Techtronic Industries Co., Ltd. · HKEX:669
Techtronic Industries — H1 2021 Earnings Presentation
64 slides from Techtronic Industries's earnings presentation, Aug 12, 2021
Slide 1: 2021 1H Interim Results Presentation
2021 1H Interim Results Presentation August 12th, 2021
Slide 2: Frank Chan
Frank Chan
Slide 3: 2021 1st Half Results
2021 1st Half Results 2020 2021 Change Sales $4,206 $6,394 +52.0% Gross Profit $1,597 $2,465 +54.3% Gross Margin % 38.0% 38.6% +58 bps EBIT $363 $572 +57.4% % of sales 8.6% 8.9% Net Profit $332 $524 +57.9% % of sales 7.9% 8.2% EPS (cents) 18.14₵ 28.62₵ +57.8% Interim Dividend (cents) 6.82₵ 10.94₵ +6
Slide 4: Sales, EBIT & Net Profit 1st Half Year Performance Trend
Sales, EBIT & Net Profit 1st Half 12 Year Performance Trend 13 Sales +13% CAGR 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 EBIT +20% CAGR 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Net Profit +26% CAGR 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Slide 5: 2021 1st Half Segment Results
2021 1st Half Segment Results Segment 2020 2021 Change Sales $3,748 $5,820 +55.3% Power Segment % 89.1% 91.0% Equipment Op Profit $359 $565 +57.1% % of sales 9.6% 9.7% Sales $458 $574 +25.3% Segment % 10.9% 9.0% Floorcare & Cleaning Op Profit $3.6 $6.8 +90.4% % of sales 0.8% 1.2%
Slide 6: 2021 1st Half Region Sales
2021 1st Half Region Sales Region 2020 2021 Change North America $3,252 $4,886 +50.2% Region % 77.3% 76.4% Europe $628 $1,019 +62.3% Region % 14.9% 15.9% Rest of World $326 $489 +50.0% Region % 7.8% 7.7%
Slide 7: 2021 1st Half Income Statement
2021 1st Half Income Statement 2020 2021 Change Sales $4,206 $6,394 +52.0% Gross Profit $1,597 $2,465 +54.3% % of sales 38.0% 38.6% Selling, Distribution, & Advertising $671 $1,031 +53.7% Administrative Expenses $448 $673 +50.3% Research & Development $121 $196 +62.2% Total SG&A Expenses $1,240 $1,9
Slide 8: 2021 1st Half Financial Position
2021 1st Half Financial Position 2020 2021 Change Non-current Assets $2,769 $3,293 +18.9% Current Assets $5,927 $8,975 +51.4% Current Liabilities $3,807 $6,621 +73.9% Net Current Assets $2,120 $2,354 +11.0% Long-term Liabilities $1,302 $1,381 +6.1% Equity $3,587 $4,266 +18.9%
Slide 9: 2021 1st Half Gearing Trend
2021 18 Half Gearing Trend 100.0% EEEYS 90.0% + 80.0% + 70.0% + 60.0% + 50.0% + 40.0% + 30.0% + 20.0% + 10.0% + 0.0% 40.0% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Slide 10: 2021 1st Half Financial Figures
2021 1st Half Financial Figures 2020 2021 Change Inventory $2,327 $4,471 Days 102 136 +34 days Receivables $1,500 $1,837 Days 65 56 -9 days Payables $2,501 $4,108 Days 109 125 +16 days Net Working Capital $1,326 $2,200 % of Sales 15.8% 18.3% Cash Balance $1,715 $2,270 +32.4% CAPEX $117 $245 +109.0%
Slide 11: 2021 1st Half Debt Profile
2021 1st Half Debt Profile 2020 2021 Change Cash Balance $1,715 $2,270 +32.4% Debt with Fixed Maturities $1,063 $1,058 -0.5% Working Capital Financing $796 $1,842 +131.4% Total Debt $1,859 $2,900 +56.0% Total Net Debt $144 $629 +337.1% Floating Rate 69% $1,283 75% $2,162 +68.5% Fixed Rate 31% $576 2
Slide 12: Joe Galli
Joe Galli
Slide 13: The best way to predict the future is to create it
“The best way to predict the future is to create it.” -Abraham Lincoln
Slide 14: We must dare to be great
“We must dare to be great.” -Theodore Roosevelt
Slide 15: 2021 1st Half Sales Growth
2021 1st Half Sales Growth 2020 2021 Change Sales $4,206 $6,394 +52.0% $ Chg +$2,188
Slide 16: 2021 1st Half Sales Growth vs 2020
2021 1st Half Sales Growth vs 2020 +52% +64%
Slide 17: 2021 1st Half Sales Growth vs 2019
2021 1st Half Sales Growth vs 2019 +71% +84%
