Latest news with #JohnsonElectric
Cision Canada
2 days ago
- Automotive
- Cision Canada
WAIC 2025: Shanghai Electric Debuts First Industrial Humanoid Robot "SUYUAN," Advancing Next-Gen Intelligent Manufacturing through Holistic Value Chain Layout
SHANGHAI, July 29, 2025 /CNW/ -- Shanghai Electric (SEHK: 2727, SSE: 601727) proudly unveiled its first self-developed industrial humanoid robot, "SUYUAN," during its global debut at the World Artificial Intelligence Conference on July 26 in Shanghai. With 38 degrees of freedom (DoF) and 275 TOPS of on-device computation power, SUYUAN delivers precise operations and dynamic movements, making it adaptable to a wide range of industrial application scenarios. This launch represents a significant milestone in Shanghai Electric's humanoid robotics journey, further strengthening its comprehensive value chain for industrial humanoid solutions. Designed with human-like proportions—standing 167 cm tall and weighing 50 kg—SUYUAN is engineered to navigate complex industrial environments with ease. Its 38-DoF articulation provides exceptional dexterity, enabling both delicate manipulations and expansive motions. Capable of handling up to 10 kg of total cargo and lifting 2 kg objects with a single arm, SUYUAN is perfectly suited for logistics and assembly line tasks, operating efficiently at a movement speed of 5 km/h. SUYUAN leverages a fusion of LiDAR and binocular vision technologies to achieve self-guided mobility. Its 275-TOPS on-device AI processor powers instant data analysis and LLM integration, allowing natural task interpretation and adaptive object handling. In pilot tests, SUYUAN autonomously identified, positioned, picked, and relocated mixed-size crates, using advanced computer vision and synchronized joint control, significantly boosting warehouse productivity. Supercharging the Industrial Revolution: Intelligent Manufacturing Powered by Humanoid Precision The high-end equipment manufacturing advancements driven by innovation hinge on real-world applications. At WAIC 2025, Shanghai Electric's "LINGKE" dual-arm robot also wowed the audiences at a skills showcase, tackling complex manufacturing challenges with its high-precision operation, adaptive collaboration, and closed-loop data capabilities. LINGKE is more than a human labor replacement. It uses bimanual coordination and compliant force control to free workers from repetitive, high-intensity tasks, improving efficiency fivefold. The core competency lies in its Data-Model-Deployment closed-loop technology. With operational data as the starting point, LINGKE creates self-optimizing workflow through data cleansing and annotation, model training, live deployment, and feedback-based optimization, achieving the transition from "passive executors" to "active learners." Pioneering Smarter Automation At WAIC 2025, a joint venture between Shanghai Electric and Johnson Electric debuted with a showcase of revolutionary humanoid robots, key hardware modules, and system integration solutions. The venture introduced rotary joints, linear joints, and dexterous finger joints for next-gen robots, delivering precise, smooth, quiet, and intelligent motion performance. The joint venture further strengthened its efforts to expand product applications by securing two major partnerships: a first-unit supply agreement with the National and Local Co-Built Humanoid Robotics Innovation Center (Qinglong Project) and a product cooperation memorandum with Fourier Robotics. With 189 patent applications (including 120 granted) in humanoid robotics, Shanghai Electric is making significant strides in AI-driven industrial innovation. Going forward, Shanghai Electric will expand smart "human-machine" and "inter-machine" collaborative solutions across multifunctional industrial environments. Its comprehensive R&D capabilities—spanning critical components to fully functional robots—are accelerating the development of a world-class AI ecosystem.
