Stryker : 2024 Comprehensive Report Factsheet

Published: 2025-03-17 08:10:13 ET SYK

2024 Comprehensive Report

Financial,

environmental, social and governance

We work with our customers every day to make

healthcare better

Stryker is a global leader in medical technologies. We offer innovative products and services in MedSurg, Neurotechnology and Orthopaedics that help improve patient and healthcare outcomes.

Stryker 2024 Comprehensive Report

Table of contents

2024 in review

Better healthcare

Patient impact story

Healthcare innovation

Our company

Advancing education

2024 fast facts

Product quality and safety

CEO message

Financial highlights

Corporate responsibility strategy

Stronger people

Healthier planet

Career development

Operational carbon

Diversity, equity

emissions

and inclusion

Value chain carbon

Environment, health

emissions

and safety

Design for sustainability

Communities

Operational waste

reduction

Good business

Appendix

Governance

About this report

Business ethics and integrity

References

Information security

2023 environmental

and data privacy

performance

Human rights

Forward-looking

Upstream supply chain

statements

management

Legal disclaimers

Non-GAAP reconciliation

2024

in review

Healthcare

People

A second chance at life

After a sudden cardiac arrest, an experienced marathon runner is saved by the quick thinking of his community-and one of Stryker's devices.

Planet

Business

Appendix

Stryker 2024 Comprehensive Report

On the day of the 2024 Belfast Marathon, 63-year-oldJohn was feeling fit and ready to run. But he doesn't remember much about the race. Despite his years of experience with long distance running, including two marathons the year before, John collapsed at the halfway mark. He wasn't just exhausted-

he was in cardiac arrest.

Luckily, bystander Peter O'Hare saw John collapse

and quickly recognized

the severity of the situation. Peter is a Senior Manager of Global Upstream Marketing for Stryker's Emergency Care Business, and having trained in emergency response, knew that John would need both CPR to keep his blood pumping and the help of an automated

external defibrillator (AED) to get his

heart beating again. A nurse began CPR

while Peter ran to get the Stryker-made AED he keeps in his car, knowing that every minute counts.

AEDs are used in cardiac events to help restore the heart to its normal rhythm and are essential to saving the lives of people like John. Stryker's devices are designed

to be intuitive, easy to use and clinically effective, with proprietary CPR Advisor technology that gives real-time feedback on the quality of CPR. Peter explained that while performing CPR for John, it was like "having someone standing over your shoulder saying 'keep doing what you're doing.'"

John refers to Peter, and the others who intervened that day, as his "angels." After Peter helped restore his heartbeat at the scene, John was transported to the local hospital, beginning his journey to a full recovery. "My angels were all aligned that day," says John, "It's a miracle what happened. I'm here today because of the defib."

John's story underscores the importance of having defibrillators in the community-and making them easy to use in emergency situations. Of his work, Peter noted, "I'm so grateful every day that we get to make products that literally help save and change people's lives. It really is a terrifying experience when someone's life is at threat, but I'm so thankful I was able to take immediate action."

2024

in review

Healthcare

Our company

Stryker is a global leader in medical technologies, and, together with our customers, we are driven to make healthcare better. We offer innovative products and services in MedSurg, Neurotechnology and Orthopaedics that help improve patient and healthcare outcomes. Alongside our customers around the world, we impact more than 150 million patients annually. More information is available at www.stryker.com.

