On this page of StockholderLetter.com we present the latest annual shareholder letter from STRATTEC SECURITY CORP — ticker symbol STRT. Reading current and past STRT letters to shareholders can bring important insights into the investment thesis.
2025 Annual Report to Shareholders
Nasda aq:: STRT We are a leading global provider of advanced automotive access, security and authorization solutions for leading vehicle manufacturers, primarily in the U.S. With a history spanning more than 110 years, we have consistently been at the forefront of innovation in vehicle security, transitioning from mechanical to integrated electro-mechanical systems. Our highly engineered products include power access solutions, latches, vehicle start systems, keys, fobs & accessories, locks & locksets, door handles and other access products. Power access solutions provide the motion control for power liftgates, sliding power doors and power tailgates. Delivering an innovative, comprehensive range of solutions to the automotive world!
Lettter to Share eholderss fro om the Presiide entt and CEO Dear Fellow Shareholderss, I am pleased to report that we made excellent progress in fiscal 2025 as we advanced our plan to transform Strattec into a dynamic and innovative enterprise that can deliver stronger, more predictable earnings power. Our Strattec team demonstrated dedication, perseverance and agility as we navigated through a year of significant change and complex challenges. While still early in our transformation journey, we delivered solid sales growth, expanded margins, and grew net income. We also generated meaningful cash and ended the year with a strong balance sheet that provides the underlying financial structure needed to continue to move forward in a world of uncertainty. Fiscal 2025 was not an easy year, but we covered a lot of ground and underwent substantial change. As a result, we are a much better business and have the foundational elements to continue to advance our transformation. Creating a Formidable Organization: We have a refreshed and energized executive team. We have added critical talent throughout the organization and leveraged existing talent. This enabled us to break down silos and create focus, alignment and accountability. I am honored to be surrounded by an exceptional executive team that will be a key part in our continued transformation. Our Chief Financial Officer, Matthew Pauli, who joined Strattec in November of 2024, brought deeper public company and information systems experience, as well as the knowledge regarding financial and accounting processes to help provide the clarity to drive our operational transformation. Our Chief Commercial Officer, Chey Becker-Varto, joined the Company in November of 2024 and brought a new level of commercial strategy sophistication and deep knowledge of the automotive industry as well as a strong recognition of the value our products provide our customers. Our Chief People Officer, Linda Redmann, was also an addition to the executive team last November and oversees our human capital for an organization of approximately 2,800 team members across US, Mexico and Korea. Our Chief Technology Officer, Richard Messina, has been with Strattec since 2008 and continues to provide the engineering expertise and institutional knowledge that has enabled Strattec to remain a leader in power access and security and authorization solutions for the North American automotive industry. Following the end of the fiscal year, Aaron Byrne joined our team as Vice President, Operations on July 14, 2025. Aaron has hit the ground running and has demonstrated his capabilities in manufacturing operations in a very short time. Prior to joining us, Aaron served as Chief Production Officer at SK Battery America, where he led high-volume EV battery production and played a key role in building systems and processes to support safety, quality, and rapid growth.
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We see our longer-term opportunity to grow in four key areas with an emphasis on our digital key and power access business: Deeper penetration within existing customers Capturing new customers Expanding beyond light vehicles in North America Expanding our geographic reach Importantly, we will continue to develop our capital allocation strategy as we leverage our cash to balance near-term uncertainty with longer-term opportunities to deliver shareholder value. This was an eventful first year as President and CEO of Strattec. I would like to thank our employees, Board of Directors and shareholders for their support and dedication to Strattec. As we advance our transformation plans and continue to evolve the Company, I believe the future of Strattec can be as rewarding as this last year and I hope everyone shares in my excitement. With kind regards, Jennifer L. Slater President and CEO September 10, 2025
 • shareholder letter icon 9/11/2025 Letter Continued (Full PDF)
 • stockholder letter icon 9/7/2023 STRT Stockholder Letter
 • stockholder letter icon 9/20/2024 STRT Stockholder Letter
 • stockholder letter icon More "Auto Parts" Category Stockholder Letters
 • Benford's Law Stocks icon STRT Benford's Law Stock Score = 97