Malay Mail
16-07-2025
- Automotive
- Malay Mail
Johnson Electric reports Business and Unaudited Financial Information for the First Quarter of Financial Year 25/26 and Formation of Joint Ventures in the PRC for Humanoid Robotics Business
Business and Unaudited Financial Information for the First Quarter of Financial Year 25/26 Three months ended 30 June 2025 Asia-Pacific 9% Decrease Europe, the Middle East and Africa 2% Increase Americas 4% Decrease Total 4% Decrease Three months ended 30 June 2025 Asia-Pacific 7% Decrease Europe, the Middle East and Africa 14% Increase Americas 5% Decrease Total 1% Increase HONG KONG SAR - Media OutReach Newswire – 16 July 2025 - This news release is made by Johnson Electric Holdings Limited ("Johnson Electric" or the "Company" and together with its subsidiaries, the "Group") for the business operations and selected unaudited financial information of the Group for the three months ended 30 June 2025 and the formation of joint ventures in the PRC for humanoid robotics Group's sales for the three months ended 30 June 2025 were US$915 million compared to US$935 million for the same period in the previous financial year, a decrease of 2%. Exchange rate movements had a favourable impact of US$9 million on the Group's sales during the sales for the three months ended 30 June 2025 were US$765 million, a decrease of US$23 million or 3% compared to the same period in financial year 24/25. Excluding currency effects, APG's sales decreased by US$30 million or 4%.The division's sales changes by region, excluding currency effects, were as follows:In Asia-Pacific, sales decreased by 9%. Sales of products for closure, thermal management, oil pump and steering applications decreased, partially offset by increased sales of products for braking applications. The decline in sales in the region was primarily driven by significantly reduced demand for non-domestic car brands in China, a category where APG has historically maintained an above-average market share, as well as price adjustments made in response to competitive market conditions. However, accelerating growth in sales to domestic car brands in China partially offset this Europe, the Middle East and Africa ("EMEA"), sales increased by 2%. Sales of products for braking, oil pump, steering, engine and fuel management applications increased, partially offset by decreased sales of products for closure and vision the Americas, sales decreased by 4%. Sales of products for braking, oil pump and engine and fuel management applications decreased due to the phasing out of some programs and weak demand from certain customers. This decline was partially offset by increased sales of powder metal sales for the three months ended 30 June 2025 were US$150 million, an increase of US$2 million or 2% compared to the same period in the previous financial year. Excluding currency effects, IPG's sales increased by US$1 million or 1%. The overall performance reflects a mixed regional picture, shaped by varying market and customer division's sales changes by region, excluding currency effects, were as follows:In Asia-Pacific, sales decreased by 7%, primarily due to both IPG as well as some of its customers experiencing keen price competition in certain product segments, where the focus of purchasing decisions has shifted towards low cost over product application features and bespoke design. The decline was further exacerbated by certain customers postponing planned program EMEA, sales increased by 14%, due to the combination of the ramp-up of existing programs and new product launches, as well as replenishment orders from certain customers after their consumption of previous inventory the Americas, sales decreased by 5% mainly due to weak demand from certain customers and some programs reaching end of life. This was partially offset by increase in sales of piezo motors, which benefited from robust demand for medical drug-dosing systems as well as high-precision equipment utilized in semiconductor on the first quarter's sales performance, Dr. Patrick Wang, Chairman and Chief Executive, said: "Johnson Electric's sales in the first quarter of the financial year compared to the same period in the prior year reflected the more subdued macroeconomic environment, as well as the impact of declines in the market share of non-domestic automotive OEM customers in China".Concerning the outlook for the remainder of the financial year 25/26, Dr. Wang said: "Until a clearer picture of the global tariff landscape emerges, we can expect customers to remain cautious in their purchasing and investment decisions. In the short term, this is likely to be a drag on sales, though we remain encouraged by our pipeline of new product launches and new business developments that should underpin growth in the second half of the financial year".The Company today announced that the Group entered into two equity joint venture agreements with Shanghai Mechanical & Electrical Industry Co., Ltd. ("SMEIC") in relation to the formation of two equity joint first joint venture will be incorporated in Shanghai which will primarily serve as a sales channel for products manufactured by the second joint venture, as well as support business development, research and development, application engineering, and customer service for humanoid robotic solutions in the People's Republic of China (''PRC''). The second joint venture will be incorporated in Shenzhen which will serve as the engineering design, research and development, and manufacturing base for humanoid robot hardware modules and hardware system integration solutions. Each of the Group and SMEIC will invest RMB75 million in the two joint is a leading PRC-based electromechanical equipment manufacturing company and is listed on the Shanghai Stock Exchange."The two joint ventures are structured to complement one another - combining sales, business development and customer application support with product design, engineering, and manufacturing expertise. Together, they will enable the end-to-end delivery of high-performance humanoid robotic core components and subsystems to customers across the PRC.", said, Austin Wang, Executive Vice President. "The formation of the joint ventures represents a significant milestone in the Group's long-term strategy to expand its presence in