STRIX Group Business Model Canvas
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STRIX Group Business Model Canvas: Strategic Blueprint for Investors & Founders
Explore the strategic logic behind STRIX Group's business model-this concise Business Model Canvas shows how the company delivers value through safety-critical kettle controls, appliance components, and Aqua Optima products, builds scale through key partnerships, and converts engineering expertise into revenue; ideal for investors, consultants, and founders seeking clear, actionable insight-download the full Word and Excel package to benchmark, adapt, and apply STRIX's proven approach.
Partnerships
Strategic OEM Alliances
Strix holds long-term OEM partnerships with major appliance makers, making it the primary safety-control supplier for roughly 65% of global electric kettle volume and securing ~£120m in annual OEM revenue by 2025.
Since 2023 these alliances expanded into co-development, funding joint R&D for smart-appliance controls that target a 15% reduction in energy use and aim to capture new IoT-enabled appliance segments by 2026.
Retail and Distribution Networks
Strix partners with global retailers like Tesco and Home Depot and specialist distributors across 45+ countries to place Aqua Optima and Billi products on shelves and online, leveraging their logistics to reach 3.2 million households in 2024.
Raw Material and Component Suppliers
Strix depends on a global supplier base for high-grade polymers, copper and silver for its precision safety controls, sourcing from 12 primary vendors across UK, EU and APAC to cut delivery risk.
To curb commodity volatility and geopolitical exposure Strix maintains multi-sourcing; hedging and long-term contracts reduced input cost swings by ~9% in 2024.
By late 2025 Strix prioritised suppliers meeting ESG benchmarks (30% of spend on certified vendors by Q4 2025) to align with rising sustainability standards.
Technology and IoT Integration Partners
Strix partners with software developers and IoT platform providers to build smart kettles and water systems controllable via mobile apps, capturing growing demand-global smart appliance revenue hit $86.7bn in 2024 (Statista) and smart kitchen devices grew 14% YoY.
These integrations defend margins versus low-cost rivals by adding subscription services and feature differentiation that can raise ASPs by 10-20% and increase customer lifetime value.
- 2024 smart appliance market: $86.7bn
- Smart kitchen growth: +14% YoY (2024)
- ASP uplift from smart features: +10-20%
- Monetization: app subscriptions, firmware updates
Regulatory and Safety Certification Bodies
Strix partners with UL, CE, and China Compulsory Certification (CCC), ensuring components typically exceed required safety margins by 15-30% and keeping product failure rates below 0.2% annually, which supports premium pricing and low warranty costs.
Ongoing engagement lets Strix forecast regulatory shifts-reducing compliance lead time from 9 to 4 months since 2022-and align R&D spend (≈3.8% of revenue in 2024) to the roadmap.
- Partners: UL, CE, CCC
- Failure rate: <0.2% pa
- Safety margin: +15-30%
- Compliance lead time: 9→4 months
- R&D spend: 3.8% of revenue (2024)
Strix dominates kettle OEMs (~65%, £120m), cuts energy 15%, reaches 3.2M homes
Strix secures ~65% share of global kettle OEMs, generating ~£120m OEM revenue in 2025, while co-developing smart controls to cut energy use 15% and enter IoT segments by 2026; retail/distribution reach hit 3.2M households in 2024. Multi-sourcing from 12 vendors, hedging cut input volatility 9% in 2024, and 30% of spend hit ESG-certified suppliers by Q4 2025.
| Metric | Value |
|---|---|
| OEM share | ~65% |
| OEM rev (2025) | £120m |
| Households (2024) | 3.2M |
| Suppliers | 12 |
| Input volatility cut (2024) | ~9% |
| ESG spend (Q4 2025) | 30% |
What is included in the product
Detailed Word Document
A concise, investor-ready Business Model Canvas for STRIX Group detailing customer segments, value propositions, channels, revenue streams, key resources, partners, activities, cost structure, and full narrative insights aligned with real-world operations and strategic advantages.
Customizable Excel Spreadsheet
Clear one-page Business Model Canvas for STRIX Group that condenses strategy into editable cells, saving hours of setup and enabling fast comparisons, team collaboration, and board-ready summaries.
Activities
Research and Development Innovation
Strix invests ~£18m annually in R&D (2024 statement) to sustain 3,200+ global patents and lead safety-control tech; in 2025 R&D targets 12-18% efficiency gains in heating elements and rollout of two advanced water – purification modules, preserving technological edge and supporting a 20-30% premium pricing band versus commodity competitors.
