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Strix Group (KETL) investor relations material
Strix Group Trading Update summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Trading Update summary26 Nov, 2025
Trading performance and market conditions
Revenue reached £64.6m for the six months ended 30 September 2025, with net debt at £70.3m and net debt leverage at 2.5x.
Macroeconomic and geopolitical headwinds, including tariffs and a weak US dollar, slowed the Controls division in Q2, but conditions began to stabilize in Q3 with early signs of improvement in Q4.
Billi division delivered double-digit growth and expanded its customer base, with a new HQ and manufacturing facility in Australia now operational.
Consumer Goods division returned to growth post-restructuring, launching new products and strengthening its competitive position.
Trading is broadly in line with market expectations for the period ending 31 March 2026, assuming recent improvements continue.
Debt reduction and financial strategy
Accelerated debt reduction actions included restructuring China production to cut inventory by £8m and extending non-recourse debt factoring in Italy, reducing debtor balances by £2m.
Final dividend for FY24 was cancelled to support debt reduction.
Final Billi acquisition loan repayment will be made in November 2025, ending £14m annual amortisation and freeing funds to reduce RCF borrowing.
Target set to reduce net debt leverage to approximately 1.5x within 12-18 months.
Ongoing focus on cash generation, operational efficiency, and stakeholder value enhancement.
Management change
CEO Mark Bartlett will step down by mutual agreement effective 29 May 2026, after nearly 20 years with the company.
Recruitment for a new CEO is underway, led by Chairman Gary Lamb.
Board expressed appreciation for Mark Bartlett's long-term contribution.
Impact of Billi loan repayment on RCF reduction
Effectiveness of new controls against copyists
Outlook for slower South Africa, Turkey, US markets
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Next Strix Group earnings date
H2 202530 Apr, 2026
Next Strix Group earnings date
H2 202530 Apr, 2026
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Frequently asked questions
Strix Group PLC is a company based in the Isle of Man, specializing in the design, manufacture, and supply of kettle safety controls, alongside other components and devices related to water heating, temperature control, steam management, water filtration, and small household appliances aimed at enhancing personal health and wellness. The company operates through three main segments: kettle controls, water category, and appliances, offering solutions to improve water quality and promote sustainable living. Strix's notable brands include Aqua Optima, LAICA, astrea, and Billi, catering to a wide range of needs from water filtration to health and wellness products. The company is headquartered in the Isle of Man, and its shares are listed on the London Stock Exchange.
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