Oxford Metrics Plc · LSE:OMG
Oxford Metrics — FY2024 Earnings Presentation
32 slides from Oxford Metrics's earnings presentation, December 2024
Slide 1: Preliminary Results 2023/24
Preliminary Results 2023/24 Imogen O’Connor CEO Zoe Fox CFO December 2024 This presentation is provided on a strictly private and confidential basis to be used solely by the recipient. The presentation nor any of its contents may be reproduced, shared or used for any other purpose without the prior
Slide 2: Agenda
1 PRELIMINARY RESULTS 2023/24 Agenda Overview Financial highlights Capital allocation Oxford Metrics today Capitalising on growth opportunities Outlook and priorities for FY25
Slide 3: Disclaimer
2 PRELIMINARY RESULTS 2023/24 Disclaimer This document and any oral briefing provided in conjunction with this document (the “Presentation”) has been prepared and issued by and is the sole responsibility of Oxford Metrics plc (the “Company”). The Presentation and its contents are directed only at an
Slide 4: Oxford Metrics - Smart sensing and software group
3 PRELIMINARY RESULTS 2023/24 Oxford Metrics - Smart sensing and software group Established in 1984, IPO April 2001 on AIM Subsidiaries: Vicon Motion Systems. Industrial Vision Systems. The Sempre Group Oxford headquarters, offices in UK, USA and Germany Emmy® Award. Academy Award®. AIM Awar
Slide 5: A diversified international customer base
4 PRELIMINARY RESULTS 2023/24 Design updated logo slide A diversified international customer base Engineering Entertainment Life Sciences Smart manufacturing
Slide 6: Vicon Motion Systems – motion capture for life sciences, visual effects and engineering
5 PRELIMINARY RESULTS 2023/24 Vicon Motion Systems – motion capture for life sciences, visual effects and engineering
Slide 7: Industrial Vision Systems – AI powered machine vision systems
6 PRELIMINARY RESULTS 2023/24 Industrial Vision Systems – AI powered machine vision systems for quality control, sorting, inspection and guidance
Slide 8: Introducing Sempre – metrology specialists
7 PRELIMINARY RESULTS 2023/24 Introducing Sempre – metrology specialists for quality control, compliance and lean efficiency
Slide 9: Financials
8 PRELIMINARY RESULTS 2023/24 Financials
Slide 10: FY24 financial headlines by continuing operations
9 PRELIMINARY RESULTS 2023/24 FY24 financial headlines by continuing operations Revenue Gross profit Gross margin % Statutory PBT* Adjusted PBT* £41.5m £27.6m 66.6% £2.8m £3.7m FY23: £44.2m FY23: £28.7m FY23: 65.0% FY23: £7.3m FY23: £7.5m Earnings per share Cash position R&D capitalised Inventory Pr
Slide 11: Adjusted PBT bridge £m
10 PRELIMINARY RESULTS 2023/24 Adjusted PBT* bridge £m Resilient margins Gross margin improved to 66.6% (FY23: 65.0%) increase of 1.6 (1.5) percentage points on 0.4 prior year (1.6) Lower product costs partially offset revenue decrease. Operational cost 7.5 (2.0) increase due to 1.0 (0.7) 0.7
Slide 12: Our track record
11 PRELIMINARY RESULTS 2023/24 Our track record Vicon Revenue £m and annual £50m growth % £45m 44.2 FY20 H2 Covid £40m lockdowns start • US sales contraction 38.6 £35m FY21 – FY23 severe £30m supply chain issues lead to significant 28.6 28.8 £25m 27.5 order book building 24.4 • Buying behaviour
Slide 13: FY24 market factors
12 PRELIMINARY RESULTS 2023/24 FY24 market factors Engineering Revenue £m Entertainment Revenue £m Largest-ever order in Impacted by ongoing history, delivered in FY23 8.7 slowdown in the global 20.7 8.1 and FY24 games industry 15.9 Academic slowdown in UK, Subsequent content USA and Europe
Slide 14: FY23 vs FY24 Vicon Revenue
13 PRELIMINARY RESULTS 2023/24 FY23 vs FY24 Vicon Revenue UK Revenue £m Europe Revenue £m Revenue +34% Revenue +11% Largest-ever UK order in 4.3 Gran Canaria Studios, one of 5.9 history for state-of-the-art 3.2 Europe's largest virtual 5.3 virtual production studio production stages complex
Slide 15: Vicon Revenue by geography £m
