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The report outlines accelerating organic revenue growth (+3.8%), headline EPS growth (+17.8%), order growth (+11%), and revenue from new products (£51m), alongside stronger execution via an embedded Smiths Excellence System and resilient operating margin (16.3%). It also reports cash conversion (80%), a reduced gross debt position (£380m), and initiatives across people, ESG leadership, and portfolio focus after the Smiths Medical sale.",{"@graph":63,"@context":118},[64,80,101],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":51,"@type":70,"position":76},"https://docshare.wps.com/template/general/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/smiths-group-plc-annual-report-fy2022-a-year-of-accelerating-growth-and-stronger-execution/569333/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/smiths-group-plc-annual-report-fy2022-a-year-of-accelerating-growth-and-stronger-execution/569333.png","ImageObject",442,249,{"name":88,"@type":89},"Well Done","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-10-23","2026-10-13",true,{"@type":98,"interactionType":99,"userInteractionCount":79},"InteractionCounter",{"@type":100},"ViewAction",{"@type":102,"mainEntity":103},"FAQPage",[104,110,114],{"name":105,"@type":106,"acceptedAnswer":107},"What were the key FY2022 growth and earnings highlights?","Question",{"text":108,"@type":109},"FY2022 delivered +3.8% organic revenue growth and +17.8% headline EPS growth, alongside reported revenue growth of +6.7%. Order growth reached +11% with solid demand across most end markets.","Answer",{"name":111,"@type":106,"acceptedAnswer":112},"How did the company describe performance in execution and profitability?",{"text":113,"@type":109},"The report states that the Smiths Excellence System is fully embedded, with a resilient operating margin of 16.3% and headline operating profit of £417m. It also notes price offsetting of inflation and mitigation of supply chain impacts.",{"name":115,"@type":106,"acceptedAnswer":116},"What balance sheet and capital return actions were reported for FY2022?",{"text":117,"@type":109},"Smiths reports a £380m reduction in gross debt, with leverage of 0.3x net debt/headline EBITDA. It proposed a total dividend of 39.6p and highlighted portfolio focus following completion of the Smiths Medical sale and an ongoing share buyback program.","https://schema.org",{"og:url":78,"og:type":120,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":122,"canonical":78},"index,follow",{"doc_id":124,"site_id":56},569333,1792092737,{"code":4,"msg":5,"data":127},{"doc_id":124,"user_id":128,"nickname":88,"user_avatar":129,"doc_module":9,"category_id":50,"category_name":51,"doc_title":59,"doc_description":61,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":79,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":135,"language":136,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":137,"faqs":138,"seo_title":139,"seo_description":61,"update_tm":140,"read_time":141},5909892210082,"https://ap-avatar.wpscdn.com/avatar/56001069da27c9f41e8?x-image-process=image/resize,m_fixed,w_180,h_180&k=1789614185077863061","PIONEERS  \nOF PROGRESS  \nIMPROVING OUR WORLD THROUGH  \nSMARTER  \nENGINEERING  \nAnnual Report FY2022  \nSMITHS GROUP PLC ANNUAL REPORT FY2022  \n01 OVERVIEW  \n02 STRATEGIC REPORT  \n03 GOVERNANCE  \n04 FINANCIAL STATEMENTS  \n| OUR\u003Cbr>\u003Cbr>PURPOSE\u003Cbr>We are pioneers of progress – improving our world through smarter engineering.\u003Cbr>Smarter engineering means helping to solve the toughest problems, for our customers, our communities and ourselves. We help to create a safer, more efficient and better-connected world. We are united by our Purpose. It is what we do, how we think, and how we will continue to use our passion for technology and engineering tobe successful in the future.