Engineering sustainable growth.
Spirax Group has a 56-year track record of delivering sustainable value to shareholders through economic cycles. Our knowledge and understanding of customers and markets enables us to assess where to invest for future returns. We take a long-term view and operate in a way that aims to deliver long-term value for our six stakeholder groups, whether colleagues, customers, suppliers, the environment, our local communities or shareholders in line with our Group’s Purpose. Our aim is to create a positive impact in everything we do.
Our products, solutions and expertise are critical to the operating efficiency and safety of our customers’ thermal energy and fluid technology processes. Our global direct sales force serve our customers, through building close, local relationships, with a focus on consultative, solution-selling and pricing based on customer economics.
Solving customer problems has long been at the heart of our differentiated ‘Customer Solutions’ Business Model.
Our Customer Solutions Business Model
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2,100 Direct sales and service engineers in 66 countries
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100k+ Local customers and significant installed base
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60% Sales from defensive sectors
Together across our three Businesses, as Spirax Group, our long-term ambition is to accelerate our compounding sales growth and improve margins, enhancing our proven track record of strong EPS growth.
- Proven capability to outperform IP through solution selling
- Resilience from defensive sector exposure and MRO demand
- Solution selling and value-based pricing underpins attractive margin
- Uniquely placed to lead the decarbonisation of steam generation
Long term sales growth: >2x Industrial Production growth
Sustainable margin: 23.5%+
- Clear plan to substantially improve margin through: operational focus, growth and price
- Proprietary technology and proven track record in new product development
- Differentiated bespoke manufacturing expertise
- Capabilities enable the decarbonisation opportunity
Long term sales growth: >2x Industrial Production growth
Sustainable margin: 20.0%+
- Underlying Biopharm market growing at ~10%
- Process Industries to drive secular growth above IP
- High margins supported by focus on attractive sectors and consumables sales
- Well-invested following expansion of manufacturing capacity
Long term sales growth: high single digit organic growth
Sustainable margin: 30.0%+
Across these three high-quality Businesses, we are well positioned to benefit from mega-trends which are defining the world around us. These four trends underscore our potential for growth, through the structural attractiveness of our existing end-markets and scope to expand our addressable markets.
...continuing to expand our annual addressable market.
Today our annual addressable market stands at £10.7 billion. But the size of the decarbonisation opportunity ahead of us, will increase this significantly. A focus on the electrification of steam generation, through what we refer to as TargetZero, will add a further £2.4 billion. Additionally, there is opportunity in the decarbonisation of thermal energy beyond steam. This adds a further £4.2 billion to the addressable market, taking the total to £17.3 billion.
This will continue to expand moving forward with IP-related growth, pricing, Biopharm and Semicon recoveries and our addition of new target high growth sectors.
Results, Reports and Presentations
Access our back catalogue of Results Presentations, Annual Reports, Announcements and Investor Seminars, including our most recent 2024 Half Year Results materials.
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