Strix Group
KETL · AIM · Industrial Goods and Services · mcap £65m · 32.1p
Strix designs and makes safety and temperature controls for kettles and other appliances, plus water filtration and consumer products such as LAICA. Until 2026 it also owned Billi, an Australian maker of premium boiling and chilled water taps.
| Date | Type | Announcement | Day |
|---|---|---|---|
| 04 Aug 26 | Results | Final Results
Strix reports 15-month results with revenue up 6.2% to £153.2m; Billi disposal completed generating £102m net proceeds. |
+0.0% |
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within forecast range expectations Revenue £153.2m (£144.2m)Adjusted EBITDA £28.4m (£35.1m)Adjusted profit before tax £10.1m (£18.0m)Net cash £38.7m ((£63.7m))Net debt leverage 1.88xDiluted EPS (adjusted) 2.8p (6.5p)
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| 09 Jul 26 | Share Buyback Programme Update & Notice of Results
Strix pauses share buyback programme following Billi disposal and appointment of new CEO. |
−3.5% | |
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Share buyback programme £10mTender Offer completed £10mShares purchased to date 8,930,325 ordinary sharesAggregate consideration paid c.£3.7mAverage price per share c.41.2 pence
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| 11 Jun 26 | Board change | Appointment of CEO
Andy Rainforth appointed Chief Executive Officer, effective 13 July 2026. |
+2.1% |
| 07 May 26 | Trading update | Trading Update and Capital Return
FY26 revenue c.£150m and adjusted PBT £9.8m-£10.2m confirmed; £10m tender offer completed; CEO transition underway. |
+2.3% |
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Revenue c.£150mAdjusted PBT £9.8m to £10.2mTender offer returned £10mShares bought back (to 9 April 2026) 8,357,417 sharesBuyback cost to date c.£3.4mAverage buyback price c.41.2 pence per share
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| 05 May 26 | Results | Results of Tender Offer and Total Voting Rights
Tender offer completed with 23.3 million shares purchased for £10 million at 43 pence per share. |
+3.4% |
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Shares tendered 55,858,780Shares purchased 23,255,813Tender price 43 penceTotal consideration £10 millionPercentage of issued capital 10.1%Total voting rights 198,314,320
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| 30 Apr 26 | Result of General Meeting
Shareholders approved tender offer resolution with 99.37% in favour at general meeting. |
+2.1% | |
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Votes for Tender Offer Resolution 61,112,143Votes for (%) 99.37%Votes against (%) 0.63%Votes cast as % of issued share capital 26.75%
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| 09 Apr 26 | Proposed Tender Offer
Strix launches tender offer to return up to £10 million to shareholders at 43 pence per share. |
+3.7% | |
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Capital return up to £10 millionTender price 43 pence per sharePremium to closing price 10.5%Closing share price (8 April 2026) 38.9 penceNet cash position post-Billi disposal c.£35 millionBilli disposal proceeds (net) c.£105 million
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| 09 Mar 26 | Trading update | Review of the Last Six Months & Trading Update
FY26 revenue guided to £150m with adjusted PBT £9.8-10.2m; Billi disposal completed generating £105m proceeds and £35m net cash. |
−8.3% |
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FY26 Revenue guidance c.£150 millionFY26 Adjusted PBT guidance £9.8-10.2 millionBilli disposal proceeds c.£105 millionNet cash position post-disposal c.£35 millionNet interest costs FY25 c.£7.5 millionShare buyback to date £1.5 million
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| 17 Feb 26 | Board change | Directorate Change
Chief Commercial Officer Rachel Pallett to step down on 31 March 2026 to pursue new opportunities. |
−0.6% |
| 04 Feb 26 | Share Buyback Programme
Strix commences share buyback programme of up to £10 million with Zeus Capital and Stifel. |
+0.5% | |
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Maximum buyback consideration £10 million
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| 30 Jan 26 | Completion of the Disposal of Billi
Strix completed sale of Billi business for approximately £105 million net proceeds, leaving net cash of c.£35 million. |
−0.2% | |
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Net proceeds from Disposal £105mNet cash on completion c.£35mShare buyback programme £10m
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| 19 Dec 25 | Proposed Disposal of Billi for £110.0 million
Strix to sell Billi business for £110.0 million, achieving 3x return on original investment. |
+13.4% | |
