our approach strategy hero v2

Our strategy

What we do

We provide high-tech instruments, test equipment and software for many of the world’s most technically demanding industrial applications. Our technical expertise and deep domain knowledge enables us to provide the data and insights customers need to solve their challenges.

What our products equip our customers to do

We provide customers with our leading instrument and sensor technology, along with complementary software and services. Through a combination of our hardware, and analytical and simulation software, we provide superior data and invaluable insights that enable customers to work faster, smarter and more efficiently. This also equips them with the ability to reduce their time to market, improve processes, quality and yield. In this way, our know-how creates value for our wider society, as our customers manufacture and develop new products to make the world a cleaner, healthier and more productive place. We also provide a broad range of support services such as training, technical support, spare parts, calibration and maintenance.

Where we are 

We have a predominantly direct sales model through a worldwide network of sales, marketing and support offices enabling us to be close to customers and gain a deep understanding of the challenges they are seeking to address.

1. What are the goals:  Our philosophy, characteristics and focus 

 

Group philosophy

  • Small number of scale platforms
  • Tight financial control
  • Drive increasing shareholder value
  • Cyclically durable
 

Clear platform characteristics

  • Scalable
  • Attractive end markets
  • High gross margins
  • Asset light
  • Strong capabilities and performance 
 

Clear financial goals to create enhanced shareholder value

  • Sales growth
  • Operating margin expansion
  • Cash conversion
  • Free cash flow growth
  • Return on gross capital employed
 

Group non-financial goals

  • On-time delivery
  • Quality
  • Net promoter score
  • Ethics and compliance
  • Employee engagement
    Health, safety and environment
  • Sustainability

2. Where to play:   Our position and influence

Precision instrument-focused businesses

  • High-tech instruments and test equipment
  • Associated aftermarket service
  • Synergistic software and service, where Spectris has the right to play and win

Focusing on sustainable attractive technology-driven end markets

  • Defendable markets with barriers to entry
  • Favourable growth trends in end markets:
    – pharmaceutical
    – automotive
    – electronics and semiconductors
    – primary and advanced materials
    – technology-led industrials

Global reach

  • Optimising presence in each key region where relevant

Ensuring a beneficial social and environmental impact of our operations and the downstream value chain

3. How to win:   Leveraging our unique attributes

Clear, compelling customer value proposition

  • Leading instrument/sensor technology
  • Strong domain knowledge and customer intimacy
  • Complementary software and service
  • Generating superior insights

Ethical leadership 

  • Digitally-enabled
  • Innovation focused on growth and maintaining leadership positions and driving sustainable portfolio management

Group-wide focus on continuous performance improvement through:

  • Spectris Business System 
  • Talent management 
  • Performance management
  • Ethics and safety  

M&A strategy

  • Synergistic acquisitions focused on existing and potential platforms

4. How to configure:   Our capability

Core capabilities reside in the operating companies

  • Customer intimacy and value selling
  • Go-to-market
  • Strong domain knowledge
  • Application and technical expertise
  • Commercial excellence
  • R&D effectiveness
  • G&A efficiency
  •  Acquisition integration
  • ESG

Lean head office

  • Group strategy
  • Financial performance
  • Target setting
  • Capital allocation
  • Portfolio transition
  • Corporate governance and services