Renishaw H1 Earnings Call Highlights

5 days ago 5

MarketBeat

Wed, February 11, 2026 astatine 4:28 AM CST 8 min read

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Record archetypal half: gross roseate 7.1% reported (11.5% astatine changeless currency) and operating nett accrued 11.4% to £57.5m, with operating borderline up 0.6pp contempt an estimated ~3.6pp resistance from currency and a ~1.4% gross deed from tariffs; the dividend was unchanged astatine 16.8p.
Growth was concentrated successful specialized technologies/additive manufacturing (the fastest-growing segment, >25% astatine changeless currency) and presumption measurement (c.12% CC) driven by semiconductor, defence and mill automation demand, portion EMEA and accepted sensor income (notably successful Germany/automotive) remained subdued.
Management is delivering outgo actions—£20m operating-cost people positive closure of the drug-delivery enactment (~£3m), with £9m saved successful H1 and c.£23m annualized expected—headcount down ~7% and FY capex guided ~£40m; the institution sees momentum into H2 but cautions connected ERP rollout challenges, currency headwinds and marketplace uncertainty.
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Renishaw (LON:RSW) reported a “record” archetypal half, pointing to a notable pickup successful second-quarter request and improving profitability contempt ongoing currency headwinds and still-mixed extremity markets. Management said request was strongest from customers making semiconductor manufacturing equipment—particularly for encoder products—and from the defence sector, portion much accepted instrumentality instrumentality and coordinate measuring instrumentality (CMM) sensor request remained subdued, particularly successful Germany.

On the income statement, the institution reported gross maturation of 7.1% connected a reported ground and 11.5% astatine changeless currency. Chief Financial Officer Mark Poulton said maturation was achieved crossed each 3 reporting segments, with an improving bid publication successful each conception and region.

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Regionally, show was mixed:

Americas: Revenue roseate much than 15% astatine reported rates (more than 20% astatine changeless currency), driven by request for higher-value superior instrumentality specified arsenic additive manufacturing machines and five-axis CMMs. The portion besides benefited from astir £5 cardinal of higher pricing and surcharging to offset tariff duties introduced during 2025.
APAC: Revenue grew much than 10% astatine reported rates (more than 15% astatine changeless currency). Drivers included request from semiconductor and electronics manufacturing instrumentality customers for presumption encoders, on with maturation successful Equator flexible gauge income to user electronics subcontract manufacturers.
EMEA: Revenue fell astir 5% astatine some reported and changeless currency, reflecting continued subdued request aboriginal successful the period. Poulton said request picked up aboriginal successful the fractional and the bid publication ended stronger, helped by a step-up successful Q2 show versus Q1. Management besides noted that implementation of a caller income ERP strategy successful immoderate territories successful September affected the half-year performance.