Strix Group

KETL · AIM · Industrial Goods and Services · mcap £64m · 32.0p 1 open situation →

EV: £45.9m
EV / EBIT: 16.4x
Net cash: £38.7m
FCF yield: 14.4%
Revenue: £82.4m
Cash returned: 3.2%
Share price 1y: −7%
Insiders 12m: sold £3k
Next report: around 3 Aug

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.

Timeline · every situation

dots = announcements

20252026 Cost optimisation programme CEO succession Tender offer and buyback programme Accelerated debt reduction Billi disposal Results ahead of expectations 1 director buying

Open · 1

Turnaround plan with targets

Cost optimisation programme

On track to beat £2.0m target

After the Billi sale, announced 9 March 2026, the Group started a cost optimisation programme to rightsize the business to demand and free money for growth investment. It targets c.£2m gross annualised savings, before investments, over 18 months, with early results already reported.

Target: c.£2 million gross annualised savings, before investments
Timeframe: Over the next 18 months
Rationale: Rightsize business to match demand and streamline spending to invest in growth

Next: report delivery of savings above £2.0m target

4 Aug 2026 On track to beat £2.0m target
9 Mar 2026 Commenced; initial savings starting

Open the full view – chart and every step →

Closed · 6

New CEO / resetCEO succession New CEO in post since 13 July 2026 · 26 Nov 2025 – 4 Aug 2026 Capital returnTender offer and buyback programme paid out · 30 Jan 2026 – 7 May 2026 −24% Balance-sheet stress / refinancingAccelerated debt reduction Debt repaid; net cash; inventory target met · 26 Nov 2025 – 9 Mar 2026 Disposal of a part (break-up)Billi disposal Completed 30 January 2026; proceeds received · 19 Dec 2025 – 30 Jan 2026 Upgrade / downgrade cycleResults ahead of expectations ahead of expectations · second in 12 months · 30 Jan 2025 – 29 Jul 2025 −8% Insider conviction1 director buying £50k in 1 buy · 16 Apr 2024 – 15 Jul 2024 −12%

Company filings. Not investment advice.