FREMONT, Calif., March 4, 2025 /PRNewswire/ — Exclusive Networks (Euronext Paris: EXN), a global leader in cybersecurity, has appointed Andrew Warren as Vice President of Sales & Marketing for North America.
A seasoned sales executive with extensive experience in global channels, alliances, cybersecurity, and distribution, Warren brings a proven track record of driving revenue growth and building high-performing channel sales organizations. His expertise is in developing partner and vendor relationships in the North America Channel and has successfully accelerated business expansion and customer engagement.
“I am excited to join Exclusive Networks North America at such a pivotal time,” said Warren. “Cybersecurity continues to be at the forefront of business priorities, and I look forward to working with our partners to deliver cutting-edge solutions that drive success. My focus will be on strengthening our partner ecosystem, expanding our market reach, and ensuring our customers have access to the most advanced cybersecurity technologies and services available. By leveraging Exclusive Networks’ global expertise and innovative approach, we aim to drive sustainable growth and help businesses stay ahead of evolving security challenges.”
Warren has held leadership roles across some of the industry’s most recognized companies. Most recently, he served as Vice President and General Manager for Northern North America at Baramundi Software. Prior to that, he held multiple leadership roles at software companies OpenText and FireMon, as well as at technology distributors including Westcon-Comstor and Avnet.
Beyond his leadership in the cybersecurity and technology sectors, Warren is passionate about fostering strong business relationships and enabling partners to thrive in an increasingly complex security landscape. He holds a Bachelor of Science in Business Administration with a focus on Marketing from Colorado State University.
“We are thrilled to welcome Andrew to the Exclusive Networks team,” said Jason Beal, President of Exclusive Networks, Americas. “His leadership, expertise, and passion for driving success will be instrumental in elevating our sales organization and strengthening our relationships with partners and customers.”
About Exclusive Networks
Exclusive Networks (EXN) is a global cybersecurity specialist that provides partners and end-customers with a wide range of services and product portfolios via proven routes to market. With offices in over 45 countries and the ability to serve customers in over 170 countries, we combine a local perspective with the scale and delivery of a single global organization.
Our best-in-class vendor portfolio is carefully curated with all leading industry players. Our services range from managed security to specialist technical accreditation and training and capitalize on rapidly evolving technologies and changing business models. For more information visit: https://www.exclusive-networks.com/usa/.
BARCELONA, Spain, March 4, 2025 /PRNewswire/ — Fibocom (Stock code:300638), a global leading provider of AIoT solutions and wireless communication modules, announced the launch of its new 5G modules and solutions based on Qualcomm Technologies, Inc.s latest Qualcomm® X85/X82 5G Modem-RF. These new solutions are set to help industry customers seamlessly transition to next-generation Fixed Wireless Access (FWA) technologies and rapidly accelerate the commercialization of new platforms.
The latest Qualcomm X85/X82 5G Modem-RF delivers significant performance upgrades over the previous X75/X72 generation, including:
Enhanced NR Sub-6GHz downlink carrier aggregation (CA), upgraded from 5CA to 6CA, with carrier bands exceeding 400 MHz.
Support for Intra-band ULCA (uplink carrier aggregation) TDD, boosting uplink data rates and optimizing network efficiency.
Advanced software capabilities, supporting OpenWRT version 24.x, with compatibility for RDK-B and prplOS.
Major AI advancements, including Modem AI functionality and support for external AI NPUs (Neural Processing Units).
Powered by a quad-core processor, new software suite, and several industry-leading innovations, Fibocom’s 5G modules deliver remarkable capabilities in network coverage, latency, energy efficiency, and mobility. Harnessing advanced AI capabilities, these modules drive 5G FWA solutions to an unprecedented level of intelligence.
These 5G modules support six-carrier aggregation in the NR Sub-6GHz downlink, offering bandwidth exceeding 300 MHz for faster transmission speeds and broader signal coverage. In addition, Intra-Band uplink carrier aggregation ensures faster data rates, optimizing overall network performance and addressing bandwidth-intensive applications like video conferencing, online gaming, and virtual collaboration.
