21 September 2021

Oxford Instruments plc

Chairman's AGM Statement 2021

Oxford Instruments plc, a leading provider of high technology products and services to industrial companies and scientific research communities, is holding its Annual General Meeting today at which the Chairman, Neil Carson, will make the following statement on trading:

Order and revenue growth has been strong in the first five months of the year, supported by positive underlying demand across our markets, and across both commercial and academic customers.

Currency effects have had an adverse impact on revenue and operating profit, compared to the same period in 2020, as sterling strengthened against our key trading currencies. We anticipate a headwind effect on full year revenue and operating profit of approximately 4% and 3% respectively. 

A healthy pipeline across the breadth of our markets, a strong order book and the expected contribution following the acquisition of WITec, supports our view that trading for the full year will be slightly ahead of expectations. Covid-19 continues to disrupt supply chains and is heightening uncertainty for forecasting.

Oxford Instruments' results for the half year ended 30 September 2021 will be released on Tuesday 9 November 2021.

Note: Oxford Instruments compiled analyst forecast range for adjusted operating profit (year to 31 March 2022): £59.7m to £63.0m, with an average consensus of £61.2m.

- Ends -

Issued for and on behalf of Oxford Instruments

Oxford Instruments plc                                                          Tel:  01865 393200

Ian Barkshire, Chief Executive

Gavin Hill, Group Finance Director

MHP Communications                                                           Tel:  020 3128 8572

Katie Hunt/ James Midmer/ Florence Mayo
oxfordinstruments@mhpc.com

About Oxford Instruments plc

Oxford Instruments designs, supplies and supports high-technology tools and systems with a focus on research and industrial applications. Innovation has been the driving force behind Oxford Instruments' growth and success for 60 years, supporting its core purpose to address some of the world's most pressing challenges. 

The first technology business to be spun out from Oxford University, Oxford Instruments is now a global company and is listed on the FTSE250 index of the London Stock Exchange (OXIG).  Its strategy focuses on being a customer-centric, market-focused Group, understanding the technical and commercial challenges faced by its customers. Key market segments include Semiconductor & Communications, Advanced Materials, Healthcare & Life Science, and Quantum Technology.

Oxford Instruments' portfolio includes a range of core technologies in areas such as low temperature and high magnetic field environments; Nuclear Magnetic Resonance; X-ray, electron, laser and optical based metrology; atomic force microscopy; optical imaging; and advanced growth, deposition and etching.

Oxford Instruments is helping enable a greener economy, increased connectivity, improved health and leaps in scientific understanding. Their advanced products and services allow the world's leading industrial companies and scientific research communities to image, analyse and manipulate materials down to the atomic and molecular level, helping to accelerate R&D, increase manufacturing productivity and make ground-breaking discoveries.