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Johnson Electric reports results for the half year ended 30 September 2025
- Group sales US$1,833 million – down 1% compared to first half of the prior financial year
- Gross profit US$441 million or 24.0% of sales (compared to US$438 million or 23.6% of sales in the first half of the prior financial year)
- Adjusted EBITA US$159 million or 8.7% of sales (compared to US$177 million or 9.5% of sales in the first half of the prior financial year)
- Net profit attributable to shareholders increased by 3% to US$133 million or 14.21 US cents per share on a fully diluted basis
- Underlying net profit, excluding the net impact of unrealized gains or losses relating to exchange rate movements and restructuring costs, decreased by 8% to US$123 million
- Free cash flow from operations US$174 million (compared to US$144 million in the first half of the prior financial year)
- Total debt to capital ratio of 11% and cash reserves of US$932 million as of 30 September 2025
- Interim dividend 17 HK cents per share (2.18 US cents per share)
HONG KONG SAR – Media OutReach Newswire – 12 November 2025 – Johnson Electric Holdings Limited (“Johnson Electric”), a global leader in electric motors and motion subsystems, today announced its results for the six months ended 30 September 2025.
Total group sales for the first half of the 2025/26 financial year totalled US$1,833 million, a decrease of 1% over the first half of the prior financial year. Excluding the effect of foreign exchange rate changes, sales declined by 2%. Net profit attributable to shareholders increased by 3% to US$133 million or 14.21 US cents per share on a fully diluted basis. Underlying net profit decreased by 8% to US$123 million.
Automotive Products Group
The Automotive Products Group (“APG”), which accounted for 84% of total Group sales in the period under review, reported a 3% decline in sales on a constant currency basis. On a regional basis, APG’s constant currency sales were lower by 6% in Asia, 1% in the Americas, and 1% in Europe.
The reduced level of sales achieved in the first half reflected the combination of price reductions for more mature product applications and APG’s Sino-foreign joint venture OEM customers in China continuing to experience a significant loss in market share.
Car production in Asia, dominated by China, now accounts for approximately 60 percent of global vehicle volume. Beyond its sheer size, the dynamism of China’s auto sector is transforming the market domestically and, increasingly, globally. Government subsidies, expanding charging infrastructure, and aggressive pricing among the more than 100 brands of electric vehicles have fuelled a structural shift to electrification – with New Energy Vehicles (NEVs) amounting to over half of all passenger vehicles sold in China. Domestic OEM brands are leading this transformation, having almost doubled their market share in less than five years to over two-thirds of domestic sales.
In the short term, APG has been negatively impacted by the rapid shift in automotive OEM market share, since a majority of its sales in China have historically been to Sino-foreign joint venture customers. However, encouraging progress is being made in winning new business from several leading domestic Chinese OEM customers who have found Johnson Electric to be a responsive and cost-competitive partner to support their future growth plans. Those plans include accelerating exports of “Made in China” vehicles, as well as establishing assembly plants elsewhere in the world that will produce a new generation of vehicles “Designed in China”. As the newly awarded programs begin to ramp-up production in the second half of the financial year, APG is on track to return to growth.
Outside of Asia, automotive industry demand over the period under review was relatively subdued. In Europe, consumer interest in NEVs remains strong, especially for plug-in hybrids, but concerns over job security and the comparatively higher price of NEVs are keeping buyers in check. The region’s automakers are themselves faced with enormous structural challenges that include increased competition from Chinese brands who have taken five percent of the market, and excess production capacity that is forcing several OEMs to pause production in some plants and rethink their future vehicle roadmaps.
North America’s automotive sector is similarly navigating a turbulent landscape shaped by trade policy uncertainty, shifting consumer behaviour, and electrification trends. Earlier in the year, the market was lifted by a consumer rush to buy new cars to beat an expected tariff-induced price hike. Demand momentum has since softened, except for a brief boost to electric vehicle sales spurred by the expiry of a federal tax credit. Volatile tariff policies are also disrupting supply chains, requiring OEMs and their suppliers to reconfigure operations across the US, Canada, and Mexico. These changes are increasing costs, leading to higher vehicle prices and reduced affordability.
APG’s strategy in the context of this varied and highly unpredictable global operating environment remains, firstly, to focus on bringing to market innovative motion technologies that enable electrification, reduce emissions, and enhance passenger safety and comfort. Secondly, APG aims to offer its diverse base of customers an unrivalled total cost and value proposition that combines speed, scale, and reliability of production with an adaptable global operating footprint.
Industry Products Group
The Industry Products Group (“IPG”), which accounted for 16% of total Group sales, reported flat sales compared to the first half of the prior financial year on a constant currency basis.