People

Planet

Business

Appendix

Stryker 2024 Comprehensive Report

Focus areas

Global recognition

Great Place to Work 2024

Global:

U.S.:

World's Best Workplaces

100 Best Companies to Work For U.S.

Best Workplaces in Asia

Best Workplaces in Manufacturing and

100 Best Companies to Work For in Europe

Production

Best Workplaces for Parents

Best Workplaces for Women

Best Workplaces for Millennials

2024

in review

Healthcare

2024 fast facts*

$22.6B

53,000

75 countries in

SYK stock

global sales

employees

which we operate

symbol (NYSE)

People

Planet

Business

Appendix

Better healthcare

Over 150M patients impacted globally**

Completed 7 acquisitions

Invested more than $1.5B in research and development

Launched expanded Government Affairs and Market Access Organization to increase access to care

Stronger people

38.5 percent of our global employees are women

Launched and expanded five key employee development programs

Donated to nonprofits through our employee gift matching program

Healthier planet

Reduced carbon emissions by 32 percent compared to a 2019 baseline***

Used 45 percent renewable electricity to power facilities worldwide****

Partnered to launch the Collaborative for Healthcare Action

to Reduce MedTech Emissions (CHARME)

Good business

Introduced expanded enterprise-widerisk assessment process

96 percent of people managers completed course on Fostering a Culture of Integrity

70 percent of direct suppliers (by spend) assessed for environmental, human rights and ethical performance; on track for 2027 target

Stryker 2024 Comprehensive Report

Our values

Integrity

Accountability

We do what's right

We do what we say

People

Performance

We grow talent

We deliver

2024

in review

Healthcare

A message from Stryker's Chair and CEO, Kevin Lobo

People

Planet

Dear stakeholders,

We delivered an excellent year of results in 2024 and continued to grow our

Innovation is the lifeblood of a high-tech MedTech company, and we have healthy product pipelines across our businesses to help fuel future growth.

Business

Appendix

Stryker 2024 Comprehensive Report

global impact, touching the lives of over 150 million patients. We are driving outstanding innovation and had an active year of acquisitions that will help sustain our growth at the high end of MedTech. Our strong talent and culture, combined with our decentralized operating model, are key to our success. I'd like to thank our employees for their dedication and continued partnership with our customers to make healthcare better.

Talent and culture

Our mission and values are unifying forces in our company and our culture centers on purpose, talent, relationships and growth. Aligned with our commitment to employee engagement, we continue to advance our

diversity and inclusion efforts, which are contributing to our success. In recognition of our talent and culture, Stryker continues to be honored as a Great Place to Work across the world and across categories including World's Best Workplaces, Best Workplaces in Asia, 100 Best Companies to Work for in U.S. and Europe and Best Workplaces for Women.

We had two changes to our Board of Directors in 2024. After 15 years of distinguished service, Dr. Srikant Datar announced he would not be standing for re-election (see page 37). We also welcomed new board member Rachel Ruggeri, Executive Vice President and Chief Financial Officer, Starbucks, and she is having a positive impact on the board.

Innovation

Innovation is the lifeblood of a high-tech MedTech company, and we have healthy product pipelines across our businesses to help fuel future growth. Our deep customer insights allow us to understand their needs and build or buy technologies and solutions to address them. We launched numerous high-impact products in 2024 including our Pangea Plating System and LIFEPAK 35 monitor/defibrillator. We were also active in M&A, completing seven deals in the year, which are illustrated on pages 11-12. These acquisitions all fit within our existing businesses and will help accelerate growth and deliver more value to our customers. For example, care.ai, is positioned to build upon our recent Vocera purchase, showing our commitment to growing our presence

2024

in review

Healthcare

People

Planet

Business

Appendix

Stryker 2024 Comprehensive Report

in healthcare information technology, and will help optimize clinical and operational workflows for our customers.

Performance

In 2024, Stryker achieved another year of double-digit organic sales growth. We remain focused on advancing globalization, and our international success continued with 8.8% organic sales growth in the year. We continue to be under-penetrated in many markets outside of the U.S., and our international opportunity remains

significant. We also delivered on our

adjusted operating margin goal, expanding margins by 110 bps, and we remain on track to achieve our stated goal of returning to the 2019 level of adjusted operating margin by the end of 2025. Our adjusted earnings per share grew an impressive

15%, and we delivered solid free cash flow.

