1,591
0.7%
11.9%
Owners of the Company
14.9%
15.1%
17.1%
in local currency
1,591
Generating Record
Free Cash Flow
US$1.6 billion
Owners of the Company
14.9%
Financial Highlights
2024US$’ million
|
2023US$’ 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%
|
Chairman’s Statement

“I am extremely proud of our financial performance in 2024, which would not have been possible without the efforts of our outstanding global team.”
Chairman’s Statement

“I am extremely proud of our financial performance in 2024, which would not have been possible without the efforts of our outstanding global team.”
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.
Across the globe, our teams delivered above market growth in all regions. North America grew 5.5%, Europe grew 10.2%, and Rest of World, featuring Australia and Asia, delivered 12.5% growth in local currency.
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. Additionally, our world-class manufacturing, operations, and sourcing teams delivered on cost-saving productivity initiatives.
Total SG&A increased 42 bps to 31.7% as a percentage of sales. Research and Development (R&D), which represents our investment in new products and technologies, increased 44 bps and was the main driver of the total SG&A increase.
Financial Performance
EBIT grew 11.9% to US$1,270 million. EBIT Margin as a percentage of sales also improved, increasing 42 bps to 8.7% of sales.
Net profit improved 14.9% to US$1,122 million, reflecting a 31.9% reduction in net interest expense from 2023. Earnings per share also improved 15.1% to US61.43 cents.
Our team did an outstanding job managing inventory by reducing Inventory Days on Hand by 7 days to 102 days at year end. This reduction was primarily related to Raw Materials and WIP, demonstrating the success of our vendor localization and supply chain efficiency efforts.
We improved working capital 322 bps in 2024 to 14.4%. Based on our rigorous working capital controls and processes, we will be targeting a working capital range between 14% to 16% as a percentage of sales in the future.
Capex spend for the year was US$292 million, lower than last year by 41.9%. This spend includes investments in new products, manufacturing capacity, automation, and productivity initiatives in Vietnam, China, Mexico, and the United States.
We delivered US$1,591 million of Free Cash Flow in 2024, reflecting the improvements in net profit and working capital our teams made in 2024.
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. From our USA teams, led out of Wisconsin and South Carolina, to our European team headquartered in London, the Australian team in Melbourne, and our teams across China, Hong Kong, Vietnam, and Mexico, our diverse group of employees have come together as one team to drive our exceptional results. We look forward to our continued success in 2025 and beyond.
Outlook
I am extremely proud of our financial performance in 2024, which would not have been possible without the efforts of our outstanding global team. Exceptional people and culture are the keys to our success, and we remain focused on developing this foundation through recruiting, retaining, and investing in the right people around the globe. Importantly, our team is trained, flexible, and experienced in adapting to change, which will serve us well as the macro-economic environment continues to evolve.
Looking forward to 2025, we are well positioned to deliver mid to high-single digit sales growth for the company overall, while continuing to focus on improvement plans in the lower performing areas of our business.
With gearing of 0.7% at year end 2024, our balance sheet is extremely healthy. We are actively deploying our Capital Allocation Strategy and are well positioned to make investments to continue growing the business and improving profitability.
In 2025, we will continue our mission of cordless domination, bringing disruptive technology and innovative design to the market, while delivering outstanding financial results.
Chief Executive Officer’s Message

“Our People and Culture are the foundation of everything we’ve achieved — and will continue to achieve — driving our growth and setting us apart in the industry.”
Chief Executive Officer’s Message

