Brookfield-based
Milwaukee Tool grew its sales 11.6% in local currency in 2024, according to a report from its parent company, Hong Kong-based
Techtronic Industries (or TTI).
That puts Milwaukee Tool’s annual revenue at about $9.9 billion based on prior disclosures.
In addition to Milwaukee Tool, Techtronic’s brand portfolio includes Ryobi, Hoover, Dirt Devil and Oreck. TTI recorded sales of $14.6 billion in 2024, growing 6.8% in local currency.
“We are extremely proud of our financial performance in 2024, which would not have been possible without the efforts of our outstanding global team," said
Horst Pudwill, chairman of TTI. "With gearing of 0.7% at year end 2024, our balance sheet is extremely healthy. In 2025, we will continue our mission of cordless domination, bringing disruptive technology and innovative design to the market, while delivering outstanding financial results.”
Halfway through 2024, TTI leaders reported that the company’s
strong sales growth was driven by “new product development, geographic expansion, commercialization, and vertical penetration.”
A boom in data center construction has also driven demand for Milwaukee Tool products.
“Our exceptional world-class team and culture is the reason for these tremendous financial results," said
Steve Richman, chief executive officer of TTI. "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. We look forward to our continued success in 2025 and beyond.”