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Consideration £110.0 millionEnterprise value per share 47.8 penceOriginal acquisition cost c.£38 millionBilli expected revenue (12 months to 31 Dec 2025) c.£47 millionBilli adjusted EBITDA (12 months to 31 Dec 2025) c.£10 millionExpected net debt at completion c.£68 million
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| 26 Nov 25 | Trading update | Trading update and management change
Group reports revenue of £64.6m for six months to September 2025, with net debt of £70.3m and CEO stepping down in May 2026. |
−3.2% |
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broadly in line expectations Revenue £64.6mNet debt £70.3mNet debt leverage 2.5xPlanned inventory reduction c.£8mDebtor balance reduction c.£2m
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| 30 Sep 25 | Results | Half-year Results
H125 revenue down 6.4% to £61.9m; Billi and Consumer Goods grew, but Controls down 24.2% due to tariffs and macro headwinds. |
−13.0% |
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Adjusted revenue £61.9m (£66.1m)Gross profit margin 36.3% (39.9%)Adjusted EBITDA £13.9m (£16.7m)Adjusted PBT £6.2m (£7.8m)Net debt £68.8m (£63.7m)Net debt leverage 2.21x (1.87x)
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| 23 Sep 25 | Investor Presentation with Equity Development
Strix Group to host investor presentation on interim results for six months to 30 June 2025. |
+6.4% | |
| 30 Jul 25 | Trading update | Trading Update
H1 2025 saw Billi and Consumer Goods grow as expected, but Controls division pressured by geopolitical and macroeconomic headwinds. |
−5.0% |
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Billi and Consumer Goods in line with expectations; Controls under pressure expectations Direct US sales (Controls division) c. £7.0mNet debt (FY24) 1.87xTarget net debt range 1.0-2.0xBilli term loan repayment (annualised) £14.0mBilli term loan final repayment November 2025
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| 10 Jul 25 | Board change | AGM Statement and Board Appointment
Chief Commercial Officer Rachel Pallett appointed to the Board with effect from 10 July 2025. |
−1.6% |
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Adjusted revenues (year ended 31 December 2024) £145.7m at CERAdjusted profit before tax (year ended 31 December 2024) £18.7mNet debt (year ended 31 December 2024) £63.7m
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| 08 May 25 | Investor Event at Strix's Billi showroom
Strix hosting investor drinks reception at Billi showroom during Clerkenwell Design Week on 22 May. |
+0.9% | |
| 30 Apr 25 | Results | Final Results, Annual Report and Notice of AGM
FY24 revenue up 1.3% to £145.7m; adjusted PBT £18.7m ahead of consensus; net debt reduced £20m to £63.7m. |
+9.5% |
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ahead of market consensus expectations Adjusted revenue £145.7m (£143.8m)Adjusted profit before tax £18.7m (£22.3m)Net debt £63.7m (£83.7m)Net debt leverage 1.87x (2.19x)Diluted EPS (adjusted) 6.7p (9.2p)Billi revenue (Q424) 30.3% of Group revenue
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| 30 Jan 25 | Trading update | Trading Update
FY24 adjusted profit before tax ahead of consensus within £18m-£19m range; Kettle Controls stable, Billi double-digit growth, Consumer Goods restructuring complete. |
+4.5% |
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ahead expectations Adjusted profit before tax FY24 (CER) £18m to £19mNet debt leverage year-end below 2x
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| 29 Nov 24 | Investor Event
Strix Group to present at Shares/AJ Bell Investor Evening in London on 4 December 2024. |
−0.7% | |
| 27 Nov 24 | Trading update | Trading Update
Trading pressures in Q3-Q4 2024 in regulated markets offset by Billi growth; FY24 adjusted PBT guided to £18-19m. |
−11.3% |
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FY24 adjusted profit before tax guidance £18m to £19mNet debt leverage c. 2x
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| 15 Oct 24 | 3 Billion Kettle Controls Manufactured
Strix announces it has manufactured 3 billion kettle controls globally since inception. |
−0.5% | |
| 18 Sep 24 | Results | Half-year Results
Adjusted revenue up 3.5% to £67.2m, profit before tax up 15.9% to £8.0m, net debt leverage reduced to 1.76x. |
−8.1% |
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on track to report results for FY24 in line with market expectations expectations Adjusted Revenue £67.2m (£64.9m)Adjusted Gross Profit Margin 40.0% (36.8%)Adjusted EBITDA £16.9m (£15.6m)Adjusted Profit Before Tax £8.0m (£6.9m)Net Debt Leverage 1.76x (2.66x)Diluted EPS 2.9p (2.7p)
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| 21 Aug 24 | Equity Development Investor Presentation