High-Precision Automated Manufacturing
STRIX runs automated, high-precision plants in China and the Isle of Man, producing safety controls at scale with near-zero defect rates (reported defect <0.1% in 2024), enabling gross margins ~38% in 2024 despite component-price pressure; automation cuts labor content by ~60% versus manual lines, keeping unit cost stable in a competitive global market.
Quality Assurance and Rigorous Testing
Every Strix component undergoes stringent testing to survive 10,000+ operation cycles, a quality standard that keeps Strix the preferred OEM supplier and supports annual repeat-buys worth over $120m (2024 sales context). In 2025 Strix added AI-driven visual inspection, cutting false-rejects by 35% and raising defect-detection to 99.3%, tightening QA and lowering warranty returns.
Global Supply Chain Management
Managing logistics for shipping millions of components from Asian hubs to global appliance plants is core; Strix cut average lead times to 18 days in 2024 and reduced inbound freight costs by 9% year-on-year.
Strix also targets a 30% reduction in distribution CO2 per unit by 2028, using modal shifts and consolidated shipments to smooth trade volatility and freight-rate swings.
- 18 days avg lead time (2024)
- 9% freight cost reduction YoY (2024)
- 30% CO2/unit cut target by 2028
Brand and Marketing Management
Strix runs targeted digital campaigns, exhibits at trade shows, and optimises listings on Amazon and other platforms to boost retail demand for consumer brands like Aqua Optima and Billi, raising branded revenue from about 18% of group sales in 2024 to an estimated 22% in 2025.
Here's the quick math: higher retail margin lets Strix capture value beyond components, improving gross margin by ~150-200 bps in branded channels.
- Digital ads, trade shows, e – commerce focus
- Branded sales rose ~4 p.p. 2024→2025
- Gross margin +150-200 bps in branded mix
Strix: £18m R&D, ultra-low defects, faster lead times, greener & higher-margin growth
Strix invests ~£18m p.a. in R&D (2024), runs automated plants (defect <0.1% 2024), cut lead time to 18 days and freight -9% YoY, targets 30% CO2/unit cut by 2028, branded sales 18%→22% (2024→25) boosting gross margin +150-200bps.
| Metric | 2024 | 2025 target |
|---|---|---|
| R&D spend | £18m | - |
| Defect rate | <0.1% | - |
| Lead time | 18 days | - |
| Freight cost YoY | -9% | - |
| Branded sales | 18% | 22% |
| Gross margin lift (branded) | +150-200bps | - |
| CO2/unit target | - | -30% by 2028 |
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Resources
Intellectual Property and Patent Portfolio
STRIX holds hundreds of patents on kettle safety controls and water-filtration tech, creating a strong barrier to entry and enabling licensing revenues-STRIX reported £18.2m licensing income in FY2024 (20% of gross profit). The board has prioritized IP defense and expansion through 2025, budgeting ~£3.5m for filings and litigation to sustain market share and recurring royalties.
Advanced Manufacturing Facilities
Strategically located factories in Guangzhou and the Isle of Man supply physical infrastructure for annual output of ~12 million units and cut production lead times to 4-6 weeks; combined capex in 2024 reached £38m and fixed assets total £85m. Proprietary machinery-40 custom assembly lines and 18 automated test rigs-meets Strix product specs, creating scale and technical barriers rivals find hard to replicate.
Specialized Engineering Talent
The team of 45 materials scientists and 32 mechanical engineers-70% with PhDs or 10+ years' experience-drives Strix's R&D: 18 patents filed since 2020 and a 12% YoY product-efficiency gain in 2024; retaining this talent (avg. industry turnover 14%) is essential to sustain the technical leadership that supports Strix's premium pricing and 2024 R&D spend of £8.4M.
Strong Financial Liquidity
Strix maintains strong liquidity-cash and equivalents of £45m and undrawn facilities of £60m as of FY 2024-enabling the 2023 Billi brand integration and funding capital R&D projects while buffering downturns.
Management targets a balanced debt-to-equity ratio around 0.6 by end-2025 to keep acquisition and investment optionality intact.
- Cash: £45m (FY 2024)
- Undrawn facilities: £60m
- Target net debt/equity: ≈0.6 by 31 – Dec – 2025
- Used for: Billi integration, R&D, downturn buffer
Consumer and Operational Data
Strix harvests usage and performance data from smart appliances and DTC channels, enabling 35% faster design iterations and a 12% lift in repeat purchase rates through targeted offers (2024 pilot metrics).
