Slide 1: 2022 final results
2022 final results 15 September 2022
Slide 2: Financial summary
Financial summary Half-year revenue £m 400 350 • Revenue growth of 19% to £671.1m 300 69.1 79.2 67.0 • Adjusted profit before tax increases by 37% to £163.7m 250 65.4 67.2 63.6 51.7 54.7 • End of period cash and bank deposits rise by 18% to £253.2m 200 94.6 95.5 110.3 100.1 101.2 78.3 74.5 150 89.0
Slide 3: Financial summary: key metrics 2022 vs 2021
Financial summary Key metrics – 2022 vs 2021 2022 2021 Change £m £m % • Adjusted profit before tax increases by 37% to £163.7m Revenue 671.1 565.6 19% Adjusted profit • Return on sales increased to 24% (2021: 21%) before tax 163.7 119.7 37% Statutory profit 145.6 139.4 4% • Inflationary pressures be
Slide 4: Manufacturing technologies and end market overview
Manufacturing technologies1 End market overview 2 Agriculture & construction Others Healthcare 2% 5% 3% Research Precision 3% manufacturing Power generation & 29% resource extraction 5% Aerospace 12% 2022 2021 Change £m £m % Automotive Revenue 634.6 530.4 20% 14% Electronics Adjusted operating profi
Slide 5: Analytical instruments and medical devices and end market overview
Analytical instruments and medical devices1 End market overview 2 Automotive Others 1% 10% Energy 5% Electronics 6% Research 52% 2022 2021 Change £m £m % Healthcare 26% Revenue 36.5 35.1 4% Adjusted operating profit 2.7 4.5 -40% • Strong growth in spectroscopy revenues in H2 as backlog of duty-exemp
Slide 6: Financial highlights
Financial highlights Revenue £m 2022 2021 Change 800 £m £m % 671.1 700 611.5 574.0 565.6 600 Revenue 671.1 565.6 19% 510.2 500 345.9 332.0 277.3 400 310.5 250.8 Adjusted profit before tax 163.7 119.7 37% 300 200 279.5 296.7 325.2 259.4 255.1 FV gains / (losses) on ineffective FX cash 100 (8.3) 22.9
Slide 7: Income statement
Income statement Adjusted profit before tax bridge £m 2022 2021 £m % £m % Change Revenue 671.1 100 565.6 100 19% Cost of sales (235.0) (35) (197.8) (35) 19% Engineering (inc. R&D) (78.6) (12) (72.1) (13) 9% Gross profit 357.5 53 295.7 52 21% Distribution costs (122.4) (18) (110.1) (19) 11% Administr
Slide 8: Capital expenditure
Capital expenditure Capital expenditure £m • Main investments were to increase manufacturing 60 56.8 capacity and process 55 improvement 50 • New distribution facility in 45 25.4 South Korea to provide 40 38.7 demonstration capability for 34.9 35 our capital goods lines cost 30.8 £3.7m 30 10.0 5.7 W
Slide 9: Sources and uses of cash & deposits
Sources and uses of cash & deposits Slide 9
Slide 10: Our strategy in action: routes to success
Our strategy in action: routes to success Sales by channel (FY22) Global customer support includes all routes to market Distribution 20% Manufacturing technologies: • Machine builder focus – innovative products to Machine gain market share builders 55% End user • Diversification into close-adjacent
Slide 11: Our strategy in action: machine builder focus
Our strategy in action: machine builder focus Focused on gaining market share: • We are focused on what additional benefits we can bring to our machine builder customers and their end-users • Our strong long-term relationships and trust gives us an opportunity to introduce new products where our com
Slide 12: Our strategy in action: diversification
Our strategy in action: diversification Focused on close adjacent market segments: • FORTiS™ range of enclosed encoders very positively received by longstanding machine tool builder customers; market demand stronger than expected • product innovation allowing easier installation proving very popular
Slide 13: Our strategy in action: end user focus
Our strategy in action: end user focus Focused on high value solutions and repeat business: • Through product differentiation aiming to sell more high-value products to end- user accounts • Success with the REVO® 5-axis system which allows our customers to carry out more inspection operations on a C
Slide 14: Our strategy in action: Analytical instruments & medical devices
Our strategy in action: Analytical instruments & medical devices inLux SEM Raman interface Spectroscopy • Expanding into new markets beyond the laboratory with portable products for remote sample analysis, including production environments for process monitoring (e.g. Virsa™ fibre-fed spectrometer)
Slide 15: A sustainable future
A sustainable future • Committed to independently verified science-based Net Zero emissions targets and reporting against relevant UN Sustainable Development Goals (SDGs) • Net Zero for Scopes 1 & 2 by 2028 and all scopes by 2050 at the latest • GHG emissions: from FY2018 to FY2022 we reduced scopes
Slide 16: People
People We are investing to attract, develop and retain the skilled employees that we need to pursue the attractive opportunities that we face • Implementing changes to our reward, career progression and performance review processes • We are committed to offering competitive pay and benefits and unde
Slide 17: Business environment and Outlook
Business environment and Outlook Market demand: • Positive start to FY2023 and our order book remains strong • Uncertain capex demand growth from semicon & electronics • Continued investment in ULEV transport, defence, additive, robotics Supply chain pressures easing: FORTiS™ enclosed encoder for ma
Slide 18: 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