Informe de medio año
Primero Quantum Minerals Ltd.
450.62p
16:49 27/05/16
Renishaw plc
6 de febrero de 2024
Informe intermedio 2024 - para los seis meses terminados el 31 de diciembre de 2023
Destacados
A solid performance in challenging market conditions with growth opportunities in H2
| meses a 6 31 diciembre 2023 | meses a 6 31 diciembre 2022 | Cambiar%
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Ingresos (millones de libras esterlinas) | 330.5 | 347.7 | -5 |
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Equilibrado* beneficio antes de impuestos (millones de libras esterlinas) | 56.5 | 73.5 | -23 |
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Equilibrado* ganancias por acción (peniques) | 62.1 | 83.4 | -26 |
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Dividendo por acción (peniques) | 16.8 | 16.8 | - |
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Beneficio legal antes de impuestos (millones de libras esterlinas) | 56.5 | 77.8 | -27 |
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Ganancias legales por acción (peniques) | 62.1 | 88.1 | -26 |
· Revenue 5% lower at £330.5m:
? Manufacturing technologies revenue lower by 6%, with solid growth in Industrial Metrology offset by continued weak demand for position encoders for semiconductor manufacturing equipment.
? Analytical instruments and medical devices revenue up 16%, with strong growth in Spectroscopy products.
? Group revenue lower by 2% at constant currency; APAC +6%, EMEA -6% and Americas -13%.
? Q2 similar to Q1 this year and Q2 FY2023; stable order book.
· Equilibrado* beneficio antes de impuestos de 56.5 millones de libras esterlinas (primer semestre del año fiscal 1 de 2023 millones de libras esterlinas):
? Represents 17% of revenue (21% last year).
? 3% reduction in gross margin before engineering costs: targeted price rises, offset by adverse currency impact on revenue, employee pay inflation, and lower production overhead absorption due to planned inventory reductions.
? Cost control in engineering, distribution and administration limiting year-on-year increases to 3%.
· Beneficio legal antes de impuestos de 56.5 millones de libras esterlinas (Primer semestre del año fiscal 1: 77.8m).
· Strong balance sheet with cash and cash equivalents and bank deposit balances of £178.3m, compared with £206.4m at 30 June 2023, with the £43.2m final dividend for FY2023 paid in H1.
? Targeted reductions in inventory contribute to cash flow from operating activities increasing to £55.6m (H1 FY2023: £21.6m).
· Dividendo a cuenta de 16.8 peniques por acción.
William Lee, director ejecutivo, comentó:
"We have achieved a solid performance in challenging market conditions, with growth from Industrial Metrology products in APAC being offset by continued weak demand from some key sectors, most notably semiconductor equipment. We expect an improvement in our trading performance in the second half of the financial year as market conditions improve, and as we continue to pursue a range of growth opportunities. To support our through-cycle growth strategy, we are continuing to focus on productivity and to make targeted investments in our people, our production facilities, and our new product pipeline."
* Note 12, 'Alternative performance measures', defines how adjusted profit before tax and adjusted earnings per share are calculated.
Acerca de Renishaw
We are a world leader in measuring and manufacturing systems. Our products give high accuracy and precision, gathering data to provide customers and end users with traceability and confidence in what they're making. This technology also helps our customers to innovate their products and processes. We are guided by our purpose - Transforming Tomorrow Together. This means working with our customers to make the products, create the materials, and develop the therapies that are going to be needed for the future. Our vision is to innovate and transform the capabilities of our customers and end users through unparalleled levels of precision, productivity and practicality.
We are a global business, con ubicaciones orientadas al cliente en nuestras tres regiones de ventas; las Américas, EMEA y APAC. La mayor parte de nuestro trabajo de I+D se lleva a cabo en el Reino Unido, con nuestros sitios de fabricación más grandes ubicados en el Reino Unido, Irlanda e India.
Presentación de resultados y sesión de preguntas y respuestas en vivo hoy
Vea a continuación un video de presentación de estos resultados, presentado por William Lee, director ejecutivo, y Allen Roberts, director financiero del grupo. Habrá una sesión de preguntas y respuestas de solo audio en vivo con William y Allen a las 10:30 GMT de hoy. Los detalles sobre cómo registrarse y acceder a este webcast están disponibles en el siguiente enlace:
https://www.renishaw.com/en/register-for-the-2024-interim-results-webcast--48539
Questions can be submitted during the live Q&A session using the webcast platform or in advance to GME@dhr-rgv.com (please submit by 09:30 GMT).
Consultas: GME@dhr-rgv.com
Resumen de los seis meses finalizados el 31 de diciembre de 2023
Ingresos
Revenue for the six months ended 31 December 2023 was £330.5m, compared with £347.7m for the corresponding period last year. Manufacturing technologies revenue was lower by 6%, with solid growth in Industrial Metrology offset by continued weak demand for position encoders for semiconductor manufacturing equipment. Analytical instruments and medical devices revenue was up 16%, with strong growth in Spectroscopy products. Overall, revenue in Q2 FY2024 was similar to the corresponding period last year and marginally above Q1 FY2024. The order book at 31 December 2023 was similar to that at 30 June 2023.
At constant currency, revenue was lower by 2%. APAC revenue was up 6%, with strong growth in Industrial Metrology offsetting continuing weak demand from semiconductor equipment manufacturers. EMEA revenue was lower by 6%, with strong Spectroscopy sales, but weaker demand for Position Measurement and Additive Manufacturing products. Americas revenue was lower by 13%, with growth in metrology systems offset by weaker sales elsewhere, but an improved order book.
| meses a 6 31 diciembre 2023 | meses a 6 31 diciembre 2022 | Cambiar% | Constant fx* change % |
Ingresos del grupo | 330.5m | 347.7m | - 5% | - 2% |
Que comprende: | ||||
APAC | 161.2m | 161.7m | - | 6% |
América | 72.1m | 83.6m | - 14% | - 13% |
EMEA | 97.2m | 102.4m | - 5% | - 6% |
New product introductions and commercialisation
Since June, we have launched new products including the HPMA-X tool setting arm for large CNC lathes and RMP24-micro, the world's smallest wireless machine tool probe. The latter is designed for manufacturers of high-precision miniature components such as those found in the medical, watchmaking and micro-mechanics industries. At the Formnext exhibition in November, we launched two new products for our additive manufacturing (AM) product line. TEMPUS? technology enables lasers to fire at the same time as a machine's recoater is moving, substantially reducing build times. The new RenAM 500 Ultra system includes this new technology, plus advanced process monitoring software, with the aim to reduce cost per part which is vital to the wider adoption of AM technology.
During the period we have also continued the global roll-out of Renishaw Central, our smart manufacturing data platform that collects, presents, and actions accurate process and metrology data. Our new industrial automation product line, which aims to transform the process of commissioning and servicing of industrial robots, has also achieved some early adopters, including a global aerospace company.
Los costos de operación
We have continued to take a cautious approach to recruitment during the year, and our total headcount of 5,166 is similar to 30 June 2023 and 31 December 2022. We have continued to invest in our early careers programmes, whilst we have undertaken a targeted mutually agreed severance scheme in the UK to allow employees to voluntarily leave the company. We have made major investment in employee remuneration in recent years to ensure competitiveness and retention of highly skilled and trained employees, resulting in employee turnover being consistently below target. Labour costs (excluding bonuses) have increased by 2.4% to £136.5m for the period, primarily reflecting the January 2023 pay review and nearly £1.9m of payments relating to the mutually agreed severance scheme.
