Johnson Electric Holdings Limited ('Johnson Electric'), a global leader in electric motors and motion subsystems, today announced its results for the six months ended 30 September 2020.

Total Group sales for the first half of FY20/21 totalled US$1,330 million, a decrease of 15% compared to the first half of the prior financial year. Net profit attributable to shareholders decreased by 38% to US$101 million or 11.27 US cents per share on a fully diluted basis. Underlying net profit, after adjusting for the effects of a number of significant non-cash and divested items, decreased by 7% to US$98 million. Sales declined significantly in April and May due to the impact of the COVID-19 pandemic, particularly on the automotive industry in Europe and the Americas. During the month of June, the Group began to experience a marked recovery in demand and this positive trend continued throughout the second fiscal quarter. By the month of September, average weekly sales and profitability levels in most parts of our business had returned to levels of a year earlier - and in several areas exceeded them.

Automotive Products Group The Automotive Products Group ('APG'), which accounted for 75% of total Group sales, reported a 19% decrease in sales on a constant currency basis compared to the first half of the prior year. Global light vehicle industry production volumes fell by approximately 24% over the same period. This overall decline in automotive industry activity reflected the progression of the COVID-19 pandemic across different geographic regions over the course of 2020, the impact of various government containment actions on production, and the consequent effects on consumer confidence and end-market vehicle sales. OEM assembly plants in Europe and North America were largely shut down in the period from late March to May. Since then, production has resumed and by September, output for the month in both these regions exceeded the prior year. Nonetheless, total light vehicle production for six months to September in Europe and North America was down 36% and Page 3 of 7 35%, respectively. Over the same period, APG's sales in constant currency to Europe and the Americas region were down by 33% and 26%, respectively. The COVID-19 outbreak hit China first and government-imposed containment measures were concentrated during the period from late January to early March 2020. The country has since witnessed a quicker and, so far, more sustained return to economic and social normality than any other major economy. This was reflected in China's passenger car production volumes for the six months to September, which were approximately 11% higher than the same period in 2019. Elsewhere in Asia, however, the pandemic caused automotive industry production to decline sharply. The output of the export-oriented car industries of Japan and Korea fell by 30% and 13%, respectively. Emerging Asian car markets such as India, Thailand and Indonesia were hit even harder and experienced falls in vehicle output by as much as 50%. As a result, despite the recovery in China, total light vehicle production in Asia for the six months to September was down by almost 11%. Over the same period, APG's sales in Asia were flat in constant currency terms - reflecting both China's higher weighting in the Group's sales mix and APG's innovative product line that is closely aligned to the industry's key growth drivers of emissions reduction, fuel economy and electrification.

Forward Looking Statements This news release contains certain forward looking statements with respect to the financial condition, results of operations and business of Johnson Electric and certain plans and objectives of the management of Johnson Electric. Words such as 'outlook', 'expects', 'anticipates', 'intends', 'plans', 'believe', 'estimates', 'projects', variations of such words and similar expressions are intended to identify such forward-looking statements. Such forward looking statements involve known and unknown risk, uncertainties and other factors which may cause the actual results or performance of Johnson Electric to be materially different from any future results or performance expressed or implied by such forward looking statements. Such forward looking statements are based on numerous assumptions regarding Johnson Electric's present and future business strategies and the political and economic environment in which Johnson Electric will operate in the future.

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