Johnson Electric Holdings Limited (179) reported interim results for the six months ended 30 September 2025, showing group sales of US$1,833 million, slightly down by 1% compared to the same period in the prior financial year. Excluding currency fluctuations, sales fell 2%. Gross profit stood at US$441 million or 24.0% of sales, marking an improvement from 23.6% a year earlier.
Net profit attributable to shareholders reached US$133 million, representing a 3% increase year-on-year, while underlying net profit, excluding impacts from unrealized exchange rate movements and restructuring costs, declined by 8% to US$123 million. Adjusted EBITA was US$159 million, equivalent to 8.7% of sales, compared to 9.5% in the previous period.
The Automotive Products Group segment, which contributed 84% of total sales, saw a 3% drop on a constant-currency basis. Consumer and industrial offerings under the Industry Products Group recorded flat sales compared to the same period last year on a constant-currency basis. By region of destination, sales in Europe, the Middle East, and Africa totaled US$594 million, while North America recorded US$582 million, and the People's Republic of China US$403 million.
Free cash flow from operations rose to US$174 million from US$144 million in the prior year’s period. As of 30 September 2025, the company held US$932 million in cash reserves and maintained a total debt-to-capital ratio of 11%. Capital expenditures remained elevated, reflecting ongoing investments in automation and expanded production capabilities.
The Board has declared an interim dividend of 17 HK cents per share, equivalent to 2.18 US cents, payable on 6 January 2026. Looking ahead, management expressed cautious optimism, anticipating modest sales growth in the second half of the financial year despite global economic uncertainties and evolving trade policies.
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