We have controlled engineering, distribution and administration costs, limiting the year-on-year increase to 3%. This includes an increase in third-party support costs in relation to our new global ERP system (Microsoft D365). We successfully completed the first implementation during the period, and the roll-out of this system will continue over the next few years.
Our gross margin (excluding engineering costs) for the period was 61% of revenue, compared to 64% over the comparable period in the previous year. This change is partly due to a lower recovery of production overheads this year, as we have targeted inventory reductions, whilst retaining manufacturing resource in expectation of demand increasing in the second half of the financial year. Currency rate changes have also had an adverse impact on the gross margin. The effect of these has been partially offset by further targeted price rises.
We remain committed to our long-term strategy of developing innovative and patented products to create strong market positions. During the first six months of this year, our gross engineering spend, including research and development, increased by 2.4% to £51.5m. Net engineering spend includes a £1.5m year-on-year increase in the R&D tax credit, primarily as a result of the rate applicable to qualifying spend increasing from 13% to 20%.
Beneficio e impuestos
Adjusted* profit before tax for the period was £56.5m (17% of revenue) compared with £73.5m (21% of revenue) last year. Statutory profit before tax for the period was £56.5m, compared with £77.8m last year. H1 FY2023 included a £4.4m fair value gain on financial instruments not effective for hedge accounting and not included in adjusted profit before tax. No forward contracts have been designated as ineffective since FY2020.
Los ingresos financieros del período fueron de 7.2 millones de libras esterlinas en comparación con los 5.0 millones de libras esterlinas del año pasado e incluyen un aumento de 2.2 millones de libras esterlinas en los intereses de los depósitos bancarios.
The income tax expense in the Consolidated income statement has been estimated at a rate of 20.1% (H1 FY2023: 17.7%) and is based on management's best estimate of the full year effective tax rates by geographical unit applied to half-year profits. This is comparable with the 20.0% achieved in FY2023.
Las ganancias por acción ajustadas fueron de 62.1 peniques, en comparación con los 83.4 peniques del año pasado. Las ganancias estatutarias por acción fueron de 62.1 peniques, en comparación con los 88.1 peniques del año pasado.
Tecnologías de fabricación
Revenue for this segment, which comprises our Industrial Metrology, Position Measurement and Additive Manufacturing businesses, was £311.1m for the first six months, compared with £330.9m last year. We achieved solid growth in our Industrial Metrology business, with notable growth in demand for our gauging system and machine tool probing product lines, particularly from the consumer electronics sector in APAC. In our Position Measurement business, we have continued to see weak levels of demand for optical encoders from semiconductor manufacturing equipment builders, however, we remain optimistic about the through-cycle growth opportunities in this important sector. In Additive Manufacturing, whilst revenues were below the same period last year, we are seeing repeat demand from a growing number of customers, and we entered the second half with a strong order book. Adjusted operating profit was £46.0m, compared with £66.8m for the comparable period last year.
Instrumentos analíticos y dispositivos médicos
Revenue from this segment for the first six months was £19.4m, an increase of 16% compared with £16.8m last year. There was strong growth for our Spectroscopy products, particularly the EMEA region. We continue to see growing demand for the Virsa? analyser, a portable system that allows sample analysis outside of a laboratory, and the inLux? SEM Raman interface which allows simultaneous Raman and scanning electron microscope imaging. Our neurological business is continuing to progress opportunities with pharmaceutical companies to use our drug delivery technology for clinical trials. The adjusted operating profit was £1.2m in the first half of this year compared with £0.1m for the comparable period last year.
Hoja de balance
Cash and cash equivalents and bank deposit balances at 31 December 2023 were £178.3m, compared with £206.4m at 30 June 2023, primarily reflecting the cash generated from operating profit of £55.6m, less capital expenditure of £40.4m, and the final dividend payment of £43.2m in respect of FY2023. Capital expenditure mostly relates to the expansion of our manufacturing facility in Wales, and we expect capital spend for the full year to be similar to last year.
We have reduced our inventory balances by £11.4m since 30 June 2023, largely reflecting targeted reductions in components and sub-assemblies for our optical encoder products as supply chains have normalised. Trade receivables have decreased by £7.1m in the same period, with receivables days improving by 3 days since 30 June to 61 days, and no significant movement in expected credit losses. The planned reduction in inventory has contributed significantly to an increase in the cash flows from operating activities compared with the corresponding period in the previous year.
During the period, an insurance buy-in of the UK defined benefit pension liabilities was successfully completed. This mitigates the majority of funding risk going forward. See note 11 for further detail.
Dividendo
The Board has approved an interim dividend of 16.8 pence net per share (FY2023: 16.8p), which will be paid on 9 April 2024 to shareholders on the register on 8 March 2024.
Principales riesgos e incertidumbres
The Board has considered the risks and uncertainties which could have a material effect on the Group's performance and position. While we continue to monitor developing geopolitical tensions, the overall impact and likelihood of our principal risks is not considered to have changed significantly. This conclusion also reflects the mitigation undertaken by the Group in response to these risks. The principal risks and uncertainties set out on pages 52 to 59 of the 2023 Annual Report therefore remain relevant.
Sostenibilidad
We continue to make strong progress towards our target of Net Zero for Scopes 1 and 2 emissions by 2028. We self-generate 11% of our electricity consumption and by the end of 2024 all the electricity that we purchase globally will meet our sustainability requirements. During the period, we have contracted with a green-energy provider to supply our main UK sites with 100 per cent renewable electricity.
We see significant commercial opportunities arising from the drive to Net Zero. Our customers are setting sustainability targets and the products we supply them help to increase their manufacturing efficiencies by reducing energy consumption and waste, and also improve the performance of the products they supply to their own customers.
The company has formalised the management of sustainability, including climate-related financial disclosures, through a new ESG Steering Committee, chaired by William Lee, with oversight provided by one of our Independent Non-executive Directors. With the support of specialist advisors, the Committee is developing a comprehensive ESG strategy which will be published in this year's Annual Report.
Directores y empleados
The Directors would like to thank our employees for continuing to drive us forward towards our vision to innovate and transform the capabilities of our customers.
Outlook
The Board remains confident in our organic growth model, built on solving customer problems with innovative products, global service and world-class in-house manufacturing. Whilst we operate in cyclical markets, we aim for high single digit average organic growth rates through the cycle.
We have achieved a solid performance in challenging market conditions, with growth from Industrial Metrology products in APAC being offset by continued weak demand from some key sectors, most notably semiconductor equipment. We expect an improvement in our trading performance in the second half of the financial year as market conditions improve, and as we continue to pursue a range of growth opportunities. To support our through-cycle growth strategy, we are continuing to focus on productivity and to make targeted investments in our people, our production facilities, and our new product pipeline.
At this stage we expect full year revenue to be in the range of £ 675 millones a £ 715 millones. Se espera que el beneficio ajustado antes de impuestos oscile entre 122 y 147 millones de libras..
Señor David McMurtry | William Lee | allen roberts |
Presidente ejecutivo | Director | Director de Finanzas del Grupo |
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6 de febrero de 2024 |
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* Note 12, 'Alternative performance measures', defines how revenue at constant exchange rates, adjusted profit before tax, adjusted operating profit and adjusted earnings per share are calculated.