Slide 18: 2021 vs 2019 1st Half Region Sales
2021 vs 2019 1st Half Region Sales Region 2019 2021 Change North America $2,845 $4,886 +71.7% Region % 76.3% 76.4% Europe $595 $1,019 +71.1% Region % 16.0% 15.9% Rest of World $288 $489 +69.9% Region % 7.7% 7.7%
Slide 19: 2021 1st Half Sales by Segment
2021 1st Half Sales Power Equipment Floorcare 91% 9% +55.3% +25.3%
Slide 20: 2021 1st Half Results
2021 1st Half Results 2020 2021 Change Sales $4,206 $6,394 +52.0% Gross Margin % 38.0% 38.6% +58 bps SGA % 29.5% 29.7% +25 bps EBIT $363 $572 +57.4% % of sales 8.6% 8.9% Net Profit $332 $524 +57.9% % of sales 7.9% 8.2%
Slide 21: 2021 1st Half Gross Margin
2021 1st Half Gross Margin 2020 2021 38.6% 38.0%
Slide 22: 1st Half Gross Margin Trend
1st Half Gross Margin Trend 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 38.6% 38.0% 37.6% 37.1% 36.6% 36.1% 35.6% 35.0% 34.0% 33.5% 32.9% 32.6% 31.7% 31.5%
Slide 23: 2021 1st Half SG&A Strategic Investment
2021 1st Half SG&A Strategic Investment SG&A R&D Non Product Management Strategic -8 bps End User Conversion Marketing +25 Strategic bps Sales Coverage +33 bps In Store Reps Geographic Expansion LDP
Slide 24: 2021 1st Half Working Capital
2021 1st Half Working Capital 2020 2021 Change Inventory $2,327 $4,471 Days 102 136 +34 days Receivables $1,500 $1,837 Days 65 56 -9 days Payables $2,501 $4,108 Days 109 125 +16 days WC % of Sales +15.8% +18.3%
Slide 25: ESG
ESG Environmental Social Governance
Slide 26: 1st Half 2021 Sales
18st Half 2021 Sales Mg +64.1% =
Slide 27: 1st Half 2021 Sales by Region
1st Half 2021 Sales +59.8% North +90.2% +90.2% North Europe Europe America America +58.0% +58.0% ROW ROW
Slide 28: 14" Abrasive Chop Saw
14” ABRASIVE CHOP SAW
Slide 29: Transition to Cordless Nailers
TRANSITION TO CORDLESS NAILERS
Slide 30: Nailers
NAILERS
Slide 31: Outdoor Power Equipment
UU TLDOUNSEOVY! as pieee sy -
Slide 32: Slide 32
Slide 33: Compact Spot Blower
COMPACT SPOT BLOWER
Slide 34: Underbody Light
a. | \ SS. : in | MUNDERBODY LIGHT ,, e 4 “ony SS,
Slide 35: Slide 35
Slide 36: Backpack Concrete Vibrator
BACKPACK CONCRETE VIBRATOR
Slide 37: Slide 37
Slide 38: Power Tool Accessories
POWER TOOL ACCESSORIES
Slide 39: Mechanics Hand Tools
.. MECHANICS HAND TOOLS” |
Slide 40: Rolling Tool Chest
ROLLING TOOL CHEST
Slide 41: Deep Organizer
SEEP. ORGANIZER yen ayn”
Slide 42: Slide 42
Slide 43: Hard Hats
HARD HATS
Slide 44: Personal Protective Equipment
PERSONAL PROTECTIVE EQUIPMENT
Slide 45: Nation
NATION
Slide 46: 1/4" Extended Reach Ratchet
1/4” EXTENDED REACH RATCHET
Slide 47: 1/2" High Torque Impact Wrench
1/2” HIGH TORQUE IMPACT WRENCH
Slide 48: Compact 1/4" Right Angle Die Grinder
COMPACT 1/4” RIGHT ANGLE DIE GRINDER
Slide 49: Automotive Series
AUTOMOTIVE SERIES
Slide 50: Cordless Nailers
CORDLESS NAILERS
Slide 51: Slide 51
Slide 52: Global Battery-Powered Cordless Outdoor
GLOBAL BATTERY-POWERED CORDLESS OUTDOOR +57.8%
Slide 53: Growing Momentum to Eliminate Gas
Growing Momentum to Eliminate Gas
Slide 54: Slide 54
Slide 55: Series
SERIES. lm =
Slide 56: Battery-Powered Lawn Mowers
BATTERY-POWERED LAWN MOWERS
Slide 57: 2-Stage 24" Snow Blower
2-STAGE 24” SNOW BLOWER
Slide 58: Battery-Powered Snow Blowers
BATTERY-POWERED SNOW BLOWERS
Slide 59: Power Cleaner
POWER CLEANER
Slide 60: New Products
73 NEW PRODUCTS
Slide 61: 2021 1st Half Floorcare Results
2021 1st Half Floorcare Results 2020 2021 Change Sales $458 $574 +25.3% EBIT $3.6 $6.8 +90.4%
Slide 62: Carpet Washing & Formulas
CARPET WASHING & FORMULAS
Slide 63: Slide 63
Slide 64: The Future is Bright
Tri The Future is Bright
Techtronic Industries Company — H1 2021 Earnings Presentation on 6ix