Earnings release
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Trading Update Released : 30 Jan 2025 07:00 RNS Number : 1935V Strix Group PLC 30 January 2025 30 January 2025 Strix Group Plc ("Strix", the "Group" or the "Company") Trading Update Strix Group Plc (AIM:KETL), the global leader in the design, manufacture and supply of kettle safety controls andother components and devices involving water heating and temperature control, steam management and waterfiltration, is pleased to provide an update on trading for the financial year ended 31 December 2024 ("FY24"). Strix is pleased to confirm that it will report adjusted profit before tax for FY24 ahead of market consensus (as atclose on 29 January 2025) and comfortably within the previously announced range of £18m to £19m (on aconstant currency basis ("CER")). The Kettle Controls division has maintained its dominant market position and stable market share in the regulatedand less regulated markets, despite trading volatility in Q4 2024 in its key regulated end consumer markets, suchas the UK and Germany. New products launched in Q4 2024 have been well received and are gaining traction withcustomers, with the launch of the next generation of innovative controls on track to launch in H1 2025. Newproduct development by the Kettle Controls division is focused on producing solutions that can be sold acrossadditional market segments, while also increasing Strix's addressable market. As expected, Billi continues to perform well with a return to double digit growth in Q4 2024. This haspredominantly been supported by successful product launches in Australia, which are expected to launch in the UKand Europe in the first half of 2025. The division continues to execute against its geographical roll-out strategywhich is gaining traction in Europe and has secured contracts with seven distributors in Europe at the date of thisannouncement. The Consumer Goods division is slightly below the prior year (CER), as planned, following the previouslyannounced successful restructuring initiatives. Key incremental retail contracts secured for 2025 are progressingwell. In Q4 2024, Strix began manufacturing appliances for a leading global baby brand in its China factory whichcontinues, with additional products to be introduced later in 2025. The Group has actioned a number of structural improvements in the year to support the long term growthaspirations of the business with strategic hires across the finance team, Billi and business and commercialdevelopment teams. The net debt position remains a key priority for the management team. Ongoing cash conservation actions haveresulted in strong cash generation in the period, allowing the Group to maintain a year-end net debt leverage ofbelow 2x. Notice of Results The Strix management team is attending the Spring Canton Fair in mid-April and therefore, the Group expects toreport its Full Year results on 30 April 2025. This will give Strix greater clarity on market dynamics and theforward order books of its OEM partners ahead of publishing its Full Year results. 2025-01-31 14:00 Trading Update https://otp.tools.investis.com/clients/uk/strix_group_plc/rns/regulatory-story.aspx?newsid=1904957&cid=2794 1/2
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Management will be hosting a briefing for equity analysts on the day of results. For further details, please email:strix@gracechurchgroup.com For further enquiries, please contact: Strix Group Plc +44 (0) 1624 829829Mark Bartlett, CEOClare Foster, CFO Zeus (Nominated Advisor and Joint Broker) +44 (0) 20 3829 5000 Nick Cowles / Jordan Warburton (Investment Banking)Dominic King (Corporate Broking) Stifel Nicolaus Europe Limited (Joint Broker) +44 (0) 20 7710 7600Matthew Blawat / Francis North Gracechurch Group (Financial PR and IR) +44 (0) 20 4582 3500Heather Armstrong / Claire Norbury Information on Strix Founded in 1982, Isle of Man based Strix, is a global leader in the design, manufacture and supply of kettle safetycontrols and other components and devices involving water heating and temperature control, steam managementand water filtration. Strix's core product range comprises a variety of safety controls for small domestic appliances, primarily kettles.Kettle safety controls require precision engineering and intricate knowledge of material properties in order torepeatedly function correctly. Strix has built up market leading capability and know-how, expanding into complementary products andtechnologies. The Group's brands include Aqua Optima, LAICA and Billi providing our customers with marketleading water solutions on a global basis. Strix is quoted on the AIM Market of the London Stock Exchange (AIM:KETL). This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com. RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy. END TSTEANFNAFKSEFA 2025-01-31 14:00 Trading Update https://otp.tools.investis.com/clients/uk/strix_group_plc/rns/regulatory-story.aspx?newsid=1904957&cid=2794 2/2