Johnson Electric Holdings (00179) announced that for the nine months ended December 31, 2025, the Group's turnover was $2.726 billion, a decrease of approximately $4 million compared to $2.73 billion in the same period of the previous financial year. During the period, the Group's turnover benefited from foreign exchange rate movements, which contributed an increase of $40 million.
For the nine months ended December 31, 2025, turnover for the Automotive Products Group was $2.301 billion, a decrease of $14 million or 1% compared to the same period in the 24/25 financial year. Excluding the impact of foreign exchange, the Automotive Products Group's turnover declined by $49 million or 2%. In the Asia Pacific region, turnover decreased by 6%, primarily due to price adjustments implemented to maintain competitiveness and weak demand for non-domestic automotive brands in the Chinese market, a region that has historically been a strong market for the Automotive Products Group. This impact was partially offset by sales growth from domestic automotive brands. Turnover decreased for applications in thermal management, steering and closure systems, and oil pumps; however, sales growth for brake systems, vision systems, and drivetrain applications partially offset the decline. In Europe, the Middle East, and Africa, turnover fell by 1%. Decreased sales for closure systems, vision systems, and thermal management applications were offset by growth in oil pumps, powder metal components, and other drivetrain applications. In the Americas, turnover increased by 1%. Sales growth for powder metal components, oil pumps, and thermal management applications was largely offset by declining turnover for applications such as brake systems, engines, and fuel management systems, due to the phase-out of certain product programs.
For the nine months ended December 31, 2025, turnover for the Industrial & Commercial Products Group was $425 million, an increase of $10 million or 2% compared to the same period last financial year. Excluding foreign exchange effects, the Industrial & Commercial Products Group's turnover rose by $5 million or 1%. The overall performance reflected significant regional variations, influenced by changing market and customer dynamics. In the Asia Pacific region, turnover decreased by 1%, mainly due to intense price competition faced by the Industrial & Commercial Products Group and some of its customers across several product segments. Consequently, turnover declined for applications in food & beverage, floorcare, and printers. This impact was significantly offset by sales growth in gardening and lawn equipment, medical applications, and data center cooling. In Europe, the Middle East, and Africa, turnover increased by 6%, driven by a combination of factors including replenishment orders from some customers after they had consumed previous excess inventory, and the launch of new products. This led to sales growth in gardening and lawn equipment products, heating applications, and flexible printed circuits. However, a decline in sales for beverage applications offset part of this turnover growth. In the Americas, turnover decreased by 2%, primarily due to reduced demand from certain customers and some projects reaching the end of their life cycles. This resulted in lower sales for ventilation and surgical applications. The decline was partially offset by growth in sales of piezo motor and ultrasonic motor subsystems, benefiting from strong demand from high-precision production equipment in semiconductor fabrication plants and medical drug dispensing systems.
Commenting on the Group's sales performance and short-term outlook, Chairman and Chief Executive Officer Dr. Patrick Shui-Chung Wang stated, "Johnson Electric's turnover has remained stable so far in this financial year, reflecting the generally weak macroeconomic environment and the high degree of uncertainty related to geopolitics and US trade policy. Based on current trading conditions and customer orders, full-year Group turnover is expected to be broadly similar to last year. In this environment, Johnson Electric continues to focus on executing its strategy to create long-term value through innovation, operational excellence, and a resilient global supply chain."
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