Strategy - Smiths Group plc


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Our ambition is to establish smiths as one of the world’s leading technology companies. We will do this by delivering above-market sustainable growth in our chosen markets and world-class competitiveness and innovation, supported by our strong financial framework.

During 2017 we made significant progress against our three objectives of outperforming our target markets, achieving world-class competitiveness, and maintaining a strong financial framework.

We use a range of performance metrics in order to provide a clear and consistent measure of our underlying performance. We face a number of risks to delivering our strategy and our priorities should be reviewed in relation to these. Our principal risks and mitigating actions can be found in our Annual Report on pages 62 to 67.

Outperforming our target markets

We focus the portfolio on our most attractive markets globally, where we can sustainably maintain a scalable top three leadership position.

Our focus areas:

  • Reposition the portfolio for growth through organic investment and a highly disciplined approach to acquisitions and disposals
  • Increase our focus on higher-growth regions

Progress and KPIs

Delivering world-class competitiveness

We drive world-class competitiveness through:

  • a shared operating model (SES) that drives speed and efficiency on a sustainable basis;
  • investing in innovation for technological differentiation; and
  • building a learning organisation that enables our people to be the best that they can be.

We call this our Smiths Way of working.

Our focus areas:

  • Deliver the Smiths Excellence System (SES) – a shared operating model focused on continuous improvement, speed and efficiency
  • Create a culture of innovation
  • Build a learning organisation

Progress and KPIs

Strong financial framework

Our strong financial framework underpins the delivery of our strategy and value creation by optimising cash generation and allocating capital to the best value creation opportunities.

Our governance framework is supported by robust risk management and strong financial control to help maintain our investment-grade credit rating.

Our focus areas:

  • Deliver profitable growth with sustainable margins
  • Focus the portfolio on sustainably competitive and asset-light businesses
  • Apply strong financial discipline to the way we manage the business and invest

Progress and KPIs

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Smiths Group divisions:

John Crane, Smiths Medical, Smiths Detection, Smiths Interconnect, Flex-Tek

Smiths Group plc:
Registered office 4th Floor, 11-12 St James’s Square, London, SW1Y 4LB
Incorporated in England No. 137013
Copyright 2017 Smiths Group plc.
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