“Our People and Culture are the foundation of everything we’ve achieved — and will continue to achieve — driving our growth and setting us apart in the industry.”
I am extremely proud of the financial results our teams delivered in 2024. TTI achieved record sales, growing 6.8% in local currency to US$14.6 billion, while driving even stronger profitability with EBIT Margin increasing by 42 bps to 8.7%. Our flagship MILWAUKEE business has continued to maintain its dominant market leadership position with sales growth of 11.6% in local currency, while our RYOBI business also delivered tremendous results, growing 6.4% in local currency. Our teams continue to build momentum in the early months of 2025, and we are looking forward to sharing our first half 2025 results with you later this year.
An Outside-In Approach
Our success is built on a deep commitment to understanding our users. Whether it’s the professional tradesperson or the homeowner consumer, we take the time to listen, learn, and anticipate their needs. This user-first mindset drives our innovation and allows us to continually deliver best-in-class solutions.
One Team Mentality: Our People and Culture
The foundation of everything we’ve achieved — and will continue to achieve — is our People and Culture. Recruiting, retaining, and investing in the right people across the globe has enabled us to deliver outstanding results year after year. Our culture is the driving force behind our growth, setting us apart in the industry.
We foster an environment that encourages innovation, ownership, accountability, transparency, and collaboration. By investing in training, leadership development, and career progression, we empower our teams to push boundaries and achieve extraordinary results. Our leadership team, alongside a strong bench of emerging leaders, ensures that we have the experience, market understanding, and operational expertise to drive our continued success.
Our people are more than just a strong workforce — they are our differentiator. The expertise, ingenuity, and passion within our teams set us apart, allowing us to solve complex challenges and create disruptive solutions as one team. This distinct edge, combined with our culture, fuels our ability to anticipate trends, drive innovation, and deliver excellence in every aspect of what we do.
Our ability to attract top talent is a testament to the culture we have built and the leadership that drives it forward. It is not just our products or technology that make us unique — it is our people who truly define our success.
Number One Consumer and Professional Brand
MILWAUKEE and RYOBI are global brands that lead in every market where we compete. Our ability to execute on a worldwide scale is one of our greatest strengths, enabling us to accelerate expansion across both the consumer and professional markets. With a relentless focus on innovation and user-driven solutions, we continue to set new benchmarks and reshape industries.
Our leadership is reinforced by a world-class distribution network that ensures our products reach end users efficiently and effectively. We have established unmatched reach and accessibility through strategic partnerships with the leading distribution partners in every market we serve.
This reach, combined with our commitment to driving disruptive technology, serves as a powerful competitive advantage. We are not just growing, we are reshaping industries through advancements that challenge conventional solutions. Our ongoing investments in Research & Development (R&D), state-of-the-art manufacturing, and advanced battery, motor, and electronics technologies are driving the next generation of solutions that redefine what’s possible for our users.
Our innovative manufacturing and supply chain capabilities are critical enablers of this growth, giving us the ability to seamlessly bring new technologies to market while maintaining quality, performance, and cost-effectiveness. With a robust global manufacturing footprint, we are well-positioned to navigate macroeconomic shifts and regional market dynamics, ensuring we deliver best-in-class solutions reliably and efficiently, regardless of external conditions.
Driving the Future
At TTI, innovation is not a choice — it’s a necessity. We are built on challenging, disrupting, and reshaping industries.
We will Disrupt. Transform. Lead!
But innovation doesn’t happen on its own — it’s driven by people. Investing in our People & Culture is just as critical as investing in technology and markets. By fostering an environment where bold ideas thrive and teams are empowered to challenge the status quo, we create the foundation for long-term success. We embrace this challenge with relentless focus, speed, and agility.
I would like to thank our Chairman, Horst Pudwill, Vice-Chairman, Stephan Pudwill, and our Board for their outstanding leadership, vision, and mentorship in 2024. In addition, sincere thanks to our employees throughout the company for delivering outstanding results to our shareholders and the innovation and performance our consumers, professionals, and distribution partners depend on.
With the momentum we’ve built, there is no limit to what’s next!
Strategic Drivers


TTI is a global strategy-based organization. We have been diligent in researching and refining the key concepts for ongoing sustainability and growth. Early on, leadership identified four strategic areas that would drive our success: Powerful Brands, Innovative Products, Exceptional People and Operational Excellence.
The synergy in our four strategic drivers creates a culture of disruptive innovation and execution resulting in world-class, powerful brands. This dynamic structure of interconnectivity not only maximizes growth and improvement in every area of our company; but also, delivers the innovative, high-quality driven products needed by consumers and professionals around the world.

BUILT ON TRUST,
POWERED BY INNOVATION:
REAL SOLUTIONS THAT BEGIN
WITH REAL PARTNERSHIPS
It all starts by earning the right to serve our users.
At MILWAUKEE, everything we do is built on one foundation: the user. We leverage breakthrough technology, products, and services to disrupt not only the industry but also how professional tradespeople experience their work. A core part of this disruption lies in how we approach the user differently — by becoming a true partner. Through these partnerships, we aim to build an unshakable, lifelong trust with our users — a trust rooted in our ability to consistently deliver solutions that empower them to excel in their work every single day.
Our process starts in the field with dedicated teams working side by side with trade professionals, observing everything from how their day begins to how it ends. We uncover their pain points, whether they stem from the jobsite or the broader challenges of labor. This unmatched level of insight allows us to deliver solutions that make them more productive, safer, and ultimately, more successful.
This access isn’t given — it’s earned through extraordinary commitment and action. We lead the industry because we understand our users’ needs better than anyone else, delivering innovations that redefine performance, productivity, and safety.