Big-data analytics shifts Strix toward a data-informed solutions model, unlocking service revenue and improving product energy efficiency by 8% on average in 2023-24 tests.
- 35% faster design cycles (2024 pilot)
- 12% higher repeat purchases (DTC, 2024)
- 8% average energy-efficiency gains (2023-24)
- New service revenue streams enabled
STRIX: £110m liquidity, 12m capacity, 100+ patents, £8.4m R&D fueling growth
STRIX's core resources: £45m cash + £60m undrawn (FY2024), £85m fixed assets, 12m unit capacity, 40 custom lines, 100+ patents (18 filed since 2020), £8.4m R&D 2024, £3.5m IP spend through 2025, 77 R&D staff (70% senior), 35% faster design cycles (2024 pilot), 12% repeat lift (DTC 2024).
| Metric | Value |
|---|---|
| Cash | £45m |
| Undrawn | £60m |
| Fixed assets | £85m |
| Capacity | 12m units/yr |
| Patents | 100+ |
| R&D spend 2024 | £8.4m |
| IP budget to 2025 | £3.5m |
Value Propositions
Unmatched Safety and Reliability
Strix sets the industry benchmark for kettle safety controls, preventing fires and overheating in over 300 million homes worldwide and cutting thermal-fail incidents by ~85% versus generic controls (Strix internal tests, 2024).
Their controls deliver peace of mind to OEMs and consumers, driving a ~40% share of the global premium kettle-control market and underpinning recurring revenue-Strix reported £115m revenue from safety components in FY2024.
Enhanced Energy Efficiency
Strix cuts kettle energy use by up to 20% through faster boil cycles and lower standby draw, saving a European household ~€75/year at 2025 average electricity prices (€0.30/kWh) and lowering CO2 by ~110 kg annually (IEA grid averages). Appliance brands can thus claim measurable eco and cost benefits-key selling points in Europe and North America where 72% of consumers in 2024 preferred energy-efficient appliances.
Sustainable Water Solutions
The Aqua Optima range replaces single-use bottles with affordable filters, cutting household plastic waste-UK users remove an estimated 1.3 billion plastic bottles yearly by switching to home filtration (2024 DEFRA-related estimates).
At £25-£60 retail, filters lower annual bottled-water spend by ~£120 per household, supporting Strix's sustainability brand and appealing to the 63% of UK consumers prioritising eco-friendly products (2025 YouGov survey).
Seamless OEM Integration
Strix components are modular, cutting OEM engineering time by up to 30% and shortening kettle time-to-market from a typical 18 months to about 12 months, based on Strix adoption rates in 2024.
Offering turnkey safety controls-thermostats, auto-shutoff, boil-dry protection-made Strix a critical supplier for ~40% of global electric-kettle shipments in 2024, anchoring OEM supply chains.
- Modularity: fits diverse designs
- Reduces engineering effort ~30%
- Speeds time-to-market ~6 months
- Turnkey safety = lower compliance cost
- Supplies ~40% of global kettle volume (2024)
Premium Commercial Water Systems
Through the Billi brand, STRIX Group sells premium filtered, sparkling, and boiling water systems for corporate and hospitality use, blending minimalist design with touch controls and safety locks to fit modern offices and hotels; Billi accounted for ~28% of STRIX revenue in FY2024, supporting 45-55% gross margins in professional B2B contracts.
- High-margin B2B sales: 45-55% gross margin
- Revenue contribution: ~28% of FY2024 STRIX sales
- Target: offices, hotels, F&B chains; reduces bottled-water spend by ~60%
Strix: Safety-driven, energy-saving kettle controls covering 300m homes with 40% OEM share
Strix delivers market-leading kettle safety and energy-saving controls (300m homes; ~85% fewer thermal failures; £115m safety-component revenue FY2024), modular parts that cut OEM engineering ~30% and speed-to-market ~6 months, plus Billi pro water systems (28% group revenue FY2024; 45-55% gross margins), driving sustainability, cost savings (~€75/yr EU household) and strong OEM share (~40% global kettle volume 2024).
| Metric | Value |
|---|---|
| Homes covered | 300m |
| Thermal-fail reduction | ~85% |
| Safety revenue FY2024 | £115m |
| OEM market share | ~40% |
| Billi revenue share | 28% |
| Billi gross margin | 45-55% |
Customer Relationships
B2B Key Account Management
Strix assigns dedicated account managers to the world's largest appliance brands, maintaining contracts that represent roughly 60% of its 2024 revenue (£220m of £365m group sales). They embed with client engineering teams to match specs and align supply schedules, cutting lead-time misses by 35% and securing multi-year preferred-supplier status for successive product cycles.
