17 November 2021

Smiths Group - Capital Markets Event

General Industry

Strategy to accelerate growth and execution alongside medium-term targets

Smiths Group plc ("Smiths" or "the Group") announces that it will host a capital markets event commencing today at 14.00GMT online and concluding on 18th November with an in-person Q&A session and interactive technology exhibition.

Details of the event can be found at: https://www.smiths.com/capital-markets-event-2021

The event will outline how the Group will accelerate growth and deliver better execution through a focused approach, the Smiths Value Engine. This will be led by Smiths Group CEO, Paul Keel and will feature presentations from the Presidents of John Crane, Smiths Detection, Flex-Tek and Smiths Interconnect as well as Group CFO, John Shipsey. Smiths will set out its financial framework and medium-term financial targets, as well as outlining progress to date on the Group's sustainability strategy.

Paul Keel, Group Chief Executive commented:

"Today we set out how Smiths will deliver performance in line with our significant capabilities and potential, with a particular focus on faster and more consistent growth.

Smiths is intrinsically strong with world-class engineering, leading positions in critical markets, distinctive global capabilities and underpinned by a powerful financial framework. As we outline, we have a clear opportunity for significant near- and longer-term value creation which we will achieve through growing faster, executing better and doing more to inspire and empower our people.

While we're pointed in the right direction, we need to execute more quickly and consistently.  It is through our focused plan, the Smiths Value Engine, that we will do this, performing to our full potential and delivering against the medium-term targets that we have set out today."

The Group's medium-term targets are:

Organic Revenue Growth

4-6% (with additional upside from M&A)

EPS Growth

7-10% (with additional upside from M&A)

 

ROCE

15-17%

 

Operating Profit Margin

18-20%

 

Operating Cash Conversion

100%+

 

These targets are underpinned by the Group's clear operational KPIs and environmental targets, including a commitment to Net Zero emissions from operations by 2040, all of which are outlined in the Annual Report.

Investor enquiries

Jemma Spalton,Smiths Group
+44 (0)20 7004 1600
+44 (0)7867 390 250
jemma.spalton@smiths.com

Media enquiries

Alex Le May, FTI Consulting
+44 (0)20 3727 1308
+44 (0)7702 443 312
smiths@fticonsulting.com

 

Legal Entity Identifier (LEI): 213800MJL6IPZS3ASA11

About Smiths Group 

For over 170 years, Smiths Group has been pioneering progress by improving the world through smarter engineering. We serve millions of people every year, to help create a safer, more efficient and better-connected world, across four major global markets:  Energy, General Industry, Security & Defence, and Aerospace. Listed on the London Stock Exchange, Smiths employs c.22,000 colleagues in over 50 countries. For more information visit www.smiths.com.

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