Oxford Instruments (OXINF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Okay, good morning everyone and thanks for joining us here in the room and online for our half year results presentation. With me this morning is the familiar face of our CFO, Gavin Hill. So these results are good and they would have been even better but for some weakness in the healthcare and life sciences market. The order book remains strong, giving us good visibility into the second half we've made real inroads into our strategic priorities to improve, rebalance, and simplify the business. And all of this reinforces our confidence that we can improve returns from the business in the medium term as we articulated in June. More on that later. Gavin will be taking you through the detail of the results, but first, some highlights from me. It was a good first half performance with 10.4% revenue growth coming from both divisions supported by our market leading differentiated technology. And just to be clear, all the numbers on this slide are at constant currency. The performance has been driven by stronger growth in the market for new materials and even stronger growth in semiconductor, which more than offset the software healthcare and life science market. Operating profit at group level is at 3.6%, driven by great performance in imaging and analysis. They delivered 5.4% profit growth and continued to maintain excellent margins, more than 24%. Overall, this division contributes the vast majority of profit for the group. At group level, margin of 16.3%, 110 basis points below last year, as expected, reflects the mix and stronger growth from our advanced technologies division, which delivers lower margin, and the ongoing investments that we're making. Underlying book to bill is positive at 1.01, and the strong order book continues to provide good visibility into H2. And...