IPG’s sales have stabilized after a difficult period of contraction that resulted from a softening in demand for discretionary hardware products (relative to services) in the post-pandemic era; and low pricing (rather than brand name, functionality, or reliability) increasingly becoming the key purchasing criteria for many consumers.
Management has rationalized and consolidated its production to focus on application segments where it can leverage highly automated assembly lines and digital processes to be more cost competitive. Equally important, new business development has been redirected towards the rapidly growing base of Chinese manufacturers who are capturing an increasing share of the global market for consumer and commercial hardware goods – particularly for low-priced, entry-level products. Although the repositioning of IPG is still at an early stage, the division has secured several recent orders that give rise to optimism.
In parallel to targeting high-volume, standardized motion product applications, IPG has continued to make progress in supplying motion subsystem solutions to more specialized, higher-growth segments, including warehouse automation, medical devices, semiconductor manufacturing equipment, and liquid cooling applications.
Formation of PRC Joint Ventures to pursue opportunities in Humanoid Robotics
In July 2025, the Group announced the formation of two joint venture companies with Shanghai Mechanical & Electrical Industry Co., Ltd, a leading Chinese industrial manufacturing company with extensive interests across a wide range of end markets. This new initiative has been established to enable the end-to-end delivery of high-performance humanoid robotic core components and subsystems to customers across the PRC. 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.
Gross Margins and Operating Profitability
Gross profit margins increased slightly to 24.0% from 23.6%, primarily due to reduced direct labour costs, material cost deflation, and favourable foreign exchange rate movements that outweighed the effects of price reductions and wage inflation.
Reported earnings before interest, tax and amortization (“EBITA”) was flat at US$171 million. Adjusted to exclude non-cash foreign exchange rate movements and restructuring charges, EBITA was US$159 million or 8.7% of sales.
Free Cash Flow and Financial Condition
Free cash flow from operations increased to US$174 million from US$144 million, largely due to a reduction in working capital that more than offset an increase in capital expenditure. Capital expenditure levels in the near term are expected to remain at a high single-digit percentage of sales due to planned investments in automation and further development of the manufacturing footprint.
The Group remains in a financially robust condition with a total debt to capital ratio of 11% and cash balances of US$932 million as of 30 September 2025.
Interim Dividend
The Board has today declared an interim dividend of 17 HK cents per share, equivalent to 2.18 US cents per share (2024/25 interim: 17 HK cents per share). The interim dividend will be payable on 6 January 2026 to shareholders registered on 9 December 2025.
Chairman’s Comments on the Half-Year Results and Outlook
Commenting on the results, Dr. Patrick Wang, Chairman and Chief Executive, said, “Johnson Electric delivered stable financial results in the six-month period ended 30 September 2025, despite subdued macro-economic conditions and ongoing uncertainty concerning global trade tariffs.”
“Although the global economy is showing resilience in the face of the disruption caused by the radical shift in US international trade policy, overall consumer sentiment in the world’s major economies has remained cautious due to cost of living concerns and softening labour markets. In Johnson Electric’s primary end markets of automotive vehicles and consumer and industrial hardware products, the impact has been mixed. Favourable growth dynamics in several new motion application segments are being offset by sluggish growth of more mature products and by OEM customers delaying the launch of new programs due to ongoing uncertainties related to demand and global supply chain configurations.”
Regarding the outlook for the second half of the financial year, Dr. Patrick Wang commented, “The resilience of the global economy during the first half of the year belied a precarious environment for trade and investment that remains a significant concern for international manufacturing businesses. The new regime of higher US tariffs on imports from almost all countries is still unfolding and its impact on consumer behaviour, business confidence, and manufacturing supply chains is unclear.”
Dr. Patrick Wang further commented, “Notwithstanding the highly uncertain macro-economic outlook, Johnson Electric is cautiously optimistic that its sales in the second half of the financial year will improve modestly over the prior year. Over the medium and longer term – and assuming that the ongoing trade negotiations between the US and China result in a pragmatic agreement – the prospects for profitable growth are encouraging. Our product portfolio of innovative components and subsystems is uniquely well placed to help our customers solve their most critical motion-related problems. And we are continuing to invest in adapting and strengthening our operating model to provide security of supply to customers at the same time as delivering sustainable value creation for shareholders.”
Hashtag: #JohnsonElectric
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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 in over 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: www.johnsonelectric.com.
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.
