the brighter China outlook simply has not been reflected here...... |
By the Spring even LOL |
I would still be amazed if this is still independent by the end of the year... |
If todays rise holds have we finally broken the downtrend, I hope so |
Agreed, a nice close, one for the technical purists….! |
Couple of big what look like sells printedBut guess someone's bought !Seemingly now trying to break higher |
Market likes it too! Though 105p target looks a bit optimistic at the moment.... |
A positive end to the year bodes well - new research report:
In the latest trading update from Strix Group management has reported that it remains comfortably within the previous guidance for FY24 of £18m-£19m at constant exchange rates (CER) and ahead of consensus estimates. December proved better than initially anticipated, which followed a challenging period from the start of Q3, particularly in its higher margin regulated kettle control markets in the UK and Germany. Q4 benefitted from a combination of product launches / new contracts within all three divisions, with demand from OEMs higher during December.
We have accordingly increased revenue and adj. PBT expectations for FY24 by 1% and 4.5% respectively, with estimates for FY25 raised by 1.5% at the adj. PBT level. We have consequently increased our fair value / share to 105p (previously 102p). |
 Trading Update
Strix Group Plc is pleased to provide an update on trading for the financial y/e 31 December 2024.
Strix is pleased to confirm that it will report adjusted profit before tax for FY24 ahead of market consensus (as at close on 29 January 2025) and comfortably within the previously announced range of £18m to £19m (on a constant currency basis ("CER")).
The Kettle Controls division has maintained its dominant market position and stable market share in the regulated and less regulated markets, despite trading volatility in Q4 2024 in its key regulated end consumer markets, such as the UK and Germany. New products launched in Q4 2024 have been well received and are gaining traction with customers, with the launch of the next generation of innovative controls on track to launch in H1 2025. New product development by the Kettle Controls division is focused on producing solutions that can be sold across additional 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 has predominantly been supported by successful product launches in Australia, which are expected to launch in the UK and Europe in the first half of 2025. The division continues to execute against its geographical roll-out strategy which is gaining traction in Europe and has secured contracts with seven distributors in Europe at the date of this announcement.
The Consumer Goods division is slightly below the prior year (CER), as planned, following the previously announced successful restructuring initiatives. Key incremental retail contracts secured for 2025 are progressing well. In Q4 2024, Strix began manufacturing appliances for a leading global baby brand in its China factory which continues, 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 growth aspirations of the business with strategic hires across the finance team, Billi and business and commercial development teams.
The net debt position remains a key priority for the management team. Ongoing cash conservation actions have resulted in strong cash generation in the period, allowing the Group to maintain a year-end net debt leverage of below 2x.
The Strix management team is attending the Spring Canton Fair in mid-April and therefore, the Group expects to report its Full Year results on 30 April 2025. This will give Strix greater clarity on market dynamics and the forward order books of its OEM partners ahead of publishing its Full Year results. |
Things turning for the better ? |
Putting in a floor I would say........ |
I believe both businesses are great, they just don’t overlap.
The ceo seems to accept mediocrity after the last cfo, however the current situation ne seems to have a grip and I believe it will start to turn.
Would love to see a few director buys and will kit add until that happens. |
I hope they re-think their strategy, put their focus back on their core strengths around engineering kettle controls for B2B2C markets.
Exit other businesses where they have entered a highly competitive pool through various acquisitions. Very difficult to build a B2C brand and that's also not their core strengths.
Also, critically review Bili, if they can't engineer a reliable smart tap then exit that market as well. That's the only material differentiation they can offer in the smart tap market, otherwise, again they will be competing with an average product in a crowded market. |
I’m absolutely sure the CEO has not been short selling. |
Any particular reason directors are not mopping up shares ?Hhhmm.Agree about previous post on getting shot of CEO - presided over total disaster |
This is in the 90% club from its admittedly overvalued peak. Whilst clearly not entirely the managements fault I think a new CEO wouldn't hurt.
That new cylindical kettle/thermos looks interesting. |
slightly awkward gags...! |
hxxps://www.sharesmagazine.co.uk/video/strix-group-ketl-mark-bartlett-ceo-2
Apologies if already posted but didn't see it had been. Interesting watch. |
Surely a sitting duck at 50p................ |
As predicted 8 days agoOur Spanish investor has indeed materially increased |
It's strange that the mgmt. keeps saying that the kettle control market hasn't recovered to pre-covid levels, but the market research reports I am seeing all say that the market has been growing. This is very strange. First time, I see something that makes me doubt the mgmt.
hxxps://www.statista.com/outlook/cmo/household-appliances/small-appliances/electric-kettles/worldwide#revenue |
whilst waiting for this update they promised I was a little anxious but thankfully not toooo bad.
I'm still good with this stock and optimistic for 25. Still market leader, strong cash generator, divs will return, no debt issues, billi acquisition promises, next gen / new products coming into play. Not sure the China market will move needless much but might help leverage that factory asset to squeeze a bit more margin out the entire piece. Perhaps too optimistic in guidance for a while now. credibility maybe a factor in current price, luckily still a solid business model underpinning. Might top up! |
LolIt's barely lower |
Another all time low. I know that they can't control the macro conditions, but they got themselves into too much debt and the chinese manufacturing base doesn't look like such a great idea now.
Given the somewhat muted reaction today and the continual fall over the last few months this was widely expected by some. |
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