JOHNSON ELEC H (00179) announces mid-year performance, with shareholders' net profit increasing by 8% year-on-year to USD 130 million. Dividends of 17 Hong Kong cents per share.

Johnson Electric (00179) announces its interim results for the six months ending on September 30, 2024, with revenue of USD 1.854 billion, a 4% year-on-year decrease. Shareholders' net profit increased by 8% to USD 130 million, with diluted earnings per share of 13.92 cents. Interim dividend per share is 17 Hong Kong cents. Gross margin increased from 22.2% to 23.6% mainly due to lower raw material costs and gains from foreign exchange hedging contracts. Operating free cash flow decreased from USD 208 million to USD 144 million due to an increase in working capital and slightly higher capital expenditures. Overall, Johnson Electric's financial position remains robust, with a total debt-to-capital ratio of 12% and cash balance of USD 688 million as of September 30, 2024.