Spectris plc

Today we have published our 2024 Q3 update. While our core markets have stabilised, the recovery anticipated at the time of our half year results is taking longer to materialise and against this backdrop, we have lowered our guidance for 2024. The decisive action we are taking on cost, and a strong focus on executing our strategy, means we are well placed to benefit as our end markets continue to recover.   The high-quality acquisitions that we have made this year have strengthened our business significantly, and the enhancements to our customer propositions, and confidence in synergy delivery, in addition to other self-help actions, is structurally increasing our ability to deliver against our medium-term financial targets. The full press release is available on the Spectris website: https://lnkd.in/eewjCBEA

Today marks World Mental Health Day, a day where we recognise and advocate for mental health education, awareness and understanding. Today provides an ideal opportunity to pause, reflect and check in on yourself and those around you. Our mental health should not just be a once-a-year discussion. In a fast-changing world, more and more people are experiencing stress that can lead to burnout. Knowing what our minds need to stay healthy is key – and it is different for all of us. Across Spectris, we are committed to recognising and supporting our people. From employee assistance programmes that offer direct and targeted help, to active mental health first aider volunteer programmes, each of our businesses is building a conversation around mental health. Over the coming weeks we will be amplifying this conversation in conjunction with the The Wellbeing Project, with targeted sessions to better understand how we can monitor and support our own resilience. Our people are the heart of our business and our greatest strength is our wellbeing, so today and every day we are proud to be prioritising mental health in the workplace. #WorldMentalHealthDay

We’re delighted to celebrate our latest site to achieve Bronze level in our Spectris Business System – Darmstadt in Germany, part of HBK - Hottinger Brüel & Kjær, Spectris Dynamics. It’s been a two year journey and the team has fully embraced the tools and techniques in the SBS toolkit. Customers and colleagues can already feel the difference and the foundations are now in place to go for gold. Congratulations!

We are delighted to announce the acquisition of Piezocryst Advanced Sensorics GmbH, a leading provider of piezoelectric sensors, specialising in high-precision pressure sensors and accelerometers. Piezocryst, based in Graz, Austria will be integrated into HBK - Hottinger Brüel & Kjær within the Spectris Dynamics Division and represents a key milestone in our strategy to create a world leading, premium pressure and vibration sensing offering. This announcement follows our recent acquisitions of SciAps Inc. and Micromeritics Instrument Corporation in what is an incredibly exciting period for the Group in the delivery of our Strategy for Sustainable Growth. Congratulations to everyone involved in bringing this project to life – we look forward to welcoming the Piezocryst team to the Group. You can read the full announcement here: https://lnkd.in/dAmqdCci

Today we have published our 2024 half year results. As announced in June, our first half performance reflects a tough comparator and softer conditions in some of our end markets. Despite the market conditions, we have continued to actively deliver on our Strategy for Sustainable Growth – including the announcement of the acquisitions of SciAps and Micromeritics, successfully delivering our new ERP system in Malvern Panalytical and continuing to drive operational excellence through the deployment of the Spectris Business System. Our commitment to innovation and solving our customers most complex challenges means that 2024 will be a record year for new product launches across the Group – and we are proud to share some of the highlights from the launches to date, with further exciting developments to follow in H2. You can read the full H1 2024 press release here: https://lnkd.in/dyAA-p3Y

We are delighted to have announced the agreement to acquire Micromeritics Instrument Corporation (‘Micromeritics’). A copy of the full press release is available to view here https://lnkd.in/esexB2H4 Micromeritics is the world leader in analytical instrumentation for the physical characterisation of particles, powders and porous materials for fundamental research, product development and production quality control. Micromeritics will be integrated into Malvern Panalytical within the Spectris Scientific Division. This highly synergistic combination of two world leading businesses provides us with the unique opportunity to build a market-leading, highly differentiated and fully integrated offering in particle characterisation, while significantly increasing the Group’s presence in rapidly growing clean energy tech markets. Together with the recently announced acquisition of SciAps, the acquisition of Micromeritics is another step in the delivery of our Strategy for Sustainable Growth. We are excited to be acquiring such strong technology and market opportunities and equally excited to be bringing additional capability and visionary talent into the Group. This is a very exciting time for the Spectris Group and for Malvern Panalytical. We look forward to welcoming the Micromeritics team later this year.