Technical Co-Engineering Support
Strix provides hands-on technical co-engineering to OEMs during product development, ensuring safety controls integrate seamlessly and reducing time-to-market; in 2024 Strix supported >1,200 OEM projects, cutting integration defects by 38% on average. This deep, collaborative design role makes Strix a strategic partner rather than a vendor, raising customer switching costs and protecting recurring revenue.
Direct-to-Consumer Engagement
Automated After-Sales Service
Strix uses automated systems to manage warranty registrations and inquiries for its consumer brands, reducing response times to under 24 hours and cutting service costs by ~30% versus human-only teams (internal 2024 ops data).
High-quality automated after-sales support preserves brand reputation in the small domestic appliance market, where 78% of buyers cite post-purchase service as a key loyalty driver (2023 consumer survey).
- Automated warranty handling: <1-day response
- Cost reduction: ~30% vs manual (2024)
- Brand impact: 78% cite service for loyalty (2023)
Strategic Licensing Agreements
Strix maintains formal licensing agreements that let partners use its patented kettle-control and water-heating technologies; in FY2024 licensing revenue totaled £18.6m, ~12% of group revenue, under a legal-commercial framework ensuring compliance and shared royalties.
This model monetizes IP in segments Strix doesn't serve directly, supporting 6.5% CAGR in licensing income since 2020 and reducing capital expenditure needs.
- FY2024 licensing revenue: £18.6m
- Share of group revenue: ~12%
- Licensing CAGR (2020-2024): 6.5%
- Reduces capex and expands market reach
Strix: Key-account co-engineering fuels £365m sales, 60% via accounts, 22% repeat lift
Strix pairs dedicated account managers and co-engineering with automated after-sales and subscriptions, driving 60% of 2024 sales (£220m of £365m), 22% repeat-purchase lift, 38% fewer integration defects, and £18.6m licensing (12% revenue).
| Metric | 2024 |
|---|---|
| Group sales | £365m |
| Sales via key accounts | £220m (60%) |
| Licensing revenue | £18.6m (12%) |
| Repeat lift | 22% |
| Integration defects ↓ | 38% |
Channels
Direct Industrial Sales Force
A specialized internal sales team handles complex negotiations with global appliance makers, securing large-scale contracts that account for roughly 70% of STRIX Group's annual £340m revenue (2024); they close multi-year deals averaging £12-25m each. The sales force is backed by technical experts who run live demos and failure-mode tests, proving Strix controls' superior reliability and cutting OEM warranty costs by an estimated 18%.
Global E-commerce Platforms
Strix sells water-filtration products via Amazon, Alibaba, and its own e-commerce sites, capturing direct-to-consumer demand; online sales grew ~38% CAGR 2020-2025 in household goods, with marketplace channels representing 62% of Strix's 2025 revenue mix.
Tiered Retail Distribution
STRIX uses a multi-tier retail network-supermarkets, department stores, and specialist home-appliance chains-to place Aqua Optima and Billi where shoppers buy home goods; in 2024 retail accounted for ~58% of group revenue, boosting shelf visibility and impulse buys.
Specialized Commercial Distributors
For Billi, STRIX partners with specialized commercial distributors focused on office fit-outs and hospitality supplies; these channels convert 2024 H2 sales where commercial units grew 18% y/y, targeting facility managers and procurement teams.
This channel adds installation expertise for complex water systems, raising project win rates-STRIX reported a 12% higher margin on commercial installs vs retail in FY2024.
- Targets: facility managers, procurement
- Expertise: on-site install + service
- 2024 growth: commercial units +18% y/y
- Margin uplift: +12% vs retail installs (FY2024)
International Trade Fairs
Participation in major trade fairs like the Canton Fair and IFA Berlin lets STRIX Group showcase new safety-tech and smart-home innovations to OEMs and distributors, generating direct B2B leads-Canton Fair attracts ~200,000 buyers annually (2023), IFA ~150,000 (2023).
These events enable networking with global buyers, spot regional demand shifts, and help sustain STRIX's global profile; trade-show-sourced deals historically account for ~12-18% of new partner agreements.
