Oxford Instruments
plc
Trading Update - 16 April
2024
Full year trading in line
with expectations
Positive momentum in revenue
growth
Oxford Instruments plc, a leading
global provider of scientific technology and expertise to academic
and commercial partners, is today issuing a trading update for the
year ended 31 March 2024.
Revenue growth for the year has been
strong and is expected to be up around 9% at constant currency (6%
at actual rates) on the prior year. Our differentiated positions
are driving positive momentum, with growth across all our
geographies in our key sustainability-driven and structurally
growing end markets, including advanced materials, life science and
semiconductors. While orders were lower against a strong comparator
year and due to a slowdown in life science OEM orders, our
underlying book-to-bill remains positive.
Operating margin is expected to be
approximately 100bps behind last year, reflecting losses incurred
in our quantum business as a result of ceasing commercial
activities in China, and continued operational
investment.
We expect adjusted operating profit
for the full year ended 31 March 2024 to be in line with
expectations.1
The Group enters the new financial
year with a strong order book providing good visibility to planned
revenues and a good pipeline of growth opportunities in
structurally growing end markets.
Oxford Instruments' results for the
year ending 31 March 2024 will be released on 11 June 2024,
together with an update on the Group's strategy.
On 10 July 2024, we will host an
investor and analyst site visit at our new etch and deposition
systems facility in Bristol, which is now operational. The focus
will be on the products and services we provide within the compound
semiconductor industry.
Notes:
1 Adjusted operating profit is before amortisation and
impairment of acquired intangible assets, acquisition items, and
the mark-to-market revaluation of financial derivatives.
Enquiries:
Oxford Instruments plc
Richard Tyson, CEO
Gavin Hill, CFO
Stephen Lamacraft, Head of Investor
Relations
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Tel: 01865 393200
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MHP
Katie Hunt/Tim Rowntree/Eleni
Menikou/Veronica Farah
oxfordinstruments@mhpc.com
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Tel: 020 3128 8100
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- Ends
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Issued
for and on behalf of Oxford Instruments plc
Notes to Editors
About Oxford Instruments plc
Oxford Instruments designs, supplies
and supports
high-technology products and systems which allow the
world's leading
companies and scientific research communities to image, analyse and
manipulate materials down to the atomic and molecular level. The
Group's products and services help its customers to accelerate
R&D, increase manufacturing productivity and make
ground-breaking discoveries across its key market segments:
Semiconductor & Communications, Advanced Materials, Healthcare
& Life Science, Energy & Environment and Quantum
Technology.
Innovation is the driving force
behind Oxford Instruments' growth and success, supporting its core
purpose to enable a greener, healthier, more connected advanced
society. Founded in 1959 as the first technology business to be
spun out from Oxford University, Oxford Instruments is now a global company listed
on the FTSE250 index of the London Stock Exchange (OXIG). Its
customer-centric, market-focused strategy creates competitive
advantage through understanding the technical and commercial
challenges in markets with long-term structural growth
drivers.
For more information, visit
www.oxinst.com