Deepak Nath, CEO & Director, Welcome Note on Smith & Nephew Q3 Results

Thank you for joining us for the Smith & Nephew third quarter results presentation. I’m Deepak Nath, the Chief Executive Officer, and I’m pleased to be joined by John Rogers, our Chief Financial Officer.

Today, we reported third quarter results that remain consistent with our expectations and support our full-year guidance for both revenue growth and trading margin.

Underlying revenue growth for the quarter was 5%, aligning with the run rate from the first half of the year. This growth was driven by continued momentum in our Sports Medicine and Advanced Wound Management divisions.

In Orthopaedics, growth reflected trends broadly similar to those seen in the prior quarter within our reconstruction and robotics business. Strength in Hip sales in the U.S. helped offset softer performance in Knees, while internationally, strong Knee sales balanced more modest results in Hip sales.

We achieved our strongest ever Q3 for core Replacements worldwide, and global growth in Trauma and Extremities was also robust.

Group growth was well balanced across geographies, and we are now beginning to see China headwinds abate. Excluding China, underlying revenue growth was 6.4%.

These results underscore the resilience and strength of our portfolio as we continue to execute against our strategic priorities.
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