In addition to hardware upgrades, the Qualcomm X85 Modem-RF introduces software innovations. The modules will support OpenWRT 24.x, a popular open-source router operating system known for robust features and scalability. Support for RDK-B and prplOS provides users with the flexibility to select the platform that best suits their needs.
The Qualcomm® 5G AI Suite and Qualcomm® Networking AI Suite combine to deliver QoS management and intelligently prioritized network traffic. These powerful AI Suite capabilities automatically identify high-priority tasks—such as streaming HD video or online gaming—and allocate necessary bandwidth, significantly enhancing the user experience.
“We are thrilled to collaborate with Fibocom on the launch of their new 5G modules and solutions, powered by our latest Qualcomm X85/X82 5G Modem-RF. Together, we are proud to set new benchmarks with solutions offering exceptional network coverage, low latency, energy efficiency, and enhanced mobility, ultimately paving the way for a more connected and efficient future,” said Gautam Sheoran, VP & GM, Wireless Broadband & Communications, Qualcomm Technologies, Inc.
“We are excited to continue our collaboration with Qualcomm Technologies on the Qualcomm X85/X82 5G Modem-RF to launch more intelligent FWA solutions that empower home broadband, enterprise networking, and industrial IoT applications.” added by Simon Tao, VP of MBB Product Management Dept., Head of MBB BU at Fibocom, “Fibocom is committed to driving the adoption of 5G technology and AI applications. We believe this partnership with Qualcomm Technologies will accelerate the intelligent evolution of the FWA market, providing smarter and more efficient connectivity services to users worldwide.”
Qualcomm branded products are products of Qualcomm Technologies, Inc. and/or its subsidiaries. Qualcomm is a trademark or registered trademark of Qualcomm Incorporated.
— Huawei Launches AI-Powered R-A-A-S Framework to Accelerate Financial Institutions’ Comprehensive Digital and Intelligent Transformation in AI Era
BARCELONA, Spain, March 4, 2025 /PRNewswire/ — At MWC Barcelona 2025, Huawei unveiled its value proposition ‘Beyond Digital, Resilience Empowers AI-Infused Finance’ and launched an AI-powered R-A-A-S (Reliability, Availability, Autonomy, and Security) framework. Using Huawei’s ICT products, solutions, and services, this framework aims to help financial institutions build extremely resilient infrastructure and accelerate their comprehensive digital and intelligent transformation in the AI era.
Financial Industry’s Leap into the AI Era
Jason Cao, CEO of Huawei Digital Finance BU, elaborated in his opening speech at Huawei’s finance forum, “AI development is unstoppable, and financial innovation never ends. The global financial industry has transitioned from Doing Digital to Doing AI. AI is being integrated into core financial workflows, profoundly transforming front, middle, and back offices and architectures. However, AI also poses unprecedented challenges to financial infrastructure. Without adequate resilience, we cannot transition from digital to intelligent. We must seize AI opportunities for business innovation while enhancing infrastructure construction to ensure resilience in the AI era.”
Jason Cao, CEO of Huawei Digital Finance BU, delivers an opening speech
In his keynote speech at the forum, Alvin Feng, Director of Global Marketing and Solution Sales, Huawei Digital Finance BU, noted, “AI’s rapid advancement creates both opportunities and challenges, which will require higher infrastructure standards. Based on the 4 Zeros (Zero Downtime, Zero Wait, Zero Trust, Zero Touch) goals announced at MWC 2024, Huawei is releasing the AI-powered R-A-A-S framework. This will form an extremely resilient digital foundation for finance with the four features of Reliability, Availability, Autonomy, and Security.”
1. Reliability ensures zero data loss through multi-copy storage, real-time synchronization, and cross-domain coordination of storage, computing, and network.
2. Availability minimizes service interruptions with cell-based databases, microservice clusters, and multi-center multi-active cloud services, ensuring 99.999% system availability.
3. Autonomy achieves zero human errors, 1-minute fault identification, 5-minute fault location, and 10-minute fault rectification. In increasingly complex IT environments, our digital twin and AI technologies enable intelligent simulation, observation, location, and rectification, forming an AIOps system across multiple vendors and domains including cloud, network, and security.
4. Security enables an in-depth defense system powered by AI, through terminal-edge-cloud collaboration, cloud-storage-network collaboration, and unified security policy management. This system can rapidly identify and block cyber attacks within seconds to ensure data security.