Corporate responsibility

We are committed to making an impact toward a better, healthier world as outlined in our Corporate Responsibility (CR) framework of "stronger people, healthier planet and good business." We are making progress toward our environmental commitments to be carbon neutral in our facilities by 2030 and power all facilities with renewable electricity by 2027. Our

environmental initiatives are also beneficial to our business and our customers; for example, by reducing material use in packaging. As you read this report, you will see the numerous ways we are driving impact to improve the health

of our employees, communities and the planet. I was particularly impressed by the charitable giving of our employees, which was supplemented by a strong company matching program.

Our mission and values are unifying forces in our company.

In summary, our strategy is working, and we continue to drive high growth across our key metrics. I would like to thank my fellow employees and Board of Directors for their passion and dedication to living our mission and values. I continue to believe that Stryker's best days are ahead of us.

Kevin Lobo

Chair and CEO

2024

in review

Healthcare

People

Planet

Business

Financial highlights

Financial overview

($ in millions, except per share amounts)

2024

2023

2022

Net sales

$22,595

$20,498

$18,449

Earnings before income taxes

3,492

3,673

2,683

Income taxes

499

508

325

Net earnings

2,993

3,165

2,358

Adjusted net earnings1

4,700

4,066

3,571

Net earnings per diluted share of common stock

Reported

7.8

8.3

6.2

Adjusted1

12.2

10.6

9.3

Dividends paid per share of common stock

3.2

3.0

2.8

Cash, cash equivalents and marketable securities

3,743

3,053

1,928

Appendix

Net earnings

Adjusted net earnings1

Dividends paid

($ per diluted share)

($ per share of common stock)

Report

12.2

10.6

Comprehensive

3.2

9.3

3.0

2.8

8.3

7.8

6.2

2024

Stryker

2022

2023

2024

2022

2023

2024

2022

2023

2024

in review

Healthcare

Financial highlights

(continued)

Sales by segment

MedSurg and Neurotechnology

17% Medical

13% Instruments

6% Neurovascular

11% Knees

3% Spinal

Implants

People

15% Endoscopy

9% Neuro Cranial

16% Trauma and Extremities

7% Hips

$22.6B

in global sales

3% Other

Planet

Business

Appendix

Stryker 2024 Comprehensive Report

Orthopaedics

2024 Geographic net sales

75.0%

19.4%

5.6%

United States

International

Emerging

(developed)

markets

59.8%40.2%

MedSurg and Neurotechnology

Orthopaedics

2024

in review

Healthcare

Committed to corporate responsibility

Our mission and values, together with our company strategy, serve as our compass, guiding our commitment to responsible, sustainable practices. This work is a call to action for everyone at Stryker in alignment with our mission to make healthcare better.

People

Our commitment to CR is grounded in our values, and Stryker's CR efforts focus on three pillars with one key objective: creating a better, healthier world. We are regularly exploring emerging topics and standards and will continue to evolve our reporting capabilities to meet the needs of our business and stakeholders.2 To prepare for emerging sustainability disclosure regulations, we are preparing to comply where appropriate,

including assessments in line with the Corporate Sustainability Reporting Directive (CSRD). The priority topics below may shift as we refine our double materiality assessment in accordance with CSRD. Learn more about our approach to reporting and stakeholder engagement in Stryker's Corporate Responsibility reports and resources.

Planet

Business

Appendix

Stryker 2024 Comprehensive Report

Pillars

Priority topics

Key commitments

Stronger people

Strengthening the people we serve

We are committed to serving our communities and creating a healthy, and inclusive workplace where employees thrive.

Healthier planet

Protecting our planet

We are committed to reducing our environmental impact on the world through responsible, sustainable operations.

Good business

Doing business the right way

We are committed to helping customers improve patient outcomes and growing responsibly by pursuing quality and integrity in everything we do.

Disclaimer

Stryker Corporation published this content on March 17, 2025, and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on March 17, 2025 at 12:09:01.536.