Renishaw Plc · LSE:RSW
Renishaw — Investor Day (2014)
55 slides from Renishaw's investor day presentation, 2014
Slide 1: Welcome to the Renishaw plc Investor's Day
Welcome to the Renishaw plc Investor’s Day This room has a hearing aid loop amplifier system - please switch your device to the appropriate setting Please ensure that mobile phones are switched off
Slide 2: Housekeeping
Housekeeping • Mobile phones • Fire Alarms • First aiders • Refreshments • No photos during tours/demos • Copies of presentations • Groups – New Mills/Charfield & New Mills tours • Timings/Questions
Slide 3: Agenda
Agenda • Opening address • Corporate overview • Financial overview • Metrology, Healthcare & Additive overviews • Q&A ------------------------------------Split to 2 large groups--------------------------------------- • Metrology/Additive (New Mills)……….Healthcare incl. demos (Charfield) ------------
Slide 4: Welcome!
Welcome ! Dr David Grant John Jeans Non-executive Allen Roberts Geoff McFarland Non-executive director Norma Tang Group Group Engineering Ben Taylor director Finance Director Director Head of Legal Assistant Chief John Deer Carol Chesney and Executive Deputy Chairman Non-executive Company Secretary
Slide 5: Corporate Overview
Corporate Overview Ben Taylor Assistant Chief Executive Renishaw plc
Slide 6: The Renishaw Vision
RENISHAW.& apply innovation™ The Renishaw Vision “Over the years, John Deer and | have tried to build a company that is different to most others. Different in how we apply technology to real world problems; in how we invest for the long term; in how we manufacture rather than outsource; in how we tr
Slide 7: The Renishaw Corporate Mission
The Renishaw Corporate Mission Renishaw fundamentally believes that success comes from innovative and patented products, efficient, high-quality manufacturing, and the ability to provide local customer support in our expanding Global markets. Our business is the application of metrology (the science
Slide 8: Our business is founded on innovation
Our business is founded on innovation • Patents and Intellectual property • Research & development • Process know-how
Slide 9: Corporate services supporting R&D divisions
Corporate services supporting R&D divisions • Manufacturing • Group sales & marketing • Finance, Legal, HR and Business Systems
Slide 10: Diverse business sectors
Diverse business sectors •Metrology •Additive •Healthcare Manufacturing
Slide 11: The Renishaw Corporate Strategy
The Renishaw Corporate Strategy We identify customer needs, create patented engineering solutions and deliver successful outcomes.
Slide 12: The Renishaw Corporate Strategy: Innovation
The Renishaw Corporate Strategy Innovation • Our businesses and employees ‘apply innovation’ - in the decisions we take, the processes we make, the products we invent and the solutions we deliver. • We continue to innovate and protect our established core businesses whilst acquiring a diverse but co
Slide 13: The Renishaw Corporate Strategy: Customer needs
The Renishaw Corporate Strategy Customer needs • All areas of our organisation work in partnership with their customers to understand and solve their current real-life problems. • We solve them by looking beyond what they believe they want, to identify what they need. • Our organisation is also forw
Slide 14: The Renishaw Corporate Strategy: Engineering solutions
The Renishaw Corporate Strategy Engineering solutions • Renishaw is proudly an engineering company. • Design or process ideas are formulated and thoroughly verified to deliver robust, high-quality products. • Renishaw’s consistent commitment to investment in R&D enables us to take a longer term view
Slide 15: The Renishaw Corporate Strategy: Successful outcomes
The Renishaw Corporate Strategy Successful outcomes • We are a highly vertically integrated company to assure success for our customers. We undertake not only design activities, but also critical other activities such as our in-house manufacturing and wholly-owned sales organisations. • We ensure th
Slide 16: The Renishaw Corporate Business Model
The Renishaw Corporate Business Model • Investment Continual • Innovation research creating strong • Products • Continued integration market positions • New opportunities with innovative Building the products Efficient high- • Risk reduction business via quality acquisition manufacturing • Increased
Slide 17: Financial Overview
Financial Overview Allen Roberts Group Finance Director Renishaw plc
Slide 18: Highlights – 3rd quarter IMS
Highlights – 3rd quarter IMS • Third quarter growth in revenue and profit at constant exchange rates • Revenue growth in the Americas, the Far East and the UK • Good growth in our additive manufacturing, encoders and measurement automation product lines • New product releases during the period inclu
Slide 19: Group Revenue and Profit before tax (PBT)
Group Revenue and Profit before tax (PBT) (Adjusted and restated) Revenue – 3rd quarter 2014 Revenue 120 100 • Revenue of £84.5m, +3% compared with last year at 80 actual fx rates £m 60 40 • Revenue of £88.4m, +8% compared with last year at 20 constant fx rates 0 2013 Q1 2013 Q2 2013 Q3 2013 Q4 2014