\u003Cbr> P 24\u003Cbr>READ MORE\u003Cbr>Sustainability at Smiths\u003Cbr>\u003Cbr>SEE MORE\u003Cbr>[www.smiths.com](www.smiths.com) |\n| --- |\n|  |\n| CONTENTS\u003Cbr>\u003Cbr>\u003Cbr>01 Overview IFC-4\u003Cbr>FY2022 highlights 1 Our priorities and targets 2 Our key global markets 2 Our divisions 3 02 Strategic Report 5-55 Chairman’s statement 5\u003Cbr>Our Purpose IFC\u003Cbr>Chief Executive Officer’s review 9 -Our business model 9 -Our strategy 10 -Review of the year 11 Chief Financial Officer’s review 15 -Divisional review 17 Key performance indicators 21 Sustainability at Smiths 24 Task Force on Climate-related Financial Disclosures 35 Stakeholders and Section 172 Statement 41 Non-Financial Information Statement 45 Risk management 46 -Principal risks and uncertainties 47 Going Concern and Viability Statement 54\u003Cbr>\u003Cbr>03 Governance 56-92 Chairman’s introduction\u003Cbr>Board biographies\u003Cbr>Nomination & Governance Committee Report\u003Cbr>Audit & Risk Committee Report\u003Cbr>Remuneration & People Committee Report\u003Cbr>Science, Sustainability & Excellence Committee Report Directors’ Report\u003Cbr>Statement of Directors’ responsibilities 56\u003Cbr>58\u003Cbr>66\u003Cbr>69\u003Cbr>75\u003Cbr>89\u003Cbr>90\u003Cbr>92 04 Financial statements 93-187 Independent auditor’s report Consolidated primary statements Accounting policies\u003Cbr>Notes to the accounts\u003Cbr>Unaudited Group financial record 2018-2022 Unaudited US dollar primary statements Smiths Group plc Company accounts Subsidiary undertakings\u003Cbr>Shareholder information 93\u003Cbr>103\u003Cbr>108\u003Cbr>116\u003Cbr>164\u003Cbr>165\u003Cbr>171\u003Cbr>180\u003Cbr>187 |\n\nSMITHS GROUP PLC ANNUAL REPORT FY2022  01 OVERVIEW   02 STRATEGIC REPORT   03 GOVERNANCE   04 FINANCIAL STATEMENTS  1  \nFY2022 HIGHLIGHTS  \nA YEAR OF ACCELERATING GROWTH AND STRONGER EXECUTION  \nAccelerating growth – +3.8% organic revenue growth, fastest in nearly a decade – Organic revenue growth ahead of expectations; +3 .8%1 (H1: +3 .4%; H2: +4 .1%);  \nfive consecutive quarters of growth; reported growth of +6.7%  \n– Headline2 EPS growth +17.8%  \n– High demand across most end markets with strong order growth of +11%3  \n– £51m of revenue from new products launched in FY2022; R&D investment increased +14%  \n– Targeted M&A contributed +1.8% of reported growth  \n– Increasing returns to shareholders with proposed total dividend of 39.6p, +5% Stronger execution – Smiths Excellence System fully embedded  \n– Resilient operating margin of 16 .3%with headline operating profit2 of £417m  \n– Price offsetting inflation and mitigating other supply chain impacts  \n– Solid operating cash conversion4 of 80%; investment in working capital and capex to support growth and mitigate supply chain impacts  \n– More focused portfolio following completion of Smiths Medical sale and rapid return of proceeds with share buyback programme now 76% complete  \n– Smiths Excellence System now fully embedded, with high-impact projects underway and targeted savings actions to drive enhanced efficiency  \nInspiring and empowering our people – an energisedand focused team  \n– A refreshed leadership team with new senior appointments throughout the year  \n– Introduced Smiths Leadership Behaviours to build on our strong culture  \n– Driving an even more dynamic and inclusive culture with greater focus on diversity  \n– Continuing to translate our commitment to ESG leadership into action  \nStrong balance sheet – well positioned to execute ou","cbCaip6VhM6oKO2W","https://ap.wps.com/l/cbCaip6VhM6oKO2W","pdf",3860914,192,"English","# Overview\n## FY2022 highlights\n## Strategic Report\n## Governance\n## Financial statements","[{\"question\":\"What were the key FY2022 growth and earnings highlights?\",\"answer\":\"FY2022 delivered +3.8% organic revenue growth and +17.8% headline EPS growth, alongside reported revenue growth of +6.7%. Order growth reached +11% with solid demand across most end markets.\"},{\"question\":\"How did the company describe performance in execution and profitability?\",\"answer\":\"The report states that the Smiths Excellence System is fully embedded, with a resilient operating margin of 16.3% and headline operating profit of £417m. It also notes price offsetting of inflation and mitigation of supply chain impacts.\"},{\"question\":\"What balance sheet and capital return actions were reported for FY2022?\",\"answer\":\"Smiths reports a £380m reduction in gross debt, with leverage of 0.3x net debt/headline EBITDA. It proposed a total dividend of 39.6p and highlighted portfolio focus following completion of the Smiths Medical sale and an ongoing share buyback program.\"}]","SMITHS GROUP PLC - Annual Report FY2022 - A Year of Accelerating Growth and Stronger Execution | PDF",1791875226,67]