Board Change and Trading Update
Renishaw plc, the global provider of manufacturing technologies, analytical instruments and medical devices, announces the following Board change.   

After a career of over 46 years with Renishaw plc, Allen Roberts has agreed with the Board that he will step down from his position as Group Finance Director and will not stand for re-election at the upcoming Annual General Meeting on 26 November 2025. Allen will remain an employee of the Company until 31 December 2025 to facilitate the handover of his responsibilities. 

John Deer, co-founder of Renishaw plc and Non-executive Director, commented: 
“Allen has been a huge part of the Renishaw success story. From the first interactions that Sir David McMurtry and I had with him in 1974 it was clear that when the time was right for us to recruit our first Finance Director, Allen was the person who would help us to shape Renishaw’s future. The company owes him an enormous debt of gratitude for helping to navigate its financial and strategic development over the past 46 years, notably in establishing its overseas subsidiaries. I wish him all the very best with his retirement and I would like to express my enormous personal gratitude for his friendship and wise counsel over the past five decades.” 

Sir David Grant, Interim Non-Executive Chair, commented: 
“To have remained Finance Director of a FTSE listed company for over 40 years is an incredible achievement. Allen’s stewardship of Renishaw’s finances through an ever-evolving business landscape has been a cornerstone of its enduring success. On behalf of the Board, I wish him a long, happy and healthy retirement.”     
A process has commenced to recruit a Chief Financial Officer. Further information on this will be provided in due course. Details of the Company’s interim arrangements will also be provided in due course.
Renishaw’s 2025 full year results will be released on 18 September 2025. We expect revenue to be around the middle of the £700m to £720m range and adjusted profit before tax to be towards the top of the £109m to £127m range.

Steady progress in H1 with demand picking up at the start of H2

Performance highlights

1. H1 FY2025 revenue 3% higher at £341.4m (H1 FY2024: £330.5m):
   1. 2% revenue growth at constant exchange rates*, excluding impact of forward contracts;
   1. Growth in Americas and EMEA, lower revenue in APAC;
   1. Manufacturing technologies up 4% at £322.6m, with growth from Position Measurement and Additive Manufacturing products, weaker demand from machine builders for Industrial Metrology products; and
   1. Analytical instruments and medical devices 3% lower at £18.8m, with growth in Neurological products offset by lower Spectroscopy sales.
2. Profit before tax 2% higher at £57.5m (H1 FY2024: £56.5m):
   1. Gross margin excluding engineering costs improved by 1.0% to 61.5%;
   1. Operating profit up 9% at £51.6m at actual exchange rates, down 5% at constant currency; and
   1. Profit before tax in Q2 was lower than Q1 due to less favourable currency contracts, adverse product mix, and one-off supply chain costs.
3. Adjusted* cash flow conversion from operating activities above target at 100%, reflecting strong operating cash flows and planned lower capital expenditure:
   1. Strong balance sheet, with cash and cash equivalents and bank deposit balances of £233.2m (30 June 2024: £217.8m).
4. Continued progress on our strategic priorities, with new product launches in H1 that strengthen our position in established and emerging markets.
5. Interim dividend of 16.8 pence per share.
6. Outlook:
   1. Order intake recently improved, steady revenue growth expected to continue in H2;
   1. FY2025 revenue range:                    £695m to £735m; and
   1. FY2025 adjusted profit before tax:    £105m to £135m.

* For this period and the comparable period there is no difference between ‘Statutory’ and ‘Adjusted’ for some of our alternative performance measures, being Adjusted profit before tax, Adjusted earnings per share and Adjusted operating profit. Note 12, Alternative performance measures, defines how other alternative measures are calculated.