Cuenta de resultados consolidada
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Notas
| Sin auditar meses a 6 31 diciembre 2023 000 £
| Sin auditar meses a 6 31 diciembre 2022 000 £
| auditado Año terminado 30 junio 2023 000 £
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Ingresos | 2 | 330,489 | 347,679 | 688,573 |
El costo de ventas | 3 | (175,904) | (172,442) | (337,908) |
Beneficio bruto | 154,585 | 175,237 | 350,665 | |
Costos de distribucion | (68,871) | (66,836) | (137,744) | |
Gastos administrativos | (38,520) | (35,311) | (74,894) | |
Costo de servicio pasado del plan de pensiones de beneficios definidos de EE. UU. | - | - | (2,139) | |
Pérdidas del valor razonable de instrumentos financieros | 10 | - | (1,792) | (1,399) |
Beneficio operativo | 47,194 | 71,298 | 134,489 | |
Ingresos financieros | 4 | 7,168 | 5,003 | 9,669 |
Gastos financieros | 4 | (351) | (290) | (1,861) |
Participación en beneficios de empresas conjuntas | 2,530 | 1,803 | 2,768 | |
Beneficio antes de impuestos | 56,541 | 77,814 | 145,065 | |
Ingreso por gastos de impuesto | 5 | (11,364) | (13,746) | (28,963) |
Beneficio del período | 45,177 | 64,068 | 116,102 | |
Beneficio atribuible a: | ||||
Accionistas patrimoniales de la empresa matriz | 45,177 | 64,068 | 116,102 | |
Interes no controlado | - | - | - | |
Beneficio del período | 45,177 | 64,068 | 116,102 | |
penique | penique | penique | ||
Dividendo por acción surgido con respecto al período | 7 | 16.8 | 16.8 | 76.2 |
Beneficio por acción (básico y diluido) | 6 | 62.1 | 88.1 | 159.7 |
Estado consolidado de ingresos y gastos integrales
Sin auditar meses a 6 31 diciembre 2023 000 £ | Sin auditar meses a 6 31 diciembre 2022 000 £ | auditado Año terminado 30 junio 2023 000 £ | |
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Beneficio del período | 45,177 | 64,068 | 116,102 |
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Otras partidas reconocidas directamente en patrimonio: |
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Partidas que no se reclasificarán a la cuenta de resultados consolidada: |
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Remedición de los activos/pasivos del plan de pensiones de prestación definida | (49,459) | 16,127 | 13,612 |
Impuesto diferido sobre la remedición de activos/pasivos de planes de pensiones de prestación definida | 12,349 | (3,739) | (3,071) |
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Total de artículos que no se reclasificarán | (37,110) | 12,388 | 10,541 |
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Partidas que pueden reclasificarse a la cuenta de resultados consolidada: |
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Diferencias de cambio en la conversión de operaciones en el extranjero | 1,576 | 2,960 | (8,000) |
Diferencias de cambio en la conversión de empresas conjuntas en el extranjero | 159 | 456 | - |
Impuesto corriente sobre conversión de inversiones netas en negocios en el extranjero | (297) | (310) | 313 |
Porción efectiva de cambios en el valor razonable de coberturas de flujo de efectivo, neto de reciclaje | 4,422 | 1,870 | 23,167 |
Impuesto diferido sobre la parte efectiva de los cambios en el valor razonable de las coberturas de flujos de efectivo | (1,105) | (318) | (5,692) |
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Total de artículos que pueden reclasificarse | 4,755 | 4,658 | 9,788 |
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Total de otros ingresos y gastos integrales, neto de impuestos | (32,355) | 17,046 | 20,329 |
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Total de ingresos y gastos integrales del período | 12,822 | 81,114 | 136,431 |
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Atribuible a: | |||
Accionistas patrimoniales de la empresa matriz | 12,822 | 81,114 | 136,431 |
Interes no controlado | - | - | - |
Total de ingresos y gastos integrales del período | 12,822 | 81,114 | 136,431 |
Hoja de balance consolidado
Notas | Sin auditar Al 31 de diciembre 2023 000 £ | Sin auditar Al 31 de diciembre 2022 000 £ | auditado Al 30 de junio 2023 000 £ | |
Activos | ||||
Propiedad, planta y equipo. | 8 | 318,036 | 254,640 | 286,085 |
Activos por derecho de uso | 10,049 | 9,321 | 8,402 | |
Propiedades de inversión | 10,181 | 10,374 | 10,323 | |
Activos intangibles | 9 | 48,319 | 46,117 | 46,468 |
Inversiones en negocios conjuntos | 24,529 | 21,905 | 22,414 | |
Arrendamiento financiero por cobrar |
| 8,814 | 6,223 | 9,935 |
Beneficios para el empleado |
| 9,128 | 61,788 | 57,416 |
Activos por impuestos diferidos |
| 20,006 | 22,786 | 19,944 |
Derivados | 10 | 3,233 | 3,542 | 9,443 |
Total del activo no corriente | 452,295 | 436,696 | 470,430 | |
Activos circulantes | ||||
Los inventarios | 174,383 | 179,754 | 185,757 | |
Cuentas por cobrar comerciales | 10 | 116,268 | 123,141 | 123,427 |
Arrendamiento financiero por cobrar | 3,552 | 3,125 | 3,764 | |
Activos contractuales | 1,775 | 1,455 | 861 | |
Impuesto corriente | 13,642 | 7,382 | 19,558 | |
Otros ingresos | 35,918 | 32,084 | 27,979 | |
Derivados | 10 | 11,585 | 3,948 | 5,373 |
Depósitos bancarios | 119,000 | 155,541 | 125,000 | |
Efectivo y equivalentes de efectivo | 59,258 | 55,957 | 81,388 | |
Total de activos corrientes | 535,381 | 562,387 | 573,107 | |
Pasivo circulante | ||||
Comercio a pagar | 22,011 | 21,434 | 21,551 | |
Pasivos contractuales | 7,811 | 8,298 | 9,971 | |
Impuesto corriente | 1,452 | 5,989 | 7,118 | |
Provisiones | 2,722 | 3,513 | 2,758 | |
Derivados | 10 | 1,529 | 16,149 | 5,089 |
Pasivos por arrendamiento | 3,217 | 3,535 | 3,009 | |
Préstamos | 4,372 | 959 | 4,694 | |
Otras cuentas por pagar | 43,654 | 41,873 | 48,130 | |
Total pasivo corriente | 86,768 | 101,750 | 102,320 | |
Activos corrientes netos | 448,613 | 460,637 | 470,787 | |
Pasivos no corrientes | ||||
Pasivos por arrendamiento | 7,083 | 6,068 | 5,624 | |
Préstamos | - | 4,933 | - | |
Beneficios para el empleado | 90 | 328 | 45 | |
Pasivos por impuestos diferidos | 27,007 | 26,952 | 38,770 | |
Derivados | 10 | - | 5,933 | 120 |
Total pasivo no corriente | 34,180 | 44,214 | 44,559 | |
Activos totales menos pasivos totales | 866,728 | 853,119 | 896,658 | |
Equidad | ||||
Capital social | 14,558 | 14,558 | 14,558 | |
Compartir premium | 42 | 42 | 42 | |
Acciones propias poseídas | (2,963) | (2,963) | (2,963) | |
Reserva de conversión de moneda | 8,210 | 17,565 | 6,772 | |
Reserva de cobertura de flujo de efectivo | 9,869 | (9,371) | 6,552 | |
Ganancias retenidas | 836,649 | 833,807 | 871,777 | |
Otra reserva | 940 | 58 | 497 | |
Patrimonio atribuible a los accionistas de la matriz | 867,305 | 853,696 | 897,235 | |
Interes no controlado | (577) | (577) | (577) | |
Equidad total | 866,728 | 853,119 | 896,658 |
Estado de cambios en el patrimonio neto consolidado
Sin auditar |
Compartir capital 000 £ |
Compartir producto de más alta calidad. 000 £
| Propia las acciones retenida 000 £ | Moneda traducción reserva 000 £ | Flujo de fondos de cobertura reserva 000 £ |
retenido ganancias 000 £ |
