Renishaw Plc · LSE:RSW
Renishaw — Investor Day (2026)
51 slides from Renishaw's investor day presentation, 2026
Slide 1: Capital Markets Day 2026
Capital Markets Day 2026 Will Lee Chief Executive Officer John Shipsey Chief Financial Officer
Slide 2: Our goals for today
Our goals for today CMD26 agenda ► Recap on our strategy Market growth >5% Outperformance ► Improving our financial performance Existing Tech New markets value markets ► Accelerating innovation £7b ► Showcasing additive manufacturing Emerge Future Estab ► Break ► Trends and growth drivers in our mar
Slide 3: 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 4: Attractive markets
Attractive markets Positive investment cycle in key industries supporting strong revenue growth Well positioned in markets growing at >5% 1 p.a. ► Investment cycle in semiconductor fabs to support AI datacentre demand Manufacturing machine Industrial performance automation ► Continued innovation in
Slide 5: Our strategy to outperform our markets
Our strategy to outperform our markets from commercial strategy, focused execution and portfolio growth Strategy driving consistent outperformance Manufacturing technology powerhouse Growing in Increasing Extending into ► Innovating for an automated, sustainable existing markets technology value new
Slide 6: Our goals for today
Our goals for today CMD26 agenda ► Recap on our strategy Market growth >5% Outperformance ► Improving our financial performance Existing Tech New markets value markets ► Accelerating innovation £7b ► Showcasing additive manufacturing Emerge Future Estab ► Break ► Trends and growth drivers in our mar
Slide 7: Our financial targets
Our financial targets Through-cycle Adj. operating Adj. cash flow Return on revenue growth1 profit margin2 conversion2 invested capital2 Target: HSD%3 Target: 20% Target: 70% Target: 15% Notes 1. Compound annual revenue growth over a rolling 5-year period 2. Refer to note 29, Alternative performance
Slide 8: Accelerating growth
Accelerating growth Revenue growth ► Existing drivers: ► Target = HSD% ► Core businesses well positioned in attractive markets Through-cycle revenue growth 12% ► Emerging businesses expanding rapidly 10% 10% 8% 8% 7% ► Innovative new products gaining traction 5-year revenue CAGR 6% 4% 4% 2% 2% 0% ►
Slide 9: Improving operating margins
Improving operating margins Adjusted operating profit margin ► Existing drivers: ► Target: exceed 20% ► Currency headwind throughout FY26 ► Efficiency improvements 30% ► Operating leverage from accelerating growth 24% 25% 21% 19% 20% 16% 16% 16% 15% ► Future opportunities: 10% ► Further operating le
Slide 10: Cash generation
Cash generation Cash conversion1 ► Existing drivers: ► Target: exceed 70% ► Capex and working capital correlated to the business cycle 120% 103% 100% 91% 80% ► Future opportunities: 70% 66% 60% 68% ► Increased focus 40% ► Non-production capex 20% 26% ► Working capital 0% 21 22 23 24 25 26 H1 Notes 1
Slide 11: Return on capital
Return on capital Return on invested capital1 ► ROIC >15% to follow from: ► Target: exceed 15% ► Revenue growth ► Margin improvement 25% 24% ► Cash conversion 20% 18% 16% 15% 13% 13% 10% 12% 5% 0% 21 22 23 24 25 26 H1 Notes 1. Adjusted profit after tax before bank interest receivable as a percentage
Slide 12: Our goals for today
Our goals for today CMD26 agenda ► Recap on our strategy Market growth >5% Outperformance ► Improving our financial performance Existing Tech New markets value markets ► Accelerating innovation £7b ► Showcasing additive manufacturing Emerge Future Estab ► Break ► Trends and growth drivers in our mar
Slide 13: Accelerating innovation
Accelerating innovation Our innovation engine is powering our progress, with an exciting roadmap ahead Growing in Increasing Extending into existing markets technology value new markets ► High-performance sensors ► High-growth emerging ► High-growth new market to lead the market businesses opportuni
Slide 14: Innovation in industrial metrology sensors
Growing in Innovation in industrial metrology sensors existing markets New metrology sensors coming in FY27 ► New generation of machine tool probing systems, enabling advanced on-machine metrology for high-value components, generating more revenue per machine ► Enhanced 5-axis motorised probe head f
Slide 15: Innovation in position encoders
Growing in Innovation in position encoders existing markets Meeting the evolving needs of semiconductor manufacturing 1.5D optical ► 1.5D optical encoders for precision motion applications encoder such as advanced packaging and hybrid bonding ► Next-gen laser encoders providing ultra-precise motion
Slide 16: Innovation in metrology systems
Increasing Innovation in metrology systems technology value Gaining market share in shop-floor process control Equator-X gauge ► EQUATOR-X shop floor gauge, delivering new levels of measurement speed and precision ► MODUS IM Equator metrology software enabling efficient direct sales and new distribu
Slide 17: Innovation in new markets
