3.9% in local currency. Both the MILWAUKEE and our Consumer group of businesses gained momentum in the second half of 2023.

Key Points:

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.
With a healthy balance sheet, solid cash position, and strong growth outlook, we look forward to 2024 with confidence."
Mr. Joseph Galli, CEO of TTI, commented, "Our exceptional results over the past fifteen years have consistently surpassed overall market performance.

BUSINESS UPDATE, REAFFIRMING SECOND HALF 2023 SALES TARGETS

Retrieved on:

Wednesday, October 25, 2023

The Home Depot, OTCQX, Consumer, Ernst Home Centers, Growth, Partner, Investment, Cryptocurrency

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 AS PART OF THE HOME DEPOT 2023 INNOVATION AWARD

Retrieved on:

Monday, September 25, 2023

Lawn mower, Partnership, Chicago Innovation Awards, The Home Depot, Hans Hassle, Mower, TTI, Home, Partner, 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.
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.
This is a great recognition of our team's dedication to our extremely strong and outstanding partnership with The Home Depot."

TTI DELIVERS SOLID 2023 FIRST HALF RESULTS

Retrieved on:

Wednesday, August 9, 2023

OTCQX, Flagship, Consumer, Growth, Professional Tool & Equipment News, TTI

HONG KONG, Aug. 9, 2023 /PRNewswire/ -- 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:

HONG KONG, Aug. 9, 2023 /PRNewswire/ -- 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 DELIVERS SOLID 2023 FIRST HALF RESULTS

Retrieved on:

Wednesday, August 9, 2023

OTCQX, Flagship, Consumer, Growth, Professional Tool & Equipment News, TTI

HONG KONG, Aug. 9, 2023 /PRNewswire/ -- 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:

HONG KONG, Aug. 9, 2023 /PRNewswire/ -- 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

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)

TTI's ordinary shares will continue to trade on The Stock Exchange of Hong Kong Limited (SEHK) under the stock code: 669.

Key Points:

TTI's ordinary shares will continue to trade on The Stock Exchange of Hong Kong Limited (SEHK) under the stock code: 669.
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.

TTI Announces the Commencement of OTCQX Trading

Retrieved on:

Tuesday, May 16, 2023

TTI's ordinary shares will continue to trade on The Stock Exchange of Hong Kong Limited (SEHK) under the stock code: 669.

Key Points:

TTI's ordinary shares will continue to trade on The Stock Exchange of Hong Kong Limited (SEHK) under the stock code: 669.
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.

TTI Commits to Setting Science-Based Targets

Retrieved on:

Monday, April 3, 2023

Science, Science Based Targets initiative, ADR, Culture, Silent Scope 2, Stock exchange, Carbon, TTI, Global warming potential, The Company, Sustainability, Appendix, Renewable energy, Social

HONG KONG, April 3, 2023 /PRNewswire/ -- Global power equipment and floorcare & cleaning company Techtronic Industries Co. Ltd. ("TTI" or the "Company") (stock code: HK:0669, ADR symbol: TTNDY) is proud to announce it has committed to setting Science-Based targets by signing the Science Based Target initiatives (SBTi) commitment letter.

Key Points:

HONG KONG, April 3, 2023 /PRNewswire/ -- Global power equipment and floorcare & cleaning company Techtronic Industries Co. Ltd. ("TTI" or the "Company") (stock code: HK:0669, ADR symbol: TTNDY) is proud to announce it has committed to setting Science-Based targets by signing the Science Based Target initiatives (SBTi) commitment letter.
This action officially aligns the Company with the mission of the Paris Agreement and establishes our commitment to reducing carbon emissions throughout our value chain.
We are progressing towards our Scope 1 and Scope 2 reduction goal of a 60% absolute reduction by 2030, based on our 2021 baseline.
To complete our commitment, we plan to validate our current 60% reduction and complete our Scope 3 mapping to submit our reduction targets to SBTi for validation by 2025.

TTI Commits to Setting Science-Based Targets

Retrieved on:

Monday, April 3, 2023

Science, Science Based Targets initiative, ADR, Culture, Silent Scope 2, Stock exchange, Carbon, TTI, Global warming potential, The Company, Sustainability, Appendix, Renewable energy, Social

HONG KONG, April 3, 2023 /PRNewswire/ -- Global power equipment and floorcare & cleaning company Techtronic Industries Co. Ltd. ("TTI" or the "Company") (stock code: HK:0669, ADR symbol: TTNDY) is proud to announce it has committed to setting Science-Based targets by signing the Science Based Target initiatives (SBTi) commitment letter.

Key Points:

HONG KONG, April 3, 2023 /PRNewswire/ -- Global power equipment and floorcare & cleaning company Techtronic Industries Co. Ltd. ("TTI" or the "Company") (stock code: HK:0669, ADR symbol: TTNDY) is proud to announce it has committed to setting Science-Based targets by signing the Science Based Target initiatives (SBTi) commitment letter.
This action officially aligns the Company with the mission of the Paris Agreement and establishes our commitment to reducing carbon emissions throughout our value chain.
We are progressing towards our Scope 1 and Scope 2 reduction goal of a 60% absolute reduction by 2030, based on our 2021 baseline.
To complete our commitment, we plan to validate our current 60% reduction and complete our Scope 3 mapping to submit our reduction targets to SBTi for validation by 2025.