Huawei provides AI-powered R-A-A-S framework design services, as well as full-stack product solutions including computing, storage, network, and cloud, to help our financial customers build extremely resilient infrastructure in the AI era.
Alvin Feng, Director of Global Marketing and Solution Sales, Huawei Digital Finance BU
To date, Huawei has served 53 of the world’s top 100 banks, covering over 3700 financial customers in more than 80 countries and regions.
For more Huawei intelligent finance solutions, please visit:
Pioneering AI-Powered Cleaning Technology Deployment Marks Strategic Expansion into Hong Kong Market
SINGAPORE – Media OutReach Newswire – 4 March 2025 – Primech AI Pte. Ltd. (“Primech AI”) or (the “Company”), a subsidiary of Primech Holdings Limited (Nasdaq: PMEC), is proud to announce the launch of its innovative Robotics as a Service (RaaS) business line, revolutionizing the cleaning solutions industry. This strategic initiative addresses critical industry challenges including labor shortages, hygiene standards, and operational costs through proprietary AI-driven technology.
Figure 1: Nina Tower 1 in Hong Kong, where Primech AI’s HYTRON will be deployed.
As part of this global expansion strategy, Primech AI has signed a Memorandum of Understanding (MoU) with CCG Property Services, a subsidiary of Hong Kong’s leading property developer Chinachem Group, to deploy HYTRON, an AI-powered fully automated toilet cleaning robot, in selected facilities managed by CCG Property Services in Hong Kong.
The deployment of HYTRON marks the initial phase of Primech AI’s bold initiative to roll out 300 cleaning robots across Singapore, Hong Kong, and Dubai. This expansion reinforces the company’s position as a technology leader in autonomous cleaning solutions for facility services and sanitation.
“This collaboration marks a significant milestone in our global expansion of our Robotics as a Service solution,” said Charles Ng, Chief Operating Officer of Primech AI. “While our cleaning services continue to serve the Singapore market, we are extending the Raas business model making it accessible internationally, beginning with this strategic partnership in Hong Kong’s premier property portfolio.”
Under the two-year MoU, Primech AI will supply and install HYTRON robots in designated facilities, including the iconic Nina Tower 1, with comprehensive maintenance, technical support, and staff training. CCG Property Services will integrate the robots into daily operations, showcasing HYTRON’s capabilities in elevating cleanliness standards and operational efficiency.
Primech AI envisions a long-term expansion of HYTRON into additional global markets, including Australia, Europe, and the United States, bringing cutting-edge cleaning solutions to more regions worldwide. Beyond this initial deployment, the company also plans to extend its Robotics-as-a-Service (RaaS) offering to these markets, further enhancing accessibility of its advanced cleaning technology on a global scale.
“Beyond advancing automation in the traditional cleaning industry, this deployment marks a significant milestone for Primech Holdings Limited. It demonstrates our ability to expand internationally and provide cutting-edge cleaning solutions across borders. By working with esteemed partners like Chinachem Group and CCG Property Services, we are proving that our technology is not only effective but also scalable on a global level. This is just the beginning of our vision to redefine commercial cleaning through AI and robotics.” said Kin Wai Ho, CEO of Primech Holdings Limited. This initiative underscores Primech Holdings’ commitment to transforming the cleaning industry through advanced technology while expanding its global footprint beyond its traditional Singapore base.
Primech AI’s self-developed HYTRON bathroom cleaning robot is integrated with advanced NVIDIA technology. The latest HYTRON model incorporated the NVIDIA Jetson Orin Nano Super, a state-of-the-art System-on-Module (SoM) designed for robust edge AI and robotics applications. The HYTRON robot also uses a suite of NVIDIA software, including CUDA, CuDNN, TensorRT, and NVIDIA Driver, to optimize its AI capabilities. This combination of hardware and software allows HYTRON to deliver superior processing speed, efficiency, and reliability in its cleaning tasks.
The issuer is solely responsible for the content of this announcement.
About Chinachem Group
Founded in 1960, Chinachem Group is a private real estate company in Hong Kong, with a portfolio covering residential, commercial, retail and industrial buildings for sales and investment, in addition to operating hotels and property management services as well as elderly services.
