Spirax Group plc: directors' dealings · United Kingdom · RNS (LSE)

About Spirax Group plc

Spirax Group plc is an industrial group focused on thermal energy and fluid technology solutions, listed on the London Stock Exchange (FTSE 100/250/AIM) in the United Kingdom under the ticker SPX.L. Headquartered in Cheltenham, UK, the group has built its business over more than 135 years, with roots dating back to 1888. Its strategy is centered on mission-critical technologies used in essential industrial processes, which gives it a strong position in niche but strategically important end markets. The company operates through three complementary businesses. Steam Thermal Solutions supports industrial customers in managing steam across mission-critical applications such as cleaning, sterilizing, cooking, and heating. Electric Thermal Solutions designs electrical process heating and temperature management systems, together with heat tracing and related components, and plays an increasingly important role in industrial electrification and decarbonization. Watson-Marlow Fluid Technology Solutions develops peristaltic pumps, niche pumps, tubing, and fluid path technologies used for dosing, transfer, filling, and single-use applications. Spirax stands out for its solutions-led business model, which combines engineering, manufacturing, technical support, and customer service rather than selling equipment in isolation. The group emphasizes its installed base, local service capability, and a meaningful proportion of revenue linked to maintenance, spare parts, implementation, and customer operating budgets. It operates in nearly 70 countries, serves more than 100,000 customers, and employs about 10,000 people globally, supported by more than 30 manufacturing sites worldwide. This global footprint helps it address a diversified industrial customer base across major regions. Its end markets include food and beverage, pharmaceuticals and biotechnology, healthcare, water and wastewater, semiconductors, chemicals, transport, power generation, oil and gas, and aerospace and defense. That diversification is an important defensive feature, while also giving the group exposure to long-term structural themes such as energy efficiency, process safety, and the industrial transition to net zero. Recent developments reinforce this positioning. In 2025, Spirax reported full-year revenue of £1,702.9 million, compared with £1,665.2 million in 2024. For the first half of 2025, revenue was £822.2 million and adjusted operating profit was £158.8 million, with an adjusted margin of 19.3%. The group has also highlighted decarbonization solutions, including technologies designed to electrify boilers and other industrial heating applications. In addition, Spirax continues to publish regular market disclosures through RNS announcements, including PDMR notifications, underscoring a disciplined communications approach suited to institutional investors. For French-speaking investors, Spirax Group can be viewed as a high-quality industrial compounder with global reach, technical depth, recurring service exposure, and structural support from industrial decarbonization and process optimization.