Hong KongAugust 10, 2022PR Newswire /-- the world's leading power tools, DIY tools and outdoor gardening tools companiesTechtronic Industries Ltd.("Techtronic Industries" or "Group") (Hong Kong Stock Exchange: 669; ADR:TTNDY of the United States) announces its results for the six months ended June 30, 2022.

Techtronic Industries outperformed the market in the first half of 2022, with sales up 10.0% to $7000000000. In local currency terms, sales grew by 12.1%. Together with a 52 per cent increase in sales in the first half of 2021, Techtronic Industries recorded a total of 67 per cent growth in sales over the two years. Gross profit margin increased for the 14th consecutive first half of the year, rising 50 basis points to 39.1%. Earnings before interest and tax rose 10.7% to $633000000, net income increased 10.4% to $578000000, and earnings per share increased 10.4% to about 31.59 cents.

• Our flagship brand MILWAUKEE outperformed the market significantly, with sales up 25.8%
• Gross profit margin increased for the 14th consecutive first half of the year, reaching 39.1%
• Net profit rose 10.4% to $578000000

We are quite pleased that steady sales growth was recorded in each region in the first half of the year. In local currency terms, other regions, particularly Australia and Asia, recorded excellent growth of 23.0%, compared with 14.1% in Europe and 10.5% in North America.

Techtronic Industries's power tools business grew strongly in the first half of the year, while the floor care business shrank due to slowing demand and customer inventory reduction. Today, as the global leader in professional plug-in tools, the Group's flagship MILWAUKEE business continues to flourish, recording 25.8% sales growth in the first half of the year in local currency terms. This business now accounts for a major part of the company's sales, and the gross profit margin is also growing.

Chairman Techtronic IndustriesHorst PudwillMr"the Group's world-class team is well prepared to manage its business in a challenging macroeconomic environment and continue to outperform the market," he said. We are well positioned to continue to consolidate our leadership in the years to come. "

Chief Executive Officer Techtronic IndustriesJoseph GalliMr"the impressive performance in the first half of the year depends on the continuous introduction of new products and our market leadership. We will continue this effective strategy to drive growth by investing in new products that are significantly higher quality and more technologically advanced. "

About Techtronic Industries

Founded in 1985 and listed on the Hong Kong Stock Exchange in 1990. Techtronic Industries is a global leader in rechargeable technologies such as power tools, outdoor gardening tools, floor care and cleaning products, providing home decoration, construction, maintenance, industrial and infrastructure products for consumers, professionals and industrial users. The Group focuses on four strategic bases: strong brands, innovative products, outstanding talents and operational excellence, with the vision of optimizing rechargeable technology as its long-term expansion. Make unremitting efforts to pursue the spirit of product innovation for the group's global growth strategy and consolidate the group's industry leadership position. Techtronic Industries's strong brand portfolio includes MILWAUKEE, AEG and RYOBI power tools, accessories and hand tools, RYOBI and HOMELITE outdoor gardening tools, EMPIRE drawing and metrology products, and HOOVER, ORECK, VAX and DIRT DEVIL floor care and cleaning products.

Techtronic Industries is a member of the Hang Seng Index, the FTSE RAFI ™All-World 3000 Index, the FTSE 4Good developed Markets Index (FTSE4Good Developed Index) and Morgan Stanley Capital International (MSCI). For more information, please visit.

All the above trademarks are trademarks of Techtronic Industries Group.(惟AEG及RYOBIExcepted)。AEG为AB Electrolux (publ.)The Group is authorized to use the registered trademark.RYOBI为Ryobi LimitedThe Group is authorized to use the registered trademark.