the robotics sector."This news release contains forward-looking statements regarding the financial condition, results of operations, and business plans of Johnson Electric and its Group, including the formation of joint ventures and the Group's outlook for the full year. These statements are based on current expectations, unaudited internal records, and management accounts, which have not been reviewed or audited by the Company's auditors and are subject to risks and statements can be identified by words such as "outlook", "expects", "anticipates", "intends", "plans", "believes", "estimates", "projects", and similar expressions. Such statements are subject to known and unknown risks and uncertainties, and actual results may differ materially from those expressed or implied in these and potential investors are advised to exercise caution when dealing or investing in the shares of the #JohnsonElectric The issuer is solely responsible for the content of this announcement. About Johnson Electric Group The Johnson Electric Group is a global leader in electric motors, actuators, motion subsystems and related electro-mechanical components. It serves a broad range of industries including Automotive, Smart Metering, Medical Devices, Business Equipment, Home Automation, Ventilation, White Goods, Power Tools, and Lawn & Garden Equipment. The Group is headquartered in Hong Kong and employs over 30,000 individuals across more than 20 countries worldwide. Johnson Electric Holdings Limited is listed on The Stock Exchange of Hong Kong Limited (Stock Code: 179). For further information, please visit:
The Sun
29-05-2025
- Automotive
- The Sun
Johnson Electric reports results for the year ended 31 March 2025
• Group sales US$3,648 million – down 4% compared to the prior year • Gross profit US$843 million or 23.1% of sales (compared to US$851 million or 22.3% of sales in the prior year) • Adjusted EBITA US$344 million or 9.4% of sales (compared to US$343 million or 9.0% of sales in the prior year) • Net profit attributable to shareholders totalled US$263 million – an increase of 15% compared to the prior year • Underlying net profit, adjusted to exclude non-cash foreign exchange rate movements and restructuring charges, totalled US$274 million – an increase of 9% • Free cash flow from operations totalled US$286 million compared to US$422 million in the prior year • A recommended final dividend of 44 HK cents per share (5.64 US cents) • As of 31 March 2025, cash reserves amounted to US$791 million and the ratio of total debt to capital was 12% HONG KONG SAR - Media OutReach Newswire - 28 May 2025 - Johnson Electric Holdings Limited ('Johnson Electric'), a global leader in electric motors and motion subsystems, today announced its results for the twelve months ended 31 March 2025. Group sales for the 2024/25 financial year were US$3,648 million, a decrease of 4% compared to the prior year. Net profit attributable to shareholders increased by 15% to US$263 million or 28.16 US cents per share on a fully diluted basis. Underlying net profit, adjusted to exclude non-cash foreign exchange rate movements and restructuring charges, increased by 9% to US$274 million. Sales Performance The Automotive Products Group ('APG'), Johnson Electric's largest operating division, achieved sales of US$3,072 million. Excluding currency effects, APG's sales decreased by 3%. Automotive production volumes in several major markets were below prior year levels due to the combination of subdued economic conditions, elevated new vehicle prices, high financing costs, and uneven consumer confidence. Supply-demand dynamics were further impacted by a temporary slowdown in the transition to electrification in some markets as governments rethink policy support, OEMs adjust the propulsion mix of their model line-ups, and consumers react to the comparatively high price of battery-electric vehicles. APG experienced lower sales in each of the three major geographic end markets, with differences in large part reflecting the variations in our share of content within particular OEM vehicle models and whether or not those models are proving popular with consumers. In Asia, for example, APG sales decreased by 1% on a constant currency basis compared to a 2% increase in the region's total light vehicle production volume. This was primarily due to the weaker sales performance of non-domestic car brands in China, among which APG has historically maintained an above average market share. In Europe, APG's sales declined by 4% on a constant currency basis compared to a 6% decline in regional vehicle production. And in the Americas, sales declined by 6% in comparison to a 2% decline in vehicle production volume. In both of these regions, a key factor driving APG's sales performance was end-market share changes between OEMs, which has become less predictable as the industry wrestles with several transformational forces including electric vehicle adoption rates, the growing success of Chinese OEMs as exporters, and moves by governments to impose protectionist tariffs on imports. APG's strategy to address these shifting automotive industry dynamics is two-fold. Firstly, it is to continue to bring to market innovative technologies that help enable electrification, reduce emissions, and enhance passenger safety and comfort. Secondly, APG aims to offer its customers a compelling total cost and value proposition that combines speed, scale and reliability of production with a responsive global operating footprint. This strategy is gaining traction. One indication of the strength of this model is APG's increasing success in winning new business from the largest Chinese OEM vehicle manufacturers which are expected to contribute a significant and growing share of the division's sales within the next five years. The Industry Products Group ('IPG') – contributing 16% of total Group sales – continued to experience challenging trading conditions. The division's sales were US$575 million which, excluding the effects of currency movements, represented a decline of 5% compared to the prior year. Global demand for many consumer and industrial products remains sluggish in the post-pandemic era and this has been compounded by an acceleration of the commoditization of numerous hardware goods. In response, management has taken