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RNS Number : 1307D  Renishaw PLC  06 May 2026

Renishaw plc

 

6 May 2026

 

Renishaw, a world leader in measuring and manufacturing systems, publishes
this trading update for the nine months ended 31 March 2026 (9M FY2026).

 

Accelerating growth in Q3

 

 Performance highlights

 ·      Accelerating 9M revenue growth: 9.5% at actual exchange rates,
 13.5% at constant exchange rates*

 o  Q3 was a record quarter with revenue up 14.0% to £206.0m at actual
 exchange rates

 ·      Continued strong demand from semiconductor & electronics
 manufacturing and aerospace & defence during Q3, leading to a substantial
 expansion of the order book in all three segments.

 ·      Full-year expectations in line with recently upgraded guidance:
 o  Revenue:                       £775m to £805m

 o  Adjusted profit before tax:    £145m to £165m

 

Record 9M revenue

We have built momentum through the year to date, with significant
contributions from our emerging products, delivering revenue growth in each
segment and each region, as well as a substantial further expansion of our
order book.

Total 9M revenue at actual exchange rates was 9.5% higher at £571.6m (FY2025:
£522.1m) and was a record for the 9M period. Revenue at constant exchange
rates* was 13.5% higher than the previous year.

 

 Segmental revenue (£m)    Q1       Q2       Q3       9M       9M       9M       9M Constant

Growth

                           FY2026   FY2026   FY2026   FY2026   FY2025            FX growth
 Industrial Metrology      102.0    110.1    115.3    327.4    315.2    3.9%     7.7%
 Position Measurement      52.1     58.4     68.9     179.4    153.5    16.9%    21.6%
 Specialised Technologies  16.7     26.3     21.8     64.8     53.4     21.2%    24.5%
 Group                     170.8    194.8    206.0    571.6    522.1    9.5%     13.5%

 

Industrial Metrology (IM) revenue for the 9M period was 7.7% higher at
constant exchange rates. Our emerging metrology systems and software products,
including our new Equator-X™ gauge, have delivered strong year-on-year
revenue growth, as well as a growing order book. Machine calibration systems
have also grown strongly, underpinned by demand from semiconductor
manufacturing equipment builders. By contrast, sales of metrology sensors to
machine tool and CMM builders were slightly weaker than the prior year.

Position Measurement (PM) revenue for the 9M period was 21.6% higher at
constant exchange rates, accelerating from 11.9% at the half year, with very
strong sales growth for open optical and magnetic encoders, as well as a
substantial further expansion of the order book. Order intake has accelerated
in the third quarter, notably from the semiconductor and electronics
manufacturing equipment sector. Meanwhile, sales of laser encoders were lower
than a strong comparative 9M period in the prior year, but the order book has
grown. Following the recent launch of our ASTRiA™ inductive encoder, we are
working closely with key prospects, including various aerospace & defence
sector applications, with early production orders now being received.

Specialised Technologies (ST) revenue for the 9M period was 24.5% higher at
constant exchange rates. Sales of metal additive manufacturing (AM) systems
were significantly higher than the prior year, and the AM order book has grown
substantially, with strong prospects in the aerospace & defence, medical
devices and consumer electronics sectors. Spectroscopy revenues are slightly
lower than the prior year, but the order book has risen.

 

9M revenue was up year-on-year in all three regions, with strong growth at
constant exchange rates in the Americas and APAC regions.  After a slow start
to the year, revenue in EMEA grew strongly in Q3 and is now above the prior
year for the 9M period, compared with a 5.5% decline at the half year.

 

 Regional revenue (£m)   Q1       Q2       Q3       9M       9M       9M       9M Constant

Growth

                         FY2026   FY2026   FY2026   FY2026   FY2025            FX growth
 APAC                    84.4     93.6     94.7     272.7    248.1    9.9%     15.8%
 EMEA                    42.6     54.4     59.1     156.1    153.5    1.7%     1.3%
 Americas                43.8     46.8     52.2     142.8    120.4    18.6%    24.3%
 Group                   170.8    194.8    206.0    571.6    522.1    9.5%     13.5%

 

Geopolitical backdrop

We are closely monitoring the commercial impact of the conflict in the Middle
East and the main effect so far has been on our global logistics costs. We
continue to monitor and manage the impact of the US Government's tariff
changes.

We are also facing tight supply chains for certain semiconductors and critical
materials.  We have experienced these types of challenges previously and,
although lead times may be impacted in the short term, we do not expect a
material impact on operations in the remainder of this financial year.

 

Outlook

We expect positive market conditions to continue for the remainder of FY2026,
with ongoing strong demand across specific sectors and product lines
offsetting more subdued conditions in general industrial markets.

Our expectations for FY2026 full-year performance remain in line with recently
upgraded guidance for the following ranges:

·
Revenue:
£775m to £805m

·      Adjusted profit before tax:         £145m to £165m

 

Capital Markets Day

We are holding our 2026 CMD in London on Tuesday 16 June, with an accompanying
live video webcast for those unable to attend in-person. The agenda will
include updates on our strategic progress, our Additive Manufacturing
business, and an explanation of our markets and growth drivers. The event will
run from 9.45 BST until 13:30, with lunch included. Full details of the
in-person event and live webcast can be found at
https://www.renishaw.com/en/capital-markets-day-tuesday-16th-june-2026--50030
(https://www.renishaw.com/en/capital-markets-day-tuesday-16th-june-2026--50030)

 

About Renishaw

We are a world leading supplier of measuring and manufacturing systems. Our
products give high accuracy and precision, gathering data to provide customers
and end users with traceability and confidence in what they're making. This
technology also helps our customers to innovate their products and processes.
We are a global business, with customer-facing locations across our three
sales regions; APAC, EMEA, and the Americas. Most of our R&D work takes
place in the UK, with our largest manufacturing sites located in the UK,
Ireland and India.  Further information can be found at www.renishaw.com.
(http://www.renishaw.com)

 

 

Notes

 

* In accordance with Renishaw's Alternative Performance Measures (APMs) policy
and ESMA Guidelines on Alternative Performance Measures (2015), this section
defines non-IFRS measures that we believe give readers additional useful and
comparable views of our underlying performance.

 

Revenue at constant exchange rates

Revenue at constant exchange rates is defined as revenue recalculated using
the same rates as were applicable to the previous year and excluding forward
contract gains and losses.

 

 £m                                                      9 months to     9 months to

                                                         31 March 2026   31 March 2025
                                                         £m              £m

 Statutory revenue as reported                           571.6           522.1
 Adjustment for forward contract gains                   (8.6)           (15.2)
 Adjustment to restate at previous year exchange rates   12.3
 Revenue at constant exchange rates                      575.3           506.9
 Year-on-year revenue growth at constant exchange rates  13.5%

 

 

In common with many UK PLCs, we no longer provide commentary on quarterly
profit in our Q1 and Q3 trading updates.  We provide full commentary on costs
and profits in our interim and final results announcements every six months.
Our quarterly trading updates now include a more detailed commentary of
segmental and regional demand trends.

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