Trading Update
Summary by AI BETAClose X
Oxford Instruments plc
Full-year trading update - 14 April 2026
Strong second half - full year in line with expectations
Continued strong order momentum in Advanced Technologies
Oxford Instruments plc ("Oxford Instruments" or "the Group"), a leading provider of scientific technology tools, software and expertise to academic and commercial partners, is today issuing a trading update for the year ended 31 March 2026 for continuing operations1.
We expect to deliver a resilient full-year performance in line with market expectations2. Full-year order intake for the Group is expected to be up c. 8% on an organic constant currency (OCC)3 basis versus prior year, with a book-to-bill ratio of c. 1.07.
After a tariff-disrupted start to the financial year, we have seen continued positive quarter-on-quarter order intake momentum in our Imaging & Analysis ("I&A") division. Following a return to growth in H2, full-year order intake is expected to be in line with the prior year on a reported basis, and marginally up versus prior year on an OCC basis.
Within our Advanced Technologies ("AT") division, tailwinds in the compound semiconductor market, and increasing traction with volume manufacturing customers, have driven c. 30% OCC year-on-year order growth. Order intake accelerated in H2, mainly driven by large US and European commercial customers. Following receipt of a significant multi-year order in April 2026, the current AT order book materially covers planned revenue for FY27, with orders now extending into FY28.
As anticipated, strong execution and improving market conditions in the second half delivered a Group revenue performance significantly ahead of H1, with H2 revenue marginally below the prior year on a reported basis, moving to slightly positive growth on an OCC basis.
Group operating profit margin continued to benefit from the cost restructuring actions undertaken at our Belfast-based imaging business, and from the expected margin improvement from H2 revenue growth.
The first £50m tranche of the share buyback programme was completed at the end of February. As at 31 March 2026, £11.7m of the second £50m tranche had been completed.
Richard Tyson, Chief Executive Officer, commented:
"The Group's strong execution in the second half, coupled with excellent order growth in Advanced Technologies, led to a resilient full-year performance against a challenging external backdrop; testament to the great work and agility of all of the team at Oxford Instruments. With good momentum and a strong order book we are well positioned for growth into the new financial year and beyond."
FY26 preliminary results
Oxford Instruments management will present its full-year results to analysts and investors at Deutsche Numis, 21 Moorfields, London, EC2Y 9DB on 9 June 2026.
Notes:
1. Excludes the NanoScience business and directly related costs which exited the Group upon final deal closing. All numbers unaudited and based on current expectations.
2. The mean of consensus estimates for reported full year FY26 results are for revenue of £420.7m, adjusted operating profit of £71.3m, and adjusted operating margin of 16.9%. Please refer to the Company website for more details of how consensus is calculated. Adjusted items exclude the amortisation and impairment of acquired intangible assets, acquisition items, business reorganisation costs, other significant non-recurring items, and the mark-to-market movement of financial derivatives
3. Constant currency numbers are prepared on a month-by-month basis using the translational and transactional exchange rates which prevailed in the previous year rather than the actual exchange rates which prevailed in the year. Transactional exchange rates include the effect of our hedging programme.
The financial information in this trading update is unaudited. LEI: 213800J364EZD6UCE231
Enquiries:
Oxford Instruments plc
Richard Tyson, Chief Executive Officer
Paul Fry, Chief Financial Officer
Stephen Lamacraft, Director of Investor Relations 07776 433916
MHP Group
Katie Hunt/Tim Rowntree/ 07884 494112
Hugo Harris oxfordinstruments@mhpgroup.com
Notes to Editors
About Oxford Instruments plc
Oxford Instruments provides academic and commercial organisations worldwide with
market-leading scientific technology and expertise across its key market segments: materials analysis, semiconductors, and healthcare & life science. Innovation is the driving force behind Oxford Instruments' growth and success, supporting its core purpose to accelerate the breakthroughs that create a brighter future for our world. The vigorous search for new ways to make our world greener, healthier and more productive is driving unprecedented levels of R&D investment in new materials and techniques to support productivity and decarbonisation worldwide, creating a significant opportunity for Oxford Instruments to grow. Oxford Instruments holds a unique position to anticipate global drivers and connect academic researchers with commercial applications engineers, acting as a catalyst that powers real world progress. Founded in 1959 as the first technology business to be spun out from Oxford University, Oxford Instruments is now a global, FTSE250 company listed on the London Stock Exchange (OXIG). For more information, visit www.oxinst.com
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