Otro reserva 000 £ | No- CONTROL intereses 000 £
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Total 000 £
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Saldo al 30 de junio de 2022 | 14,558 | 42 | (750) | 14,459 | (10,923) | 798,541 | (180) | (577) | 815,170 |
Beneficio del período | - | - | - | - | - | 64,068 | - | - | 64,068 |
Otros ingresos y gastos integrales (neto de impuestos) | |||||||||
Nueva medición de los pasivos por pensiones de beneficios definidos | - | - | - | - | - | 12,388 | - | - | 12,388 |
Diferencias de conversión de moneda extranjera | - | - | - | 2,650 | - | - | - | - | 2,650 |
Relating to joint ventures | - | - | - | 456 | - | - | - | - | 456 |
Cambios en el valor razonable de las coberturas de flujos de efectivo | - | - | - | - | 1,552 | - | - | - | 1,552 |
Total de otros ingresos y gastos integrales | - | - | - | 3,106 | 1,552 | 12,388 | - | - | 17,046 |
Total de ingresos y gastos integrales | - | - | - | 3,106 | 1,552 | 76,456 | - | - | 81,114 |
Transacciones con propietarios registradas en el patrimonio | |||||||||
Cargo por pagos basados en acciones | - | - | - | - | - | - | 238 | - | 238 |
Compra de acciones propias | - | - | (2,213) | - | - | - | - | - | (2,213) |
Dividendos pagados | - | - | - | - | - | (41,190) | - | - | (41,190) |
Saldo al 31 de diciembre de 2022 | 14,558 | 42 | (2,963) | 17,565 | (9,371) | 833,807 | 58 | (577) | 853,119 |
Beneficio del período | - | - | - | - | - | 52,034 | - | - | 52,034 |
Otros ingresos y gastos integrales (neto de impuestos) | |||||||||
Nueva medición de los pasivos por pensiones de beneficios definidos | - | - | - | - | - | (1,847) | - | - | (1,847) |
Diferencias de conversión de moneda extranjera | - | - | - | (10,337) | - | - | - | - | (10,337) |
Relating to joint ventures | - | - | - | (456) | - | - | - | - | (456) |
Cambios en el valor razonable de las coberturas de flujos de efectivo | - | - | - | - | 15,923 | - | - | - | 15,923 |
Total de otros ingresos y gastos integrales | - | - | - | (10,793) | 15,923 | (1,847) | - | - | 3,283 |
Total de ingresos y gastos integrales | - | - | - | (10,793) | 15,923 | 50,187 | - | - | 55,317 |
Transacciones con propietarios registradas en el patrimonio | |||||||||
Cargo por pagos basados en acciones | - | - | - | - | - | - | 439 | - | 439 |
Dividendos pagados | - | - | - | - | - | (12,217) | - | - | (12,217) |
Saldo al 30 de junio de 2023 | 14,558 | 42 | (2,963) | 6,772 | 6,552 | 871,777 | 497 | (577) | 896,658 |
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Beneficio del período | - | - | - | - | - | 45,177 | - | - | 45,177 |
Otros ingresos y gastos integrales (neto de impuestos) | |||||||||
Nueva medición de los pasivos por pensiones de beneficios definidos | - | - | - | - | - | (37,110) | - | - | (37,110) |
Diferencias de conversión de moneda extranjera | - | - | - | 1,279 | - | - | - | - | 1,279 |
Relating to joint ventures | - | - | - | 159 | - | - | - | - | 159 |
Cambios en el valor razonable de las coberturas de flujos de efectivo | - | - | - | - | 3,317 | - | - | - | 3,317 |
Total de otros ingresos y gastos integrales | - | - | - | 1,438 | 3,317 | (37,110) | - | - | (32,355) |
Total de ingresos y gastos integrales | - | - | - | 1,438 | 3,317 | 8,067 | - | - | 12,822 |
Transacciones con propietarios registradas en el patrimonio | |||||||||
Cargo por pagos basados en acciones | - | - | - | - | - | - | 443 | - | 443 |
Dividendos pagados | - | - | - | - | - | (43,195) | - | - | (43,195) |
Saldo al 31 de diciembre de 2023 | 14,558 | 42 | (2,963) | 8,210 | 9,869 | 836,649 | 940 | (577) | 866,728 |
Estado de flujo de efectivo consolidado
Sin auditar meses a 6 31 diciembre 2023 000 £ | Sin auditar meses a 6 31 diciembre 2022 000 £ | auditado Año terminado 30 junio 2023 000 £ | |
flujos de efectivo por actividades operacionales | |||
Beneficio del período | 45,177 | 64,068 | 116,102 |
Ajustes para: |
| ||
Depreciación de propiedad, planta y equipo, y propiedades de inversión | 9,319 | 8,741 | 19,882 |
(Ganancia) / pérdida por venta de propiedades, planta y equipo | (29) | 302 | 155 |
Depreciación de activos por derecho de uso | 2,187 | 1,974 | 4,223 |
Amortización de costos de desarrollo | 2,477 | 2,527 | 5,150 |
Deterioro de los costos de desarrollo | - | - | 1,611 |
Amortización de otros intangibles | 411 | 581 | 1,012 |
Pérdida por enajenación de activos intangibles | - | - | 550 |
Participación en beneficios de empresas conjuntas | (2,530) | (1,803) | (2,768) |
Planes de pensiones de beneficios definidos costo de servicio pasado | 397 | - | 2,437 |
Ingresos financieros | (7,168) | (5,003) | (9,669) |
Gastos financieros | 351 | 290 | 1,861 |
Ganancias por el valor razonable de instrumentos financieros | - | (4,350) | (5,504) |
Gastos de pago basados en acciones | 445 | 239 | 677 |
Gasto de impuestos | 11,364 | 13,746 | 28,963 |
17,224 | 17,244 | 48,580 | |
Disminución / (aumento) de inventarios | 11,374 | (17,272) | (23,275) |
Disminución / (aumento) de cuentas por cobrar comerciales y otras | 486 | 1,777 | (12,379) |
Disminución de cuentas por pagar comerciales y otras | (6,381) | (24,411) | (15,013) |
Disminución de provisiones | (36) | (732) | (1,486) |
5,443 | (40,638) | (52,153) | |
Contribuciones al régimen de pensiones de prestaciones definidas | (83) | (2,260) | (2,341) |
Impuestos a la renta pagados | (12,191) | (16,858) | (25,891) |
flujos de efectivo por actividades operacionales | 55,570 | 21,556 | 84,297 |
|
| ||
Actividades de inversión |
|
| |
Compra de propiedad, planta y equipo, y propiedades de inversión | (40,443) | (20,229) | (74,024) |
Venta de propiedades, planta y equipo | 200 | 2,636 | 7,948 |
Costos de desarrollo capitalizados | (4,542) | (4,201) | (10,448) |
Compra de otros intangibles | (30) | (609) | (379) |
Disminución/(aumento) de los depósitos bancarios | 6,000 | (55,541) | (25,000) |
Interés recibido | 4,745 | 2,575 | 6,302 |
Dividendo recibido de empresas conjuntas | 573 | 924 | 924 |
Flujos de efectivo de actividades de inversión | (33,497) | (74,445) | (94,677) |
|
| ||
Actividades de financiación |
|
| |
Reembolso de préstamos | (393) | (494) | (914) |
Pago interesado | (351) | (274) | (656) |
Reembolso del principal de los pasivos por arrendamiento | (2,607) | (2,100) | (4,206) |
Compra de acciones propias | - | (2,212) | (2,213) |
Dividendos pagados | (43,195) | (41,190) | (53,407) |
Flujos de efectivo de actividades de financiación | (46,546) | (46,270) | (61,396) |
|
| ||
Disminución neta de efectivo y equivalentes de efectivo | (24,473) | (99,159) | (71,776) |
Efectivo y equivalentes de efectivo al comienzo del período | 81,388 | 153,162 | 153,162 |
Efecto de las fluctuaciones del tipo de cambio en el efectivo mantenido | 2,343 | 1,954 | 2 |
Efectivo y equivalentes de efectivo al final del período | 59,258 | 55,957 | 81,388 |
Notas
1. Base de preparación
El informe intermedio, que incluye los estados financieros resumidos consolidados para los seis meses terminados el 31 de diciembre de 2023, fue aprobado por los Directores el 6 de febrero de 2024.
