Q1 2023 Smith & Nephew PLC Trading Statement Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Graham Doyle - UBS Investment Bank, Research Division - Analyst : Just two for me, please. On the -- so it's obviously been pushed a few times around the guidance. Obviously, a strong Q1. I suppose we've seen this with peers as well. Just is there any reason to think that there's sort of a pull forward in demand, and that's why you have this kind of super strong Q1? Or is it just, again, general caution as to why there's no change here? And then just a follow-up on VBP, just a slightly different one. The -- when does the actual ortho lapping events happen within Q2, just to get a sense of that? And then would you be able to give us a sense as to how Sports Medicine within China itself has been growing, just to understand that as well?

Question: Graham Doyle - UBS Investment Bank, Research Division - Analyst : That's super. Maybe just a quick follow-up then because you -- obviously, you keep pointing towards obviously 3 more quarters to go and a little bit of caution. It's early days in April, but is there anything you've seen that has given you a sense of that, that we should be thinking about the Q2 is going to be slightly different? Or is it, again, a little bit too early tell? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. APRIL 26, 2023 / 7:30AM, SN.L - Q1 2023 Smith & Nephew PLC Trading Statement Call