Spirax Group PLC (SPX) · 2026-11-11
Trading Update
Spirax Group’s ten-month organic sales growth and adjusted operating profit margin were in line with expectations and ahead of the first half, while it reiterated full-year targets for mid-single-digit organic revenue growth, margin above 2025’s 20.0% and cash conversion of around 90%. Net borrowings excluding leases fell to £541.6m at 31 October from £618.2m at 30 June, reducing its net debt-to-EBITDA ratio to 1.3x from 1.6x.