Dedicated to making better places to live, work and raise future generations in Hong Kong and beyond, the Group seeks to deliver lasting commercial, social and environmental benefits.
Headquartered in Singapore, Primech Holdings Limited is a leading provider of comprehensive technology-driven facilities services, predominantly serving both public and private sectors throughout Singapore. Primech Holdings offers an extensive range of services tailored to meet the complex demands of its diverse clientele. Services include advanced general facility maintenance services, specialized cleaning solutions such as marble polishing and facade cleaning, meticulous stewarding services, and targeted cleaning services for offices and homes. Known for its commitment to sustainability and cutting-edge technology, Primech Holdings integrates eco-friendly practices and smart technology solutions to enhance operational efficiency and client satisfaction. This strategic approach positions Primech Holdings as a leader in the industry and a proactive contributor to advancing industry standards and practices in Singapore and beyond. For more information, visit www.primechholdings.com.
About Primech AI
Primech AI is a leading robotics company dedicated to pushing the boundaries of innovation in technology. With a team of passionate individuals and a commitment to collaboration, Primech AI is poised to revolutionize the robotics industry with groundbreaking solutions that make a meaningful impact on society. For more information, visit www.primech.ai.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements, including, for example, statements about completing the acquisition, anticipated revenues, growth, and expansion. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. These forward-looking statements are also based on assumptions regarding the Company’s present and future business strategies and the environment in which the Company will operate in the future. Investors can find many (but not all) of these statements by the use of words such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “likely to” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure that such expectations will be correct. The Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.
DUBAI, UAE, March 4, 2025 /PRNewswire/ — Binance, the global blockchain ecosystem behind the largest crypto exchange by trading volume, announced the launch of the first episode of its docuseries, ‘Building the Future: Inside Binance Blockchain Week’ on its official YouTube channel. This docuseries offers an unfiltered, behind-the-scenes glimpse into one of the most significant crypto events of last year: Binance Blockchain Week 2024.
Building the Future: Exclusive Behind-the-Scenes Look at Binance Blockchain Week 2024 – A Global Gathering of Industry Leaders, Innovators, and Crypto Enthusiasts in Dubai. Watch the Full Docuseries on Binance’s YouTube Channel.
Set against the vibrant city of Dubai, the docuseries captures the excitement and energy of Binance Blockchain Week, which took place in October last year. Dubai, known as an epicenter for crypto innovation, provided the perfect backdrop for this landmark event. Industry leaders, famous personalities, innovators, and enthusiasts gathered in the Coca-Cola Arena to shape the future of blockchain. The event also marked the return of Binance Founder Changpeng Zhao (CZ) to the public spotlight, coinciding with the beginning of a market comeback, adding an extra layer of significance to the occasion.
Rachel Conlan, Chief Marketing Officer of Binance, shared: “Binance Blockchain Week is about so much more than just Binance. It’s a celebration of the entire crypto ecosystem and the incredible power of community. This event really shows how crypto is bringing people together from all over the world.”
“We’re excited to be releasing this docuseries today, which captures the heart and soul of our shared vision for a decentralized future. Binance Blockchain Week has grown significantly since we first organized it back in 2019, and it is humbling to see the event grow alongside our community numbers. Through it all, our mission remains the same: to unite people and provide a welcoming platform for everyone to learn about crypto and blockchain technology,” she added.
The two-part docuseries captures the meticulous preparation and execution of the event, diving into the heart of what makes Binance Blockchain Week a cornerstone crypto event that attracts some of the biggest players in the blockchain industry. The premiere episode, now available on the official Binance YouTube channel, features exclusive interviews with key figures such as Binance’s CEO Richard Teng, Co-Founder Yi He, Chief Marketing Officer Rachel Conlan, and more.
Viewers can also expect candid behind-the-scenes moments, scenic shots of the iconic Dubai skylines, and the transformation of the Coca-Cola Arena into a crypto utopia. First-hand shots of brainstorming sessions, floor plans, and last-minute adjustments are also captured, including reactions to the surprise announcement of Binance founder Changpeng Zhao’s appearance.
