REG - Oxford Instruments - Trading Update

Oxford InstrumentsAnnouncement

16/04/2024 07:00

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RNS Number : 7048K  Oxford Instruments PLC  16 April 2024

 

Oxford Instruments plc

Trading Update - 16 April 2024

 

 

Full year trading in line with expectations

Positive momentum in revenue growth

 

Oxford Instruments plc, a leading global provider of scientific technology and
expertise to academic and commercial partners, is today issuing a trading
update for the year ended 31 March 2024.

 

Revenue growth for the year has been strong and is expected to be up around 9%
at constant currency (6% at actual rates) on the prior year. Our
differentiated positions are driving positive momentum, with growth across all
our geographies in our key sustainability-driven and structurally growing end
markets, including advanced materials, life science and semiconductors. While
orders were lower against a strong comparator year and due to a slowdown in
life science OEM orders, our underlying book-to-bill remains positive.

 

Operating margin is expected to be approximately 100bps behind last year,
reflecting losses incurred in our quantum business as a result of ceasing
commercial activities in China, and continued operational investment.

 

We expect adjusted operating profit for the full year ended 31 March 2024 to
be in line with expectations.(1)

 

The Group enters the new financial year with a strong order book providing
good visibility to planned revenues and a good pipeline of growth
opportunities in structurally growing end markets.

 

Oxford Instruments' results for the year ending 31 March 2024 will be released
on 11 June 2024, together with an update on the Group's strategy.

 

On 10 July 2024, we will host an investor and analyst site visit at our new
etch and deposition systems facility in Bristol, which is now operational. The
focus will be on the products and services we provide within the compound
semiconductor industry.

 

 

 

Notes:

 

(1) Adjusted operating profit is before amortisation and impairment of
acquired intangible assets, acquisition items, and the mark-to-market
revaluation of financial derivatives.

 

 

 

Enquiries:

 

 Oxford Instruments plc                                           Tel:  01865 393200

 Richard Tyson, CEO

 Gavin Hill, CFO

 Stephen Lamacraft, Head of Investor Relations

 MHP                                                              Tel:  020 3128 8100

 Katie Hunt/Tim Rowntree/Eleni Menikou/Veronica Farah

 oxfordinstruments@mhpc.com (mailto:oxfordinstruments@mhpc.com)

 

 

 

 

 

- Ends -

 

Issued for and on behalf of Oxford Instruments plc

 

Notes to Editors

 

About Oxford Instruments plc

Oxford Instruments designs, supplies and supports high-technology products
and systems which allow the world's leading companies and scientific research
communities to image, analyse and manipulate materials down to the atomic and
molecular level. The Group's products and services help its customers to
accelerate R&D, increase manufacturing productivity and make
ground-breaking discoveries across its key market segments: Semiconductor
& Communications, Advanced Materials, Healthcare & Life Science,
Energy & Environment and Quantum Technology. 

Innovation is the driving force behind Oxford Instruments' growth and success,
supporting its core purpose to enable a greener, healthier, more connected
advanced society. Founded in 1959 as the first technology business to be spun
out from Oxford University, Oxford Instruments is now a global company
listed on the FTSE250 index of the London Stock Exchange (OXIG). Its
customer-centric, market-focused strategy creates competitive advantage
through understanding the technical and commercial challenges in markets with
long-term structural growth drivers.

 

For more information, visit www.oxinst.com 

 

 

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