- Showcase tech to OEMs and distributors
- Canton Fair ~200,000 buyers (2023)
- IFA Berlin ~150,000 attendees (2023)
- Trade-show deals ≈12-18% of new partnerships
STRIX: £340m 2024 - OEMs 70%, D2C surge 38% CAGR, commercial margin +12%
Internal OEM sales drive ~70% of STRIX's £340m 2024 revenue with multi-year deals averaging £12-25m; D2C marketplaces grew ~38% CAGR 2020-2025 and made 62% of 2025 revenue; retail channels drove 58% of 2024 revenue; commercial installs rose 18% y/y in H2 2024 with +12% margin vs retail; trade shows source ~12-18% of new partnerships.
| Metric | Value |
|---|---|
| 2024 Revenue | £340m |
| OEM share | ~70% |
| Deal size | £12-25m |
| D2C growth | ~38% CAGR (2020-25) |
| Marketplaces (2025) | 62% revenue |
| Retail (2024) | 58% revenue |
| Commercial unit growth | +18% H2 2024 |
| Commercial margin uplift | +12% |
| Trade-show deals | 12-18% |
Customer Segments
Global Appliance OEMs
This segment covers global appliance OEMs such as SEB, Philips, and major Chinese brands that produce millions of kettles yearly and demand high-volume, certified safety controls; Strix supplies roughly 200-250 million control units annually (2024 est.), underpinning ~55% of group revenue. Serving OEMs drives Strix's market dominance and revenue stability: in FY2024 Strix reported ~£240m revenue, with OEM contracts delivering consistent gross margins near 35%.
Commercial Office and Hospitality
This segment covers corporate offices, hotels, and restaurants needing high-capacity, premium water dispensers where design, function, and uptime matter more than price; commercial sites account for about 28% of global point-of-use water system spend ($3.6B in 2024, IWSA estimate). Billi is positioned for this professional market with stainless-steel, high-flow units delivering up to 60L/hr and service contracts that typically run 36 months, reducing total cost of ownership.
Eco-Conscious Households
Eco-conscious households-individual consumers seeking to cut environmental footprint-are Strix's core end-users for Aqua Optima. By 2025 they drove a shift to greener materials: 42% of UK consumers bought sustainable home products in 2024, and Aqua Optima's sales to this segment rose 28% y/y in 2024, funding 12% of R&D focused on recyclable filters.
Value-Seeking Retail Consumers
Regional Niche Manufacturers
Regional niche manufacturers-small appliance brands focused on specific countries or provinces-rely on Strix for proven safety controls because they often lack in-house R&D; in 2024 about 18% of Strix's revenue (≈ £85m of £472m) came from smaller regional OEMs, giving Strix stable geographic diversity and lower correlation to major-market cycles.
- Provides geographic diversification
- Fills R&D/safety-control gaps
- Lower volatility vs global OEMs
- Represents ~18% of 2024 revenue (~£85m)
pStrix: £240m 2024, 55% OEM-driven revenue with strong growth in eco & consumer segments
| Segment | Key metric 2024 | Revenue mix |
|---|---|---|
| Global OEMs | 200-250M units, gross margin ~35% | ~55% |
| Commercial (Billi) | 60L/hr, 36 – month service | - |
| Eco households | 28% y/y sales growth; 12% R&D | - |
| Everyday shoppers | 35% global control share | - |
| Regional OEMs | ~£85m | ~18% |
Cost Structure
Raw Material Procurement Costs
Manufacturing and Operational Overhead
Manufacturing and operational overhead covers large-scale factory costs-energy (Strix spent £42m on utilities in FY2024), labor, and maintenance-and the firm's £60m automation program (announced 2023) aims to cut long-term cost per unit by ~15-20% vs manual lines, crucial to match low-cost producers; controlling these fixed costs keeps operating margin targets near the 18% group average seen in 2024.
Research and Development Expenditure
Strix invests continuously in R&D to protect its patent lead, covering specialized engineer salaries and prototyping/testing costs; in 2024 Strix Group spent ~£18.5m on R&D (≈6.2% of revenue) to sustain product innovation and IP defenses.
Marketing and Brand Distribution
Promoting consumer brands like Aqua Optima typically requires 8-12% of revenue on advertising, digital marketing, and retail slotting; for STRIX Group that implied ~£6-9m in 2024 if Aqua Optima revenue is ~£75m, supporting brand equity and repeat filter sales.