Maintenance


Contracting


Tree Care




Cordless System










MILWAUKEE continues to lead the subcompact category with innovative solutions that deliver portable productivity and performance. In 2024, the M12 System expanded with trade-dedicated tools tailored to meet specific user needs. For automotive technicians, the M12 Auto Shop Borescope w/ Wi-Fi File Sharing delivers simplified inspections and faster repair approval. Plumbers benefit from the M12 Brushless 1-1/4” – 2” Copper Tubing Cutter, delivering the fastest clean cuts, and an M12 75’ Drain Camera w/ PACKOUT Compatibility that can easily navigate tight bends for clear diagnosis and confident clearing of blockages. Each M12 solution reflects MILWAUKEE’s ongoing commitment to addressing user needs.
Cordless Systems
M12 REDLITHIUM Batteries set a high standard, lasting longer and working harder than other professional lithium-ion batteries. Together with leading motors and electronics, they deliver performance that surpasses higher voltage systems in a more compact size. This provides the user with superior ergonomics and portability.
Technology
Advanced motor technology maximizes efficiency, generating more power from a compact power source, ensuring top-tier performance, durability, and runtime in a smaller, lighter tool. REDLINK Intelligence integrates hardware and software to enable seamless communication between batteries and tools, offering unmatched levels of performance, protection and productivity.
New Products

3/8" Stubby Impact Wrench

6" Random Orbital Sander

w/ PACKOUT Compatibility

5/8" SDS Plus Rotary Hammer

Copper Tubing Cutter

w/ Wi-Fi File Sharing

5-3/8" Circular Saw

Jacket
Cordless System










In 2024, MILWAUKEE introduced THE NEXT BREAKTHROUGH in M18 FUEL — a demonstration of our relentless commitment to investing in core technologies that elevate the total performance and productivity of the industry-leading M18 System. By pioneering advancements in four critical components — motors, batteries, electronics, and charging — this breakthrough enhances the overall capabilities of the M18 System while maintaining full compatibility across all 300+ solutions.
Next-Generation M18 REDLITHIUM FORGE Batteries feature advancements in new lithium-ion cell technologies, electronics, mechanical design, and advanced protection, delivering the most power, the fastest charging, and longest life.
Next-Generation POWERSTATE Brushless Motors deliver more power and improved thermal capabilities in a smaller footprint.
Next-Generation REDLINK PLUS Intelligence enhances compatibility, performance, and protection across the M18 System. Advancements in efficient power management and delivery between tool and battery are now possible with the lowest resistance components ever used in an M18 solution. The implementation of new motor controls makes it possible to push tools harder for longer, getting more work done.
M18 Dual Bay Simultaneous Supercharger delivers up to 6x faster charging to 80% and high-speed cooling with less downtime. Users can rapidly cool M18 REDLITHIUM FORGE 8.0 and 12.0 Batteries in 90 seconds through advanced COOL-CYCLE Active Cooling Technology.
THE NEXT BREAKTHROUGH, along with numerous other trade-focused solutions launched in 2024, continues to revolutionize performance and productivity.
New Products

RINGER Roll Groover for 2" - 6" Sch 10/40

Coil Roofing Nailer

Duplex Nailer

PACKOUT 9 Gallon Dual Battery
Dust Extractor

18" Fan

1-Ton Chain Hoist
w/ ONE-KEY

Overhead Rotary Hammer w/
Integrated Dust Extraction

5" Underground Cable Cutter
w/ Wireless Remote

Dual-Trigger Deep Cut
Band Saw


Cordless System










With the launch of the MILWAUKEE MX FUEL Equipment System, we entered the multi-billion-dollar light equipment space. In 2024, we continued to challenge preconceived notions of what’s possible through battery-powered equipment. The MX FUEL Backpack High Cycle Concrete Vibrator w/ 7’ Whip / 1.75” Head delivers the most powerful, most consistent consolidation, even in the stiffest concrete. Our MX FUEL 70kg Rammer is the most productive and easiest to use, delivering the power to hit harder and travel faster without sacrificing compaction performance. Users also now have the portability to pump anywhere without the need of a generator with the MX FUEL 1HP 2” Submersible Pump.
With 25+ solutions and continuing to grow, MX FUEL is now the largest, highest performing light equipment battery system.
Cordless Systems
All MX FUEL equipment is compatible with all MX FUEL Batteries for full system compatibility. Our newest MX FUEL REDLITHIUM FORGE Batteries have doubled the runtime of the system while delivering the most powerful, fastest charging, longest life batteries we’ve ever built. Now with our patented COOL-CYCLE Active Cooling Technology, these batteries also provide high-speed cooling for less downtime on the harshest jobsites.
Technology
Highly advanced motor technology boosts efficiency, generating more power from a compact power source. That means the ultimate performance, durability, and run-time comes in a smaller, lighter package. An advanced combination of hardware and software, REDLINK Intelligence enables full-circle communication between batteries and tools, allowing for unmatched levels of performance, protection and productivity.
New Products