decisive action to reduce overheads and refocus the division around a products group that emphasises standardization and cost leadership. In parallel, IPG is investing in designing differentiated and innovative motion system solutions in a select number of high growth application segments, including robotics, warehouse automation, medical devices, electric bikes, and high-precision manufacturing and measurement equipment. This dual-track approach is positioning IPG for improved competitiveness and long-term growth. Gross Margins and Operating Profitability The Group's gross profit amounted to US$843 million – a decrease of 1% compared to the prior year. As a percentage of sales, however, gross profit increased from 22.3% to 23.1%. The improvement of gross margin was primarily the result of lower raw material costs, direct labour, and production overhead charges that combined to more than offset the effects of reduced sales volumes. Reported earnings before interest, tax and amortization ('EBITA') amounted to US$331 million (compared to US$315 million in the prior year). EBITA adjusted to exclude non-cash foreign exchange rate movements and restructuring charges, amounted to US$344 million or 9.4% of sales (compared to 9.0% in the prior year). The Group's adjusted EBITA result was boosted by US$15 million in net gains from Other Income & Expenses. This was primarily due to a mark-to-market gain on an investment in an autonomous driving technology company, government grants, as well as net changes in the valuation of other financial and monetary assets and liabilities, and other foreign currency hedging contracts. Net Profit and Financial Condition Net profit attributable to shareholders increased by 15% to US$263 million or 28.16 US cents per share on a fully diluted basis. Underlying net profit, adjusted to exclude non-cash foreign exchange rate movements and restructuring charges, amounted to US$274 million compared to US$252 million in the prior year. The Group's overall financial condition remains robust with a total debt to capital ratio of 12%, an interest coverage ratio of 10 times, and year-end cash reserves of US$791 million. Dividends In view of the high level of uncertainty concerning the outlook for global trade at the present time, the Board considers it prudent to recommend maintaining the final dividend of 44 HK cents (5.64 US cents) per share, which together with the interim dividend of 17 HK cents per share, represents a total dividend of 61 HK cents (7.82 US cents) per share. Chairman's Comments on the Annual Results and Outlook Commenting on the annual results for the financial year 2024/25, Dr. Patrick Wang, Chairman and Chief Executive, said, 'In the financial year 2024/25, Johnson Electric experienced increasing headwinds in its major end markets that reflected the impact of a reduction in automobile production volumes, intense price competition in several consumer and industrial product applications, and weakening consumer confidence in the face of rising uncertainty about the outlook for the global economy, and cross-border trade in particular. Despite these challenging market conditions, the Group's financial results demonstrated the resilience of our business model'. Dr. Patrick Wang further commented: 'Although we do not expect a worst-case outcome involving the high and broad-based tariffs remaining in place for the longer-term, we have been building scenarios into our planning and operating model for many years – with the effect that being nimble and adaptable is central to Johnson Electric's way of doing business. Management is working proactively to mitigate the near-term impact of tariffs through pricing adjustments, as well as evaluating our longer-term options to relocate parts of production to different locations within, or beyond, our existing manufacturing footprint. The practical and economic attractiveness of those options will ultimately depend on what types of trade agreements may emerge from the ongoing trade dispute and negotiations'. 'Although the sudden imposition of import tariffs impacting multiple national borders is placing an additional burden on our people in terms of time and complexity, we are not allowing it to deflect our attention from executing the core elements of our strategy. Those elements include: i) driving sales growth by offering customers compelling total cost solutions to their most pressing motion-related problems; ii) accelerating our speed to market through rapid sampling, increased standardization of products and production lines, and building and maintaining appropriate levels of stock to provide the assurance and flexibility of supply that our customers demand; iii) building and consolidating production around large scale, lower cost regional manufacturing hubs that feature high levels of vertical integration and automation; and iv) leveraging advanced digital technologies, including AI, to reduce cost and improve efficiency and responsiveness'. Concerning the near-term financial outlook, Dr. Patrick Wang said: 'Group sales levels in the first weeks of the 25/26 financial year have been a mid-single digit percentage lower compared to a year ago. However, given the lack of clarity over exactly what tariffs may be in effect for the remainder of the year and how these may impact the varied and often complex profiles of our subsystem manufacturing and logistics supply chain, it is not meaningful to offer a full-year sales projection'. 'It is not simply a question of which of our products could be subject to elevated import tariffs (these presently amount to a mid-single digit percentage of total Group sales based on the US import tariffs in effect, or temporarily suspended). It is also the extent to which the confrontation over international trade undermines the prospects for global economic growth'. 'Nonetheless, I do feel that it is worthwhile observing that Johnson Electric has a sixty-six-year track record of navigating its way through periods of enormous macro-economic stress and volatility. While past performance is, of course, no guarantee of future success, I remain highly confident that this Company is as well positioned as any in our industry to find a profitable and sustainable path going forward'. 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.
