Johnson Electric reports results for the half year ended 30 September 2023
- Written by The Bulletin
Highlights of FY23/24 Half-Year Results
- Group sales US$1,937 million – up 9% compared to first half of the prior financial year. Excluding the effects of foreign currency movements and acquisitions, sales increased by 10%
- Gross profit US$430 million or 22.2% of sales (compared to US$355 million or 20.0% of sales in the first half of the prior financial year)
- Adjusted EBITA US$180 million or 9.3% of sales (compared to US$111 million or 6.3% of sales in the first half of the prior financial year)
- Net profit attributable to shareholders up 115% to US$120 million or 12.99 US cents per share on a fully diluted basis
- Underlying net profit, excluding the net impact of unrealized gains or losses relating to exchange rate movements and restructuring costs, up 66% to US$130 million
- Free cash flow from operations US$208 million (compared to US$80 million in the first half of the prior financial year)
- Total debt to capital ratio of 13% and cash reserves of US$440 million as of 30 September 2023
- Interim dividend unchanged at 17 HK cents per share (2.18 US cents per share) with a scrip dividend alternative
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