Backpack High Cycle Concrete
Vibrator w/ 7' Whip / 1.75" Head

Portable Battery Extension

Rapid Charger

1HP 2" Submersible Pump

14" Cut-Off Saw w/ RAPIDSTOP

70kg Rammer

ROCKET Dual Power Compact
Tower Light
Outdoor Power Equipment










MILWAUKEE provides innovative solutions that enhance productivity and safety for professionals in the outdoor trades. Our outdoor equipment, built on the M12, M18, and MX FUEL Systems, is designed to meet the rigorous demands of landscape maintenance, landscape construction, and tree care professionals. By offering full battery compatibility within each system, operators can seamlessly switch batteries between equipment, eliminating the common frustrations of gas-powered tools — such as pull starts, high noise levels, mixing gas and oil, emissions, and routine engine maintenance.
The new M18 FUEL 20” Dual Battery Chainsaw delivers 70cc power for faster cutting with reduced stalls, along with a balanced design for enhanced control. Additionally, the M18 FUEL 24” and 30” Hedge Trimmers provide the power to cut through branches up to 1-1/4” thick, making them ideal for faster trimming and aggressive cutback jobs. These tools exemplify MILWAUKEE’s commitment to delivering industry-leading solutions to this rapidly expanding category.
New Products

16" String Trimmer

Short Pole Hedge Trimmer

24" Hedge Trimmer

20" Dual Battery Chainsaw




Power Head w/ QUIK-LOK

String Trimmer w/ QUIK-LOK

Pole Saw w/ QUIK-LOK











The PACKOUT Modular Storage System is the most versatile and durable modular storage system in the industry. Now with 100+ fully interchangeable solutions, the MILWAUKEE PACKOUT Modular Storage System continues to expand to meet the professional’s tool storage, transportation, and organization needs.
In 2024, we introduced an array of additions to further enhance users’ customization options including a 15” structured tote, structured backpack, a tilt bin organizer, and 7 tool box attachments. Also expanding in 2024 was the offering of drinkware including PACKOUT Insulated Bottles and Mugs with sip lids to prevent unwanted spills, as well as PACKOUT Bottles with leakproof chug lids.
New Products

Attachments

18oz Insulated Mug
w/ Sip Lid

Insulated Bottle
w/ Chug Lid

Structured Backpack

Tilt Bin Organizer
Power Tool Accessories










MILWAUKEE is committed to providing professional users with a wide range of accessory solutions designed to enhance productivity and complement the latest advancements in MILWAUKEE power tools. Our solutions are engineered to deliver maximum life, durability and speed. We continue to lead in multiple product segments through our investment in new technologies and best-in-class manufacturing capabilities.
As a result of our leadership position in carbide technology, in 2024 we delivered groundbreaking performance in the reciprocating and circular saw blade categories. We introduced the TORCH with NITRUS CARBIDE SAWZALL Blades for Medium Metal for cutting conduit, strut, and other medium-thickness metals, providing the fastest cutting speed and longest life in key electrical trade applications. Additionally, the new Thick Kerf Framing Circular Saw Blade is designed for the most powerful circular saws with a High Performance Thick Kerf, allowing users to get the straightest rip cuts and ultimate stability in softwoods, hardwoods, lumber, and laminated woods.
Our focus on the plumbing, electrical, and remodeling industries continued in 2024 with the launch of 35+ DIAMOND MAX Hole Saws. MILWAUKEE continues to be the dominant leader in number of cuts in porcelain, tile, and stone with maximum diamond durability and retention for 20X longer life.
Finally, this year MILWAUKEE announced the next generation of SHOCKWAVE Impact Duty Carbide Hammer Drill Bits w/ POWER TIP, delivering easier drilling from start to finish. These drill bits feature a unique tip design with dynamic cutting edges and a chip breaker for ultimate material disruption. Design with sharpened carbide, they deliver up to 9X longer life and 4X faster drilling in concrete.
New Products


