Oxford Instruments PLC (CHIX:OXIGl)
£ 19.18 -0.70 (-3.52%) Market Cap: 1.11 Bil Enterprise Value: 1.06 Bil PE Ratio: 43.25 PB Ratio: 2.96 GF Score: 77/100
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Half Year 2025 Oxford Instruments PLC Earnings Call Transcript

Nov 12, 2024 / 10:00 AM GMT
Release Date Price: £20.4 (-4.67%)

Key Points

Positve
  • Oxford Instruments PLC (OXINF) reported a strong first half performance with a 10.4% revenue growth at constant currency, driven by growth in new materials and semiconductor markets.
  • The company maintained excellent margins in its imaging and analysis division, contributing the majority of the group's profit with a margin of over 24%.
  • The strategic pivot from China to other markets has been successful, with strong growth in the US and other parts of Asia offsetting the anticipated reduction in China revenue.
  • Oxford Instruments PLC (OXINF) has made significant progress in its operational transformation program, particularly in its Belfast facility, leading to improved productivity and inventory management.
  • The company has a strong order book, providing good visibility into the second half, with an underlying book to bill ratio of 1.01.
Negative
  • The healthcare and life sciences market showed weakness, impacting overall results despite the strong performance in other sectors.
  • Currency headwinds negatively impacted reported revenue and profit, with a 5.8 million reduction in revenue and a 3.9 million reduction in profit.
  • The advanced technologies division, while showing revenue growth, reported a loss due to higher facility running costs and inventory provisioning.
  • The effective tax rate increased to 25.1% due to a change in the geographical mix of profits, affecting overall profitability.
  • Cash conversion was below expectations at 17%, partly due to timing mismatches in capital contracts and higher working capital requirements.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

OXIG.L - Oxford Instruments PLC
Half Year 2025 Oxford Instruments PLC Earnings Call
Nov 12, 2024 / 10:00AM GMT

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Presentation
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Unidentified_1 [1]
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Okay, good morning everyone. And thanks for joining us here in the room and online for our half year results presentation with me this morning is the familiar face of our CFO Gavin Hill.

So these results are good and they would have been even better. But for some weakness in the healthcare and life sciences market, the order book remains strong, giving us good visibility into the second half.

We've made real inroads into our strategic priorities to improve rebalance and simplify the business.

And all of this reinforces our confidence that we can improve returns from the business in the medium term as we articulated in June, more on that later, Gavin will be taking you through the detail of the
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