Techtronic Industries Delivers Solid Performance in 2025

Techtronic Industries Co. Ltd. (“TTI” or the “Company”) (stock code: HK:0669, ADR symbol: TTNDY), a global cordless power tool, outdoor power equipment and floorcare & cleaning company, is pleased to announce the audited consolidated results of the Company and its subsidiaries for the year ended December 31, 2025. TTI delivered record sales of US$15.3 billion in 2025, growing 4.4% on a reported basis and 4.1% in local currency. Our two leading brands, MILWAUKEE and RYOBI, both delivered solid performances in 2025 with MILWAUKEE growing 7.9% and RYOBI growing 5.4% in local currency.

• TTI delivered record sales and earnings despite significant tariff headwinds, growing sales 4.4% to US$15.3 billion and net profit 6.8% to US$1.2 billion.
• Our Global MILWAUKEE business grew 8.1% on a reported basis with underlying sales rising 10.3% in local currency (excluding the discretionary suspension of certain second half promotions due to tariffs).
• RYOBI, the #1 global consumer cordless tool and outdoor products brand, grew 5.4% in local currency.
• Reported EBIT Margin increased 7 bps to 8.8% as a percentage of sales, while normalized EBIT Margin (after adjusting for the exit of the HART business) increased 57 bps to 9.3%, due to strong performance in the EMEA region, corporate cost out initiatives and a focus on driving leverage and profitability.
• TTI reported nearly US$1.4 billion in Free Cash Flow in 2025, marking the third consecutive year of US$1.2 billion+ in Free Cash Flow and ending the year in a net cash position of US$700 million.
• The Board intends to implement a discretionary share buyback plan of up to US$500 million over the next 18 months.

Financial Performance Highlights for 2025
	2025* US$’ million	2024 US$’ million	Changes
Revenue	15,260	14,622	+4.4%
Gross profit margin	41.2%	40.3%	+91 bps
EBIT	1,336	1,270	+5.2%
Profit attributable to Owners of the Company	1,198	1,122	+6.8%
Basic Earnings per share (US cents)	65.61	61.43	+6.8%
Dividend per share (approx. US cents)	33.08	29.09	+13.7%
*For the year ended December 31, 2025

Gross margin improved 91 basis points to 41.2% in 2025. The increase reflects the positive mix impact of our high margin MILWAUKEE business, productivity enhancements, and operational efficiencies created in our RYOBI and other Consumer businesses. Margin expansion accelerated as tariff mitigation efforts materialized in the second half of the year. EBIT grew 5.2% to US$1.3 billion, while EBIT margin increased 7 basis points to 8.8%. Net Profit increased 6.8% to US$1.2 billion and earnings per share rose 6.8% to US65.61 cents. As a percentage of sales, working capital rose 109 bps to 15.5%. Inventory days on hand increased 4 days to 106 days and remain at a very comfortable level. The Company generated nearly US$1.4 billion in positive Free Cash Flow in 2025, ending the period in a US$700 million net cash position.

The TTI Power Equipment segment delivered sales of US$14.4 billion in 2025, an increase of 5.3% in reported currency and 5.0% in local currency. On a reported basis, MILWAUKEE achieved 8.1% reported sales growth in 2025, finishing up 7.9% in local currency. RYOBI business had another outstanding year, growing 5.4% in local currency and marking the second consecutive year of mid-single digit revenue growth following the post-pandemic adjustment period of 2022-23. Sales for Floorcare and Cleaning fell 9.7% in 2025 due to weakness in the HOOVER, DIRT DEVIL, ORECK, and VAX brands.

The Board is recommending a final dividend of HK132.00 cents (approximately US16.99 cents) (2024: HK118.00 cents (approximately US15.19 cents)) per share. Together, with the interim dividend of HK125.00 cents (approximately US16.09 cents) per share, this will result in a full-year dividend of HK257.00 cents (approximately US33.08 cents) per share.

Mr. Horst Pudwill, Executive Chairman of TTI, said, “With the healthiest balance sheet in the Company’s history, a diversified global manufacturing footprint, and stable capital spending requirements, we anticipate our ability to further increase returns to shareholders in the years to come.”

Mr. Steven P. Richman, CEO of TTI, commented, “With the #1 Professional and Consumer brands in the World, TTI is off to a strong start in 2026 and we look forward to another year of strong results. On a blended basis, we expect the core MILWAUKEE and RYOBI businesses to grow revenue mid-to-high single digits.”

Forward-Looking Statements

This announcement contains certain forward-looking statements or uses certain forward-looking terminologies which are based on the current expectations, estimates, projections, beliefs and assumptions of TTI about the businesses and the markets in which the Group operates and 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 risk, uncertainties and factors beyond the control of TTI. Therefore, actual outcomes and returns may differ materially from the assumptions made and the statements contained in this announcement.

About TTI

Techtronic Industries Company Limited (“TTI” or the “Company”), founded in 1985 by German entrepreneur Horst Julius Pudwill, is a world leader in cordless technology. As a pioneer in Power Tools, Outdoor Power Equipment, Floorcare and Cleaning Products, TTI serves professional, industrial, Do It Yourself (DIY), and consumer markets worldwide. With more than 48,000 employees globally, the company’s relentless focus on innovation and strategic growth has established its leading position in the industries it serves.

MILWAUKEE is at the forefront of TTI’s professional tool portfolio. With global research and development headquartered in Brookfield, Wisconsin, the historic MILWAUKEE brand is renowned for driving innovation, safety, and jobsite productivity worldwide. The RYOBI brand, headquartered in Greenville, South Carolina, remains the top choice for DIYers and continues to set the standard in DIY tool innovation. TTI’s diverse brand portfolio also includes trusted brands like AEG, EMPIRE, HOMELITE, and leading floorcare 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, with the remaining ownership held largely by institutional investors at North American and European-owned firms. TTI is publicly traded on the Hong Kong Stock Exchange and is a constituent stock of the Hang Seng Index, operating globally with a strong commitment to environmental, social, and corporate governance standards. For more information, visit www.ttigroup.com.

All trademarks listed other than AEG and RYOBI are owned by 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260303920058/en/