Renishaw (RSW) Trading Update summary

Trading performance

• Total revenue rose 6% to £173.9m, with manufacturing technologies up 7% and analytical instruments and medical devices down 16%.

• Americas and EMEA regions experienced increased demand, while APAC saw lower sales due to a strong prior year in consumer electronics.

• Strong growth in position encoders for the semiconductor sector and additive manufacturing products; industrial metrology demand was lower.

Profit and financial position

• Adjusted and statutory profit before tax both increased 22% to £34.0m.

• Net cash and cash equivalents plus bank deposits stood at £276.1m as of 30 September 2024, up from £217.8m at the end of June.

Outlook and strategy

• Cautious outlook for semiconductor sector demand for the rest of FY2025 despite strong Q1 sales.

• Anticipates solid overall revenue growth for the year, aligned with Board expectations.

• Focus remains on cost management and productivity improvements to support margin objectives.