Extending into Innovation in new markets new markets Diversification into close-adjacent markets ► ASTRiA inductive encoder complements Renishaw’s magnetic and optical encoders for precision motion control ASTRiA inductive in harsh environments encoder ► Growing demand for a range of ground-based an
Slide 18: Strategy Q&A
Strategy Q&A ► Attractive markets ► Accelerating innovation ► Improving operating margins ► Focus on cash generation and return on capital Will Lee John Shipsey Chief Executive Officer Chief Financial Officer | 18
Slide 19: Additive Manufacturing Strategy
Additive Manufacturing Strategy Louise Callanan Director of Specialised Technologies Matt Parkes AM Strategic Development Manager
Slide 20: Our goals for today
Our goals for today CMD26 agenda ► Recap on our strategy Market growth >5% Outperformance ► Improving our financial performance Existing Tech New markets value markets ► Accelerating innovation £7b ► Showcasing additive manufacturing Emerge Future Estab ► Break ► Trends and growth drivers in our mar
Slide 21: Additive Manufacturing at Renishaw
Additive Manufacturing at Renishaw Share of Segment Group sales 1 High-growth emerging business Industrial Metrology 57% ► Entry in 2011 via acquisition ► Our biggest bet – long-term investment now paying dividends: Position Measurement 32% ► £1b addressable market, growing @ 15% ► Largest Specialis
Slide 22: Technology introduction
Technology introduction Metal laser powder bed fusion 1. 2. 3. RenAM 500Q Ultra Spreading Lasers Moving for multi-laser AM powder firing next layer machine | 22
Slide 23: AM demand drivers
AM demand drivers drivers Why AM is gaining traction in more production applications Product Supply Manufacturing performance chain cost Complex, light-weight and Faster development and Eliminating costly multi- efficient products flexible capacity stage operations Hydraulic manifold (credit: Domin)
Slide 24: Our growth strategy
Our growth strategy Accelerate the adoption of metal AM as a viable high volume production process Commercial Product Key accounts Mid-size machine Volume applications Cost-per-part & consistency leadership Aftersales software & services Support for key applications | 24
Slide 25: Current platform innovation
Current platform innovation Boosting productivity and consistency Optical System Verification kit TEMPUS technology LIBERTAS technology* ► Process stability using ► Patented productivity boost: ► Advanced laser control: less traceable calibration artefact halves cycle time waste and wider applicatio
Slide 26: Application success
Customer applications Application success ► Key accounts across diverse sectors, with multiple machines, both mature and emerging ► Internal adoption with performance and cost benefits across metrology portfolio Suppressors for back-pressure control Tibial trays for knee replacement surgery Internal
Slide 27: Future investment: research and development
Future investment Research and development Next generation platform ► Cost-effectiveness – multiplier through managed system cost and higher utilisation ► Scalability – support for volume production ramp with enhanced connectivity and serviceability ► Precision – retaining industry leading part prop
Slide 28: Future investment: manufacturing
Future investment Manufacturing Scaling manufacturing capacity in Miskin, South Wales ► Cell based manufacturing line ► Floor capacity to support double demand increase ► Purchasing forecasting on short, medium and long-term lines ► Dual sourcing for key fabrications | 28
Slide 29: Additive Manufacturing Q&A
Additive Manufacturing Q&A ► Active in largest metal AM segment with strong outlook ► Key account success through target sectors, with structural growth drivers ► Innovations targeting cost-effectiveness & scalability ► Internal manufacturing deployment and scale-up Louise Callanan Director of Speci
Slide 30: Our goals for today
Our goals for today CMD26 agenda ► Recap on our strategy Market growth >5% Outperformance ► Improving our financial performance Existing Tech New markets value markets ► Accelerating innovation £7b ► Showcasing additive manufacturing Emerge Future Estab ► Break ► Trends and growth drivers in our mar
Slide 31: Additive Manufacturing strategy Appendix
Additive Manufacturing strategy Appendix | 31
Slide 32: AM market summary
Systems AM market summary Plastic - $6.2 bn Metal - design industrial & design $0.3 bn $1.6 bn Plastic - desktop $2.8 bn Others, $0.3 bn Metal $1.0 bn Metal powder-bed fusion Market outlook & position 2025 $1.3 bn Materials ► PBF >80% of metal AM $4.9 bn market Plastic ► Metal PBF segment grew Metal
Slide 33: End-market success opportunities
End-market success opportunities Renishaw machine revenue by end- market (FY23-26) Other Energy 3% 4% Academia 5% Automotive 5% Medical & Aerospace & Consumer dental defence electronics Consumer Aerospace Orthopaedic implants Signature reduction Consumer electronics Applications electronics 6% & def
Slide 34: Markets & growth drivers
Markets & growth drivers Marc Saunders Director of Group Strategic Development
Slide 35: Our goals for today
