Oxford Instruments (OXINF) Q4 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the Oxford Instruments full year results presentation. I'm here today with our CFO Paul Fry and thank you for joining us. We're really pleased with these results which cap off a good year and given the headwinds some great outcomes. Clearly a game of two halves, maybe even four quarters and a strong finish while making significant progress with our strategy. All of this puts us in a really good place for the current year and beyond. So first I'll cover the highlights. Paul will take you through the financials and I'll return more on our markets, our strategic progress and look into next year. There will as always be the opportunity for questions at the end, both here in the room and online. We've delivered a really strong performance in the second half and a good full year performance. Paul and I are really proud of what our teams have achieved against a very challenging market backdrop, particularly in the early months of the year, which mostly impacted imaging and analysis, where Q1 orders, to remind you, fell 11%. The year ended strongly, though, slightly ahead of expectations. We saw quarter-on-quarter improvement in order intake, with the second half ending up 8%. Demand in advanced technologies was consistently strong throughout the year, with order intake growth of 28%. Here, we've made significant progress on our shift to serve more high-volume manufacturing customers, which are the source of all the volume improvement. In addition, we received a large multi-year order in the early weeks of the year, supporting even better visibility for FY27. In imaging and analysis, really good operational execution ensured revenue and profit both recovered in the second half and growth returning in H2. The profit improvement was a result of our actions taken to ...