Spirax Group Plc. · LSE:SPX
Spirax — Shareholder Meeting (May 2026)
12 slides from Spirax's shareholder meeting presentation, May 13, 2026
Slide 1: Spirax Group Annual General Meeting
Spirax Group Annual General Meeting 13 May 2026
Slide 2: Chief Executive Officer's Review
Chief Executive Officer’s Review Nimesh Patel Group Chief Executive Officer
Slide 3: 2025 performance overview
2025 performance overview 3 Delivering in line with our commitments, despite the volatile macroeconomic backdrop • Delivered slightly above guidance; progress back to meeting/beating expectations • Group organic revenue growth 5%, well ahead of global IP; all Businesses delivered organic growth and
Slide 4: An enduring business model
An enduring business model 4 Direct sales model focused on solution selling… …funded primarily from local operating budgets… Maintenance ~2,900 and repair sales Typical invoice: £1.5k >100k Direct sales and Solution-sales local customers service engineers* Typical invoice: £10k-80k and significant L
Slide 5: Significant annual addressable market
Significant annual addressable market 5 Future expansion of addressable market: • IP-related growth • Pricing • New target, high growth sectors ~£5bn Decarbonisation of thermal energy beyond steam generation: • Current thermal energy needs in target sectors and regions Current annual • Assumes adopt
Slide 6: Our journey from customer solutions to customer partnership
Our journey from customer solutions to customer partnership 6 From local insight to regional impact… ...how STS is capturing sales from China’s overseas investments. Read more on page 16 of our 2025 Annual Report From point-in-time to real time… …how STS is turning digital insight into operational i
Slide 7: Our journey from customer solutions to customer partnership: investing in growth
Our journey from customer solutions to customer partnership 7 Investing in growth New product Decarbonisation Digital connectivity Sales capabilities development opportunities Digital nnected → Decarbonising and Services co Thermal Energy e Im r Walk the plant and From products to tions → Mo the pla
Slide 8: Delivering on our Operational Priorities
Delivering on our Operational Priorities 8 Strategy execution that delivers margin growth; supports investment in future growth Organisational Fitness Operational Excellence Commercial Excellence Driving effectiveness Driving growth and margins Driving growth • STS EMEA simplification • Simplifying
Slide 9: From cultural strength to performance advantage
From cultural strength to performance advantage 9 Building a culture that sustains High Values and accelerates High Performance We control the controllables… • Above IP growth* • Double-digit growth in Equipment Heating*** • Above IP growth Process Industries • Double-digit growth in Heat Trace (Ame
Slide 10: Building on our performance through Together for Growth
Building on our performance through Together for Growth… 10 Unique business model with Long runway for high margin, durable competitive advantage high ROCE organic growth Commercial Excellence ~2,900 Direct sales engineers* Operational Excellence 60% Sales to defensive sectors ~£18bn Organisational
Slide 11: ...to deliver compounding growth and strong shareholder returns
...to deliver compounding growth and strong shareholder returns 11 Supported by a disciplined capital allocation framework Free Cashflow deployment to drive growth and returns EPS growth 1 3 25 yrs CAGR 9% Disciplined bolt-on Invest to drive acquisitions organic growth to deliver ROCE (2025: 36%) gr
Slide 12: In summary
In summary 12 2025 • Delivered 2025 in line with our commitments, despite challenging macroeconomic environment • Through focused execution, ‘controlling the controllables’ while investing for growth • Building momentum towards our medium-term targets and long-term compounding growth 2026 • Against