London · Delayed Price · Currency is GBP · Price in GBX Renishaw Earnings Call Transcripts
Fiscal Year 2026
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Record H1 revenue and profit growth were driven by strong demand in semiconductor, defense, and additive manufacturing, with margin improvements supported by cost reductions. Currency headwinds and EMEA softness persisted, but positive guidance and robust product innovation signal strong momentum into H2.
Fiscal Year 2025
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Industrial metrology and shop floor systems show growth despite automotive and machine tool weakness. Cost savings and productivity initiatives are underway, with EUR 300 million cash under review for deployment. Defense and China markets offer optimism, while tariffs and cost inflation are being managed.
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Record revenue and improved adjusted profit were achieved despite market challenges, driven by innovation and strong APAC growth. Cost reduction, restructuring, and new product launches position the business for steady growth and margin improvement in FY 2026.
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Sharpened focus on core markets and accelerated innovation are driving growth, with new products and automation initiatives supporting a return to 20% operating margin. New business segments, cost reduction programs, and digital transformation underpin improved efficiency and profitability.
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Order intake and demand improved in semiconductors, consumer electronics, and aerospace, but uncertainty persists due to short order cycles, regional challenges, and pricing pressure in China. H2 guidance reflects both optimism and caution, with strong cash conversion and ongoing margin focus.
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Revenue grew 3% year-over-year in H1 FY2025, with operating profit up 9% and strong cash generation. Full year revenue is forecasted at GBP 695-735 million, with profit expected between GBP 105-135 million, despite cost headwinds and macroeconomic uncertainty.
Fiscal Year 2024
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Q4 margins were impacted by one-off costs, but underlying profitability remains solid, with gross margin at 46.8%. Growth is expected in newer markets and medical devices, while steady margin recovery and improved productivity are anticipated for FY 2025.
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Record revenue achieved despite semiconductor market and currency headwinds, with strong H2 performance. Adjusted profit before tax declined due to higher labor costs and currency impacts, but outlook for FY 2025 is positive with expected revenue and margin growth.