JOHNSON ELEC H (00179) issues profit warning, expects interim profit attributable to shareholders of US$50 million to US$58 million, a year-on-year decrease of 56% to 62%.

JOHNSON ELEC H (00179) has issued an announcement. Based on the Group's preliminary assessment of the unaudited consolidated management accounts for the six months ended September 30, 2026, Johnson Electric expects total revenue to be broadly in line with the figure reported for the same period last year. However, profit attributable to shareholders for the period is currently expected to be between US$50 million and US$58 million, representing a decrease of approximately US$75 million to US$83 million, or 56% to 62%, compared with the net profit of US$133 million reported for the same period last year. This performance is mainly affected by a number of factors. The Group's sales and costs are denominated in multiple currencies, and it is therefore exposed to foreign exchange risk. A substantial portion of the decrease in net profit compared with the same period last year is due to foreign exchange-related effects. Considerable foreign exchange gains were recorded in the same period last year, while no equivalent gains were recorded for the six months ended September 30, 2026. The overall foreign exchange-related impact across the two periods is estimated to have reduced net profit by approximately US$49 million to US$55 million compared with the same period last year.