Thick Kerf Framing
Circular Saw Blade


Multi-Material Drill Bits

Hammer Drill Bits w/ POWER TIP
Personal Protective Equipment









MILWAUKEE is dedicated to creating personal protective equipment that addresses the real-world hazards of the jobsite. In 2024, MILWAUKEE introduced a range of BOLT Face Shields, including the BOLT Task Full Face Shield, which features the fastest attachment and removal mechanism and is rated to ANSI Z87+ and CSA Z94.3 standards, ensuring the highest level of protection in the market. Another addition, the BOLT Full Face Shield – Mirrored Dual Coat Lens, is ANSI/ISEA Z87.1 (+) – 2020-rated and equipped with a fog-free interior coating and an anti-scratch exterior hard coating, delivering longer life and superior protection.
The portfolio also expanded with BOLT Eye Visors, designed for optimal fit, seamless headlamp use, and the flexibility to replace safety glasses. These solutions are specifically engineered for BOLT Safety Helmets and Hard Hats and can be interchanged with 15+ accessories to enhance productivity without compromising safety.
Finally, the new Anti-Vibration Cut Level 4 High Dexterity Nitrile Dipped Gloves are ANSI/ISEA 105-2016 rated, protecting users’ hands from harmful vibrations while operating power tools. The gloves provide the best full-hand vibration reduction while still maintaining dexterity and comfort.
MILWAUKEE remains committed to providing solutions that help users STAY SAFE. STAY PRODUCTIVE.
New Products



Cut Level 4 High Dexterity
Nitrile Dipped Gloves


Hand Tools











In 2024, MILWAUKEE introduced the Next Generation of Tape Measures, reaffirming our commitment to providing tailored solutions for core trades across diverse applications and environments. The updated lineup — STUD, Wide Blade, Magnetic, Compact, and Auto-Lock Series — delivers enhanced performance and improved functionality.
The STUD Tape Measures remain the most durable in the industry, featuring advanced EXO360 Rip & Wear Resistant Blade Technology for unparalleled blade protection and extended lifespan. The Wide Blade Tape Measures offer an impressive 18’ of reach and 15’ of standout, ensuring the straightest and stiffest blade for precision tasks. Meanwhile, the Magnetic Tape Measures have been upgraded with a straighter, stiffer blade that stays rigid up to 12’, reducing blade rollover and improving balance and control for efficient measuring in commercial environments.
In addition to tape measures, 2024 saw the launch of several new solutions for the electrical trades, including the Multi-Nut Driver with SHOCKWAVE Impact Duty Magnetic Nut Drivers. This 6-in-1 tool provides unmatched versatility, with easy-access onboard storage to keep nut drivers organized and enable quick size changes. Complementing this, the new 5 PC 1000V Insulated Hand Tool Set introduces essential solutions for electrical work, including 1000V Insulated Pliers, Slim Tip Screwdrivers, and a Wire Stripper, all designed to meet the highest safety standards.
MILWAUKEE also introduced Demolition Screwdrivers this year, purpose-built for demanding demolition and fastening applications. These screwdrivers feature custom-machined tips for a precise fit and reduced stripping, along with laser-etched grips for enhanced control. Manufactured in the USA using best-in-class technology and USA-sourced materials, they are backed by a complete Lifetime Guarantee.
These are just a few examples of the many trade-focused hand tools MILWAUKEE unveiled in 2024, all designed to meet the evolving needs of professionals.
New Products


Tape Measures

Tape Measures

Impact Duty Magnetic Nut Drivers

Hand Tool Set

Multi-Bit Screwdriver

Multi-Bit Screwdriver

Demolition Screwdriver
(USA)



SETTING THE BAR HIGH
AS THE #1 DIY TOOL BRAND
RYOBI System
RYOBI continues to innovate and lead the way as the #1 DIY Tool Brand on the planet, allowing users to own their home with a vast array of products to tackle any job. The breadth of line, cordless convenience, and value of products, all compatible with a battery interface that has remained consistent since 1996, makes the RYOBI 18V ONE+ Cordless System the platform of choice for users from DIYers to professionals. For larger yardwork needs, the RYOBI 40V System provides over 85 solutions that deliver gas performance with cordless convenience. The RYOBI 80V System features Zero Turn Riding Mowers, Lawn Tractors and more, powered by clean, zero emission, lithium battery power.
RYOBI 18V ONE+ HP & 40V HP Brushless Tools utilize advanced technologies and superior ergonomics to deliver high-performance tools and a premium user experience like never before. RYOBI USB LITHIUM products eliminate the need for alkaline batteries by using USB Lithium Batteries to power over 30 everyday solutions. The RYOBI LINK Modular Storage System continues to grow and enables users to easily organize, access, and transport their lives with a wide variety of customizable wall and mobile storage solutions.








