TECHTRONIC INDUSTRIES DELIVERS STRONG FIRST HALF PERFORMANCE

GROWING SALES TO US$8.3 BILLION, NET PROFIT INCREASED TO US$738 MILLION

HONG KONG, Aug. 4, 2026 /PRNewswire/ -- Techtronic Industries Co. Ltd. ("TTI" or the "Group") (stock code: HK: 0669, ADR symbol:

TTNDY), a global cordless power tool, outdoor power equipment and floorcare & cleaning company, is pleased to announce its results for the six-month period ended June 30, 2026. The Group delivered record first half results in 2026, with revenue growing 5.9% to US$8.3 billion. Its two leading brands, MILWAUKEE and RYOBI, both delivered a strong performance in the first half of 2026, growing at a combined 8.2% underlying growth rate in local currency.

• TTI delivered record first half results in 2026, with revenue growing 5.9% to US$8.3 billion and net profit increasing 17.5% to US$738 million. 
• Our global MILWAUKEE business grew 10.5% on an underlying basis in local currency, after adjusting for the planned 2025 timing impact related to the MILWAUKEE Americas ERP system conversion.
• RYOBI, the #1 global consumer cordless tool and outdoor products brand, grew 1.7% in local currency to US$1.9 billion in the first half of 2026. 
• EBIT margin expanded 86 basis points to a record high 9.9%, up from 9.1% in the first half of 2025. More importantly, we are well positioned to meet or exceed our internal target of 10.0% EBIT margin by 2027.
• We delivered US$753 million of free cash flow in the first half of 2026 and we are on track for another strong free cash flow performance in the second half. 
• The Company commenced its US$500 million automatic share repurchase plan following authorization and approval in June 2026. 

 

Gross margin expanded 258 basis points to a record 42.9% in the first half of 2026. The 2026 gross margin expansion of 163 basis points was driven from the annualization of our tariff-mitigation efforts such as optimizing production, productivity gains, and supplier partnerships. EBIT grew 15.9% to US$822 million, while EBIT margin increased 86 basis points to 9.9%. Net Profit increased 17.5% to US$738 million due to lower net finance costs, and earnings per share rose 17.8% to US40.50 cents. Working capital as a percentage of sales improved 11 basis points from last year to 16.6%. TTI generated US$753 million in positive Free Cash Flow in the first six months of 2026, ending the period in a US$1.066 billion net cash position. In June 2026, TTI commenced its automatic share repurchase plan of up to US$500 million over the next 18 months. Through the end of July, it has repurchased US$42 million of stock pursuant to the plan.

The Group's reportable segment structure is changed from the previous business segments of "Power Equipment" and "Floorcare and Cleaning" to the newly defined segments of "Professional" and "Consumer". The Professional segment delivered sales of US$5.9 billion in the first half of 2026, an increase of 9.7% in reported currency. The Consumer segment delivered sales of US$2.4 billion in the first half of 2026, a decrease of 2.5%.

The Directors have resolved to declare an interim dividend of HK150.00 cents (approximately US19.31 cents) (2025: HK125.00 cents (approximately US16.09 cents)) per share for the six-month period ended

June 30, 2026. The interim dividend will be paid to shareholders listed on the register of members of the Company on September 4, 2026. It is expected that the interim dividend will be paid on or about September 18, 2026.

Mr. Horst Pudwill, Executive Chairman of TTI, said, "With the best people and strongest culture, deepest relationships with the core trades and customers, the most robust product roadmap, and the healthiest balance sheet in TTI's history, we are poised to continue leading the industry in the years to come."

Mr. Steven P. Richman, CEO of TTI, commented, "After delivering a 9.9% EBIT margin in the first six months of 2026, we have an increased level of confidence in our ability to meet or exceed our internal target of 10.0% EBIT margin by 2027 with further upside in 2028 and beyond. TTI is poised to deliver another outstanding year in 2026."

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 47,000 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.