Today we have announced the acquisition of SciAps Inc. SciAps will be integrated into Malvern Panalytical within the Spectris Scientific Division, with the acquisition scheduled to complete later this year. This exciting acquisition will see SciAps’ portfolio of innovative and differentiated handheld technology sit alongside Malvern Panalytical’s range of laboratory and benchtop equipment. SciAps has a strong culture of innovation, and their differentiated handheld technology has enabled them to develop a strong presence in the market over recent years, with an attractive pipeline of new products, making them a valuable addition to our Malvern Panalytical Business and the Spectris Group. This acquisition represents a key step in the delivery of our strategy for sustainable growth and we are looking forward to welcoming the SciAps team to the Spectris Group.

Today we have announced that Derek Harding will take on the role of President, Spectris Scientific to lead the Division through the next phase of its growth journey. We are delighted to also be welcoming Angela Noon OBE to the Board as Chief Financial Officer with effect from 1 September 2024. Our Spectris Scientific Division is now made up of three businesses: Malvern Panalytical, Particle Measuring Systems and Servomex. Each business is uniquely positioned in attractive growth markets, delivering premium products and services for our customers, developed and driven by a talented and dedicated workforce. In leading the Division, Derek will work closely with the Presidents of each of the three businesses to deliver our strategic growth ambitions. Commenting on the appointments, Andrew Heath said “I am delighted to welcome Angela to the Board. Her record of finance leadership, together with her wider industrial and technology experience will provide fresh and important perspectives to our leadership of the Group. I am excited by the energy and ambition that Derek will bring to leading the next phase of growth at Spectris Scientific. I am looking forward to working with Derek, Angela and the wider leadership team as we continue to execute our Strategy for Sustainable Growth.”

Yesterday we hosted the latest in a series of insight events covering different parts of the Spectris Group for our investors and analysts. The presentation focused on our leading contamination monitoring business, Particle Measuring Systems, where we delved into our leading technology, core markets, and the structural trends driving our growth. A big thank you to everyone who joined us and to the Particle Measuring Systems team who helped make the event such a success. For those who couldn’t attend, a recording of the event and the presentation resources are now available on our website using the below link. https://lnkd.in/d38bdePT #Innovation #PrecisionMeasurement #Contamination #Monitoring

At Spectris, we're proud to champion continuous learning and development. Ensuring that our people have the opportunity to develop their skills and careers is critical to ensuring engaged, motivated, and high-performing teams. This week, during “Learning at Work Week 2024” Malvern Panalytical and HBK - Hottinger Brüel & Kjær joined forces to inspire our colleagues and delivered over 35 insightful online events and webinars, focused on this year’s theme – Digital. Each event was designed and led by one of our internal experts, demonstrating not only their own continuous development but also the in-house thought leadership of our teams. Sessions delved into various areas of digital innovation, with topics ranging from ‘GenAI and Prompt Engineering’ and ‘Autonomous Robotics and Navigation’ to ‘Digital Product Development’, Digital Customer Journeys’ and many more! We also found creative ways to link Digital to our broader Wellbeing agenda. By learning from each other, we enhance our individual capabilities while enriching our collective knowledge base, driving us towards greater achievements and advancements. Learning at Work Week 2024 represents a really exciting extension of a programme that has existed in Malvern Panalytical for the past two years which has now successfully extended to HBK – congratulations to everyone involved! #LearningatWorkWeek #ProfessionalDevelopment #KnowledgeSharing #Talent #Team