Smiths Group (SMIN) Trading Update summary

Leadership changes

• Clare Scherrer will retire as CFO on 30 April 2025, with Julian Fagge appointed as her successor effective 1 February 2025.

• Julian Fagge brings extensive financial, strategic, and operational experience from various roles within Smiths since 2013.

• Additional executive changes include Bernard Cicut's retirement, Ruben Álvarez's promotion, Vera Parker's new role, and Kini Pathmanathan's expanded responsibilities, all effective 1 February 2025.

Upgraded FY2025 guidance

• Full-year organic revenue growth guidance raised to 6-8%, up from 5-7%, surpassing medium-term targets.

• Upgrade reflects strong performance in Smiths Detection and Smiths Interconnect, and improved order book visibility.

• Operating profit margin guidance remains at a 40-60 basis point expansion for FY2025.

• Further details will be provided with the FY2025 Half Year results on 25 March 2025.

Remuneration and succession details

• Julian Fagge's annual salary set at £625,000, with bonus and LTIP opportunities aligned with company policy.

• Clare Scherrer will be treated as a 'good leaver,' receiving pro-rated bonuses and vesting of outstanding LTIP and deferred bonus awards.

• Clare must maintain a post-employment shareholding for two years and remains subject to malus and clawback provisions.