Techtronic Industries posts strong results in the first half of the year

Techtronic Industries Co. Ltd. (‘TTI’ or the ‘Group’) ((stock code: HK: 0669, ADR symbol: TTNDY), a global company active in cordless power tools, garden machinery, and floor maintenance and cleaning equipment, is pleased to announce results for the six-month period ended 30 June 2026. The Group achieved record results in the first half of 2026, with revenue rising by 5.9% to US$ 8.3 billion. The two leading brands, MILWAUKEE and RYOBI, both performed strongly in the first half of 2026, with combined underlying growth of 8.2% in local currency.

• TTI posted record results in the first half of 2026: revenue rose by 5.9% to US$ 8.3 billion and net profit increased by 17.5% to US$ 738 million.
• Our global MILWAUKEE business grew by 10.5% on an underlying basis in local currency, adjusted for the planned effect on timing in 2025 related to the transition to the ERP system for MILWAUKEE in North and South America.
• RYOBI, the world’s number 1 brand for cordless tools and consumer garden products, grew by 1.7% in local currency to US$ 1.9 billion in the first half of 2026.
• The EBIT margin rose by 86 basis points to a record level of 9.9%, compared to 9.1% in the first half of 2025. More importantly, we are well positioned to meet or exceed our internal target of an EBIT margin of 10.0% by 2027.
• We generated free cash flow of US$ 753 million in the first half of 2026 and are on track for continued strong free cash flow performance in the second half of the year.
• The company has commenced its automated share buyback program valued at US$ 500 million, following the consent and approval granted for this purpose in June 2026.

The gross margin rose by 258 basis points in the first half of 2026 to a record level of 42.9%. The increase in the gross margin of 163 basis points in 2026 was the result of the year-on-year pass-through of measures to limit the impact of tariffs, such as production optimization, productivity gains, and supplier partnerships. EBIT rose by 15.9% to US$ 822 million, while the EBIT margin increased by 86 basis points to 9.9%. Net profit rose by 17.5% to US$ 738 million due to lower net financing costs, and earnings per share increased by 17.8% to US$ 40.50. Working capital as a percentage of revenue improved by 11 basis points compared to last year to 16.6%. TTI generated a positive free cash flow of US$ 753 million in the first six months of 2026 and closed the period with a net cash position of US$ 1.066 billion. In June 2026, TTI initiated an automated share buyback program worth up to US$ 500 million, which was to run over a period of 18 months. By the end of July, US$ 42 million worth of shares had been repurchased under this program.

The Group’s segment classification for reporting purposes has been changed: the former business segments ‘Power Equipment’ (power tools) and ‘Floorcare and Cleaning’ (floor and cleaning equipment) have been replaced by the new segments ‘Professional’ (professional market) and ‘Consumer’ (consumer market). The ‘Professional’ segment generated revenue of US$ 5.9 billion in the first half of 2026, an increase of 9.7% in reported currency. The ‘Consumer’ segment achieved revenue of US$ 2.4 billion in the first half of 2026, a decrease of 2.5%.

The Board has decided to pay an interim dividend of 150.00 HK cents (approximately 19.31 US cents) (2025: 125.00 HK cents; approximately 16.09 US cents) per share for the six-month period ending 30 June 2026. The interim dividend will be paid to shareholders listed in the company’s share register on 4 September 2026. Payment of the interim dividend is expected to take place on or around 18 September 2026.

Mr. Horst Pudwill, Executive Chairman of TTI , stated: “Thanks to the best people and the strongest corporate culture, deep relationships with core sectors and customers, the most solid product roadmap, and the healthiest balance sheet in TTI’s history, we are excellently positioned to lead the sector in the coming years as well.”

Mr. Steven P. Richman, CEO of TTI, commented: “After realizing an EBIT margin of 9.9% in the first six months of 2026, we are more confident that we can meet or exceed our internal target of an EBIT margin of 10.0% by 2027, with further growth opportunities in 2028 and beyond. TTI is on track to achieve excellent results in 2026 as well.”

Forward-looking statements

This announcement contains certain forward-looking statements or uses certain forward-looking terminologies based on TTI’s current expectations, estimates, projections, beliefs, and assumptions regarding the companies and markets in which the Group operates and which reflect TTI’s views as of the date of this announcement. These forward-looking statements are not guarantees of future performance and are subject to market risks, uncertainties, and factors beyond TTI’s control. Therefore, actual outcomes and returns may differ materially from the assumptions and statements in this announcement.

Over TTI

Techtronic Industries Company Limited (“TTI” or the “Company”), founded in 1985 by German entrepreneur Horst Julius Pudwill, is a global leader in cordless technology. As a pioneer in power tools, outdoor power tools, and floor cleaning and cleaning products, TTI serves professional, industrial, DIY, and consumer markets worldwide. With over 47,000 employees globally, the company has established itself as a leader in the sectors it covers through its tireless focus on innovation and strategic growth.

MILWAUKEE leads the professional tool portfolio at TTI. With global research and development based at its headquarters in Brookfield, Wisconsin, the historic MILWAUKEE brand is known for driving innovation, safety, and productivity in the workplace worldwide. The RYOBI brand , headquartered in Greenville, South Carolina, remains the first choice for DIYers and continues to set the standard in DIY tool innovation. TTI’s diverse brand portfolio also includes trusted brands such as AEG, EMPIRE, HOMELITE, and leading floor care names HOOVER , ORECK , VAX , and DIRT DEVIL .

TTI’s international recognition and renowned brand portfolio are supported by a strong ownership structure that underscores the company’s global reach and stability. The Pudwill family remains the company’s largest shareholder, and the remaining ownership is largely held by institutional investors at firms in North America and Europe. TTI is listed on the Hong Kong Stock Exchange and is an underlying stock of the Hang Seng Index, which operates globally with a strong commitment to environmental, social, and corporate governance standards. For more information, visit www.ttigroup.com .

All trademarks mentioned other than AEG and RYOBI are the property of the Group. AEG is a registered trademark of AB Electrolux (publ.) and is used under license. RYOBI is a registered trademark of Ryobi Limited and is used under license.

This announcement is officially valid in the original source language. Translations are intended solely as a reading aid and must be compared with the text in the source language, which is the only legally valid version.

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