Binance Blockchain Week has quickly grown to become a pivotal event in the blockchain and crypto industry. The long-term vision is to shape Binance Blockchain Week into becoming the ‘Davos of Crypto.’ The most recent event in Dubai was fully sold out, welcoming almost 5,000 attendees, featuring more than 200 speakers, with over 50 sponsors, and reaching millions more tuning in through Binance Live streams.
The first part of ‘Building the Future: Inside Binance Blockchain Week’ docuseries is now available on the official Binance YouTube channel. Individuals with Amazon Prime, Amazon MX Player and Shahid membership can also enjoy immediate access to the complete two-part docuseries starting today.
About Binance
Binance is a leading global blockchain ecosystem behind the world’s largest cryptocurrency exchange by trading volume and registered users. Binance is trusted by more than 260 million people in 100+ countries for its industry-leading trading engine speed, protections for investors, and unmatched portfolio of digital asset products and offerings from trading and finance to education, research, social good, payments, institutional services, and Web3 features. Binance is devoted to building an inclusive crypto ecosystem to increase the freedom of money and financial access for people around the world with crypto as the fundamental means.
BARCELONA, Spain, March 4, 2025 /PRNewswire/ — LITEON Technology participates in the 2025 Mobile World Congress in Barcelona, Spain, for the third consecutive year. Under the theme “One Partner. All Solutions,” LITEON collaborates with eight international partners to showcase their energy-efficient 5G O-RAN, AI, and intelligent surveillance.
LITEON Technology participates in 2025 MWC, partnering with 8 industry leaders to unveil innovative solutions.
At 2025 MWC, LITEON showcases its diverse 5G ecosystem partnerships. Highlights in the 5G ORAN (Accelerate ORAN) segment include:
Collaboration with Vodafone on 5G O-RAN and AI image recognition for smart livestock farming.
Joint demonstration of high-speed ORAN with Software Radio Systems (SRS) portable, scalable srsRAN Enterprise solution.
5G cloud intelligent software control solution with BubbleRAN.
Integrated O-RAN turnkey solutions with Aespula, Flectory, and Lanner.
Demonstration with Keysight Technologies on energy-efficient 5G ORAN products certified by ETSI and ORAN Security.
LITEON also showcases its 5G private network base station solutions (Simplify MPN) series in collaboration with several renowned companies, including:
Collaboration with NTT EAST on an all-in-one 5G small cell and SMO platform, integrating the RAN Intelligent Controller (RIC) to optimize real-time small cell operations, reducing power consumption by approximately 65%.
Joint demonstration with CampusGenius on 5G remote automation for supply chains, significantly enhancing logistics efficiency.
Three-way collaboration with Yonsei University and Yberg on 5G smart factory applications, leveraging 5G’s high-speed, low-latency advantages to improve smart factory robotic arms and AI applications, exemplifying Industry 4.0 combined with 5G.
For the first time at MWC, LITEON presents its Smart Life AIoT solutions, featuring AI facial recognition, intelligent access control systems, and the AI Vision intelligent surveillance system for real-time detection feedback.
Anson Chiu, President of LITEON, states, “This year marks LITEON’s 50th anniversary. We are committed to technology development and sustainability. LITEON integrates networking, 5G, intelligent surveillance, and AI to provide advanced IoT products, helping global enterprises achieve high-performance and energy-saving applications.”
Richard Chiang, General Manager of Smart Life Application SBU, adds, “LITEON showcases 5G O-RAN hardware and software integration results, meeting diverse customer needs from enterprise to home use. We aim to build new heights of 5G with global partners, sharing a win-win situation.”
LITEON continues to invest in network infrastructure and hardware-software integration, striving to provide secure, energy-efficient and high-efficiency 5G solutions. We aim to strengthen network communication technologies, actively supporting the critical needs of customers.
LETHAM, Scotland, March 4, 2025 /PRNewswire/ — MDJM LTD (Nasdaq: UOKA) (the “Company” or “MDJM”), an integrated global culture-driven asset management company, today announced the launch of its e-commerce platform, managed by MD Local Global Limited, a wholly owned subsidiary of MDJM LTD in the United Kingdom, now live at www.uokaus.com. Designed to integrate commerce with cultural heritage, the platform features handcrafted products that reflect craftsmanship, artistic traditions, and ethical values. This initiative aligns with MDJM’s broader efforts to expand its commercial presence, highlight historical significance, and support cultural appreciation and craftsmanship-based retail.
