Renishaw Delivers Record FY2025 Results with Strong Manufacturing Technology Growth
In a year defined by global economic headwinds, Renishaw has announced record results, reporting revenue of £713.0 ($962.5) million for fiscal 2025 – a 3.1% rise from the prior year. The performance highlights the company’s ability to balance innovation-led growth with disciplined cost management, while reinforcing its long-term resilience across industrial markets.
Manufacturing Technologies Drive Growth
Renishaw’s manufacturing technologies segment, which accounts for 94% of group revenue, expanded 3.6% to £671.5 ($906.5) million. The uptick was powered by continued demand for position encoders and 5-axis coordinate measuring machine systems, which serve mission-critical applications in aerospace, automotive, and industrial precision engineering.
By contrast, demand for additive manufacturing (AM) systems softened, reflecting sector-wide caution around investment in emerging production technologies. Similarly, analytical instruments and medical devices revenue slipped 3.8% to £41.5 ($56.0) million, with weaker sales of spectroscopy systems offsetting gains in neurological products. These mixed outcomes underscore Renishaw’s strategic reliance on its industrial core while navigating more volatile segments.
Margin Stability Through Cost Discipline
Despite inflationary and supply chain pressures, Renishaw held its adjusted operating margin steady at 15.7%, supported by a £20 million annual payroll reduction program and selective site rationalisation, including the closure of its Edinburgh research facility.
Adjusted profit before tax rose 3.8% to £127.2 ($171.7) million, though statutory profit before tax slipped 3.7% to £118.0 ($159.3) million due to £20.4 ($27.5) million in restructuring costs. CEO Will Lee reaffirmed the company’s commitment to achieving 20% operating margins by FY2026, describing FY2025’s cost discipline as a critical step toward that goal.
The company ended FY2025 with a strengthened balance sheet, holding £273.6 ($369.4) million in cash and equivalents, up from £217.8 ($294.0) million in FY2024. This liquidity was achieved despite £46.3 ($62.5) million in capital expenditures to expand capacity and support product innovation, including launches such as the Equator X dual-method gauging system and MODUS IM software for shop-floor metrology.
Outlook: Balancing Risk and Opportunity
Looking to FY2026, Renishaw expects “further steady growth” across its core markets, with the semiconductor sector showing continued recovery even as automotive demand remains subdued. CEO Lee highlighted the benefit of serving multiple sectors – including aerospace, consumer electronics, and industrial automation – which has cushioned the company against downturns in individual verticals.
Renishaw’s strategic focus on automation and digitalization aligns with the structural trends driving smart manufacturing and precision engineering worldwide.
For more information: www.renishaw.com
