REG - Oxford Instruments - Trading Update

Oxford InstrumentsAnnouncement

16/04/2025 07:00

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RNS Number : 1833F  Oxford Instruments PLC  16 April 2025

 

 

Oxford Instruments plc

Full-year trading update - 16 April 2025

 

Strong H2 delivered - full-year trading in line with expectations

Good progress on execution of the strategy

 

 

Oxford Instruments plc, a leading provider of scientific technology and
expertise to academic and commercial partners, is today issuing a trading
update for the year ended 31 March 2025.

 

We have delivered a strong full-year performance, in line with expectations.
This has been underpinned by continued momentum in order intake and good
progress on the execution of our strategy. We are seeing the benefits of the
actions we have taken to drive operational excellence, improve commercial
execution, and bring a greater focus on our costs.

 

Revenue growth in the second half has been strong, as anticipated, resulting
in full-year revenue growth expected to be around +9% at constant currency(1)
(+6% at actual rates) versus the prior year. Demand has remained healthy, with
3% year-on-year order growth at constant currency.

 

Full-year adjusted operating profit(2) is expected to be up around 13% on a
constant currency basis (3% at actual rates), in line with market
expectations. Group constant currency adjusted operating margin is expected to
be around 17.8% (16.5% at actual rates), up 70 bps year on year with margin
progress in both divisions.

 

Our Imaging & Analysis division, which represents two-thirds of Group
revenue and around 90% of its operating profit, has performed well, growing
both orders and revenue whilst maintaining its excellent operating margin
above 24% at constant currency. Semiconductor revenues have grown strongly
and, along with materials analysis, have offset continuing softness in the
healthcare and life science end market.

 

Our Advanced Technologies division has delivered strong double digit constant
currency revenue growth. As anticipated, we delivered a number of large
customer orders in our quantum business which, together with operational
improvements, resulted in a return to profitability. We have also continued to
grow our compound semiconductor business in its new facility and increase our
Tier 1 customer base, achieving both double-digit revenue growth and a margin
improvement.

Richard Tyson, CEO, commented:

 "I am very pleased with how the team have embraced the strategy, delivering
strong results despite the macro volatility seen in H2 and the execution of
our pivot away from certain market segments in China."

"We continue to closely monitor and adapt to the potential impacts of macro
events. Oxford Instruments' growth and resilience is underpinned by our
diversified portfolio of market-leading technologies, deployed in multiple
structurally growing sectors across all the major geographies. In addition,
there are significant opportunities within our own control, as we accelerate
our operational transformation programme, work to simplify and standardise our
business, and drive a continued critical focus on product profitability."

Oxford Instruments management will present its full-year results to analysts
and investors at Deutsche Numis, 45 Gresham Street, London EC2V 7BF, on 10
June 2025.

 

Notes:

1.         Constant currency numbers are prepared on a month-by-month
basis using the translational and transactional exchange rates which prevailed
in the previous year rather than the actual exchange rates which prevailed in
the year. Transactional exchange rates include the effect of our hedging
programme.

2.         Adjusted items exclude the amortisation and impairment of
acquired intangible assets, acquisition items, business reorganisation costs,
other significant non‑recurring items, and the mark-to-market movement of
financial derivatives.

 

The financial information in this trading update is unaudited.

LEI: 213800J364EZD6UCE231

 

Enquiries:

Oxford Instruments plc

Richard Tyson, Chief Executive Officer

Paul Fry, Chief Financial Officer

Stephen Lamacraft, Head of Investor
Relations                     Stephen.lamacraft@oxinst.com
(mailto:Stephen.lamacraft@oxinst.com)

 

MHP Group

Katie Hunt/Tim Rowntree/
                  07710 117517

Veronica Farah
                              oxfordinstruments@mhpgroup.com
(mailto:oxfordinstruments@mhpgroup.com)
 

Notes to Editors

About Oxford Instruments plc

Oxford Instruments provides academic and commercial organisations worldwide
with market-leading scientific technology and expertise across its key market
segments: materials analysis, semiconductors, and healthcare & life
science. Innovation is the driving force behind Oxford Instruments' growth and
success, supporting its core purpose to accelerate the breakthroughs that
create a brighter future for our world. The vigorous search for new ways to
make our world greener, healthier and more productive is driving unprecedented
levels of R&D investment in new materials and techniques to support
productivity and decarbonisation worldwide, creating a significant opportunity
for Oxford Instruments to grow. Oxford Instruments holds a unique position to
anticipate global drivers and connect academic researchers with commercial
applications engineers, acting as a catalyst that powers real world progress.
Founded in 1959 as the first technology business to be spun out from Oxford
University, Oxford Instruments is now a global, FTSE250 company listed on the
London Stock Exchange (OXIG). For more information, visit www.oxinst.com

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