Strix to host investor presentation on interim results for six months to 30 June 2024 on 23 September 2024. |
+1.2% | |
| 25 Jul 24 | Trading update | Pre-Close Trading Update
H1 2024 on track; net debt leverage cut to below 2.0x ahead of schedule; Kettle Controls markets showing recovery signs. |
+0.7% |
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adjusted profit before tax in line with expectations; cash generation ahead of expectations expectations Net debt leverage comfortably less than 2.0xNet debt leverage target 1.5xPremium Filtration Systems H1 growth single-digitEquity placing 5%
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| 18 Jul 24 | LAICA’s 50-Year Celebration
LAICA, a Strix Group portfolio brand, marks its 50th anniversary since establishment in Italy in 1974. |
−0.1% | |
| 20 Jun 24 | AGM Statement
CEO confirms FY2024 profit in line with expectations and ahead-of-schedule deleveraging following equity placing. |
+1.3% | |
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in line expectations Profit before tax (FY2024) in line with market expectationsNet debt leverage target less than 2.0xNet debt leverage target (end FY2025) 1.5xMedium-term leverage range 1.0x to 2.0x
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| 12 Jun 24 | Results | Results of Placing
Strix placed 10.9m shares at 80p per share, raising £8.7m gross proceeds. |
+9.3% |
|
Placing Shares 10,935,700Price per share 80 penceGross proceeds £8.7mPercentage of issued share capital c.5.0%Post-admission issued ordinary shares 229,859,938
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| 11 Jun 24 | Fundraise | Proposed Placing via accelerated bookbuild
Strix announces £8.7m equity placing of 10.9m shares at 80 pence per share via accelerated bookbuild. |
+0.0% |
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Placing shares issued 10,935,700Placing price per share 80 penceGross proceeds £8.7mDiscount to closing price nilExpected FY 2024 net debt leverage less than 2.0x
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| 17 May 24 | Results | Annual Report and Notice of Annual General Meeting
Annual Report for year ended 31 December 2023 published; AGM scheduled for 20 June 2024. |
+0.9% |
| 25 Apr 24 | Exercise and Grant of Options and Issue of Equity
Strix issued 209,890 shares from exercised options and granted 1,940,812 new options to employees and directors. |
−2.5% | |
|
New ordinary shares issued 209,890Options granted 1,940,812Options granted to directors 987,713Total issued share capital 218,924,238Total options in issue 5,320,571Options as % of issued share capital 2.4%
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| 02 Apr 24 | Board change | Confirmation of CFO start date
Clare Foster formally joined the Board as CFO on 2 April 2024 after joining the Group on 1 February 2024. |
−3.9% |
| 27 Mar 24 | Results | Replacement-Results for the year ended 31 Dec 2023
Revenue up 35% to £144.6m driven by Billi acquisition; dividend suspended in 2024 to reduce debt. |
−0.6% |
|
Revenue £144.6m (£106.9m)Adjusted EBITDA margin 27.3% (30.0%)Operating profit £32.1m (£25.9m)Net debt £83.7m (£87.4m)Adjusted profit after tax £20.1m (£23.0m)Total dividend per share 0.9p (6.0p)
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| 27 Mar 24 | Results | Results for the year ended 31 December 2023
Revenue up 35% to £144.6m driven by Billi acquisition; profit after tax down 13%; dividend suspended in 2024. |
−0.6% |
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Revenue £144.6m (£106.9m)Gross profit £57.2m (£41.5m)Adjusted EBITDA margin 27.3% (30.0%)Profit after tax £20.1m (£23.0m)Net debt £83.7m (£87.4m)Basic EPS 7.4p (8.0p)
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| 08 Mar 24 | Equity Development Investor Presentation
Strix Group to host investor presentation on preliminary results for year ended 31 December 2023. |
−1.2% | |
| 25 Jan 24 | Trading update | Pre-Close Trading Update and CFO Appointment
Adjusted profit of £20.6m despite subdued kettle controls demand; CFO appointment announced. |
−4.3% |
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Adjusted profit after tax (constant currency) £20.6mAdjusted profit after tax (reported) £20.1mYear-end net debt £83.7mNet debt to EBITDA 2.15xDebt service coverage ratio 1.15x
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| 27 Oct 23 | Corporate Update
CFO Raudres Wong retires after twelve years; leverage covenant relaxed to 2.5x; interim dividend 0.9p per share. |
+0.7% | |
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Interim dividend per share 0.9p (2.75p)Leverage ratio covenant 2.5xTarget leverage ratio below 1.5x
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Company filings. Not investment advice.