Slide 20: Group Metrology and Healthcare revenue
Group Metrology and Healthcare revenue Metrology Metrology 100 80 • 9 months to 31st March 2014, £229.5m compared £m 60 to £237.3m last year, a reduction of 3% 40 • Tough comparators due to exceptionally high 20 revenue from Far East customers in the first quarter last year 0 2013 Q1 2013 Q2 2013 Q3
Slide 21: Group developments and group cash
Group developments and group cash • Sale of shareholding in Delcam plc realised £32.0m with a resultant profit of £26.3m. – It is our intention that the proceeds arising will be used to support ongoing and future investments in the business • Acquisition of Advance Consulting and Engineering Inc (US
Slide 22: Capital Expenditure
Capital Expenditure • Property – Nearing completion of 153,000sq ft building at New Mills providing for relocation of a number of activities in Gloucestershire – Purchase of adjoining premises at Renishaw GmbH, Germany giving an additional 116,000sq ft. – Purchase of property in Shanghai required to
Slide 23: Capital expenditure - property: New Mills
Capital expenditure - property Renishaw New Mills
Slide 24: Capital expenditure - property: GmbH
Capital expenditure - property Renishaw GmbH
Slide 25: Capital expenditure - property: Shanghai
Capital expenditure - property Renishaw Shanghai
Slide 26: Capital expenditure - property: Miskin
Capital expenditure - property Miskin • Renishaw has submitted a planning application for 1.74 million sq ft of development in South Wales, on a 77 hectare site. • Renishaw completed the purchase of the 461,000 sq ft facility in September 2011 and has refurbished 135,000 sq ft of space. existing bui
Slide 27: Metrology Overview
Metrology Overview Ben Taylor Assistant Chief Executive Renishaw plc
Slide 28: Our metrology customers
Our metrology customers Aerospace Agriculture Automotive Consumer products Construction Medical Power Quarrying generation and mining
Slide 29: Our expertise – Manufacturing process control
Our expertise – Manufacturing process control Co-ordinate Fixtures measurement Post- products process Gauging monitoring Machine tool In-process control probe and tool setting systems Process setting Calibration and performance Process foundation testing products
Slide 30: Our expertise – Industrial metrology
Our expertise – Industrial metrology Additive Motion control manufacturing Large scale Styli for probe metrology and systems surveying
Slide 31: Our service, our customer's solution
Our service, our customer’s solution End user Customer Hardware retrofits training Custom Applications turnkey engineering solutions Consumables Consultancy OEM fitment supply Worldwide Advanced service & Software products support
Slide 32: Helping our customers succeed
Helping our customers succeed “We looked at the whole production cycle time and in some cases were able to reduce it by up to 50%.” Alp Aviation (Turkey) “REVO®, the flexible measuring system, significantly increases our measuring capacity and also scans deep-set features with high accuracy.” MTU Fr
Slide 33: Helping our customers succeed
Helping our customers succeed “For our machining cell, there was no other cost- effective, shop-floor measuring tool comparable to the Equator.” “Throughout our use of Conroe (USA) CNC machines we have had a close relationship with Renishaw – the flexibility and willingness to assist has always been
Slide 34: Awards
Awards Queens’s Award for Enterprise : Innovation Renishaw’s inVia 17th Renishaw Queen’s Award MWP Awards Decade of Business Sir David McMurtry Callendar “Lifetime Achievement Award” Excellence Medal The Daily Telegraph Renishaw Fixtures Institute of Measurement “…recognises the business “Best Workh
Slide 35: Visits
apply innovation™ apply innovation™ recision 4 = = Make a difference
Slide 36: Healthcare Overview
Healthcare Overview Geoff McFarland Group Engineering Director Renishaw plc
Slide 37: Our expertise – Healthcare and additive manufacturing
Our expertise – Healthcare and additive manufacturing Dental scanners, Raman CAD software, microscopes and milling machines analysis and structures Neurosurgical planning Diagnostic software, systems for implantables and clinical research robotics Additive manufacturing
Slide 38: Leveraging our core technologies and expertise
Leveraging our core technologies and expertise • Our metrology and healthcare businesses are interconnected • We employ core metrology technologies and manufacturing expertise which minimises technology risks e.g. – dental CAD/CAM products utilise proven measurement sensors, encoders and software –
Slide 39: Our expertise – Healthcare and additive manufacturing
Our expertise – Healthcare and additive manufacturing Dental scanners, Raman CAD software, microscopes and milling machines analysis and structures Neurosurgical planning Diagnostic software, systems for implantables and clinical research robotics Additive manufacturing
Slide 40: What is additive manufacturing (metal 3D printing)?