Associated Press
28-05-2025
- Automotive
- Associated Press
Johnson Electric reports results for the year ended 31 March 2025
Highlights of FY24/25 Results HONG KONG SAR - Media OutReach Newswire - 28 May 2025 - Johnson Electric Holdings Limited ('Johnson Electric'), a global leader in electric motors and motion subsystems, today announced its results for the twelve months ended 31 March 2025. Group sales for the 2024/25 financial year were US$3,648 million, a decrease of 4% compared to the prior year. Net profit attributable to shareholders increased by 15% to US$263 million or 28.16 US cents per share on a fully diluted basis. Underlying net profit, adjusted to exclude non-cash foreign exchange rate movements and restructuring charges, increased by 9% to US$274 million. Sales Performance The Automotive Products Group ('APG'), Johnson Electric's largest operating division, achieved sales of US$3,072 million. Excluding currency effects, APG's sales decreased by 3%. Automotive production volumes in several major markets were below prior year levels due to the combination of subdued economic conditions, elevated new vehicle prices, high financing costs, and uneven consumer confidence. Supply-demand dynamics were further impacted by a temporary slowdown in the transition to electrification in some markets as governments rethink policy support, OEMs adjust the propulsion mix of their model line-ups, and consumers react to the comparatively high price of battery-electric vehicles. APG experienced lower sales in each of the three major geographic end markets, with differences in large part reflecting the variations in our share of content within particular OEM vehicle models and whether or not those models are proving popular with consumers. In Asia, for example, APG sales decreased by 1% on a constant currency basis compared to a 2% increase in the region's total light vehicle production volume. This was primarily due to the weaker sales performance of non-domestic car brands in China, among which APG has historically maintained an above average market share. In Europe, APG's sales declined by 4% on a constant currency basis compared to a 6% decline in regional vehicle production. And in the Americas, sales declined by 6% in comparison to a 2% decline in vehicle production volume. In both of these regions, a key factor driving APG's sales performance was end-market share changes between OEMs, which has become less predictable as the industry wrestles with several transformational forces including electric vehicle adoption rates, the growing success of Chinese OEMs as exporters, and moves by governments to impose protectionist tariffs on imports. APG's strategy to address these shifting automotive industry dynamics is two-fold. Firstly, it is to continue to bring to market innovative technologies that help enable electrification, reduce emissions, and enhance passenger safety and comfort. Secondly, APG aims to offer its customers a compelling total cost and value proposition that combines speed, scale and reliability of production with a responsive global operating footprint. This strategy is gaining traction. One indication of the strength of this model is APG's increasing success in winning new business from the largest Chinese OEM vehicle manufacturers which are expected to contribute a significant and growing share of the division's sales within the next five years. The Industry Products Group ('IPG') – contributing 16% of total Group sales – continued to experience challenging trading conditions. The division's sales were US$575 million which, excluding the effects of currency movements, represented a decline of 5% compared to the prior year. Global demand for many consumer and industrial products remains sluggish in the post-pandemic era and this has been compounded by an acceleration of the commoditization of numerous hardware goods. In response, management has taken decisive action to reduce overheads and refocus the division around a products group that emphasises standardization and cost leadership. In parallel, IPG is investing in designing differentiated and innovative motion system solutions in a select number of high growth application segments, including robotics, warehouse automation, medical devices, electric bikes, and high-precision manufacturing and measurement equipment. This dual-track approach is positioning IPG for improved competitiveness and long-term growth. Gross Margins and Operating Profitability The Group's gross profit amounted to US$843 million – a decrease of 1% compared to the prior year. As a percentage of sales, however, gross profit increased from 22.3% to 23.1%. The improvement of gross margin was primarily the result of lower raw material costs, direct labour, and production overhead charges that combined to more than offset the effects of reduced sales volumes. Reported earnings before interest, tax and amortization ('EBITA') amounted to US$331 million (compared to US$315 million in the prior year). EBITA adjusted to exclude non-cash foreign exchange rate movements and restructuring charges, amounted to US$344 million or 9.4% of sales (compared to 9.0% in the prior year). The Group's adjusted EBITA result was boosted by US$15 million in net gains from Other Income & Expenses. This was primarily due to a mark-to-market gain on an investment in an autonomous driving technology company, government grants, as well as net changes in the valuation of other financial and monetary assets and liabilities, and other foreign currency hedging contracts. Net Profit and Financial Condition Net profit attributable to shareholders increased by 15% to US$263 million or 28.16 US cents per