Techtronic Industries Co Ltd: The Tools To Win – Virtual Event Takeaways

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Techtronic Industries Co Ltd: The Tools To Win – Virtual Event Takeaways

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Techtronic Industries Co Ltd

The Tools To Win – Virtual Event

Takeaways

Reiterate Rating: BUY | PO: 118.00 HKD | Price: 116.10 HKD

Virtual event with Techtronic (CEO): key takeaways 28 May 2026

Yesterday, we hosted Techtronic (TTI) for a virtual event focusing on Milwaukee’s Equity

exposure and strategy around data centers and power verticals. The event included

Steven Richman (CEO & Executive Director), Ty Staviski (Deputy Group CFO), and Ross Michael Feniger Research Analyst

Gilardi (IR). We came a way that the structural shifts in the construction market towards BofAS

data centers & power projects plays into TTI’s ‘sweet spot’ (complex projects, safety +1michael.feniger@bofa.com646 855 1923

equipment, application-specific tools, heavy in electrical & mechanical work) and likely Sherif El-Sabbahy

underpins a potent positive mix impact (i.e., highest growth verticals are margin Research Analyst

BofAS

accretive). We sense confidence on TTI’s ability to deliver its 10% EBIT target even with sherif.el-sabbahy@bofa.com

a soft residential market (smaller portion of Milwaukee). Maintain Buy-rating. Nandita Nayar

Research Analyst

Milwaukee’s ‘sweet spot’: ~1/3rd of Milwaukee sales is tied to ‘Tech, Energy & Manuf’ BofAS

nandita.nayar@bofa.com

segment which includes high growth areas (DCs, power transmission, industrial

facilities): i) segment is growing faster than Milwaukee & margin accretive, ii) requires

complex, application-specific tools, along with higher levels of safety equipment,

accessories, lighting, hydraulics. Safety standards on DC job sites are significantly higher Stock Data

and labor constraints driving demand for productivity. We sense higher price points on