Strix Group (KETL) H1 2025 TU earnings summary

Executive summary

• Billi and Consumer Goods divisions achieved growth in line with expectations for H1 2025, while Controls division faced pressure in Q2 due to geopolitical and macroeconomic uncertainties.

• Market-leading position maintained, with trading volumes expected to return to typical H2 weighting.

• Continued focus on cost management, debt reduction, and investment to support medium-term growth strategy.

Financial highlights

• Billi maintained double-digit growth rates, with strong sales in Europe, Southeast Asia, and Australia.

• Consumer Goods division returned to solid growth after a successful 2024 restructure.

• Net debt increased during the period due to seasonality and lower Q2 Controls division volumes; FY24 net debt/EBITDA was 1.87x.

Outlook and guidance

• Trading volumes expected to recover in H2, consistent with historical trends.

• Management aims to return net debt to within 1.0-2.0x range as soon as possible.

• Competitive refinancing process initiated to support medium-term investment-driven growth.