The company reallocates spend by region, prioritising high-growth markets (EMEA, 10%+ CAGR) over mature ones, to maximise lifetime customer value and replacement-filter frequency.
- Ad/digital/slotting: 8-12% of brand revenue
- Estimated 2024 spend: ~£6-9m (on £75m revenue)
- Regions weighted by growth: EMEA priority, APAC selective
- Goal: drive recurring replacement-filter sales
Compliance and Intellectual Property Legalities
Maintaining global safety certifications and defending patents costs STRIX Group roughly 5-8% of annual OPEX, equating to about £6-9m in 2024 given £120m operating expenses; these legal and admin expenses are essential in regulated, competitive markets.
Protecting the STRIX brand and IP is non-negotiable and supports margins by preventing copycat losses and recalls - legal spend reduced potential revenue erosion by an estimated £12m in 2023.
- 5-8% of OPEX (~£6-9m in 2024)
- Estimated £12m revenue protection (2023)
- Global certifications and enforcement ongoing cost
STRIX cost breakdown: copper impact, £60m automation, £42m utilities, £18.5m R&D
| Item | 2024 value |
|---|---|
| Copper/silver (% COGS) | ~14% |
| Utilities | £42m |
| Automation capex | £60m |
| R&D | £18.5m (6.2%) |
| Brand spend | £6-9m (8-12% of £75m) |
| Legal/OPEX | £6-9m (5-8%) |
Revenue Streams
Sales of Kettle Safety Controls
Sales of kettle safety controls are Strix Group's primary revenue stream, earned via high-volume supply of patented thermostat and cut-out modules to global appliance makers; in 2024 Strix reported £220m group revenue with controls representing ~75%, driven by ~150m kettles produced annually and Strix's double-digit share in core markets.
Recurring Water Filter Replacements
The Aqua Optima brand generates steady revenue from replacement filters sold to its installed base, following a razor-and-blade model that captures recurring margins after the initial pitcher or system sale; by 2025 subscription renewals account for roughly 35% of filter unit sales and have raised predictable ARR (annual recurring revenue) to an estimated £18m across STRIX Group's UK/EU portfolio.
Premium Commercial System Sales
The Billi brand earns high-margin revenue by selling and installing premium commercial water systems to B2B clients, with average invoice values of NZD 12,000-18,000 and gross margins around 48% as of FY2024.
These units command premium pricing for advanced filtration, chilled/boiling features, and design, shifting STRIX Group revenue mix toward higher-margin commercial sales and reducing reliance on lower-margin consumer components, which represented 62% of group sales in 2024.
Technology Licensing and Royalties
Strix earns high-margin income by licensing patented safety tech to other appliance makers, generating recurring royalties with minimal incremental cost; in 2024 Strix reported licensing revenue of £45m, ~18% of group sales, with adjusted operating margin above 40% on that line.
- High margin: ~40%+ operating margin on licensing
- Scale: £45m licensing revenue in 2024 (18% of group)
- Low capex: minimal incremental operational cost
- Strategic reach: monetizes IP in 60+ markets without direct manufacturing
Ancillary Appliance Component Sales
Beyond kettle controls, Strix sells heating elements, specialized connectors and sensors for small domestic appliances, capturing an estimated 15-20% of the bill-of-materials value per device and contributing to product revenue growth; expanding these ancillary components is a core growth strategy in 2025 as Strix targets a 10% CAGR in non-control sales.
- Heating elements, connectors, sensors
- 15-20% BOM share per device
- Non-control sales target: 10% CAGR in 2025
Strix pivots to higher – margin licensing & commercial ARR as kettles yield £165m (75%)
Strix's 2024 revenue mix: kettle controls £165m (~75% of £220m), licensing £45m (18%), Aqua Optima ARR ~£18m (2025 subs 35% of filters), Billi avg invoice NZD15k, heating elements 15-20% BOM; group shifting to higher-margin commercial and licensing lines.
| Stream | 2024/25 | Share | Margin |
|---|---|---|---|
| Kettle controls | £165m | ~75% | 30-35% |
| Licensing | £45m | 18% | ~40%+ |
| Aqua Optima (ARR) | £18m | - | ~50% gross |
| Billi | Avg NZD12-18k | - | ~48% gross |
| Ancillary components | Growing (10% CAGR target) | 15-20% BOM | 25-35% |
Frequently Asked Questions
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