Los estados financieros resumidos consolidados para los seis meses finalizados el 31 de diciembre de 2023 se prepararon de conformidad con la Norma Internacional de Contabilidad 34 'Información Financiera Intermedia' (NIC 34) emitida por el Consejo de Normas Internacionales de Contabilidad y adoptada por el Reino Unido. Estos aplican las mismas políticas contables, presentación y métodos de cálculo que se aplicaron en la preparación de los estados financieros consolidados del Grupo para el año terminado el 30 de junio de 2023, excepto por los impuestos a las ganancias que se devengan utilizando la tasa impositiva prevista para el año financiero, y excepto por la adopción de nuevas normas contables.
Los estados financieros resumidos consolidados incluidos en este Informe no han sido auditados y no constituyen las cuentas legales del Grupo tal como se define en la sección 434 de la Ley de Sociedades de 2006. La información relativa al ejercicio finalizado el 30 de junio de 2023 es un extracto del Informe Anual publicado por el Grupo. Informe de ese año, que ha sido entregado al Registrador de Empresas, y en el cual el informe del auditor fue sin salvedades y no contenía ningún énfasis o declaración bajo la sección 498(2) o 498(3) de la Ley de Sociedades de 2006.
Preocupación continua
The Directors have prepared the unaudited interim financial information on a going concern basis. In considering the going concern basis, the Directors have considered the previously mentioned principal risks and uncertainties, as well as the Group's current trading performance and updated cashflow forecasts. The Directors have also considered the financial resources available to the Group, with net current assets of £448.6m at 31 December 2023 (compared to £470.8m at 30 June 2023), including £178.3m cash and bank deposits at 31 December 2023.
We have updated our reverse stress testing to identify what would need to happen in the period to 28 February 2025 for the Group to deplete its cash and cash equivalents and bank deposit balances. This identified a trading level so low (significantly below FY2023 revenue) that the Directors feel that the events that could trigger this would be remote. The Directors also concluded that a one-off cash outflow that would exhaust the Group's cash and cash equivalents and bank deposit balances in the assessment period was also remote.
Based on this assessment, the Directors have a reasonable expectation that the Group will be able to continue operation and meet its liabilities as they fall due over the period to 28 February 2025.
2. Información segmentaria
The Group manages its business in two segments, being Manufacturing technologies and Analytical instruments and medical devices. Within each operating segment, there are multiple product offerings with similar economic characteristics, similar production processes and similar customer bases. The results of these segments are regularly reviewed by the Board to allocate resources and to assess their performance. Más detalles de los productos y servicios del Grupo se dan en el Informe Estratégico de la Memoria Anual 2023.
In normal trading conditions, although future revenue is difficult to predict given that the Group's outstanding order book is typically less than three months' worth of revenue value, larger consumer electronics orders in the APAC region within the manufacturing technologies segment typically fall in the first or last quarter of the financial year. In addition, the Group typically experiences lower demand in August and December, and so revenue and operating profits are typically lower in the first half of the year. This information is provided to allow for a better understanding of the results, and management does not believe that the business is 'highly seasonal' in accordance with IAS 34.
6 meses hasta el 31 de diciembre de 2023 |
Tecnologías de fabricación | Instrumentos analíticos y dispositivos médicos |
Total |
| 000 £ | 000 £ | 000 £ |
Ingresos | 311,069 | 19,420 | 330,489 |
Depreciación, amortización y deterioro | 13,391 | 783 | 14,174 |
|
|
| |
Beneficio operativo | 45,953 | 1,241 | 47,194 |
Participación en beneficios de empresas conjuntas | 2,530 | - | 2,530 |
Ingresos financieros netos | - | - | 6,817 |
Beneficio antes de impuestos | - | - | 56,541 |
6 meses hasta el 31 de diciembre de 2022 | |||
Ingresos | 330,916 | 16,763 | 347,679 |
Depreciación, amortización y deterioro | 12,841 | 982 | 13,823 |
Beneficio operativo antes de pérdidas del valor razonable de instrumentos financieros | 72,957 | 133 | 73,090 |
Participación en beneficios de empresas conjuntas | 1,803 | - | 1,803 |
Ingresos financieros netos | - | - | 4,713 |
Pérdidas del valor razonable de instrumentos financieros | - | - | (1,792) |
Beneficio antes de impuestos | - | - | 77,814 |
Año terminado el 30 de junio de 2023 | |||
Ingresos | 648,240 | 40,333 | 688,573 |
Depreciación, amortización y deterioro | 28,431 | 3,447 | 31,788 |
Beneficio operativo antes de pérdidas del valor razonable de instrumentos financieros | 132,843 | 5,184 | 138,027 |
Participación en beneficios de empresas conjuntas | 2,768 | - | 2,768 |
Ingresos financieros netos | - | - | 7,808 |
Costo de servicio pasado del plan de pensiones de beneficios definidos de EE. UU. | - | - | (2,139) |
Pérdidas del valor razonable de instrumentos financieros | - | - | (1,399) |
Beneficio antes de impuestos | - | - | 145,065 |
No hay asignación de activos y pasivos a los segmentos operativos. La depreciación se incluye dentro de ciertos otros gastos generales que se asignan a los segmentos sobre la base del nivel de actividad.
La siguiente tabla muestra la desagregación de los ingresos del Grupo por categoría:
meses a 6 31 diciembre 2023 000 £ | meses a 6 31 diciembre 2022 000 £ | Año terminado 30 junio 2023 000 £ | |
Bienes, equipo de capital e instalación | 300,745 | 318,959 | 624,992 |
Servicios posventa | 29,744 | 28,720 | 63,581 |
Ingresos totales del grupo | 330,489 | 347,679 | 688,573 |
Los servicios posventa incluyen reparaciones, mantenimiento y servicio, programación, capacitación, garantías extendidas y licencias y mantenimiento de software. No existe una diferencia significativa entre nuestros dos segmentos operativos en cuanto a su división de ingresos por tipo.