share on a fully diluted basis. Underlying net profit, adjusted to exclude non-cash foreign exchange rate movements and restructuring charges, amounted to US$274 million compared to US$252 million in the prior year. The Group's overall financial condition remains robust with a total debt to capital ratio of 12%, an interest coverage ratio of 10 times, and year-end cash reserves of US$791 million. Dividends In view of the high level of uncertainty concerning the outlook for global trade at the present time, the Board considers it prudent to recommend maintaining the final dividend of 44 HK cents (5.64 US cents) per share, which together with the interim dividend of 17 HK cents per share, represents a total dividend of 61 HK cents (7.82 US cents) per share. Chairman's Comments on the Annual Results and Outlook Commenting on the annual results for the financial year 2024/25, Dr. Patrick Wang, Chairman and Chief Executive, said, 'In the financial year 2024/25, Johnson Electric experienced increasing headwinds in its major end markets that reflected the impact of a reduction in automobile production volumes, intense price competition in several consumer and industrial product applications, and weakening consumer confidence in the face of rising uncertainty about the outlook for the global economy, and cross-border trade in particular. Despite these challenging market conditions, the Group's financial results demonstrated the resilience of our business model'. Dr. Patrick Wang further commented: 'Although we do not expect a worst-case outcome involving the high and broad-based tariffs remaining in place for the longer-term, we have been building scenarios into our planning and operating model for many years – with the effect that being nimble and adaptable is central to Johnson Electric's way of doing business. Management is working proactively to mitigate the near-term impact of tariffs through pricing adjustments, as well as evaluating our longer-term options to relocate parts of production to different locations within, or beyond, our existing manufacturing footprint. The practical and economic attractiveness of those options will ultimately depend on what types of trade agreements may emerge from the ongoing trade dispute and negotiations'. 'Although the sudden imposition of import tariffs impacting multiple national borders is placing an additional burden on our people in terms of time and complexity, we are not allowing it to deflect our attention from executing the core elements of our strategy. Those elements include: i) driving sales growth by offering customers compelling total cost solutions to their most pressing motion-related problems; ii) accelerating our speed to market through rapid sampling, increased standardization of products and production lines, and building and maintaining appropriate levels of stock to provide the assurance and flexibility of supply that our customers demand; iii) building and consolidating production around large scale, lower cost regional manufacturing hubs that feature high levels of vertical integration and automation; and iv) leveraging advanced digital technologies, including AI, to reduce cost and improve efficiency and responsiveness'. Concerning the near-term financial outlook, Dr. Patrick Wang said: 'Group sales levels in the first weeks of the 25/26 financial year have been a mid-single digit percentage lower compared to a year ago. However, given the lack of clarity over exactly what tariffs may be in effect for the remainder of the year and how these may impact the varied and often complex profiles of our subsystem manufacturing and logistics supply chain, it is not meaningful to offer a full-year sales projection'. 'It is not simply a question of which of our products could be subject to elevated import tariffs (these presently amount to a mid-single digit percentage of total Group sales based on the US import tariffs in effect, or temporarily suspended). It is also the extent to which the confrontation over international trade undermines the prospects for global economic growth'. 'Nonetheless, I do feel that it is worthwhile observing that Johnson Electric has a sixty-six-year track record of navigating its way through periods of enormous macro-economic stress and volatility. While past performance is, of course, no guarantee of future success, I remain highly confident that this Company is as well positioned as any in our industry to find a profitable and sustainable path going forward'. 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. Hashtag: #JohnsonElectric The issuer is solely responsible for the content of this announcement. About Johnson Electric Group The Johnson Electric Group is a global leader in electric motors, actuators, motion subsystems and related electro-mechanical components. It serves a broad range of industries including Automotive, Smart Metering, Medical Devices, Business Equipment, Home Automation, Ventilation, White Goods, Power Tools, and Lawn & Garden Equipment. The Group is headquartered in Hong Kong and employs over 30,000 individuals across more than 20 countries worldwide. Johnson Electric Holdings Limited is listed on The Stock Exchange of Hong Kong Limited (Stock Code: 179). For further information, please visit:
Zawya
28-05-2025
- Automotive
- Zawya
Johnson Electric reports results for the year ended 31 March 2025
