Johnson Electric reports results for the half year ended 30 September 2022
Highlights of FY22/23 Half-Year Results
- Group sales US$1,770 million – up 6% compared to first half of the prior financial year. Excluding the effects of foreign currency movements and an acquisition, sales increased by 11%
- Gross profit US$355 million or 20.0% of sales (compared to US$357 million or 21.3% of sales in first half of the prior financial year)
- Adjusted EBITA US$111 million (compared to US$138 million in first half of the prior financial year)
- Net profit attributable to shareholders decreased by 40% to US$56 million or 6.21 US cents per share on a fully diluted basis
- Net profit excluding non-cash foreign exchange rate movements and restructuring costs, decreased by 19% to US$78 million
- Free cash flow from operations US$80 million (compared to a free cash outflow of US$56 million in first half of the prior financial year)
- Total debt to capital ratio of 17% and cash reserves of US$298 million as of 30 September 2022
- Interim dividend 17 HK cents per share (2.18 US cents per share) with a scrip dividend alternative
