Strix Share Discussion Threads

[darrin1471] 16/4/2024 22:45

Mark Bartlett, Chief Executive Officer has purchased 68,385 shares at an average price of 72.75 pence
Following this purchase, Mark Bartlett is beneficially interested in 2,745,147 Ordinary Shares representing 1.26% of the issued share capital of the Company.

KETL approaching 200ma.

[wad collector] 07/4/2024 10:23

Simon Thompson opinions in IC that Strix is a HOLD @64p FWIW, Billi might continue to outperform the kettle control products , and the EPS estimates of 9.4p for 2025 are reasonable. He last said hold in Sep at 58p, so that was about right.

[dr biotech] 04/4/2024 16:09

Thanks. :-)

[chrisdgb] 04/4/2024 15:27

Price has been pretty resolute......

[sharw] 03/4/2024 12:57

....and for Dr Biotech the Halosource answer is here:

[edmonda] 03/4/2024 11:04

Strix Group plc - Investor Presentation & Q&A (FY23 Results) - March 2024

Mark Bartlett,, CEO, and Clare Foster, CFO, of Strix Group plc (AIM: KETL) held an Investor Presentation covering their Full Year results. Management discussed the pace of recovery within Kettle Controls, the rationalisation that is ongoing within Consumer Goods, and the strong growth at Billi and Laica. They also examined their progress in paying down debt and the temporary pause in the dividend. Questions from investors were answered at the end.

Link to video:

[deanowls] 02/4/2024 17:37

Thanks. I thought the CFO was much better than the last one at communicating and understanding what was going on.

[sharw] 02/4/2024 17:13

Yes it was this afternoon. The presentation used the same slides and script as the one last week but this time had Q&A, which was the interesting bit. When it is released I think it will be here: www.equitydevelopment.co.uk/research/tag/strix-group

[deanowls] 02/4/2024 15:58

What presentation was it today?

[sharw] 02/4/2024 15:29

Dr Biotech post 1191 - "Nothing about Halosource, I guess that has been axed".

No it hasn't been axed - question answered in today's presentation. Recording will be up soon I expect.

[edmonda] 28/3/2024 11:50

Strix Group - Management interview & Investor Presentation (FY23 results)

Mark Bartlett, CEO, and Clare Foster, CFO, of Strix Group plc answered a series of questions following publication of FY23 results for the 12 months ended 31st December 2023. Subjects ranged from growth in kettle controls to the dividend and Billi, as well as the outlook for the company. The interview is available to see below.

In a separate video, the team conducted an Investor Presentation where they discussed highlights of the period, provided a Financial review, and went into detail on performance and prospects for each of the Group's business categories.

Both videos have been divided into chapters for ease of viewing:

[deanowls] 27/3/2024 14:55

Brokers note. Switched from survival, in any of their previous notes did they pitch it at a survival company?

Really needed a better outlook statement after three months of trading.

[wad collector] 27/3/2024 12:11

Odd share price response , plunged 10p on opening then crept back up almost to parity.

[lovewinshatelosses] 27/3/2024 09:42

It was, but IMO not attractive in the 60's either. Since last being a holder here, I have kept an eye out. I like this one. If we see low 50's, might be tempted back for a trade, but I really wanted to have seen debt further reduced in this update. And some meaty director purchases shortly too, naturally. GLA.

[dr biotech] 27/3/2024 08:45

Axing the dividend is the right thing to do in the circumstances, but its always going to hit the share price Increasing the covenant to 2.75 is sensible and that should ease fears of breaking them. Results pretty much inline, no further deterioration of trading but no rapid comeback either.

Nothing about Halosource, I guess that has been axed

[edmonda] 27/3/2024 08:10

"Billi drives top line growth" (FY23 results)

Positives emerged, particularly in H2, as the recovery commenced within the kettle controls market.

Billi was the architect of the revenue improvement, with LAICA also delivering a double-digit increase in the top line. Margins improved, notwithstanding a change in the mix.

Encouragingly, investor concerns on debt were allayed with the careful management of cash, and latterly as bankers raised the net debt/EBITDA covenant to 2.75x. With further emphasis on costs and cash conservation and a likelihood that its markets will begin to deliver more meaningful recovery in H2, none of this good news looks factored into the current valuation.

The focus is shifting from survival to recovery and as such, we increase our fair value / share to 173p (149p).

Link to research report:

[masurenguy] 08/2/2024 08:24

Liberum: Debt reduction at Strix improves valuation discount
Liberum has reduced the valuation discount to peers that it placed on kettle component maker Strix (KETL) after stronger-than-expected debt reduction.

Analyst Edward Maravanyika retained his ‘buy’ recommendation and target price of 100p on the stock, which was trading sideways at 66.8p on Wednesday after a full-year 2023 trading update highlighted stronger than expected net debt reduction, with the leverage multiple falling within the year-end bank covenant limit. "The kettle controls market is still trading 20% below 2021 level as the recovery of this market is now slower than previously anticipated. Consequently, the company stated that full-year profit after tax came in modestly below previous expectations." he said. With the balance sheet improved, Maravanyika reduced the valuation discount to the peer group, ‘helping to offset the impact of cutting estimates’.

[stevenlondon3] 25/1/2024 08:32

Weak demand and the group is reducing its debt....both expected. Look as if it will get through to hopefully better times. It is now at its most vulnerable from an opportunistic bid which provides some support.

[pottsypotts] 25/1/2024 08:12

A very optimistic report with their " fair value" of 149p Can't see that myself anytime soon but who knows

[wad collector] 25/1/2024 08:08

Trouble is for the share price that this is an unforgiving market. The word "challenging" costs the share price about 5% even when the word "despite" came before it...

[chrisdgb] 25/1/2024 07:49

As the Dr highlights about in line.......focus on those long term strategic goals previously announced.

[edmonda] 25/1/2024 07:33

"Strong H2 cash flow" - new research report here:

There are several encouraging messages which jump out from Strix’s trading update released today, led crucially by the strong cash generation during H2. This has enabled the Group to come in below the year end banking covenant test, thereby removing significant risk from the rating. In addition, the strong performance of Billi and LAICA has largely offset the slower than expected recovery within the regulated kettle controls market, resulting in FY23 numbers modestly below expectations at the adj. EPS level.

With significant scope for recovery in its key market and the focus switching to the most profitable areas, we expect a marked uplift in profitability and its share rating over the medium term.

[pottsypotts] 25/1/2024 07:24

Suppose 20 percent lower than 2021 and slowly recovering at least no shocksWhat the market will think is another thing