The platform is structured as more than a marketplace, aiming to provide products that carry historical and cultural significance beyond material function. Each item is selected for its artistic authenticity, craftsmanship, and cultural depth, offering consumers an opportunity to own pieces that reflect heritage and traditional values.
MDJM intends to collaborate with artisans, designers, and craftsmen from around the world whose work aligns with its commitment to preserving traditional craftsmanship and promoting ethical business principles. The Company anticipates developing a diverse collection that represents various artistic traditions through such collaborations.
The newly launched platform serves a global audience and is designed to offer quality lifestyle products that embody the Company’s values. Through carefully curated selections, the Company seeks to share these principles worldwide through the platform, providing consumers with products that celebrate tradition, cultural heritage, and craftsmanship, offering consumers access to goods consistent with this vision. The Company believes that thoughtful consumer choices contribute to preserving these values, supporting artisans, and fostering a marketplace that upholds its cultural heritage.
“The launch of this platform is expected to contribute to MDJM’s long-term strategy by expanding its footprint in cultural commerce,” said Mr. Siping Xu, Chairman and Chief Executive Officer of MDJM. “Through this platform, we aim to bridge tradition and innovation by curating a marketplace that upholds artistic integrity and thoughtful design aligned with our long-term vision.”
About MDJM LTD
MDJM LTD is a global culture-driven asset management company focused on transforming historical properties into cultural hubs that integrate modern digital technology with rich historical value. The Company has been expanding its operations in the UK, where it is developing projects such as Fernie Castle in Scotland and the Robin Hill Property in England. These properties are being remodeled into multi-functional cultural venues that will feature fine dining, hospitality services, art exhibitions, and cultural exchange events. As part of its broader strategy, MDJM seeks to position itself as a hub for artisan exchanges, art shows, and sales, leveraging its historical properties as platforms for promoting Eastern and Western cultural exchanges. This initiative reflects the Company’s commitment to furthering its global market expansion and enhancing its cultural business footprint. For more information regarding the Company, please visit https://www.ir-uoka.com/.
Forward-Looking Statements
This announcement contains forward-looking statements. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s annual report on Form 20-F and its other filings with the U.S. Securities and Exchange Commission.
Investor Contact:
Sherry Zheng WAVECREST GROUP INC. Phone: +1 718-213-7386
GROWING SALES TO US$14.6 billion, FREE CASH FLOW INCREASED TO US$1.6 billion
HONG KONG, March 4, 2025 /PRNewswire/ — Global cordless power tool, outdoor power equipment and floorcare & cleaning company Techtronic Industries Co. Ltd. (“TTI” or the “Group”) (stock code: HK:0669, ADR symbol: TTNDY) is pleased to announce the audited consolidated results of the Company and its subsidiaries for the year ended December 31, 2024. TTI delivered record sales of US$14.6 billion in 2024, growing 6.8% in local currency and 6.5% at reported rates. MILWAUKEE continued to extend its dominant market leadership position with sales growth of 11.6% in local currency and RYOBI also delivered tremendous results, growing 6.4% in local currency.
TTI delivered outstanding financial results in 2024, growing sales 6.8% in local currency to US$14.6 billion and generating record Free Cash Flow of US$1.6 billion.
In local currency, our Flagship MILWAUKEE business grew 11.6% and RYOBI grew 6.4%.
TTI finished 2024 with total net debt of US$44 million and gearing of 0.7%.
Financial Performance Highlightsfor 2024
2024*
US$’
million
2023
US$’
million
Changes
Revenue
14,622
13,731
+6.5 %
Gross profit margin
40.3 %
39.5 %
+85 bps
EBIT
1,270
1,135
+11.9 %
Profit attributable to Owners of the Company
1,122
976
+14.9 %
Basic earnings per share (US cents)
61.43
53.36
+15.1 %
Free Cash Flow
1,591
1,281
+310 m
Dividend per share (approx. US cents)
29.09
24.84
+ 17.1 %
*For the year ended December 31, 2024
Gross margin improved 85 bps to 40.3% in 2024. This improvement is the result of a higher mix of MILWAUKEE branded business, aftermarket battery sales, and highly innovative margin accretive new products across our core verticals. EBIT grew 11.9% to US$1,270 million. Net profit improved 14.9% to US$1,122 million, reflecting a 31.9% reduction in net interest expenses from 2023. Earnings per share also improved 15.1% to US61.43 cents. TTI improved working capital 322 bps in 2024 to 14.4%. Based on its rigorous working capital controls and processes, the Group will be targeting a working capital range between 14% to 16% as a percentage of sales in the future.