La siguiente tabla muestra el análisis de los ingresos por mercado geográfico:
meses a 6 31 diciembre 2023 000 £ | meses a 6 31 diciembre 2022 000 £ | Año terminado 30 junio 2023 000 £ | |
APAC | 161,199 | 161,726 | 310,637 |
Reino Unido (país de domicilio) | 17,173 | 18,942 | 38,899 |
EMEA, excepto Reino Unido | 80,035 | 83,497 | 177,582 |
EMEA | 97,208 | 102,439 | 216,481 |
América | 72,082 | 83,514 | 161,455 |
Ingresos totales del grupo | 330,489 | 347,679 | 688,573 |
Revenue in the above table has been allocated to regions based on the location of the customer. Countries with individually significant revenue figures in the context of the Group were:
meses a 6 31 diciembre 2023 000 £ | meses a 6 31 diciembre 2022 000 £ | Año terminado 30 junio 2023 000 £ | |
China | 90,369 | 81,112 | 155,360 |
Estados Unidos de America | 60,707 | 73,157 | 138,721 |
Japón | 26,366 | 34,678 | 67,915 |
Alemania | 25,646 | 30,089 | 61,565 |
No hubo ingresos por transacciones con un solo cliente externo que ascendieran al 10% o más de los ingresos totales del Grupo.
3. Costo de ventas
| meses a 6 31 diciembre 2023 000 £ | meses a 6 31 diciembre 2022 000 £ | Año terminado 30 junio 2023 000 £ |
| |||
Costos de producción | 130,473 | 126,333 | 247,665 |
Gastos de investigación y desarrollo | 32,156 | 36,202 | 72,500 |
Otros gastos de ingeniería | 19,390 | 14,114 | 28,063 |
Gasto bruto de ingeniería | 51,546 | 50,316 | 100,563 |
Gasto de desarrollo capitalizado (neto de amortización) | (2,065) | (1,674) | (5,298) |
Gastos de desarrollo deteriorados | - | - | 1,611 |
Crédito fiscal para investigación y desarrollo | (4,050) | (2,533) | (6,633) |
Costos totales de ingeniería | 45,431 | 46,109 | 90,243 |
Costo total de ventas | 175,904 | 172,442 | 337,908 |
4. Ingresos y gastos financieros
| meses a 6 31 diciembre 2023 000 £ | meses a 6 31 diciembre 2022 000 £ | Año terminado 30 junio 2023 000 £ |
Ingresos financieros | |||
Intereses bancarios por cobrar | 4,745 | 2,575 | 6,302 |
Intereses sobre los activos de los planes de pensiones | 1,439 | 844 | 1,639 |
Ganancias de valor razonable de contratos de divisas a plazo de un mes | 380 | 59 | 1,728 |
Ganancias monetarias | 604 | 1,525 | - |
Ingresos financieros totales | 7,168 | 5,003 | 9,669 |
Gastos financieros | |||
Intereses sobre los pasivos de los planes de pensiones | - | 16 | 29 |
Pérdidas cambiarias | - | - | 1,130 |
Intereses de arrendamiento | 214 | 171 | 348 |
Intereses pagaderos sobre préstamos | 24 | 52 | 46 |
Otros intereses por pagar | 113 | 51 | 308 |
Gastos financieros totales | 351 | 290 | 1,861 |
Las ganancias y pérdidas cambiarias se relacionan con las revaluaciones de los saldos denominados en moneda extranjera utilizando las tasas de cambio de moneda más recientes. Ciertos saldos intragrupo se clasifican como 'inversiones netas en operaciones en el extranjero', de modo que las revaluaciones de los movimientos de divisas en los saldos designados se acumulan en la Reserva de conversión de divisas en Patrimonio. Los contratos de divisas a plazo renovables a un mes se utilizan para compensar los movimientos de divisas en los saldos intragrupo restantes, y las ganancias y pérdidas de valor razonable se reconocen en ingresos o gastos financieros.
5. Fiscalidad
The income tax expense in the Consolidated income statement has been estimated at a rate of 20.1% (H1 FY2023: 17.7%), based on management's best estimate of the full-year effective tax rates by geographical unit applied to half-year profits. This is comparable with the 20.0% reported in FY2023.
6. Beneficio por acción
Las ganancias por acción para los seis meses finalizados el 31 de diciembre de 2023 se calculan sobre ganancias de £45,177,000 2022 64,068,000 (diciembre de 72,719,565: £2022 72,719,565 68,978) y sobre 2022 68,978 XNUMX acciones (diciembre de XNUMX: XNUMX XNUMX XNUMX acciones), siendo el número de acciones en circulación durante el período. Esto excluye XNUMX XNUMX acciones (diciembre de XNUMX: XNUMX XNUMX acciones) en poder de Renishaw Employee Benefit Trust.
7. Dividendos
Los dividendos pagados durante el período fueron:
| meses a 6 31 diciembre 2023 000 £ | meses a 6 31 diciembre 2022 000 £ | Año terminado 30 junio 2023 000 £ |
| |||
FY2023 final dividend paid of 59.4p per share (FY2022: 56.6p) | 43,195 | 41,190 | 41,190 |
Interim dividend paid of 16.8p per share (FY2022: 16.0p) | - | - | 12,217 |
Dividendos totales pagados durante el período | 43,195 | 41,190 | 53,407 |
A todos los accionistas inscritos el 8 de marzo de 2024 se les pagará un dividendo a cuenta de 16.8 peniques netos por acción el 9 de abril de 2024, lo que dará como resultado un dividendo pagadero de £12,228,475 XNUMX XNUMX.
8. Propiedades, planta y equipo
| Propiedad vitalicia tierra y edificios |
Planta y equipo |
Motor vehículos | Activos en el curso de construccion |
Total |
| 000 £ | 000 £ | 000 £ | 000 £ | 000 £ |
Cost | |||||
Al 1 de julio de 2023 | 213,385 | 273,156 | 7,112 | 53,469 | 547,122 |
Adiciones | 491 | 3,841 | 171 | 35,939 | 40,442 |
Mudanzas | 3,591 | 2,264 | - | (5,855) | - |
Disposiciones | - | (548) | (562) | - | (1,110) |
Ajuste de moneda | 1,098 | 317 | 36 | - | 1,451 |
Al 31 de diciembre de 2023 | 218,565 | 279,030 | 6,757 | 83,553 | 587,905 |
Depreciación | |||||
Al 1 de julio de 2023 | 45,647 | 209,546 | 5,844 | - | 261,037 |
Cobrar por el período | 2,022 | 6,929 | 285 | - | 9,236 |
Liberado en enajenaciones | - | (390) | (549) | - | (939) |
Ajuste de moneda | 274 | 236 | 25 | - | 535 |
Al 31 de diciembre de 2023 | 47,943 | 216,321 | 5,605 | - | 269,869 |
Valor neto contable |
|
|
|
|
|
Al 31 de diciembre de 2023 | 170,622 | 62,709 | 1,152 | 83,553 | 318,036 |
Al 30 de junio de 2023 | 167,738 | 63,610 | 1,268 | 53,469 | 286,085 |
Additions to assets in the course of construction of £35,939,000 (December 2022: £17,363,000) comprise £25,685,000 (December 2022: £8,474,000) for freehold land and buildings and £10,254,000 (December 2022: £8,889,000) for plant and equipment. At the end of the period, assets in the course of construction, not yet transferred, of £83,553,000 (December 2022: £23,914,000) comprise £62,777,000 (December 2022: £9,707,000) for freehold land and buildings and £20,776,000 (December 2022: £14,207,000) for plant and equipment. This mostly relates to the expansion of our manufacturing facility in Miskin, Wales.
