REG - Smiths Group PLC - Smiths Group Capital Markets Event 2021

SmithsAnnouncement

17/11/2021 14:00

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RNS Number : 6915S  Smiths Group PLC  17 November 2021

 
 
 
News Release

London, 17 November 2021

For immediate release

 

 

Smiths Group - Capital Markets Event

 

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
18(th) 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
(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           Media enquiries
 Jemma Spalton, Smiths Group  Alex Le May, FTI Consulting

+44 (0)20 7004 1600
+44 (0)20 3727 1308

+44 (0)7867 390 250
+44 (0)7702 443 312

jemma.spalton@smiths.com
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
(http://www.smiths.com/) .

 

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