TTI delivered record sales of US$14.6 billion in 2024, growing 6.8% in local currency and 6.5% at reported rates. Our Flagship MILWAUKEE business continued to extend its dominant market leadership position with sales growth of 11.6% in local currency. RYOBI, the #1 consumer battery-powered tool and outdoor brand globally, also delivered tremendous results, growing 6.4% in local currency. The remaining businesses decreased sales by 14% compared to 2023 as we focused on plans to increase profitability in these areas.
The Board is recommending a final dividend of HK118.00 cents (approximately US15.19 cents) per share. Together, with the interim dividend of HK108.00 cents (approximately US13.90 cents) per share, this will result in a full-year dividend of HK226.00 cents (approximately US29.09 cents) per share.
Mr. Horst Pudwill, Chairman of TTI, said, “We are extremely proud of our financial performance in 2024, which would not have been possible without the efforts of our outstanding global team. With gearing of 0.7% at year end 2024, our balance sheet is extremely healthy. In 2025, we will continue our mission of cordless domination, bringing disruptive technology and innovative design to the market, while delivering outstanding financial results.”
Mr. Steven P. Richman, CEO of TTI, commented, “Our exceptional world-class team and culture is the reason for these tremendous financial results. Our talented people across the globe have worked together as one team, with incredible dedication to continue to grow TTI’s financial results, partner with our outstanding customers, and develop our powerful brands. We look forward to our continued success in 2025 and beyond.”
Forward-Looking Statements This announcement contains certain forward-looking statements or uses certain forward-looking terminologies which are based on the current expectations, estimates, projections, beliefs and assumptions of TTI about the businesses and the markets in which the Group operates and reflect TTI’s views as of the date of this announcement. These forward-looking statements are not guarantees of future performance and are subject to market risk, uncertainties and factors beyond the control of TTI. Therefore, actual outcomes and returns may differ materially from the assumptions made and the statements contained in this announcement.
About TTI Techtronic Industries Company Limited (“TTI” or the “Company”), founded in 1985 by German entrepreneur Horst Julius Pudwill, is a world leader in cordless technology. As a pioneer in Power Tools, Outdoor Power Equipment, Floorcare and Cleaning Products, TTI serves professional, industrial, Do It Yourself (DIY), and consumer markets worldwide. With more than 45,000 employees globally, the company’s relentless focus on innovation and strategic growth has established its leading position in the industries it serves.
MILWAUKEE is at the forefront of TTI’s professional tool portfolio. With global research and development headquartered in Brookfield, Wisconsin, the historic MILWAUKEE brand is renowned for driving innovation, safety, and jobsite productivity worldwide. The RYOBI brand, headquartered in Greenville, South Carolina, remains the top choice for DIYers and continues to set the standard in DIY tool innovation. TTI’s diverse brand portfolio also includes trusted brands like AEG, EMPIRE, HOMELITE, and leading floorcare names HOOVER, ORECK, VAX, and DIRT DEVIL (based in Charlotte, North Carolina).
TTI’s international recognition and renowned brand portfolio are supported by a strong ownership structure that underscores the company’s global reach and stability. The Pudwill family remains the company’s largest shareholder, with the remaining ownership held largely by institutional investors at North American and European-owned firms. TTI is publicly traded on the Hong Kong Stock Exchange and is a constituent stock of the Hang Seng Index, operating globally with a strong commitment to environmental, social, and corporate governance standards. For more information, visit www.ttigroup.com.
All trademarks listed other than AEG and RYOBI are owned by the Group. AEG is a registered trademark of AB Electrolux (publ.) and is used under license. RYOBI is a registered trademark of Ryobi Limited and is used under license.
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