Renishaw plc (RSW) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to Renishaw's final results presentation for the 2025 financial year. I'm Will Lee, Chief Executive, and I'm joined by Alan Roberts, Group Finance Director. I'm going to start by talking you through the highlights of our performance this year, followed by Alan's more detailed review of our financial performance. I'll then go through the solid strategic progress that we've made this year and wrap things up with our outlook for the year ahead. FY25 has been a year of solid achievement in what remain challenging market conditions. I'm pleased to report record revenue, increased adjusted profit before tax, as well as strong cash generation. Innovation has always been the lifeblood of our business and this year we have delivered many key new products to market. These have been developed to target specific opportunities and customer needs. A great example of this is our new Equator X gauge and Modus IM software which will exploit the growing trend for shop floor metrology and we are really excited about their impact on our growth in the years ahead. As we discussed at our recent Capital Markets Day, our priority remains profitable growth, but we're also ensuring that we underpin this with a more focused and leaner business. We have taken decisive action this year to reduce our annualised operating costs by around 3% of revenue, which will benefit our performance in FY26 and beyond. Whilst markets remain challenging, we expect steady growth in the year ahead. Let's look at a few of the highlights of our performance in FY25. As I mentioned, we achieved record revenue this year, combined with an increase in adjusted profit. Our organic growth strategy is working well across our portfolio of businesses against a tough economic backdrop. Constant currency growth was 3.7...