Slide 1: Transforming Tomorrow Together
Transforming Tomorrow Together Renishaw plc Final results 12 September 2024 Solid strategic progress in challenging market conditions
Slide 2: Revenue
Revenue Half-year revenue £m 400 Good growth from systems sales, offset by weaker 350 demand from the semicon equipment sector 300 67.0 69.1 79.2 83.6 77.9 72.1 92.3 250 Revenue growth of 0.4% to £691.3m 63.6 51.7 54.7 95.5 110.3 102.4 97.2 110.8 200 114.1 94.6 • Revenue up 3.7% at constant currency
Slide 3: Key metrics – FY2024 vs FY2023
Key metrics – FY2024 vs FY2023 Profitability 2024 2023 Change £m £m % Continuing control of fixed costs and focus on efficiency, Revenue 691.3 688.6 0.4 whilst maintaining our commitment to long-term growth Adjusted operating profit 108.7 130.4 (17) Adjusted profit before tax 13% lower at £122.6m Ad
Slide 4: Financial highlights
Financial highlights 2024 2023 Change Revenue £m 800 £m £m % 671.1 688.6 691.3 700 574.0 565.6 600 Revenue 691.3 688.6 0 510.2 500 345.9 340.9 360.8 Adjusted operating profit 108.7 130.4 (17) 277.3 310.5 400 250.8 Adjusted profit before tax 122.6 141.0 (13) 300 200 325.2 347.7 330.5 296.7 259.4 255.
Slide 5: Income statement
Income statement 2024 2023 Adjusted profit before tax bridge £m £m % £m % Change % Revenue 691.3 100 688.8 100 - Cost of sales (269.6) (39) (247.7) (36) 9 Engineering (incl. R&D) (98.1) (14) (90.2) (13) 9 Gross profit 323.6 47 350.7 51 (8) Distribution costs (139.9) (20) (137.7) (20) 2 Administrativ
Slide 6: Sources and uses of cash
Sources and uses of cash £m 1 Operating profit, before non-cash items and R&D costs 2 Working capital 3 Interested received 4 Amounts received from joint venture 5 Research and development (R&D) costs 6 Capital expenditure 7 Dividends paid 8 Tax paid 9 Other Slide 6
Slide 7: Investment in our future
Investment in our future New manufacturing halls at Miskin, South Wales Capital expenditure • £65.5m capex in FY2024, including new production equipment and completion of the first phase of Miskin expansion to support planned growth Hall 1 • Our planned capex in FY2025 is c.£40m Hall 2 Capital expen
Slide 8: New key performance indicators (KPIs)
New key performance indicators (KPIs) Target >7% Target >20% TCRG assesses our ability to achieve through cycle long-term revenue growth AOPM assesses the efficiency of our strategy in delivering value for shareholders Target >15% Target >70% ROIC assesses our efficiency in allocating capital to pro
Slide 9: Our purpose
Our purpose Transforming Tomorrow Together We make it possible to create the products, materials and therapies that will define our world in the decades to come and touch billions of lives Analytical instruments Manufacturing technologies & medical devices Semicon production Machine Robotics & Lab &
Slide 10: Our ambition
Our ambition To be a manufacturing technology powerhouse, that… ► Innovates in technologies for an automated, sustainable world ► Takes leading positions in an expanding range of high-growth markets ► Develops a portfolio of sensor and software-enabled systems ► Generates long-term organic growth wi
Slide 11: Long-term value creation model
Long-term value creation model Targeting high single digit through-cycle organic growth Well positioned in markets growing at >5% 1 p.a. Strategy driving consistent outperformance Manufacturing machine Industrial Growing in Increasing Extending into performance automation existing markets technology
Slide 12: Growing in existing markets
Growing in existing markets Growing in existing markets Aim to increase revenue by driving up probe fitment levels, offering higher value sensors and by winning more customers who build machinery. FY2024 progress Full market launch of RMP24-micro, w rl ’ Continued to grow revenue from our FORTiS sma
Slide 13: Increasing the value of the technology we sell
Increasing the value of the technology we sell Increasing technology value Aim to provide our end-user customers with complete solutions to capture a greater proportion of their investment. FY2024 progress Strong revenue growth for our Began the roll out of MODUS Launched the RenAM 500 Ultra Equator
Slide 14: Extending into new, high-growth markets
Extending into new, high-growth markets Extending into new markets Aim to diversify into close-adjacent markets where we have strong market understanding and brand awareness. FY2024 progress Our new industrial automation products (launched at the end of FY2023) have generated a positive response fro
Slide 15: Environmental, social and governance (ESG)
Environmental, social and governance (ESG) We will only achieve our ambition, and deliver on our strategy and purpose, by supporting our stakeholders, all of whom have a role to play in our continuing success. FY2024 progress • Introduced a new ESG strategy, with three key goals focused on achieving
Slide 16: Outlook
Outlook Expecting solid revenue growth and improved profitability • The start of FY2025 has seen continuing improvement in demand for our encoder products from the semiconductor manufacturing sector, primarily in the APAC region. This, together with a range of growth opportunities that we are pursui
Slide 17: Disclaimer
Disclaimer This document contains statements about Renishaw plc that are or may be forward-looking statements. These forward-looking statements are not guarantees of future performance. They have not been reviewed by the auditors of Renishaw plc. They involve known and unknown risks, uncertainties a