TTNDF - Techtronic Industries Company Limited (TTNDY) Q4 2024 Earnings Call Transcript

2025-03-05 13:00:17 ET

Techtronic Industries Company Limited (TTNDY)

Q4 2024 Results Earnings Conference Call

March 4, 2025, 09:30 PM ET

Company Participants

Horst Julius Pudwill - Chairman

Stephan Horst Pudwill - Vice Chairman

Frank Chi Chung Chan - Group Chief Financial Officer

Steven Philip Richman - Chief Executive Officer

Bobby Shaw - Group President, RYOBI N.A.

Shane Moll - Group President, Milwaukee Tool

Conference Call Participants

Eric Lau - Citigroup

Karen Li - J.P. Morgan

Johnson Wan - Jefferies

Helen Fang - HSBC

Xiao Feng - CLSA

Terence Chang - Macquarie Group

Presentation

Horst Julius Pudwill

Good morning. It gives me great pleasure to welcome all of you to TTI Group 2024 Annual Result Announcement. I would like to start by introducing our Group CFO, Mr. Steve Richmond. And today, the presenter will be our President, Milwaukee Power Tools, Mr. Shane Moll. Thank you. And our RYOBI Power Tool president, Mr. Bobby Shaw. Bobby, welcome.

We had an outstanding 2024 with sales outperforming the market and delivering double-digit growth with strong free cash flow as we will present to you later in this meeting. It is always more easy for me to welcome you with good and strong results. It's understandable.

Our Group Vice Chairman, Mr. Stephan Pudwill, will continue with my opening remarks, before they elaborate our results. Stephan, please.

Stephan Horst Pudwill

Thank you, Chairman. So as the Chairman highlighted, we had an outstanding 2024. With revenue up 6.5%, net profit up 14.9%, and $1.6 billion of free cash flow, I think it's safe to say we had a great year.

Now, at the foundation of this success is innovation. And in order to innovate, you need great culture and exceptional people. So we have spent years assembling what we believe is the greatest team in the industry. And it is this team what sets TTI apart from the competition.

So I'm extremely excited to have Steve, Shane and Bobby with us today to walk us through not only the 2024 results, but also the outlook and to talk about all the exciting opportunities that lie ahead of us in the future. And believe me, there are a lot of opportunities.

Now, before I hand the floor over to our group CFO, Mr. Frank Chan, I would like to mention that TTI was founded by our Chairman, Mr. Horst Pudwill, in 1985. So 2025 marks our 40th anniversary. And actually going back in 2024, that was the 100th anniversary of Milwaukee.

But what I can tell you is that if you think the last 40 years was exciting, the best is yet to come. Thank you. ...

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