Highlights of FY24/25 Results Group sales US$3,648 million – down 4% compared to the prior year Gross profit US$843 million or 23.1% of sales (compared to US$851 million or 22.3% of sales in the prior year) Adjusted EBITA US$344 million or 9.4% of sales (compared to US$343 million or 9.0% of sales in the prior year) Net profit attributable to shareholders totalled US$263 million – an increase of 15% compared to the prior year Underlying net profit, adjusted to exclude non-cash foreign exchange rate movements and restructuring charges, totalled US$274 million – an increase of 9% Free cash flow from operations totalled US$286 million compared to US$422 million in the prior year A recommended final dividend of 44 HK cents per share (5.64 US cents) As of 31 March 2025, cash reserves amounted to US$791 million and the ratio of total debt to capital was 12% HONG KONG SAR - Media OutReach Newswire - 28 May 2025 - Johnson Electric Holdings Limited ("Johnson Electric"), a global leader in electric motors and motion subsystems, today announced its results for the twelve months ended 31 March 2025. Group sales for the 2024/25 financial year were US$3,648 million, a decrease of 4% compared to the prior year. Net profit attributable to shareholders increased by 15% to US$263 million or 28.16 US cents per share on a fully diluted basis. Underlying net profit, adjusted to exclude non-cash foreign exchange rate movements and restructuring charges, increased by 9% to US$274 million. Sales Performance The Automotive Products Group ("APG"), Johnson Electric's largest operating division, achieved sales of US$3,072 million. Excluding currency effects, APG's sales decreased by 3%. Automotive production volumes in several major markets were below prior year levels due to the combination of subdued economic conditions, elevated new vehicle prices, high financing costs, and uneven consumer confidence. Supply-demand dynamics were further impacted by a temporary slowdown in the transition to electrification in some markets as governments rethink policy support, OEMs adjust the propulsion mix of their model line-ups, and consumers react to the comparatively high price of battery-electric vehicles. APG experienced lower sales in each of the three major geographic end markets, with differences in large part reflecting the variations in our share of content within particular OEM vehicle models and whether or not those models are proving popular with consumers. In Asia, for example, APG sales decreased by 1% on a constant currency basis compared to a 2% increase in the region's total light vehicle production volume. This was primarily due to the weaker sales performance of non-domestic car brands in China, among which APG has historically maintained an above average market share. In Europe, APG's sales declined by 4% on a constant currency basis compared to a 6% decline in regional vehicle production. And in the Americas, sales declined by 6% in comparison to a 2% decline in vehicle production volume. In both of these regions, a key factor driving APG's sales performance was end-market share changes between OEMs, which has become less predictable as the industry wrestles with several transformational forces including electric vehicle adoption rates, the growing success of Chinese OEMs as exporters, and moves by governments to impose protectionist tariffs on imports. APG's strategy to address these shifting automotive industry dynamics is two-fold. Firstly, it is to continue to bring to market innovative technologies that help enable electrification, reduce emissions, and enhance passenger safety and comfort. Secondly, APG aims to offer its customers a compelling total cost and value proposition that combines speed, scale and reliability of production with a responsive global operating footprint. This strategy is gaining traction. One indication of the strength of this model is APG's increasing success in winning new business from the largest Chinese OEM vehicle manufacturers which are expected to contribute a significant and growing share of the division's sales within the next five years. The Industry Products Group ("IPG") – contributing 16% of total Group sales – continued to experience challenging trading conditions. The division's sales were US$575 million which, excluding the effects of currency movements, represented a decline of 5% compared to the prior year. Global demand for many consumer and industrial products remains sluggish in the post-pandemic era and this has been compounded by an acceleration of the commoditization of numerous hardware goods. In response, management has taken decisive action to reduce overheads and refocus the division around a products group that emphasises standardization and cost leadership. In parallel, IPG is investing in designing differentiated and innovative motion system solutions in a select number of high growth application segments, including robotics, warehouse automation, medical devices, electric bikes, and high-precision manufacturing and measurement equipment. This dual-track approach is positioning IPG for improved competitiveness and long-term growth. Gross Margins and Operating Profitability The Group's gross profit amounted to US$843 million – a decrease of 1% compared to the prior year. As a percentage of sales, however, gross profit increased from 22.3% to 23.1%. The improvement of gross margin was primarily the result of lower raw material costs, direct labour, and production overhead charges that combined to more than offset the effects of reduced sales volumes. Reported earnings before interest, tax and amortization ("EBITA") amounted to US$331 million (compared to US$315 million in the prior year). EBITA adjusted to exclude non-cash foreign exchange rate movements and restructuring charges, amounted to US$344 million or 9.4% of sales (compared to 9.0% in the prior year). The Group's adjusted EBITA result was boosted by US$15 million in net gains from Other Income & Expenses. This was