Strategy for Sustainable Growth and new medium-term targets

19 Oct 2022
Press release
5 min read

19 October 2022 - Spectris plc (SXS: LSE), the expert in providing insight through precision measurement, is today hosting a capital markets event to outline its Strategy for Sustainable Growth and provide new medium-term targets.

Andrew Heath, Chief Executive commented: “Since our last capital markets day in 2019, we have transformed Spectris into a more focused and higher quality business, well positioned in attractive markets with structural growth drivers that are closely aligned to our ambition to be a leading sustainable business. At today’s capital markets event, we will demonstrate our confidence of compounding growth into the future, supported by organic investments and M&A, while continuing to expand operating margins. This Strategy for Sustainable Growth will deliver our new medium-term financial targets and drive long-term value for all our stakeholders.”

Compounding growth model with new medium-term targets

  • Organic sales growth               6-7% through the cycle
  • Adjusted operating margin    20%+
  • Cashflow conversion                 80-90%
  • ROGCE                                         Mid-teens %
  • ESG                                               Net Zero and employee engagement


Simplified reporting structure focused on two high quality divisions with compelling growth opportunities

Our businesses are focused on premium, precision measurement solutions, with industry-leading domain expertise, aligned with our Purpose to make the world cleaner, healthier and more productive.

The Group’s new divisional reporting structure comprises two main divisions, best reflecting the growth and margin expansion potential of the Group:

  • Spectris Scientific – a leader in advanced measurement techniques for materials analysis, comprising Malvern Panalytical and Particle Measuring Systems; and
  • Spectris Dynamics – a leader in advanced, integrated physical and virtual testing as well as
    high precision sensing solutions, comprising HBK.

The two divisions both have significant market positions, with growth and margin expansion opportunities underpinned by leading product offerings and plans for investment in R&D and M&A.

The event will be led by Chief Executive, Andrew Heath, and will feature presentations from
Chief Financial Officer, Derek Harding, and other members of the Spectris Executive Committee. The presentation will start at 13.30 and will be held at Landing 42, The Leadenhall Building, 122 Leadenhall Street, London EC3V 4AB. The presentation will also be webcast online. Details of the event can be found at:


A summary of the Group’s 2021 results under the new divisions is presented below:


Spectris Scientific

Spectris Dynamics

(non-reporting segments)




Sales (£m)






Adjusted operating profit (£m)






Adjusted operating margin (%)






Red Lion and Servomex will be reported in the ‘Other’ segment of our reporting going forward.


For and on behalf of Spectris plc

LEI Number: 213800Z4CO2CZO3M3T10


Spectris plc

Siobhán Andrews

Head of Corporate Affairs
+44 20 4551 4549 / +44 7920 230093

Tulchan Communications

Martin Robinson

Giles Kernick

+44 20 7353 4200

About Spectris

Spectris’ global group of businesses are focused on delivering value beyond measure for all our stakeholders. We target global, attractive and sustainable markets, where growth and high returns are supported by long-term drivers. Precision is at the heart of what we do. We provide customers with expert insight through our advanced instruments and test equipment, augmented by the power of our software and services. This equips customers with the ability to reduce time to market, improve processes, quality and yield. In this way, Spectris know-how creates value for our wider society, as our customers design, develop, test and manufacture their products to make the world a cleaner, healthier and more productive place. Headquartered in London, United Kingdom, Spectris employs approximately 7,350 people located in more than 30 countries. For more information, visit