Slide 1: 2021 final results
2021 final results 21 October 2021
Slide 2: Summary
Summary • Revenue growth of 11% to £565.6m Key metrics • Positive year of recovery 2021 2020 Change £m £m % • Strong growth in APAC throughout the year, improving sales in Revenue 565.6 510.2 11% EMEA and Americas in H2 Adjusted profit 119.7 48.6 146% before tax • Adjusted profit before tax up by 14
Slide 3: Transforming Tomorrow Together
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 Manufacturing technologies Analytical instruments and medical devices (formerly Metrology) (formerly Healthcare) Slide 3
Slide 4: Manufacturing technologies; Analytical instruments and medical devices
Manufacturing technologies Analytical instruments and medical devices 2021 2020 Change 2021 2020 Change £m £m % £m £m % Revenue 526.2 475.2 11% Revenue 39.4 35.0 12% Adjusted operating profit 112.6 50.3 124% Adjusted operating profit 5.9 1.4 321% • Record demand for encoders, driven by booming • Gen
Slide 5: Market development – semiconductor and electronics
Market development – semiconductor and electronics • Boom in capex to tackle supply shortages • Demand for consumer electronics increased during the pandemic • Ongoing growth in 5G, 5nm chips, EVs all fuelling demand for semiconductors • Major producers building and equipping new fabs to meet rising
Slide 6: Market development – rising automation
Market development – rising automation • Increasing use of robots and automated machining • Skills shortages driving increased focus on automation • Automated metrology and robots enabling near-shoring • Rising use of 5-axis and multi-tasking machine tools • Increasing manufacturing digitalisation a
Slide 7: Responding to rising demand
Responding to rising demand • Investing in increased manufacturing capacity and automation Automated machining at Miskin • Renishaw has a record order book as our customers seek to increase their demand and secure supply • We have added more than 25% to our manufacturing headcount during 2021 • Supp
Slide 8: Financial highlights
Financial highlights 2021 2020 Change Revenue £m £m £m % 700 611.5 600 574.0 565.6 Revenue 565.6 510.2 11% 536.8 510.2 500 332.0 277.3 400 310.2 298.7 250.8 Adjusted profit before tax 119.7 48.6 146% 300 200 279.5 296.7 Restructuring costs 0.0 (23.8) 100 238.1 259.4 255.4 FV gains / (losses) on inef
Slide 9: Income statement
Income statement 2021 2020 Adjusted profit before tax bridge £m £m % £m % Change Revenue 565.6 100 510.2 100 11% Cost of sales (197.8) (35) (184.3) (36) 7% Engineering (inc. R&D) (72.1) (13) (87.3) (17) -17% Gross profit 295.7 52 238.6 47 24% Distribution costs (110.2) (19) (123.3) (24) -11% Adminis
Slide 10: Sources and uses of cash (incl. bank deposits)
Sources and uses of cash (incl. bank deposits)
Slide 11: Capital expenditure
Capital expenditure Capital expenditure £m • Additions to property, plant and equipment and 60 56.8 vehicles totalled £10.9m. 55 • Lower expenditure in line 50 with expectations following 45 42.6 25.4 significant infrastructure 40 38.7 investments in recent 34.9 35 years. 30 24.2 10 • Planning to in
Slide 12: Our strategy in action
Our strategy in action Engineering Sales & Marketing Creating strong market positions Supporting our customers’ with innovative products and success around the world processes • Current products quality is critical to customer • Supporting customer growth retention and new business development • Win
Slide 13: FORTiS™ enclosed optical encoder
FORTiS™ enclosed optical encoder • High-performance measurement in harsh environments on machining centres, precision tool grinding and semiconductor wafer dicing • Non-substitutional entry into an industry with existing Renishaw presence, reputation and contacts • High fitment rates on precision to
Slide 14: NC4+ Blue (second generation)
NC4+ Blue (second generation) • Industry-first blue laser for high-accuracy tool measurement • Measure tools down to a diameter of 30 µm • Advanced software cycles (e.g. ball-nose profiles, tool run-out, chip detection) • Increased range of sizes to suit more machine types Slide 14
Slide 15: NC4+ Blue and machine tool builders
NC4+ Blue and machine tool builders NC4+ Blue adoption by key OEMs driven by: • Small footprint • Stable and accurate tool-to-tool performance • Wide range of CNC software supported by local staff Slide 15
Slide 16: Electric vehicle metrology solutions
Electric vehicle metrology solutions REVO video probe inspecting crown paper height on harpin stator from EV electric motor • New manufacturing metrology challenges in electric motor assembly and gearbox noise, vibration and harshness (NVH) reduction • Renishaw offers market-leading metrology system
Slide 17: REVO® ultrasonic probe (RUP1)
REVO® ultrasonic probe (RUP1) • Latest addition to REVO 5-axis multi-sensor system • Single-sided measurement of thickness where access to internal features is challenging • Key applications: aircraft landing gear parts, aerospace and power generation drive shafts, and hollow aerospace blades • Meas
Slide 18: Next generation radio transmission probing system
Next generation radio transmission probing system • Ultra-compact RMI-QE design with updated comms protocol and flexible mounting options • Robust and reliable in busy radio environments (patented frequency-hopping spread spectrum radio transmission) • Improved performance and practicality: longer p
Slide 19: Renishaw Central manufacturing connectivity platform
Renishaw Central manufacturing connectivity platform Reporter is an easy-to-use, on-machine app to collect, view and • Consolidated view of manufacturing process export both part and tool measurement data. › Quickly view pass and fail measurement data at the and metrology data, with status dashboard
Slide 20: RenAM 500Q Flex
RenAM 500Q Flex • RenAM 500Q quad-laser metal 3D printer with rapid material change-over • Process development machine that can work on a range of materials to suit different applications • Process parameters and material properties transfer seamlessly to more automated production machines • First c
Slide 21: A sustainable future
A sustainable future • Since 2015 we have reduced our GHG emissions (scopes 1, 2 and measured scope 3) by 39% • 80% of our global electricity use is from renewable sources of which 11% is self-generated • We will shortly be committing to a science-based Net Zero emissions target – the target date wi
Slide 22: Trading update and outlook
Trading update and outlook Key metrics Q1 Q1 2022 2021 Change % £m £m Revenue 157.8 116.9 +35% Adjusted profit before tax 41.7 18.3 +128% Statutory profit before tax 39.3 28.2 +39% • The year has started with a strong first quarter and we currently have a record order book • Strong net cash and bank
Slide 23: 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