2021 Review
Scroll down to start

2021 Review

All trademarks and trade names 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.
2021 Review
Financial Highlights
Chairman's Statement
Chief Executive Officer's Message Chief Executive Officer's
Strategic Direction
Powerful Brands
Cordless Leadership
Exceptional People
Supply Chain Investments
Geographic Expansion Success
Vice Chairman’s Message

2021 Review

Over the 2021 Financial Year, TTI dramatically outpaced the market and strengthened our global leadership position in the industries we serve. The year serves as a model for how our organization will continue to lead the once in a generation transition to cordless, battery-powered products

Record Revenue12TH COnsecutive Year of growth

Driven by increased strategic investments in
  • New product
  • Manufacturing capacity
  • Geographic expansion
  • Logistics
  • In-field marketing initiatives
For the year ended December 31,2021

13TH COnsecutive Year of gross Margin improvement

Gross margin improved for the 13th consecutive year to 38.8%, up +54 basis points
Driven by
  • The launch of high margin new products
  • Disciplined mix management
  • Exceptional productivity gains
  • Volume leverage
For the year ended December 31,2021

14TH COnsecutive Year ofRecord profit

US$1,099 million
For the year ended December 31,2021
US$1,192 million
EBIT margin improved by 17 basis points to 9.0%
Basic earnings per share
US60.04 cents
Increased 37.1% over 2020 to US60.04 cents
Dividend per share
US23.81 cents
Full-year dividend increased 37.0% against US17.37 cents per share in 2020
Working capital as % of sales
The Group maintained a disciplined working capital ratio
Management’s Discussion and Analysis
US$’ million
US$’ million
Revenue 13,203 9,812 +34.6%
Gross profit margin 38.8% 38.3% +54 bps
EBIT 1,192 868 +37.2%
Profit attributable to Owners of the Company 1,099 801 +37.2%
Basic earning per share (US cents) 60.04 43.80 +37.1%
Dividend per share (approx. US cents) 23.81 17.37 +37.0%


We are confident that our unrelenting bold vision, customer focus and business momentum will make 2022 another outstanding year and position TTI with exciting opportunities in the months and years ahead.”

chief executive officer’s

While we are pleased with our 2021 performance, we firmly believe the next five years will be a tremendous period for company’s sales and profit growth.”
Strategic Direction
Strategic Direction
Strategic Direction
Strategic Direction
Strategic Direction
Powerful brands
Cordless Leadership
We are laser-focused on developing advanced, demonstrably better and technologically superior cordless products. Our development process is driven by the end user’s needs from start to finish. As an example, when developing our new flagship RYOBI 80V HP Zero-Turn Riding Mower, we started from a blank canvas rather than working to “electrify” an existing petrol-powered product. This allowed us to optimize each critical component of the mower to maximize power and performance while adding new innovative features
Cordless battery systems
139 Tools
251 Tools
13 Tools
4 Tools
260 Products
75 Products
3 Tools
12 Tools
For the year ended December 31, 2021
Cordless Platforms
They last longer, think faster and work harder than all other professional lithium-ion batteries. Built to withstand even the harshest environments, REDLITHIUM batteries deliver more work over the life of the battery, no matter what the job
The MILWAUKEE M12 System continues to introduce innovative solutions that deliver portable productivity and performance
The MILWAUKEE M18 platform continued to grow with the launch of several best-in-class additions
With the launch of the industrial MILWAUKEE MX FUEL Equipment System, we entered the multi-billion-dollar light equipment space
The RYOBI 18V ONE+ System features over 260 innovative product solutions, giving users the ultimate in versatility and selection to get the job done. With cordless lithium-ion technology, RYOBI powers through almost anything. From drilling, cutting, fastening and cleaning, to lighting, plumbing, trimming, mowing and clearing, the ONE+ system gives users The Power To Do More
RYOBI 18V ONE+ HP tools feature premium brushless motors, advanced electronics, and high-performance lithium-ion batteries to deliver a best-in-class user experience. These high-performance tools utilize advanced technology to deliver more power, runtime, durability, and speed. Designed with superior ergonomics without sacrificing performance
The RYOBI 40V System puts the power in your hands to tackle any job without having to plug-in or fill-up. With 75 innovative tools and counting, each product is engineered to deliver GAS-LIKE POWER for superior performance and fade-free runtime — from first cut to last. What’s more, RYOBI’s 40V lithium-ion battery fits every charger and powers every RYOBI 40V tool
RYOBI 40V HP tools combine premium brushless motors, advanced electronics, and high-performance lithium-ion batteries to deliver gas power and superior runtime all while maintaining compatibility with the full 40V family of products
HOOVER Cordless CLEANING Powered by the ONEPWR Battery
Leveraging the global success of TTI’s lithium-ion technology, HOOVER continues to advance home cleaning through the most diverse cordless cleaning portfolio in the category. From vacuums to spot cleaners to wet/dry vacuums, all cordless cleaning tools in the HOOVER portfolio works with the same ONEPWR interchangeable lithium-ion battery
With the success of TTI’s lithium-ion technology, VAX continues to build market share in the UK with a significant offering of cordless cleaning products. With vacuums, spot and hard floor cleaners, all VAX cordless products work with the same ONEPWR interchangeable lithium-ion battery
We added another
high potential college
graduates into
our Leadership
Development Program

Superior Supply Chain Management

  • Bold investments in additional manufacturing capacity to support future growth
  • We continue to invest in world-class facilities across Asia, North America, and Europe
  • All TTI sites worldwide adhere to the TTI OPEX philosophy of delivering world-class quality, driving increased productivity, and maintaining best-in-class service levels for our customers

Superior Supply Chain



Our breathtaking growth in the European theater exemplifies the power of our world-class management team
Historical sales turnover per region
  • The European team’s success is a great example of the company’s ability to continue to grow outside the core US market
  • Achieved incredibly strong growth levels in Canada, Mexico, Australia/New Zealand, and Asia
77.4% of total revenue
14.8% of total revenue
7.8% of total revenue
TTI is dedicated to creating a more just, diverse, safe, and environmentally-responsible world. These aren't just concepts for us, they are the concrete targets, long-term plans, and proud accomplishments outlined here

Vice Chairman’s

At TTI, we are fully committed to doing business in a way that creates a more just, diverse, safe, and environmentally-responsible world.”