Oxford Instruments (OXIG) Q2 2027 TU earnings summary

Group trading

• H1 FY27 order intake rose nearly 44%; reported revenue increased ~8% (9% OCC), and adjusted operating margin is expected to improve by over 100 bps YoY.

• Order intake and H2 orderbook cover underpin confidence in FY27 results in line with market expectations: revenue £444.4m and adjusted operating profit £81.0m.

Imaging and analysis

• H1 order intake rose over 11% YoY, driven by semiconductor and materials science demand; divisional orderbook grew ~5% versus H1 FY26.

• Revenue grew ~2–3% as smaller product lines replenished orderbook after high Q4 FY26 deliveries; full-year revenue growth remains expected in line with guidance.

• Adjusted operating margin improved after a challenging H1 FY26, alongside continued investment and management of macro execution risks.

Advanced technologies

• H1 order intake rose over 125% YoY; around three quarters came from datacom demand following commercial volume manufacturing customer wins.

• Orderbook extends well into FY28, with expected FY27 revenue fully covered; H1 revenue grew ~26% as production capacity expanded.

• Adjusted operating margin materially improved YoY despite increased investment in capacity expansion.