Cordless System













RYOBI’s expansive 18V ONE+ System features over 300 innovative products. The versatility, variety, and convenience of these tools offer a solution for every need. The 18V ONE+ lineup gives users The Power To Do More in every area, be it the home, the yard, or beyond. RYOBI cordless lithium technology powers through most applications, from drilling, cutting, fastening, and cleaning to lighting, plumbing, trimming, mowing, and clearing.
No need to worry about compatibility- RYOBI’s newest 18V ONE+ products and batteries work with all older 18V tools and batteries, all the way back to 1996. Users can buy with confidence knowing that their new purchases will fit seamlessly into their existing collection. Whether you’re on the jobsite or at home, a casual user or a seasoned DIYer, RYOBI has a solution for every user.

RYOBI 18V ONE+ HP tools feature premium brushless motors, advanced electronics, and HIGH PERFORMANCE Lithium Batteries to deliver a best-in-class user experience. These tools utilize advanced technology to deliver more power, runtime, durability, and speed. 18V ONE+ HP tools are designed with superior ergonomics without sacrificing performance. With the release of the second generation of HP products in 2025, RYOBI is positioned to continue to provide power and performance for every user from DIYers to Professionals.

New Products

AIRSTRIKE 16GA Brad Nailer

5” Random Orbit Sander

24” Hedge Trimmer

4-Mode 1/4” Hex Impact Driver

Reciprocating Saw

360° LED Light

Compact Series Tools








In 2024, RYOBI introduced the second generation of HP Compact Series core products including drilling and driving, cutting tools and brand-new expansions like the 18V ONE+ HP Compact Brushless Barrel Grip Jig Saw. These products utilize RYOBI ONE+ HP Technology to deliver more power, runtime, durability, and speed using powerful motors, advanced electronics and high-performance lithium technology while being both the lightest weight and most compact solutions in the RYOBI 18V ONE+ product lineup.

The RYOBI 18V ONE+ HP Compact Series tools are the lightest and most compact tools RYOBI offers, while still delivering the power to get the job done. With fourteen solutions over the power tool and outdoor lineups, these tools make it easy for users to complete their tasks in the tightest of spaces without compromising on performance.
New Products

Brushless 8” Pruning Chainsaw

Brushless 220 CFM Blower

Brushless 1/4” Hex Impact Driver

Brushless 1/2” Drill Driver

Brushless Barrel Grip Jig Saw
Cordless Outdoor System









RYOBI’s 40V System delivers superior runtime and performance with its lineup of over 85 innovative products. Each 40V tool is designed to deliver the performance of gas with the convenience of cordless. No more maintenance, no more cords, and no more trips to the gas station- these 40V tools outperform gas alternatives and ensure that you’re ready for all outdoor projects. Any RYOBI 40V Lithium Battery can power all your tools, from mowers to blowers, string trimmers to chainsaws, augers to snow blowers. Less maintenance means more time to achieve your goals and enjoy your lawn. RYOBI’s 40V lineup continues to lead the way in variety and versatility for every user.
New Products


High Performance Edge Battery

High Performance Edge Battery

21” Push Mower

21” Self-Propelled Mower











RYOBI’s selection of mowers across the 18V ONE+, 40V, and 80V Systems helps make it the Number One Cordless Outdoor Power Brand. No matter the system, RYOBI continues to innovate and offer a mower for every yard.
In 2024, RYOBI introduced its latest 40V lawnmower offering, the 40V HP Brushless 21” Self-Propelled Multi-Blade Mower. The brushless motor with 40V HP Technology gives this mower more power than a 170cc gas mower and the turbo mode delivers an extra boost of power to tackle the toughest conditions. The two included 40V 6Ah batteries provide up to 75 minutes of runtime. RYOBI’s CROSS CUT Multi-Blade System provides the industry’s best 3-in-1 cutting performance and SMART TREK adaptive variable speed self-propelled technology lets you set the pace while you’re mowing.
The newest addition to the 18V ONE+ family, the 18V ONE+ HP Brushless 20” Self-Propelled Mower, delivers more power than a 150cc gas mower and can get up to 40 minutes of runtime with the two included 18V 6Ah HIGH PERFORMANCE Batteries. With its dual active battery ports and self-propelled rear wheel drive, users get both ultimate power and an effortless mowing experience.
RYOBI HP WHISPER Series products are not only the most powerful line of RYOBI tools, but also the quietest. Designed to produce less noise than gas and even other battery-operated tools, these products are ideal for use in neighborhoods or areas with noise and emission restrictions. RYOBI Whisper Series provides performance and convenience without compromise.
Flagship Products

