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Renishaw
Renishaw (RSW) investor relations material
Renishaw H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2026 earnings summary11 Feb, 2026
Executive summary
Achieved record H1 revenue of £365.6m, up 7.1% year-over-year (11.5% at constant currency), with strong Q2 momentum and a growing order book across all segments, including significant progress in emerging businesses and product innovation.
All three business segments delivered revenue growth, with Specialised Technologies showing the strongest improvement, especially in additive manufacturing and enclosed optical encoders.
Cost reduction initiatives, including closure of the drug delivery business, supported margin improvements despite currency and tariff headwinds.
Introduced multiple new products in Industrial Metrology, Position Measurement, and Specialised Technologies, supporting growth and innovation.
Statutory profit before tax fell 20% due to £18.0m in restructuring and one-off costs.
Financial highlights
H1 FY2026 revenue reached £365.6m, up 7.1% (11.5% at constant currency) year-over-year; all three segments and regions showed growth, though EMEA was down 5%.
Adjusted operating profit increased 11.4% to £57.5m; margin improved to 15.7% (up 0.6 percentage points).
Adjusted profit before tax was £64.1m, up 11.5% year-over-year; statutory profit before tax was £46.0m, down 20% due to non-recurring items.
Adjusted earnings per share increased 8.9% to 68.8p; interim dividend maintained at 16.8p per share.
Return on invested capital rose to 13.2%, up 0.6 percentage points year-over-year.
Outlook and guidance
Full-year FY2026 revenue expected in the range of £740m to £780m, with adjusted profit before tax guidance of £132m to £157m.
H2 typically stronger than H1; positive momentum continues into Q3.
Mixed trading conditions and economic/geopolitical uncertainties persist, but significant opportunities from structural market growth drivers and new product launches.
Continued currency headwinds expected, but benefits from cost reduction and margin flow-through anticipated.
H2 margin headwinds outlook
H2 cash flow conversion improvement drivers
Timeline for neurosurgery business exit
Pace of emerging businesses becoming established?
Manufacturing footprint changes for FX/geopolitics?
Mitigation for German machine tool market weakness?
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Frequently asked questions
Renishaw plc designs and manufactures precision measurement and healthcare technology products. The company serves industries such as aerospace, automotive, healthcare, and electronics with solutions including metrology systems, metal 3D printing, and neurotechnology devices. The company is headquartered in Wotton-under-Edge, United Kingdom, and its shares are listed on the LSE.
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