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Strattec Security (STRT) investor relations material

Strattec Security 16th Annual Midwest Ideas Conference summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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16th Annual Midwest Ideas Conference summary26 Aug, 2025

Transformation and Leadership

  • New CEO and CFO joined in the past year, refreshing the executive team and adding key roles in operations, supply chain, and commercial leadership to drive organizational change and break down silos.

  • Focused on operational excellence, cost structure optimization, and modernizing outdated processes and systems, including equipment upgrades and new information systems.

  • Reduced headcount by 15% in fiscal year 2025 with no customer impact, and right-sized headquarters.

  • Continued investment in talent, especially in operations, supply chain, and finance.

  • Ongoing product portfolio review to expand customer base and differentiate offerings.

Product Portfolio, Market Strategy, and Risk Management

  • Diverse, powertrain-agnostic product portfolio includes digital keys, power access, locksets, latches, and user interface controls, serving major North American automakers with manufacturing in the US and Mexico.

  • Key segments: security and authorization (lock/key, digital fobs), vehicle access (power liftgates, sliding doors), and user interface modules.

  • Strategic focus on growing digital key and power access businesses, while maintaining presence in user interface segment.

  • Exploring expansion beyond traditional Big Three customers, targeting broader North American and global markets, as well as heavy vehicle/off-road sectors.

  • 93% of US imports are USMCA compliant, limiting tariff exposure; active mitigation strategies in place.

Financial Performance and Operational Results

  • FY2025 revenue reached $565.1M, up 5.1% from FY2024, with Q4 sales of $152M (6% YoY growth), driven by new programs, higher demand, and strategic pricing.

  • Gross margin expanded 280 basis points for the year, with adjusted EBITDA margin at 7.7% and net income of $21M.

  • FY2025 cash from operations totaled $71.7M, with free cash flow of $64.5M and $84.6M in cash at year-end.

  • Debt reduced by $5M to $8M, with $52M available under credit lines.

  • Entered into currency hedges to manage peso exposure, with $60M of spend hedged.

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Frequently asked questions

Strattec Security Corporation designs, manufactures, and markets mechanical locks, electro-mechanical locks, latches, and related security products for the automotive industry. The company’s product offerings include keyless entry systems, steering column and door handle components, and other vehicle access control products. Strattec serves major automotive original equipment manufacturers (OEMs) and the aftermarket sector, providing both high-volume production and custom solutions tailored to specific vehicle models. In addition to its core automotive focus, Strattec also supplies products for commercial, recreational, and industrial vehicles. The company is headquartered in Milwaukee, Wisconsin, and its shares are listed on the NASDAQ.

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