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Skyro Rolls Out Reusable Digital Credit Across the Philippines, Explores Opportunities in Southeast Asian Markets
SkyroCredit is a reusable, revolving digital credit line that provides access to a fixed credit limit without a plastic and without relying on the Visa or Mastercard networks. Once approved, a customer’s credit is available within the Skyro app and can be used instantly by scanning any QR Ph code, the Philippine QR payment standard accepted at more than 90% of merchant outlets nationwide. Leading merchants include SM, Mercury Drug, Watsons, Jollibee, McDonald’s, and DALI Supermarket. Customers can borrow, repay the amount they have used, and reuse the same credit limit without reapplying.
NasimAliev, Skyro co-founder, said:
“Our goal is to provide access to affordable credit for underserved communities across Southeast Asia at a time when everyday expenses continue to rise and consumers’ financial priorities are evolving.
“Today’s consumers need financial solutions built around real-life spending needs and changing financial priorities. With SkyroCredit, we bring flexible financial solutions to our customers’ fingertips. The credit line offers all the benefits of flexibility, including an interest-free grace period. This provides customers with maximum convenience for everyday use while even allowing them to save money through cashback.
“By expanding our portfolio of point-of-sale loans, cash loans, and Buy Now, Pay Later (BNPL) products to include flexible credit lines, we are building long-term customer relationships based on everyday use, responsible borrowing, and trust.”
Eligible customers receive initial credit limits of PHP 1,000 to PHP 10,000 (approximately USD 17 to USD 170), with the opportunity to increase their limit to as much as PHP 100,000 through regular, responsible use. Purchases carry 0% interest for up to 45 days. Every purchase also earns 1% cashback, which customers can redeem on future purchases through the app.
Skyro’s expansion into reusable digital credit addresses one of Southeast Asia’s largest financial inclusion opportunities by enabling sustained customer engagement. According to the Bangko Sentral ng Pilipinas, the central bank of the Philippines, only half of Filipino adults have a formal financial account. As QR-based payment networks continue to expand across the region, Skyro can leverage this infrastructure to deliver accessible digital credit products that meet growing consumer demand.
Hashtag: #Skyro #SkyroCredit #DigitalCredit
The issuer is solely responsible for the content of this announcement.
About Skyro
Skyro is a high-growth, digital-first fintech group delivering scalable, responsible access to financial services across high-potential emerging markets. Powered by proprietary data science, AI-driven credit decisioning and alternative data scoring, the company combines a mobile-native experience with modular fintech architecture to serve underserved customer segments at scale.
In just three years, Skyro has grown to serve over one million active customers in the Philippines, underpinned by a robust credit portfolio exceeding $200 million. The company’s strategic ambition is to establish itself as the preeminent full-spectrum financial services group across dozens of emerging markets worldwide.
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Peach Garden Celebrates Mid-Autumn Festival with Singapore Flyer-Inspired Mooncake Keepsake Gift Set
The Singapore Flyer design roots the collection in a recognisably local identity, with the launch timed to the National Day period as the city moves into the traditional Mid-Autumn Festival gifting and reunion season. Pre-orders open from 13 July to 10 August at $61 nett inclusive of GST (usual price: $91.11).
A Keepsake Built Around the Singapore Skyline
Designed around a circular silhouette that echoes the Singapore Flyer’s iconic form, the Graceful Showstopper is crafted to hold its place in a home well beyond the festival.
Rooted in a recognisably Singaporean aesthetic, it functions as a decorative display piece as much as a festive gift, whether set out for a family gathering, presented to a business client, or kept as a personal memento of the season. Logo customisations are available on corporate orders of 50 boxes or more.
Handmade Daily, in a Range Built for Modern Palates
Returning alongside the centrepiece is Peach Garden’s low-sugar mooncake range, available in baked and snowskin varieties. The Deluxe Combination of Four spans four flavours across eight miniature pieces:
- Mini Lemon Yuzu Snowskin
- Mini Pandan Lotus Snowskin with Melon Seed
- Mini Low Sugar White Lotus Snowskin with Macadamia
- Mini Lychee Snowskin with Lychee Martini Truffle
Every mooncake in the range is handmade fresh daily across Peach Garden’s six outlets, a practice the group has maintained amidst an industry where production has shifted increasingly toward automation.
The collection will be available at more than 20 festive kiosks across Singapore for the first time, including Takashimaya from 20 August and VivoCity from 25 August, both through 25 September. Collection is available from 11 August to 25 September at all six Peach Garden outlets, from 11am to 3pm and 6pm to 10pm.
Hashtag: #PeachGarden #GracefulShowstopper #MoonCakeFestival #MidAutumnFestival
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The issuer is solely responsible for the content of this announcement.
