CROSBY Research – Johnson Electric (179 HK/ NR): FY25 results showed resilience amid challenges

29 May 2025

During the period under review, Johnson Electric (JE) faced mounting challenges across its key downstream markets. These difficulties stemmed from a decline in automobile production, heightened price competition in several consumer and industrial segments, and weakened consumer confidence amid growing uncertainty surrounding global economic prospects-particularly in cross border trade. JE’s FY25 turnover amounted to USD3.6bn, representing a YoY decrease of 4.4%. Net profit increased by 14.7% YoY to USD262.8m in FY25.