9. Activos intangibles
Goodwill
| Otros activos intangibles | Internamente generado costos de desarrollo | Software licencias y propiedad intelectual |
Total | |
000 £ | 000 £ | 000 £ | 000 £ | 000 £ | |
Cost |
| ||||
Al 1 de julio de 2023 | 20,261 | 4,875 | 178,660 | 11,978 | 215,774 |
Adiciones | - | - | 4,542 | 30 | 4,572 |
Ajuste de moneda | 156 | 6 | - | 13 | 175 |
Al 31 de diciembre de 2023 | 20,417 | 4,881 | 183,202 | 12,021 | 220,521 |
| |||||
Amortización |
| ||||
Al 1 de julio de 2023 | 9,028 | 2,452 | 146,221 | 11,605 | 169,306 |
Cobrar por el período | - | 107 | 2,477 | 304 | 2,888 |
Ajuste de moneda | - | (1) | - | 9 | 8 |
Al 31 de diciembre de 2023 | 9,028 | 2,558 | 148,698 | 11,918 | 172,202 |
| |||||
Valor neto contable |
|
|
|
|
|
Al 31 de diciembre de 2023 | 11,389 | 2,323 | 34,504 | 103 | 48,319 |
Al 30 de junio de 2023 | 11,233 | 2,423 | 32,439 | 373 | 46,468 |
As detailed in the 2023 Annual Report, the key assumption in determining the value-in-use of intangible assets are sales forecasts. Latest sales forecasts, and other factors which may impact the business plans, for relevant cash generating units have been reviewed for indicators of impairment at 31 December 2023. This includes an assessment of our discount rate based on prevailing market assumptions at 31 December 2023, which has remained at 10.7%. As a result, no impairments have been recognised in the six months to 31 December 2023 (December 2022: nil).
10. Instrumentos financieros
No existe una diferencia significativa entre el valor razonable de los activos y pasivos financieros y su valor en libros en el Balance de situación consolidado. Todos los activos y pasivos financieros se mantienen a costo amortizado, excepto los contratos de cambio a plazo que se mantienen a valor razonable, con cambios en el Estado de resultados consolidado a menos que estén sujetos a contabilidad de cobertura. Los valores razonables de los contratos de cambio a plazo han sido calculados por un experto externo, descontando los flujos de efectivo futuros estimados sobre la base de las expectativas del mercado de tipos de cambio futuros, lo que representa el nivel 2 en la jerarquía de valor razonable de la NIIF 13. No hubo transferencias entre niveles durante ningún período divulgado.
Riesgo crediticio
The Group carries a credit risk relating to non-payment of trade receivables by its customers and establishes an allowance for impairment in respect of trade receivables where recoverability is considered doubtful. In the six months to 31 December 2023, the Group has generally not experienced a deterioration in debtor repayments nor in the assumptions used in calculating allowances for expected credit losses. At 31 December 2023, total expected credit losses amounted to £4,170,000, (3.5% of gross trade receivables), compared with £3,348,000 at 30 June 2023 (2.7% of gross trade receivables).
Riesgo de liquidez
The Group's approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, and the Group continues to use monthly cash flow forecasts on a rolling 12-month basis to monitor cash requirements. Cash and cash equivalents and bank deposits at 31 December 2023 totalled £178,258,000, compared with £206,388,000 at 30 June 2023. This reduction included a dividend payment of £43,195,000 and cash generation from operating activities of £55,570,000 during the period. In consideration of this, the Group remains in a strong liquidity position.
Riesgo de mercado
The Group continues to mitigate market risk on cash flows using USD, EUR and JPY forward currency contracts. At 31 December 2023 the total nominal value of USD, EUR and JPY forward contracts held for cash flow hedging purposes was £414,873,000 (December 2022: £525,603,000). At 31 December 2023, there were no remaining forward contracts ineffective for cash flow hedging and yet to mature (December 2022: £21,950,000), with no additional forward contracts becoming ineffective for hedge accounting purposes in the six months to 31 December 2023. A decrease of 10% in the highly probable revenue forecasts of Renishaw plc and Renishaw UK Sales Limited, being the hedged item, would result in no forward contracts becoming ineffective at 31 December 2023.
11. Employee benefits
The net surplus of the Group's defined benefit pension schemes, on an IAS 19 basis, has reduced from a £57,371,000 asset at 30 June 2023 to a £9,038,000 asset at 31 December 2023. The difference largely relates to the insurance buy-in of the UK scheme, described below. The US scheme has now been fully terminated, and the Ireland scheme is in a deficit position of £90,000. The approach and methodologies used to calculate liabilities at 31 December 2023 are consistent with 30 June 2023.
During the 6 months to 31 December 2023, the Trustee of the UK defined benefit pension scheme undertook a buy-in and insured around 99% of the Scheme's liabilities by purchasing an insurance policy. This contract is effective from 19 October 2023 and is held in the name of the Trustee. The value of the contract is recognised as a Fund asset for the purposes of IAS19. In line with IAS19.115, for a buy-in insurance contract such as this, where the income received from the policy matches exactly the benefit payments due to the members it is covering, the value attributable to the contract to be recognised as an asset is the equivalent IAS19 value of the corresponding liabilities.
The value of the corresponding IAS19 liabilities for the members covered by the buy-in contract was calculated based on individual member data as at 27 January 2023, allowing for known deaths and transfer-outs between 27 January 2023 and 19 October 2023. The IAS19 liabilities in respect of the buy-in policy were lower than the transaction price of the insurance contract. Consequently, the value attributable to the insurance contract has reduced from the actual price paid, and the resulting remeasurement loss (or 'strain') is recognised in the 'Return on plan assets' item in the Consolidated Statement of Comprehensive Income and Expense. The IAS19 liabilities as at 19 October 2023 were £118,500,000. The final premium paid for the buy-in was £150,400,000, and therefore a loss of £31,900,000 has been reflected in the OCI.
Benefits in the UK Fund are subject to a DC underpin at the point of retirement or transfer out. Historically, this has been allowed for in the accounts in a consistent manner to current administrative practice and the triennial funding valuations. During the buy-in process, it was identified that the drafting of the DC underpin in the UK Fund Rules may require that the DC underpin is applied in a manner which is different to the administrative practice which has been applied. The Trustee and Company are currently seeking legal clarification and advice on this issue. No allowance for this matter has been made in the 31 December 2023 position, due to the uncertainty of legal treatment and therefore any potential impact on liabilities. This position will be reviewed at year-end. There is also uncertainly around the process required to resolve these potential issues, therefore a provision for legal fees relating to this have not yet been recognised.
Separately, in June 2023, the High Court ruled that certain historic amendments made to the rules of the Virgin Media pension scheme were invalid without the scheme's actuary having provided the associated S37 certificates necessary. This judgment has been appealed to the Court of Appeal, particularly the extent to which invalidity of past changes to the Virgin Media pension scheme's rules could affect associated benefit entitlements of members of that pension scheme. If upheld, the High Court's decision could have wider ranging implications, affecting other schemes that were contracted-out on a salary-related basis, and made amendments between April 1997 and April 2016. The UK Fund was contracted out until 5 April 2007 and amendments were made during the relevant period and as such the ruling could have implications for the UK Fund. However, as we are still awaiting a final outcome to the Virgin Media case, the possible implications for the Fund have not been investigated in detail at this stage. The Court of Appeal hearing for the Virgin Media case has been set for 25 June 2024. The Trustee and Company will continue to seek legal advice on the matter and act accordingly.
12. Medidas alternativas de desempeño
In accordance with Renishaw's Alternative Performance Measures (APMs) policy and ESMA Guidelines on Alternative Performance Measures (2015), APMs are defined as: Revenue at constant exchange rates; Adjusted profit before tax; Adjusted earnings per share; and Adjusted operating profit.
Los ingresos a tipos de cambio constantes se definen como los ingresos recalculados utilizando las mismas tasas que se aplicaron al año anterior y excluyendo las ganancias y pérdidas de contratos a plazo.