primarily due to a mark-to-market gain on an investment in an autonomous driving technology company, government grants, as well as net changes in the valuation of other financial and monetary assets and liabilities, and other foreign currency hedging contracts. Net Profit and Financial Condition Net profit attributable to shareholders increased by 15% to US$263 million or 28.16 US cents per share on a fully diluted basis. Underlying net profit, adjusted to exclude non-cash foreign exchange rate movements and restructuring charges, amounted to US$274 million compared to US$252 million in the prior year. The Group's overall financial condition remains robust with a total debt to capital ratio of 12%, an interest coverage ratio of 10 times, and year-end cash reserves of US$791 million. Dividend s In view of the high level of uncertainty concerning the outlook for global trade at the present time, the Board considers it prudent to recommend maintaining the final dividend of 44 HK cents (5.64 US cents) per share, which together with the interim dividend of 17 HK cents per share, represents a total dividend of 61 HK cents (7.82 US cents) per share. Chairman's Comments on the Annual Results and Outlook Commenting on the annual results for the financial year 2024/25, Dr. Patrick Wang, Chairman and Chief Executive, said, "In the financial year 2024/25, Johnson Electric experienced increasing headwinds in its major end markets that reflected the impact of a reduction in automobile production volumes, intense price competition in several consumer and industrial product applications, and weakening consumer confidence in the face of rising uncertainty about the outlook for the global economy, and cross-border trade in particular. Despite these challenging market conditions, the Group's financial results demonstrated the resilience of our business model". Dr. Patrick Wang further commented: "Although we do not expect a worst-case outcome involving the high and broad-based tariffs remaining in place for the longer-term, we have been building scenarios into our planning and operating model for many years – with the effect that being nimble and adaptable is central to Johnson Electric's way of doing business. Management is working proactively to mitigate the near-term impact of tariffs through pricing adjustments, as well as evaluating our longer-term options to relocate parts of production to different locations within, or beyond, our existing manufacturing footprint. The practical and economic attractiveness of those options will ultimately depend on what types of trade agreements may emerge from the ongoing trade dispute and negotiations". "Although the sudden imposition of import tariffs impacting multiple national borders is placing an additional burden on our people in terms of time and complexity, we are not allowing it to deflect our attention from executing the core elements of our strategy. Those elements include: i) driving sales growth by offering customers compelling total cost solutions to their most pressing motion-related problems; ii) accelerating our speed to market through rapid sampling, increased standardization of products and production lines, and building and maintaining appropriate levels of stock to provide the assurance and flexibility of supply that our customers demand; iii) building and consolidating production around large scale, lower cost regional manufacturing hubs that feature high levels of vertical integration and automation; and iv) leveraging advanced digital technologies, including AI, to reduce cost and improve efficiency and responsiveness". Concerning the near-term financial outlook, Dr. Patrick Wang said: "Group sales levels in the first weeks of the 25/26 financial year have been a mid-single digit percentage lower compared to a year ago. However, given the lack of clarity over exactly what tariffs may be in effect for the remainder of the year and how these may impact the varied and often complex profiles of our subsystem manufacturing and logistics supply chain, it is not meaningful to offer a full-year sales projection". "It is not simply a question of which of our products could be subject to elevated import tariffs (these presently amount to a mid-single digit percentage of total Group sales based on the US import tariffs in effect, or temporarily suspended). It is also the extent to which the confrontation over international trade undermines the prospects for global economic growth". "Nonetheless, I do feel that it is worthwhile observing that Johnson Electric has a sixty-six-year track record of navigating its way through periods of enormous macro-economic stress and volatility. While past performance is, of course, no guarantee of future success, I remain highly confident that this Company is as well positioned as any in our industry to find a profitable and sustainable path going forward". 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. Hashtag: #JohnsonElectric The issuer is solely responsible for the content of this announcement. About Johnson Electric Group The Johnson Electric Group is a global leader in electric motors, actuators, motion subsystems and related electro-mechanical components. It serves a broad range of industries including Automotive, Smart Metering, Medical Devices, Business Equipment, Home Automation, Ventilation, White Goods, Power Tools, and Lawn & Garden Equipment. The Group is headquartered in Hong Kong and employs over 30,000 individuals across more than 20 countries worldwide. Johnson Electric Holdings Limited is listed on The Stock Exchange of Hong Kong Limited (Stock Code: 179). For further information, please visit: Johnson Electric
