Techtronic Industries : 2023 Analyst Presentation

2023

Analyst Presentation

March 7th, 2024

HORST PUDWILL

CHAIRMAN OF THE BOARD

STEPHAN PUDWILL

VICE CHAIRMAN

FRANK CHAN

CHIEF FINANCIAL OFFICER

2023 Results

	2022
Sales	$13,254
GM %	39.3%
SGA %	30.4%
EBIT	$1,201
% of sales	9.1%
Net Profit	$1,077
% of sales	8.1%

2023

$13,731

39.5%

31.3%

$1,135

8.3%

$976

7.1%

Change +3.6% +14 bps +96 bps -5.5%

-9.4%

EPS (cents)	58.86₵
Final Dividend (HK Cents)	90.00₵

53.36₵

98.00₵

-9.3% +8.9%

2023 Income Statement

2022 2023 Change

Sales	$13,254
Gross Profit	$5,213
% of sales	39.3%
Selling, Distribution, & Marketing	$2,191
Administrative Expenses	$1,350
Research & Development	$484
Total SG&A Expenses	$4,025
% of sales	30.4%
Net Finance Cost	$44
Profit before Income Tax	$1,157
Income Tax Expense	$80

$13,731

$5,420

39.5%

$2,347

$1,406

$549

$4,302

31.3%

$79

$1,056

$80

+3.6%

+4.0%

+7.1%

+4.2%

+13.2%

+6.9%

+79.7% -8.8%-0.6%

Net Profit

$1,077

$976

-9.4%

% of sales

8.1%

7.1%

2023 Financial Position

2022

2023

Change

Non-current Assets

$4,778

$5,279

+10.5%

Current Assets

$8,537

$7,123

-16.6%

Current Liabilities

$6,222

$4,783

-23.1%

Net Current Assets

$2,315

$2,340

+1.1%

Long-term Liabilities $1,888

$1,871

-0.9%

Equity$5,205

$5,748

+10.4%

2023 Financial Figures

2022

2023

Change

Inventory	$5,085
Days	140
Receivables	$1,501
Days	41
Payables	$3,777
Days	104
Net Working Capital	$2,809
% of Sales	21.2%

$4,098

109 -31 days

$1,699

45 +4 days

$3,373

90 -14 days

$2,424

17.7%

CAPEX$581

$502

-13.7%

% of Sales

4.4%

3.7%

2023 Gearing Trend

100.0%

90.0%

80.0%

70.0%

60.0%

50.0%

40.0%

30.0%

20.0%

10.0%

0.0%

-10.0%

89.9%
														17.1%
2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023

2023 Debt Profile

Cash Balance

Debt with Fixed Maturities Working Capital Financing

Total Debt

Total Net Debt

Floating Rate

Fixed Rate

LT Debts - due after 1 year ST Debts - due within 1 year

	Dec-22		Dec-23
	$1,429
		$953
	$1,384		$1,333
	$1,715
		$601
	$3,099
		$1,934
	$1,670
		$981
	$1,885
61%	40%	$767
	$1,214
39%	60%	$1,167
	$1,198
39%	53%	$1,031
	$1,901
61%	47%	$903

Change

-33.3%

-3.7%-64.9%

-37.6%

-41.3%

-59.3%-3.8%

-13.9%-52.5%