Ingresos a tipos de cambio constantes |
| 6 meses hasta el 31 de diciembre de 2023 | 6 meses hasta el 31 de diciembre de 2022 |
| 000 £ | 000 £ | |
|
| ||
Ingresos estatutarios según lo informado |
| 330,489 | 347,679 |
Ajuste por pérdidas de contratos a plazo |
| 1,853 | 7,045 |
Ajuste para reexpresar a tipos de cambio de años anteriores |
| 14,610 | - |
Ingresos a tipos de cambio constantes |
| 346,952 | 354,724 |
Crecimiento interanual de los ingresos a tipos de cambio constantes |
| -2% | - |
Adjusted profit before tax, Adjusted earnings per share and Adjusted operating profit are defined as the profit before tax, earnings per share and operating profit after excluding costs relating to business restructuring, and gains and losses in fair value from forward currency contracts which did not qualify for hedge accounting and which have yet to mature.
El Consejo considera que estas medidas de desempeño alternativas son más relevantes y confiables para evaluar el desempeño del Grupo.
Beneficio ajustado antes de impuestos | 6 meses hasta el 31 de diciembre de 2023 | 6 meses al 31 de diciembre de 2022 | Ejercicio finalizado el 30 de junio de 2023 |
000 £ | 000 £ | 000 £ | |
| |||
Beneficio legal antes de impuestos | 56,541 | 77,814 | 145,065 |
Estimación revisada de las provisiones de reestructuración del año fiscal 2020 | - | - | (717) |
Costo de servicio pasado del plan de pensiones de beneficios definidos de EE. UU. | - | - | 2,139 |
Valor razonable (ganancias) / pérdidas de instrumentos financieros no elegibles para contabilidad de cobertura |
| ||
- reportado en ingresos | - | (6,142) | (6,903) |
- informado en (ganancias) / pérdidas del valor razonable de los instrumentos financieros | - | 1,792 | 1,399 |
Beneficio ajustado antes de impuestos | 56,541 | 73,464 | 140,983 |
Ganancias ajustadas por acción | 6 meses hasta el 31 de diciembre de 2023 | 6 meses hasta el 31 de diciembre de 2022 | Año terminado el 30 de junio de 2023 |
penique | penique | penique | |
Ganancias legales por acción | 62.1 | 88.1 | 159.7 |
Estimación revisada de las provisiones de reestructuración del año fiscal 2020 | - | - | (0.8) |
Costo de servicio pasado del plan de pensiones de beneficios definidos de EE. UU. | - | - | 2.2 |
Valor razonable (ganancias) / pérdidas de instrumentos financieros no elegibles para contabilidad de cobertura |
| ||
- reportado en ingresos | - | (6.7) | (7.5) |
- informado en (ganancias) / pérdidas del valor razonable de los instrumentos financieros | - | 2.0 | 1.5 |
Ganancias ajustadas por acción | 62.1 | 83.4 | 155.1 |
Beneficio operativo ajustado | 6 meses hasta el 31 de diciembre de 2023 | meses a 6 31 de diciembre 2022 | Año terminado el 30 de junio de 2023 |
000 £ | 000 £ | 000 £ | |
Beneficio operativo legal | 47,194 | 71,298 | 134,489 |
Estimación revisada de las provisiones de reestructuración del año fiscal 2020 | - | - | (717) |
Costo de servicio pasado del plan de pensiones de beneficios definidos de EE. UU. | - | - | 2,139 |
Valor razonable (ganancias) / pérdidas de instrumentos financieros no elegibles para contabilidad de cobertura |
| ||
- reportado en ingresos | - | (6,142) | (6,903) |
- informado en (ganancias) / pérdidas del valor razonable de los instrumentos financieros | - | 1,792 | 1,399 |
Beneficio operativo ajustado | 47,194 | 66,948 | 130,407 |
Ajustes al resultado operativo del segmento:
Tecnologías de fabricación | 6 meses hasta el 31 de diciembre de 2023 | meses a 6 31 de diciembre 2022 | Año terminado el 30 de junio 2023 |
000 £ | 000 £ | 000 £ | |
Beneficio operativo antes de ganancias del valor razonable de instrumentos financieros | 45,953 | 72,957 | 132,843 |
Estimación revisada de las provisiones de reestructuración del año fiscal 2020 | - | - | (717) |
Fair value gains on financial instruments not eligible for hedge accounting |
| ||
- reportado en ingresos | - | (6,131) | (6,644) |
Utilidad operativa ajustada de las tecnologías de fabricación | 45,953 | 66,826 | 125,482 |
Instrumentos analíticos y dispositivos médicos | 6 meses hasta el 31 de diciembre de 2023 | 6 meses hasta el 31 de diciembre de 2022 | Año terminado el 30 de junio de 2023 |
000 £ | 000 £ | 000 £ | |
Beneficio operativo antes de ganancias del valor razonable de instrumentos financieros | 1,241 | 133 | 5,184 |
Fair value gains on financial instruments not eligible for hedge accounting |
| ||
- reportado en ingresos | - | (11) | (259) |
Beneficio operativo ajustado de instrumentos analíticos y dispositivos médicos | 1,241 | 122 | 4,925 |
13. Transacciones con partes relacionadas y hechos posteriores al final del período sobre el que se informa
Las transacciones entre la Compañía y sus subsidiarias, que son partes relacionadas, han sido eliminadas en la consolidación y no se revelan en esta nota. Los detalles completos de las otras relaciones, transacciones y saldos con partes relacionadas del Grupo se proporcionan en el Informe Anual del Grupo para el año que finalizó el 30 de junio de 2023.
No related party transactions have taken place in the first six months of the financial year, nor events subsequent to the end of the reporting period, that have materially affected the financial position or the performance of the Group during that period.
14. Declaración de responsabilidad
El conjunto resumido de estados financieros es responsabilidad y ha sido aprobado por los Directores. Confirmamos que a nuestro leal saber y entender:
- Tal como lo requiere el DTR 4.2 de las Reglas de Revelación y Reglas de Transparencia, el conjunto resumido de estados financieros, que ha sido preparado de conformidad con el conjunto de normas contables aplicables, brinda una imagen fiel de los activos, pasivos, situación financiera y resultado de la Sociedad y de las empresas incluidas en la consolidación en su conjunto. El informe provisional ha sido preparado de conformidad con la NIC 34, 'Información financiera provisional', emitida por el Consejo de Normas Internacionales de Contabilidad y adoptada por el Reino Unido.
- El informe intermedio incluye una revisión justa de la información requerida por:
(a) DTR 4.2.7 de las Reglas de Revelación y Reglas de Transparencia, siendo una indicación de eventos importantes que han ocurrido durante los primeros seis meses del ejercicio financiero y su impacto en el conjunto resumido de estados financieros; y una descripción de los principales riesgos e incertidumbres para los seis meses restantes del año; y
(b) DTR 4.2.8 de las Reglas de Revelación y Reglas de Transparencia, siendo transacciones con partes relacionadas que han tenido lugar en los primeros seis meses del año fiscal en curso y que han afectado materialmente la posición financiera o el desempeño de la entidad durante ese período; y cualquier cambio en las operaciones con partes relacionadas descritas en el último Informe Anual que pudiera hacerlo.
En nombre de la Junta
Allen Roberts FCA
Director de Finanzas del Grupo
6 de febrero de 2024
Oficina registrada:
Renishaw plc
Nuevos molinos
Wotton bajo el borde
Gloucestershire
GL12 8JR
UK
Número registrado: | 01106260 |
Teléfono: | +44 1453 524524 |
Email: | |
Pagina web: | www.renishaw.es |
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