Our goals for today CMD26 agenda ► Recap on our strategy Market growth >5% Outperformance ► Improving our financial performance Existing Tech New markets value markets ► Accelerating innovation £7b ► Showcasing additive manufacturing Emerge Future Estab ► Break ► Trends and growth drivers in our mar
Slide 36: Diverse portfolio of growing businesses
Diverse portfolio of growing businesses Addressable Share of 5-year CGAR Growth in Operating Segment market 1 Group sales 2 to FY25 3 FY26 4 margin 5 Industrial Metrology £3.4b 57% 6% 8% 15% Position Measurement £2.3b 32% 11% 22% 23% Specialised Technologies £1.3b 11% 4% 25% (1%) Notes 1. Refer to n
Slide 37: Targeting market share growth in substantial markets
Targeting market share growth in substantial markets Lab & clinical solutions Raman, neurological solutions £0.3b Metrology systems £2.3b CMMs, gauging, software Metal power bed AM laser & E-beam melting £1.0b FY2026 developments V ► Strong market growth in precision encoders and £7bn addressable me
Slide 38: Serving a broad range of industries
Serving a broad range of industries1 26E Share of group revenue End-use industry share 100% Healthcare 3% ► Diverse sectors, including durable 90% Research 5% structural end markets Energy 6% 80% Consumer electronics 10% ► Technology for next wave of 70% precision manufacturing capex, with Automotiv
Slide 39: Strong positions in key geographic markets
Strong positions in key geographic markets China USA ► Maintaining market leadership with ► Early adopter of innovative manufacturing differentiated products & technical support technologies ► Local ‘good enough’ competitors stimulating ► Accelerating AI and defence investment new demand and constra
Slide 40: Manufacturing technology powerhouse
Manufacturing technology powerhouse Essential technologies enabling advanced manufacturing Component Semiconductor Additive Industrial machining fabrication manufacturing robotics V V V V V V Notes: | 40
Slide 41: Machine tool market dynamics
Machine tool market dynamics Improving demand for high-end equipment, but some sectors still weak JMTBA monthly data in JPY JMTBA monthly data in USD 200 1,800 Machine tool market trends 3-month average monthly orders / sales (bJPY) 3-month average monthly orders / sales ($m) 180 1,600 ► JMTBA repor
Slide 42: Renishaw in the machine shop
Renishaw in the machine shop Metrology enables automated production of precision components Machine performance On-machine Next-to-line End-of-line ► Calibration ► Part & tool ► Shop-floor ► Multi-sensor setting gauges & CMMs inspection ► Enclosed encoders ► On-machine ► Intelligent ► Verify inspect
Slide 43: Semicon manufacturing equipment market dynamics
Semicon manufacturing equipment market dynamics Strong underlying growth with a cyclical overlay Semicon equipment capex ($b) 200 Semicon equipment capex trends Semicon manufacturing equipment capex ► 10% CAGR since 2015 ► Investment cycles driven by waves of 150 digitisation, electrification and AI
Slide 44: Renishaw in the fab
Renishaw in the fab Position encoders enabling manufacturing of advanced semiconductors Wafer inspection Wafer handling Advanced packaging Back-end & electronics ► Laser encoders ► Precision optical ► Multiple axes ► Wide range of with picometer rotary encoders semicon & electronics resolution ► Mul
Slide 45: Markets Q&A
Markets Q&A ► Diverse portfolio of growing businesses ► Serving a broad range of industries ► £7b SAM with leading market positions ► Opportunities to gain share in markets with strong long-term growth potential Marc Saunders Director of Group Strategic Development | 45
Slide 46: Closing Q&A
Closing Q&A Will Lee Chief Executive Officer
Slide 47: Markets and growth drivers Appendix
Markets and growth drivers Appendix | 47
Slide 48: Additive manufacturing market dynamics
Additive manufacturing market dynamics Significant long-term growth opportunity AM market trends ► AM technology is now maturing and is being increasingly used for volume production ► Demand drivers include higher product performance, lower AM part costs and supply chain simplification ► Pick-up in
Slide 49: Renishaw in additive manufacturing
Renishaw in additive manufacturing Leading the transition to productive industrial AM Long-life filter Technology leader in metal Accelerating industrial adoption powder-bed fusion ► Aerospace & defence ► Leading productivity and build quality in the volume mid-size ► Orthopaedic and dental implants
Slide 50: Industrial robotics market dynamics
Industrial robotics market dynamics Substantial asset class with high growth potential Robot installations (‘000s) 700 Industrial robotics market trends ► Increasing robot ‘density’ in advanced 600 economies 500 ► Consumption dominated by China, with over 50% of global installations in 2024 400 ► St
Slide 51: Renishaw in robotics
Renishaw in robotics Bringing machine tool precision to industrial robotics Image courtesy RLS d.o.o. Motion control Set-up & health checks On-robot metrology ► Position encoders for ► Rapid set-up, diagnostics ► Automate process set-up industrial robots, cobots & recovery and recovery and humanoids