Confidence in Strategy
Horizon is delivering tangible financial benefits and our continued execution of it has provided the capabilities needed to deliver continued progress in the face of exceptional challenges over the past few years. Our strategy has transformed the Group into a customer-centric, applications focused business, creating value through accelerating our customers’ outcomes and building positive futures for all our stakeholders. We believe that our focus on diverse global niche markets, each with long-term underlying growth drivers, provides resilience to our business model and positions us well to deliver sustainable growth and margin expansion.
Strong Financial Position
Our aim is to generate sustainable revenue growth and improved profitability, underpinned by strong cash conversion. These aims are supported by continued progress in commercial practices across the Group and gains from our operational excellence programme. We have a strong balance sheet that will further support business growth and the achievement of our strategy and deliver considerable long-term benefits.
World-class Brand Reputation
We are a globally recognised premium brand with a reputation for innovation, world-class product performance, unprecedented ease of use and excellence in service and support. Through our market intimacy we continue to strengthen our relationships with customers, developing more efficient and effective ways of increasing the value of our support offering. We continue to add value to existing customers, as well as creating growth opportunities in new market segments, through application‑specific solutions with improved workflows, bespoke analytics, data interpretation and associated support services.
Focus on Sustainability
Sustainability is the cornerstone of our strategy to drive stakeholder value and as a Group we recognise the important role we play and the impact we have on the environment and society. We remain committed to reducing the impact of our operations and encouraging engagement from our suppliers also. Through our products and services, we make a significant positive impact on the world by enabling a greener, healthier, more connected advanced society and as such we are well positioned to drive positive change in the world. As well as being a technical leader, Oxford Instruments is on the path to becoming a green leader in the marketplace
Access to Attractive Markets
The Group continues to focus on attractive markets where our key enabling technologies and services drive long-term growth for customers and where we can maintain leadership positions. Our access to diverse end markets alongside a responsive and targeted portfolio that supports all stages of the technology cycle, including academic, commercial R&D and high-tech manufacturing, allows us to present an integrated offering that has the potential to create significant barriers to entry for competitors. Our performance in the year reflected the underlying strength and breadth of our chosen end markets and their fundamental growth drivers.