Trading Statement
Renishaw plc
22 October 2026
Renishaw, a world leader in measuring and manufacturing systems, publishes this trading update for the three months ended 30 September 2026, which contains unaudited information covering the first quarter (Q1) of the FY2027 financial year.
Momentum continuing in early FY2027
Performance highlights
- Strong year-on-year growth in all three business segments and all three regions, building on acceleration during FY2026.
- Continued momentum in demand from customers in the semiconductor and the aerospace and defence sectors, with growth also coming through in wider automation and industrial markets.
- Disciplined investment in expansion of our manufacturing capacity.
FY2027 Q1 segmental revenue
Q1 revenue at actual exchange rates was 47% higher than a weak comparator in the prior year, resulting in a record quarter that was 3% above FY2026 Q4. Q1 revenue at constant exchange rates* was 48% higher than the previous year.
Segmental revenue (£m)
FY2027 Q1
FY2026 Q1
Growth
Constant
FX growth*
FY2026 Q4
Industrial Metrology
130.8
102.0
28%
29%
119.8
Position Measurement
96.0
52.1
84%
85%
81.7
Specialised Technologies
25.0
16.7
50%
50%
42.7
Group
251.8
170.8
47%
48%
244.2
Industrial Metrology (IM) is gaining momentum, with 29% year-on-year revenue growth at constant exchange rates in Q1, and 9% above FY2026 Q4. We continue to see growing demand for our 5-axis co-ordinate measuring machines (CMMs) and shop-floor gauging systems, with strong year-on-year revenue growth in the first quarter and a growing order book. Meanwhile, demand for metrology sensors from machine tool and CMM builders has also improved after a flat FY2026, with notably stronger sales into the aerospace and defence, energy and consumer electronics sectors.
Position Measurement (PM) achieved record quarterly revenue in Q1, with 85% year-on-year revenue growth at constant exchange rates, and 17% above FY2026 Q4. Demand for open optical encoders and laser encoders for use in semiconductor manufacturing equipment was particularly strong, with further expansion of our order book during Q1. We are investing in additional production capacity for these product lines. Meanwhile, we are also seeing growing demand for encoders for harsh environments in automation, robotics and space applications.
Specialised Technologies (ST) has also made a strong start to FY2027, with revenue growth of 50% at constant exchange rates compared to the prior year. Revenues in Q1 were, as expected, lower than an exceptionally strong FY2026 Q4, but the order book has strengthened. Additive manufacturing (AM) was the primary driver of year-on-year growth, as we continue to see strong demand for our AM systems from customers in the aerospace and defence and medical sectors. Spectroscopy revenues in Q1 were marginally lower than the prior year but the order book has strengthened. The divestment process for our neurological business continues.
Outlook
We have seen a strong start to FY2027, continuing and broadening the momentum that we established throughout the prior year. Demand in the semiconductor, aerospace and defence sectors remains strong, and is now being complemented by wider automation investment in other industries.
We are working hard to scale our supply chain and production capacity, whilst remaining mindful of the cyclical nature of demand over the medium term.
We continue to expect strong progress on revenue and operating margin for FY2027 as a whole.
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; the Americas, EMEA, and APAC. 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.
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
3 months to 30 Sept 2026
3 months to 30 Sept 2025
£’m
£’m
Statutory revenue as reported
251.8
170.8
Adjustment for forward contract gains
(2.5)
(3.3)
Adjustment to restate at previous year exchange rates
(0.9)
-
Revenue at constant exchange rates
248.4
167.5
Year-on-year revenue growth at constant exchange rates
48%
-
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