20” Self-Propelled Mower

AWD Multi-Blade Mower

Multi-Blade Mower

46” Lithium Electric Riding
Lawn Tractor

54” Lithium Electric
Zero Turn Riding Mower









RYOBI’s USB Lithium product line continues to expand its offerings of handheld portable solutions designed to replace tools usually powered by disposable alkaline batteries and traditional manual applications.
In 2024, RYOBI introduced two new recreation products to the lineup: the USB Lithium Heated Cushion and the USB Lithium VERSE Compact Speaker. The Heated Cushion has three heat settings (high, medium, and low) and lasts up to 5 hours when using the two included USB Lithium 2Ah Batteries on low.
The VERSE Compact Speaker provides studio-quality sound and has a bluetooth range of up to 250’. Stay powered with up to 6 hours of runtime using the included 2Ah battery or use the speaker’s onboard USB-C charging port for unlimited runtime. RYOBI VERSE technology allows this speaker to be paired with over 100 additional RYOBI VERSE compatible speakers, allowing users to immerse themselves in high quality sound.
One of the most versatile new tools released this year is the USB Lithium 4-IN-1 Stapler / Nailer. This compact and lightweight tool can drive four different fasteners, making it ideal for furniture upholstery, installing insulation, hanging lights and picture frames, and fastening chicken wire. It also features an integrated guideline at the nose to ensure precision and accuracy and a low staple indicator, so you know when it’s time to refill. Drive up to 600 nails/staples on one charge of a USB Lithium 3Ah Battery.
The RYOBI USB Lithium LED Magnetic Clamp Light provides powerful illumination in a durable hands-free design. Light up even the darkest area with its 1,000 lumens and three brightness modes. With its 360° rotating and 180° pivoting head, 1-1/4” magnetic clamping base, and LINK Wall Storage capability, this light can be adjusted to illuminate any environment. This light can get up to 10 hours of runtime with a USB Lithium 2Ah Battery and has an IP54 dust and water resistance rating.
New Products

4-In-1 Stapler/Nailer

Shear Shrubber

HP Compact Hand Vacuum

Heated Cushion

VERSE Compact Speaker

Magnetic Clamp Light
Modular Storage System








The RYOBI LINK Modular Storage System is essential for organization, accessibility, and mobility. With a diverse range of wall and mobile solutions, LINK offers unparalleled customization, empowering users to streamline their lives wherever they go.
From home to the jobsite and everywhere in between, LINK revolutionizes organization, providing users with versatile and durable storage solutions tailored to their needs.
The LINK Accessory Rails bring LINK to new places in the home and are ideal for use anywhere from a LINK cabinet to a workbench to a closet wall. Each rail can hold up to 15 pounds and is compatible with a variety of LINK products and accessories for endless customization.
In early 2025, RYOBI introduced the all new LINK SlotBox Organizer Kit. This brand new solution offers customizable storage with a SlotBox Receiver, a Medium Organizer, and two Low-Profile Organizers that can be secured on any LINK Wall Rail or LINK Toolbox and taken on the go for ultimate portability. Designed for accessibility, it features access from left and right sides of a tool box stack and the organizers have clear tops for easy identification of contents.
New Products



Strap Hook

Tool Organizer Cabinet

Cordless Cleaning








RYOBI offers the widest range of cordless cleaning solutions across the USB Lithium, 18V ONE+ and 40V Systems. These innovative cordless options give users the ability to replace corded, internal battery, alkaline-powered, and manual solutions with rechargeable lithium power. From vacuums to spot cleaners, scrubbers to power cleaners, RYOBI cordless cleaning products offer versatile solutions for any mess, indoors and out.
2024 saw the introduction of the USB Lithium Power Spray Mop, which features an agitating mop head for 30% faster cleaning with less effort. Clean all sealed hardwood floors with ease with the maneuverable swivel head and toss the reusable microfiber mop pad in the wash when finished to save money and reduce waste.
The RYOBI 40V HP Brushless 1200 PSI 1.0 GPM Pressure Washer offers a convenient portable option for cleaning around the house without the hassle of cords. This product is ideal for light-duty applications like washing cars, cleaning patio furniture, small sidewalks, and bricks with its 1200 PSI and 1.0 GPM. Connect it to a garden hose or use the included siphon hose to pull water from any freshwater source. Three included nozzles provide versatile cleaning options, and the lightweight design makes it a breeze to transport.
With products in each battery lineup, RYOBI continues to provide new and effective solutions for any application.
Easy-to-use and ergonomic, RYOBI has all users’ cleaning needs covered from vacuums to scrubbers, power cleaners, and more.Power through the mess without breaking a sweat.
Flagship Products

