Renishaw release interim fiscal results – up 20% on 2015

British engineering company Renishaw (LON:RSW) have released interim results for the last six months of 2016 from July to the 31st December. When compared to the same period in 2015, total revenue is up 21% from almost £200m to over £240m, see table below:

Highlights of Renishaw’s Interim report 2017, from July 2016 – 31 December 2016. Image via: Renishaw
Highlights of Renishaw’s Interim report 2017, from July 2016 – 31 December 2016. Image via: Renishaw

Renishaw measures its business in two segments: metrology, i.e. ‘the science of measurement’ and healthcare applications, both of which are supported by additive manufacturing.

Additive manufacturing in metrology

The metrology section involves precision engineering of industrial components, and includes metal additive manufacturing as one of the key proponents. From the Chairman’s statement, interim results show:

Revenue in our metrology sector for the first six months was £227.1m, compared with £184.9m last year. Operating profit was £41.6m, compared with £30.6m for the comparable period last year.

3D Printing Industry editor-in-chief Michael Petch spoke to Marc Saunders, Renishaw’s director of Global Solutions Centers, about the industrialisation of the company’s metal additive manufacturing sector at IMTS 2016.

Renishaw 3D Printed Metal
Renishaw 3D Printed Metal parts at IMTS 2016. Photo by Michael Petch

In the interview, Saunders comments, “I think the vision really is that additive is going to take its place as mainstream manufacturing process in the next few years for making advanced parts.”

At Renishaw’s IMTS presentation, Saunders also introduced the concept of a productive process pyramid to make the most of additive manufacturing capabilities, managing the steps from design for additive manufacturing (known as DfAM), to rapid prototyping.

Renishaw's Product Process Pyramid (photo by Michael Petch)
Renishaw’s Product Process Pyramid (photo by Michael Petch)

In an assessment of the principal risks and uncertainties to Renishaw’s business, the report also sites that: “The Group is applying its measurement expertise to grow its healthcare and additive manufacturing business activities” as one level of mitigation against the current trading levels and order book implications of Brexit.

Additive healthcare

Additive manufacturing is equally as important to Renishaw’s healthcare subsector. The Chairman’s statement reports:

Revenue in our healthcare sector for the first six months was £13.3m, compared with £13.6m last year and there was an operating loss of £6.0m, compared with a loss (restated) of £2.2m for the comparable period last year.

Listed in the company’s product range are 3D scanners and CAD software, used for additive dental applications as discussed by 3D Printing Industry through the company’s integration of a Polygonica software toolkit.

The report also lists a focus on craniomaxillofacial custom-made implants additively manufactured from titanium to reconstruct parts of the skull.

Renishaw’s full interim report can be found on the company’s website.

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Featured image shows Renishaw bottle openers 3D printed in Titanium. Photo via: Renishaw