Strix Group (KETL) Trading Update summary

Financial performance

• Adjusted profit before tax for FY24 expected ahead of market consensus and within £18m–£19m range on a constant currency basis.

• Strong cash generation led to year-end net debt leverage below 2x, reflecting effective cash conservation.

Divisional highlights

• Kettle Controls division maintained dominant market position and stable share despite Q4 volatility in key markets.

• Billi division returned to double-digit growth in Q4, driven by successful product launches in Australia and expansion into Europe.

• Consumer Goods division slightly below prior year as planned, with new retail contracts and manufacturing for a global baby brand underway.

Strategic initiatives and outlook

• Structural improvements include strategic hires across finance, Billi, and commercial development teams to support long-term growth.

• New product launches in Q4 2024 gaining traction; next generation controls set for H1 2025 launch.

• Billi's European rollout progressing, with contracts secured with seven distributors.

• Full year results to be reported on 30 April 2025, after the Spring Canton Fair for enhanced market clarity.