Global leader in cordless Professional Tools, DIY Tools, and Outdoor Power Equipment,
The Group delivered solid results for the first half of 2023, outpacing the market in sales performance and profit generation, while reducing inventory and delivering outstanding free cash flow. Overall sales declined 2.2% in reported currency, and 1.0% in local currency, to
TTI delivered solid results for the first half of 2023, outpacing the market in sales performance and profit generation, while reducing inventory and delivering outstanding free cash flow
Our Flagship
Reduced inventory from the first half of 2022 by
Delivered record first half Free Cash Flow of
Gross Margin expanded for the 15th consecutive first half to 39.3%, a 22 bps increase
Globally, TTI outperformed the market in the first half of 2023.
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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
TTI is a world leader in cordless technology spanning Power Tools, Outdoor Power Equipment, Floorcare and Cleaning Products for the DIY, consumer, professional, and industrial users in the home, construction, maintenance, industrial and infrastructure industries. The Company has a foundation built on four strategic drivers - Powerful Brands, Innovative Products, Exceptional People and Operational Excellence - reflecting an expansive long-term vision to advance cordless technology. The global growth strategy of the relentless pursuit of product innovation has brought TTI to the forefront of its industries while maintaining high environmental, social and corporate governance standards. TTI's powerful brand portfolio includes
Contact:
Email: ross.gilardi@ttihq.com
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