What is additive manufacturing (metal 3D printing)? Renishaw laser melting system demonstration
Slide 41: Why additive manufacturing for Renishaw?
Why additive manufacturing for Renishaw? • We understand metal-based AM technology – its strengths and weaknesses • We are a long-term user of the technology – product development and dental manufacture • It’s an emerging manufacturing technology in sectors where we are already a trusted supplier •
Slide 42: Progress in additive manufacturing
Progress in additive manufacturing • Purchased MTT, in April 2011 with 35 employees • Now fully integrated as the Additive Manufacturing Products Division • Further staff in manufacturing, engineering & subsidiaries working on the AM product line • Significant re-engineering of the original machine
Slide 43: Progress in additive manufacturing
Progress in additive manufacturing New 1,200 m² production area at Miskin
Slide 44: Progress in additive manufacturing
Progress in additive manufacturing • In May 2013 acquired the business assets of German company LBC • Experts in the design of conformal cooling channels for mould tools and tool inserts for injection moulding and die-casting applications • Channels follow the geometry of the part, maintaining an op
Slide 45: Healthcare applications for additive manufacturing: Dental structures
Healthcare applications for additive manufacturing Dental structures Renishaw has produced additively manufactured crowns and bridges for several years. We now sell and utilise our own AM machines for dental market applications. New developments include implant supported crowns and bridges where pre
Slide 46: Healthcare applications: Maxillofacial reconstruction
Healthcare applications for additive manufacturing Maxillofacial reconstruction Renishaw is leading a Technology Strategy Board funded project (‘ADEPT’) to develop facial implants for patients who have suffered head trauma
Slide 47: Healthcare applications for additive manufacturing
Healthcare applications for additive manufacturing Warning: Graphic images ‘3D printer helped rebuild my face’ (BBC – March 2013)
Slide 48: Our expertise – Healthcare and additive manufacturing
Our expertise – Healthcare and additive manufacturing Dental scanners, Raman CAD software, microscopes and milling machines analysis and structures Neurosurgical planning Diagnostic software, systems for implantables and clinical research robotics Additive manufacturing
Slide 49: Neurosurgery: Renishaw systems approach
Neurosurgery: Renishaw systems approach neuro | mate® neuro | inspire™ IP & Approvals neuro | surgical tooling neuro | administration sets neuro | guide™
Slide 50: Neurosurgery
Neurosurgery • We have continued to invest in our Neurological products and have seen significant progress in this area over the last year – Last week FDA gave clearance to market neuromate in USA • Sales success with our neuromate® robot and neuroinspire® software which assist surgeons with a varie
Slide 51: Neurosurgery: oncology intra-parenchymal delivery trials
Neurosurgery: oncology intra-parenchymal delivery trials Delivery system Transcutaneous port Combination of additive and Drug administration set subtractive manufacture
Slide 52: Neurosurgery: oncology intra-parenchymal delivery trials
Neurosurgery: oncology intra-parenchymal delivery trials Transcutaneous port Combination of additive and subtractive manufacture
Slide 53: Neurosurgery
Neurosurgery ‘Parkinson's new treatment tried at Frenchay Hospital’ (BBC – 9th October 2013)
Slide 54: Questions for the Board
Questions for the Board This room has a hearing aid loop amplifier system - please switch your device to the appropriate setting Please ensure that mobile phones are switched off
Slide 55: Agenda
Agenda • Refreshments ------------------------------------Split to 2 large groups--------------------------------------- • Metrology/Additive (New Mills)……….Healthcare incl. demos (Charfield) ------------------------------------------LUNCH----------------------------------------------------- • Healt