Stick Vacuum

SWIFTCLEAN Wet/Dry
Stick Vacuum

Spray Mop

SWIFTCLEAN Mid-size
Spot Cleaner

Soap Dispensing
Telescoping Scrubber

Wet/Dry Vacuum
Lifestyle & Recreation








RYOBI offers a complete lineup of lifestyle & recreation solutions designed to elevate every outdoor experience, whether it’s a campsite, the beach, or a tailgate. With a full suite of cordless lights, fans, audio solutions and more, it has never been easier to unplug with RYOBI on all of life’s adventures.
Cordless Power Stations
From USB Lithium Batteries that can top up a mobile device to power stations that replace the gas, fumes, noise, and emissions of gas generators – RYOBI has a solution for every user. Power a range of devices from laptops and cell phones to TVs and refrigerators. RYOBI offers safe and efficient alternatives to gas systems, enabling you to stay comfortable, connected, and powered no matter the situation.
Flagship Products

Power Station

LINK Bluetooth Stereo

Compact Area Light

Bucket Top Misting Fan

20” Air Cannon

LED Light

Floorcare & Cleaning








THE ORIGINAL IN CLEANING INNOVATION IS THE ONE THAT STARTED IT ALL
HOOVER continues to lead the industry in 2024, designing, developing and delivering new technology and expanding the range of products to transform every aspect of whole-home cleaning. From an increased focus on the ONEPWR cordless cleaning network to an expanded line of cleaning solutions, HOOVER delivers advanced, game-changing innovation for an ever-increasing range of cleaning needs. As the name and brand that started it all, HOOVER continues to challenge the status quo in the cleaning industry.
New Products

Pet XL Carpet Washer

Carpet & Uphostery Spot Cleaner

ALL-TERRAIN Cordless Stick
Vacuum

TANGLE GUARD Upright Vacuum

ALL-TERRAIN Upright Vacuum

HOOVER formulas are designed to help tackle all of your cleaning needs such as deep cleaning carpets, removing stains or freshening up upholstery.

Cordless Cleaning








ONEPWR: THE WORLD’S MOST ADVANCED CLEANING NETWORK
With over 20 cordless cleaning products, the HOOVER ONEPWR system of cordless cleaning products has expanded and improved more than ever in 2024. The introduction of the world’s first cordless carpet cleaner, ONEPWR SMARTWASH, has unlocked the ability to clean hard floors, spot clean, vacuum, carpet clean, and more, all with the same battery. HOOVER has “cut the cord” on whole-home cleaning without compromising the performance homeowners expect, all while offering virtually limitless runtime with batteries within the ONEPWR network.

New Products

Cordless Carpet & Upholstery
Spot Cleaner

Cordless Carpet Washer

Cordless Hard Floor Cleaner

Cordless Hand Vacuum

Cordless Vacuum

Cordless Stick Vacuum

Engineered for consistency and reliability. Clean carpets & hard floors, spot clean, vacuum, scrub and more all with the same battery.

Cordless Cleaning








This year, VAX has continued to drive innovation and success with the ONEPWR cordless cleaning range. Featuring a dynamic lineup of vacuums, spot washers, carpet washers and hard floor cleaners, the range offers exceptional versatility and convenience.
The removable, rechargeable ONEPWR battery continues to set the standard for versatility, seamlessly powering the new ONEPWR Compact Carpet Washer and the cordless SPOTWASH Home. Designed to refresh and revive tired carpets and upholstery, they also deliver exceptional stain removal along with cordless freedom.
This year also marks the launch of the new VAX HOMEPRO Range, a ONEPWR powered cordless vacuum cleaner designed entirely with customer insight and feedback at its core. Built for ultimate convenience, it offers features such as a FlexiClean pole for cleaning tight spaces and under furniture, innovative HairWrap Resist technology, hygienic bin emptying and self-stand ability.
New Products


Battery

Home Cordless

The TTI Power Equipment segment delivered sales of US$13.7 billion in 2024, an increase of 7.3% in reported currency and 7.6% in local currency.
The Floorcare and Cleaning segment improved profit by US$1.2 million versus 2023 to US$28.3 million, while reducing sales by 4.5% in local currency to US$899 million. Our innovative line of RYOBI cleaning products is our fastest growing Floorcare category and VAX also performed well in the UK and Australia, growing mid-single digits. In North America, we are focused on improving the profitability of our esteemed HOOVER, DIRT DEVIL, and ORECK brands.
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Intellectual Property
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.