STRT Shareholder/Stockholder Letter Transcript:

2025
Annual Report to Shareholders

Nasda
aq:: STRT
We are a leading global provider of advanced automotive access, security and
authorization solutions for leading vehicle manufacturers, primarily in the U.S.
With a history spanning more than 110 years, we have consistently been at the
forefront of innovation in vehicle security, transitioning from mechanical to
integrated electro-mechanical systems.
Our highly engineered products include power access solutions, latches, vehicle
start systems, keys, fobs & accessories, locks & locksets, door handles and other
access products. Power access solutions provide the motion control for power
liftgates, sliding power doors and power tailgates.
Delivering an innovative, comprehensive range of solutions
to the automotive world!

Lettter to Share
eholderss fro
om the Presiide
entt and CEO
Dear Fellow Shareholderss,
I am pleased to report that we made excellent progress in fiscal 2025 as we advanced our plan to
transform Strattec into a dynamic and innovative enterprise that can deliver stronger, more predictable
earnings power. Our Strattec team demonstrated dedication, perseverance and agility as we navigated
through a year of significant change and complex challenges. While still early in our transformation journey,
we delivered solid sales growth, expanded margins, and grew net income. We also generated meaningful
cash and ended the year with a strong balance sheet that provides the underlying financial structure
needed to continue to move forward in a world of uncertainty. Fiscal 2025 was not an easy year, but we
covered a lot of ground and underwent substantial change. As a result, we are a much better business and
have the foundational elements to continue to advance our transformation.
Creating a Formidable Organization:
We have a refreshed and energized executive team. We
have added critical talent throughout the organization and
leveraged existing talent. This enabled us to break down
silos and create focus, alignment and accountability. I am
honored to be surrounded by an exceptional executive
team that will be a key part in our continued
transformation.

Our Chief Financial Officer, Matthew Pauli, who
joined Strattec in November of 2024, brought deeper public company and information systems
experience, as well as the knowledge regarding financial and accounting processes to help provide
the clarity to drive our operational transformation.

Our Chief Commercial Officer, Chey Becker-Varto, joined the Company in November of 2024 and
brought a new level of commercial strategy sophistication and deep knowledge of the automotive
industry as well as a strong recognition of the value our products provide our customers.

Our Chief People Officer, Linda Redmann, was also an addition to the executive team last
November and oversees our human capital for an organization of approximately 2,800 team
members across US, Mexico and Korea.

Our Chief Technology Officer, Richard Messina, has been with Strattec since 2008 and continues
to provide the engineering expertise and institutional knowledge that has enabled Strattec to remain
a leader in power access and security and authorization solutions for the North American
automotive industry.

Following the end of the fiscal year, Aaron Byrne joined our team as Vice President, Operations on
July 14, 2025. Aaron has hit the ground running and has demonstrated his capabilities in
manufacturing operations in a very short time. Prior to joining us, Aaron served as Chief Production
Officer at SK Battery America, where he led high-volume EV battery production and played a key
role in building systems and processes to support safety, quality, and rapid growth.

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We see our longer-term opportunity to grow in four key areas with an emphasis on our digital key and
power access business:

Deeper penetration within existing customers

Capturing new customers

Expanding beyond light vehicles in North America

Expanding our geographic reach
Importantly, we will continue to develop our capital allocation strategy as we leverage our cash to balance
near-term uncertainty with longer-term opportunities to deliver shareholder value.
This was an eventful first year as President and CEO of Strattec. I would like to thank our employees,
Board of Directors and shareholders for their support and dedication to Strattec. As we advance our
transformation plans and continue to evolve the Company, I believe the future of Strattec can be as
rewarding as this last year and I hope everyone shares in my excitement.
With kind regards,
Jennifer L. Slater
President and CEO
September 10, 2025



shareholder letter icon 9/11/2025 Letter Continued (Full PDF)
 

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