14 PRELIMINARY RESULTS 2023/24 Vicon Revenue by geography £m FY17 – FY24 £20m UK FY24 £4.3m (+34% FY23) £18m CAGR 11% £16m Europe FY24 £5.9m £14m (+11% FY23) CAGR 13% £12m £10m North America FY24 £17.1m £8m (-7% FY23) CAGR 6% £6m £4m Asia Pacific FY24 £11.0m (-35% FY23) £2m CAGR 9% £0m 2017
Slide 16: Capital allocation plans
15 PRELIMINARY RESULTS 2023/24 Capital allocation plans £46.7m* £15m - £20m** Cash post Sempre acquisition M&A programme R &D investment Remain debt-free Return capital to shareholders Share buyback Continued progressive programme dividend policy £6m 3.25p (FY23: 2.75p) *£46.7m cash as of 30 Novembe
Slide 17: Positioning the business for future success
16 PRELIMINARY RESULTS 2023/24 Positioning the business for future success Resetting to be a more efficient, agile business while continuing to invest for innovation and growth Annualised cost savings Streamlining operations Maintaining prudent cost control measures £1.2m Reducing discretionar
Slide 18: As we scale multivariable forecasting model needed
17 PRELIMINARY RESULTS 2023/24 As we scale multivariable forecasting model needed Forecasting method Revenue target coverage £m Historical performance and phasing INVOICED SALES Revenue ORDER target BOOK coverage Evidence based (MEDICC) £m opportunity pipeline stages PIPELINE Lead generation contrib
Slide 19: Oxford Metrics today
18 PRELIMINARY RESULTS 2023/24 Oxford Metrics today
Slide 20: Divisional structure
19 PRELIMINARY RESULTS 2023/24 Divisional structure Motion capture & markerless Smart manufacturing Focused end markets Focused end markets Life Science Aerospace Engineering Automotive Entertainment Precision Engineering Medical Pharmaceutical
Slide 21: Smart manufacturing divisional synergies
20 PRELIMINARY RESULTS 2023/24 Smart manufacturing divisional synergies Sales & Product & Head Research & marketing markets office development Grow sales and services Reach new customers, Benefit from Group Grow and develop revenues more efficiently partners and markets back-office synergies IP rich
Slide 22: Opportunity & threat of AI
21 PRELIMINARY RESULTS 2023/24 Opportunity & threat of AI
Slide 23: Opportunity and threat of AI
22 PRELIMINARY RESULTS 2023/24 Opportunity and threat of AI
Slide 24: How Vicon see GenAI tools being used in Entertainment industry
23 PRELIMINARY RESULTS 2023/24 How Vicon see GenAI tools being used in Entertainment industry Passive & Active Gen AI tool Markerless active markers markers Gen AI tool: Markerless: Active motion Passive and active quickly articulate idea iteration, capture markers: motion capture markers: creative
Slide 25: Positioning the business for future success
24 PRELIMINARY RESULTS 2023/24 Positioning the business for future success
Slide 26: Well positioned to capitalise on growth opportunities ahead
25 PRELIMINARY RESULTS 2023/24 Well positioned to capitalise on growth opportunities ahead Expand market share in existing Vicon tech Commercialise Grow IVS in medical markerless Synergies & & contact lens through existing capabilities inspection users and new Develop tech & opportunities acquire in
Slide 27: Outlook and priorities
26 PRELIMINARY RESULTS 2023/24 Outlook and priorities New Vicon Integration of IVS & On track to Build out smart products in the Sempre underway commercialise manufacturing pipeline to to drive growth markerless division via M&A stimulate growth Continued focus Restructure Positioned on cost and bus
Slide 28: Appendix
27 PRELIMINARY RESULTS 2023/24 Appendix
Slide 29: Disciplined and consistent M&A strategy
28 PRELIMINARY RESULTS 2023/24 Disciplined and consistent M&A strategy LEVERAGE STRONG NETWORK OF ADVISORS Identify targets Strict financial criteria Invest in people and Disciplined valuation products Attractive actual or Clear commercial and potential cashflow metrics technical synergies V
Slide 30: Group income statement
29 PRELIMINARY RESULTS 2023/24 Group income statement
Slide 31: Group balance sheet
30 PRELIMINARY RESULTS 2023/24 Group balance sheet
Slide 32: Group cash flow
31 PRELIMINARY RESULTS 2023/24 Group cash flow