Johnson Electric (179) Q3 2025 earnings summary

Executive summary

• Group sales for the nine months ended 31 December 2024 were US$2,730 million, down 5% year-over-year, impacted by lower global light vehicle production, weak consumer demand, and negative currency effects of US$11 million.

• Management is focused on tight cost control and maintaining a conservative balance sheet amid macroeconomic uncertainty and deferred customer product launches.

• Several customers have deferred new product launches due to ongoing macroeconomic uncertainty.

Financial highlights

• Group sales declined from US$2,871 million to US$2,730 million for the first nine months, with negative impacts from both APG and IPG segments and minor currency effects.

• APG sales were US$2,314 million, down US$108 million year-over-year; excluding currency effects, sales fell 4%.

• IPG sales were US$416 million, a 7% decrease year-over-year, with negligible currency impact.

• Full-year group sales are anticipated to be a mid-single-digit percentage lower than the prior year.

Outlook and guidance

• High macroeconomic uncertainty is expected to persist, weighing on consumer sentiment and delaying new product launches.

• Full-year Group sales are expected to be a mid-single-digit percentage lower than the prior year, with Q4 sales trajectory affected by ongoing macroeconomic challenges and the Chinese Lunar New Year.

• Management anticipates continued focus on cost control and balance sheet strength in the coming year.