Smith & Nephew (SN) Investor Presentation summary

Company overview and market position

• Operates in over 100 countries with approximately 17,500 employees and annual sales of $5.8 billion in 2024.

• Holds leading positions in sports medicine, orthopaedics, trauma, and advanced wound management markets.

• Progressive dividend policy with uninterrupted payments since 1937.

• FTSE 100 constituent with ADRs traded on the NYSE.

Financial performance and growth

• Q3 2025 revenue reached $1,501m, with underlying growth of 5.0% and reported growth of 6.3%.

• 2024 full-year revenue was $5,810m, with a trading profit margin of 18.1%.

• Adjusted EPSA for 2024 was 84.3¢, and dividend per share was 37.5¢.

• Net debt at the end of 2024 stood at $2,709m.

• Free cash flow guidance for 2025 raised to around $750m.

Business unit and regional performance

• Orthopaedics Q3 2025 revenue: $577m (+4.1% underlying), driven by strong hips and trauma/extremities.

• Sports Medicine & ENT Q3 2025 revenue: $469m (+5.1% underlying), with robust growth in joint repair.

• Advanced Wound Management Q3 2025 revenue: $455m (+6.0% underlying), led by bioactives and devices.

• US Q3 2025 revenue: $789m (+5.5% underlying); Emerging Markets: $265m (+5.4% underlying).