About Peach Garden
Peach Garden is one of Singapore’s leading Chinese restaurant brands, renowned for its contemporary Chinese cuisine, exceptional hospitality, and award-winning festive creations. With six outlets across Singapore, the brand continues to bring families, friends, and businesses together through meaningful dining and gifting experiences.
For much of the past century, urban development followed a relatively straightforward equation: build housing, expand infrastructure and accommodate population growth. This formula is now showing its limitations. As climate risk intensifies, biodiversity declines and cities compete not only for investment but also for talent, developers around the world are now forced to redefine the very nature and purpose of what they build.
From the Gulf to Singapore, and from Scandinavia to Southeast Asia, large-scale urban projects are evolving into integrated ecosystems where mobility, green infrastructure, education, healthcare, digital services and environmental restoration are planned together. The industry paradigm has shifted from constructing buildings to designing places capable of sustaining both economic growth and quality of life over generations.
Vinhomes has initiated a comprehensive repositioning to navigate this global transition.
Known as Vietnam’s largest residential developer, the company is increasingly recognized not merely as a builder of housing projects, but as a creator of large-scale lifestyle ecosystems, communities where urban planning, technology, ecology and public services are conceived as parts of the same system.
When Nature Becomes Urban Infrastructure
For decades, environmental considerations were often introduced after a city’s masterplan had already been completed.
The emerging model reverses that sequence. Across many of its recent developments, Vinhomes operates on the principle that natural systems should become the starting point of planning. Hydrology, coastal conditions, biodiversity and existing vegetation are treated as design inputs that shape the urban layout from the earliest stages.
This philosophy marks a notable departure from conventional large-scale development, particularly in rapidly urbanising markets where natural landscapes have frequently given way to intensive construction.
With more than 30 developments across Vietnam and a land bank equivalent to roughly two-thirds the size of Singapore, Vinhomes has the unusual opportunity to test this planning approach at a metropolitan scale.
Rather than replicating identical urban formulas, each project is designed around the ecological characteristics of its location.
The company maintains that the long-term success of a city should ultimately be measured not by how much has been built, but by whether natural ecosystems continue to thrive decades after residents have moved in. That perspective aligns with an increasingly influential school of urban planning in which green infrastructure is viewed as essential public infrastructure.
Factors Compelling Cities Toward Regeneration
Environmental, Social and Governance (ESG) frameworks have become standard across global investment. Urban planners, however, are beginning to question whether sustainability alone is sufficient.
Maintaining today’s environmental conditions may no longer be enough if tomorrow’s cities must also respond to rising temperatures, sea-level change and growing demographic pressures.
Vinhomes’ strategic response is crystallized in its ESG++, a framework that extends beyond conventional ESG principles by introducing two additional objectives: Regeneration and resilience.
The distinction is subtle but important.
Regeneration implies restoring ecological systems rather than simply reducing environmental impact. Resilience focuses on designing cities capable of adapting to changing climatic, technological and social conditions over many decades.
Projects such as Vinhomes Green Paradise Can Gio and Vinhomes Global Gates Ha Long are intended to demonstrate how these concepts can be incorporated into large-scale urban planning, combining renewable energy, smart infrastructure and ecological restoration within a single development model.
This shift highlights a growing global consensus: the success of next-generation cities will ultimately be measured by their ability to adapt to increasingly complex environmental challenges.
Vietnam’s Urban Story Is Becoming Part of a Global Conversation
For many international audiences, Vietnam remains associated primarily with its cultural heritage and natural landscapes. Urban development may become an equally important part of that story.
Rapid urbanisation, expanding infrastructure investment and a national commitment to achieve net-zero emissions by 2050 have created conditions in which entirely new urban models can be planned without many of the legacy constraints facing older cities.
This developmental opportunity is capturing increasing global interest.
Commenting on Vinhomes Green Paradise’s participation in the global 7 Wonders of Future Cities initiative, Jean-Paul de la Fuente, Director of the New7Wonders Organisation, described Vietnam as undergoing a “transformative step change” in its national identity and global positioning. He pointed to the country’s progress in reducing the carbon footprint of urban mobility as an example of coordinated action between government and the private sector that offers valuable insights extending beyond Southeast Asia.
For Vinhomes, participation in international platforms such as 7 Wonders of Future Cities is therefore less about showcasing a single project than about contributing to a broader discussion on how rapidly developing economies might approach urban growth differently. The company’s evolution mirrors a wider shift taking place across the global property sector.
Increasingly, the core value proposition for developers is no longer anchored in how many buildings they can deliver. Instead, it centers on whether they can create cities that remain economically competitive, environmentally resilient and socially relevant long after construction has ended.
Hashtag: #Vinhomes
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