SMITH & NEPHEW PLC
For the period ended Dec 31, 2025. Filed Mar 16, 2026.
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The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.
FY2025 · Filed Mar 16, 2026
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SNN$31.15-2.7%Stored close · as of Nov 6, 2026
Contents
Group statement of changes in equity
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | | | | | | Capital | | | | | | | | | |
| | | Share | | Share | | redemption | | Treasury | | Other | | Retained | | Total | |
| | | capital | | premium | | reserve | | shares2 | | reserves3 | | earnings4 | | equity | |
| · · $ million · · $ million · · $ million · · $ million · · $ million · · $ million · · $ million | |||||||||||||||
| At 31 December 2022 | | 175 | | 615 | | 20 | | (118) | | (459) | | 5,026 | | 5,259 | |
| Attributable profit for the year1 | | – | | – | | – | | – | | – | | 263 | | 263 | |
| Other comprehensive income | | – | | – | | – | | – | | 54 | | (71) | | (17) | |
| Total comprehensive income | | – | | – | | – | | – | | 54 | | 192 | | 246 | |
| Equity dividends declared and paid | | – | | – | | – | | – | | – | | (327) | | (327) | |
| Share-based payments recognised | | – | | – | | – | | – | | – | | 39 | | 39 | |
| Cost of shares transferred to beneficiaries | | – | | – | | – | | 24 | | – | | (24) | | – | |
| At 31 December 2023 | | 175 | | 615 | | 20 | | (94) | | (405) | | 4,906 | | 5,217 | |
| Attributable profit for the year1 | | – | | – | | – | | – | | – | | 412 | | 412 | |
| Other comprehensive income | | – | | – | | – | | – | | (92) | | 15 | | (77) | |
| Total comprehensive income | | – | | – | | – | | – | | (92) | | 427 | | 335 | |
| Equity dividends declared and paid | | – | | – | | – | | – | | – | | (327) | | (327) | |
| Share-based payments recognised | | – | | – | | – | | – | | – | | 40 | | 40 | |
| Taxation on share-based payments | | – | | – | | – | | – | | – | | (1) | | (1) | |
| Cost of shares transferred to beneficiaries | | – | | – | | – | | 28 | | – | | (27) | | 1 | |
| At 31 December 2024 | | 175 | | 615 | | 20 | | (66) | | (497) | | 5,018 | | 5,265 | |
| Attributable profit for the year1 | | – | | – | | – | | – | | – | | 625 | | 625 | |
| Other comprehensive income | | – | | – | | – | | – | | 168 | | 4 | | 172 | |
| Total comprehensive income | | – | | – | | – | | – | | 168 | | 629 | | 797 | |
| Equity dividends declared and paid | | – | | – | | – | | – | | – | | (330) | | (330) | |
| Share-based payments recognised | | – | | – | | – | | – | | – | | 43 | | 43 | |
| Taxation on share-based payments | | – | | – | | – | | – | | – | | 4 | | 4 | |
| Purchase of own shares | | – | | – | | – | | (502) | | – | | – | | (502) | |
| Cost of shares transferred to beneficiaries | | – | | – | | – | | 53 | | – | | (41) | | 12 | |
| At 31 December 2025 | | 175 | | 615 | | 20 | | (515) | | (329) | | 5,323 | | 5,289 | |
| 1 | Attributable to equity holders of the Company and wholly derived from continuing operations. |
| 2 | Refer to Note 19.2 for further information. |
| 3 | Other reserves comprises gains and losses on cash flow hedges, foreign exchange differences on translation of foreign operations and net changes on fair value of trade investments. The cumulative translation loss within other reserves at 31 December 2025 was $341m (2024: $520m, 2023: $396m). |
| 4 | Within retained earnings is a non-distributable capital reserve of $2,266m (2024: $2,266m, 2023: $2,266m) that arose as a result of the Group’s reorganisation in 2008. |
| 5 | Issue of ordinary share capital in connection with the Group’s share incentive plans. |
** The Notes on pages 215–265 are an integral part of these accounts.**
| | STRATEGIC REPORT |
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| | GOVERNANCE |
| | ACCOUNTS |
| | OTHER INFORMATION |
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